Government extends deadline for e-filing of corporate returns
New Delhi: The last date for e-filing tax returns by corporates has been extended to November 30 to enable companies get used to the new system. Until last year, returns were being filed manually, a Central Board of Direct Taxes (CBDT) spokesman said. He said with the introduction of e-filing the onus on feeding data of Tax Deduction at Source (TDS) was on the corporates.

The e-filing deadline has been extended from October 31 to November 30, 2006, as many companies were yet to gear themselves to the new method of filing, which could be done only after auditing of the company accounts.

Earlier, the companies used to club all TDS certificates and file them toward the end of the deadline, leaving the work of loading the data on the computer to the tax authorities.

He said there were some teething trouble in computer software for e-filing and they have been rectified now.
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'Delhi traders' bandh may lead to Rs7,000-cr biz loss'
New Delhi: Asscocham has estimated the three-day shutdown by traders in the national capital has cost Rs7,000 crore in terms of business lost.

Shops and some commercial establishments here have remained shut since October 30 in protest against the Municipal Corporation of Delhi's (MCD) action of sealing shops operating out of residential premises.

The sealing action followed a Supreme Court order in this regard.

Assocham said the total revenue loss to the exchequer due to the stir would be to the tune of Rs600-650 crore. "However, the worst sufferer has been the 15 lakh daily wage earners in the national capital who have been thrown out of business due to the stir.

CII has estimated the loss to the exchequer based on average VAT collections in Delhi at Rs150 crore.

The chamber urged the government to come out with the Master Plan for Delhi (MPD) at the earliest.
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Maharashtra approves Rs6,192-cr for Mumbai Metro
Mumbai: The Maharashtra government has approved an outlay of Rs6,192 crore for building the 29-km long Charkop- Bandra-Mankhurd route of the Mumbai Metro project. The route would have 27 elevated stations.
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Nasscom's competence test starts
New Delhi: Nasscom has announced the national rollout of NAC - the Nasscom Assessment of Competence (NAC). The government of Rajasthan is the state the first to roll out NAC. The test will be held in the cities of Jaipur and Ajmer on November 18th 2006.

The test has been designed by Nasscom and Hewitt, with active participation of ITES-BPO industry players aimed at creating a robust and continuous pipeline of talent by transforming the "trainable" workforce into an "employable workforce".

NAC aims to provide insights into the real training and development needs of talent and hence help companies, Governments and Universities develop customized talent development initiatives and programs. At the same time, it will help to tap new talent pools in comparatively remote parts of the country, through a common assessment accessible easily to all.

Nasscom is expecting about 2000 candidates across various colleges to take the test in Rajasthan, in the first instance.
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