The Central Board of Direct Taxes on Monday clarified that the concessional 5 per cent tax on interest paid on foreign loans taken by infrastructure sector is not available for existing loans that are restructured solely to avoid the 20 per cent withholding tax on interest payment.

NSE likely to appoint Mathur as chairman

new delhi: Former LIC chief SB Mathur is likely to succeed Vijay Kelkar as the chairman of National Stock Exchange (NSE). Mathurs appointment is awaiting market regulator Sebis approval, sources said.

FDI in July up 60% to $1.76 billion

new delhi: After declining for three consecutive months, foreign direct investment (FDI) in India increased by about 60 per cent to $1.76 billion in July.

R-MediaWorks to part own Digital Domain

Mumbai: Reliance MediaWorks and China-based Galloping Horse America are set to part-own some of the businesses of film-maker James Camerons Digital Domain Productions.

IMF set to lower growth forecast

WASHINGTON: The International Monetary Fund is set to cut its forecast for global growth next month, IMF MD Christine Lagarde has said.

Cairn Energy to sell 15.3 cr Cairn India shares

New Delhi: UKs Cairn Energy is selling a little less than half of its remaining 18.3 per cent shareholding in Cairn India for up to $940 million.