« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Maharashtra to look into ST on petrol, diesel... Is MAT liability subject to advance tax?... » Mobile players back move to revoke Press Note 5 September, 27th 2006 Ready to accept FDI cap at earlier 49 pc Cellular operators on Tuesday said that they were willing to go back to the old regime with the cap on foreign direct investment (FDI) in telecom companies at 49 per cent if the Government was not able to find an equitable solution that was acceptable to all. Speaking to Business Line, Mr T.V. Ramachandran, Director General, Cellular Operator's Association of India, said, "Everyone seems to be having an issue ever since the Press Note 5 was issued in November. If these issues cannot be resolved amicably, then it would be better to go back to the previous regime where there was no concerns relating to security or foreigners heading a telecom company." Bharti Airtel, the country's largest cellular operator, said in a statement, "Given that there are serious differences on the implementation of the conditions provided under Press Note 5, Bharti Airtel would like to appeal to the Government to have a quick and equitable resolution to the issue keeping in consideration the necessity for having a level-playing field amongst all the industry players. In the event such attempts fail, a suspension or revocation of Press Note 5 may be the best option." Bharti also clarified that its FDI component in the operating company is within the limit of 49 per cent. In November 2005, the Government had issued Press Note 5, which allowed telecom operators to increase FDI up to 74 per cent. The Government also added various riders including the clause, which prohibited foreigners from heading any telecom company. There were other stipulations related to security, which was included in the guidelines. W hile the Department of Telecom proposed to relax some of these norms as per the requests made by the operators, other Ministries, including the Home Ministry, raised many objections. Even the Prime Minister's Office expressed reservations in agreeing to the proposed changes made by the DoT, which prompted the latter to suggest complete suspension of the Press Note 5. The deadline for implementing the guidelines stipulated in the Press Note has been pushed twice and the new date is set for October 2. The Cabinet is expected to take up this issue this week to decide on the fate of the controversial policy. Thomas K. Thomas