Exempt IT from sales tax, says Ministry
The Ministry of Information Technology is likely to ask state governments to exempt all IT products from sales tax. Sales tax in most states have gone up to a whopping 8 per cent following rationalisation as suggested by the Jyoti Basu committee.



Sensex soars by 104 pts again
Not letting go the opportunity, bulls extended their New Year dance for the second successive week. Share values and indices hit record highs on Monday following a sharp jump in the Nasdaq composite index of the US and other world markets.



RBI draft restricts banks, FIs entry into insurance
RBI draft guidelines on direct entry of banks and Financial Institutions into insurance have stated that these entities should not be allowed to undertake insurance business both departmentally as well as through the subsidiary route.



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