India and Korea sign agreement on IT
New Delhi: India and Korea have agreed to promote co-operation in the field of Information Technology. In a joint statement signed by the IT and Communication ministers of the two countries, it was agreed to provide a fillip to the investment flows from Korea to Indian ICT hardware sector and exploit complementarities between Korean ICT hardware industry and the Indian software industry.

The statement was signed by the Union Minister of IT and Communication, Dayanidhi Maran, and the Korean Minister of Information and Communication, Daeje Chin. The joint statement aims to provides for development of technology and human resources in software sector, next- generation ICT industry, such as 4G and next-generation mobile communications and research networks, broadband infrastructure, e-government, digital signature and Cyber Emergency Response Team (CERT).
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Direct tax collections for April-Sept up 33.16 per cent
New Delhi: Direct tax collections of the Central Government have increased by 33.16 per cent during April 1-September 28 to touch Rs44,143 crore as against Rs33,150 crore in the same period last year.

The collection performance, so far, represents 31.7 per cent of the Budget estimate of Rs1,39,365 crore in direct tax collections for the fiscal year 2004-05.

While income-tax collections for the period under review stood at Rs24,320 crore (Rs14,404 crore), corporation tax collections in the same period stood at Rs19,823 crore (Rs18,746 crore).

The Centre had pegged the corporation tax target for 2004-05 at Rs88,436 crore. The income-tax budget estimate for 2004-05 stood at Rs50,929 crore.
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