Wednesday, July 11, 2012, Chandigarh, India
Edition update time 2:30 am (IST)

Latest news, updated at 11:30 am

 Pinki Pramanik released from jail...more
 Shettar to be sworn in CM tomorrow...more
 Centre to approve Rs 60,000 cr bonanza for UP...more

No service tax to be levied on NRI remittances: FinMin
 New Delhi, July 10
 The Finance Ministry today clarified that no service tax would be levied on NRI remittances from overseas.

Why the clarification
 Concerns were being expressed over reports that there was a move to levy 12% tax on money sent back home by Indians abroad under the changed service tax regime from July 1
The final word
 The matter has been examined and it is clarified that there is no service tax per se on the amount of foreign currency remitted to India from overseas
 As the amount of remittance comprises money, the activity does not comprise a “service” and is not subject to service tax
 In case any fee or conversion charges are levied for sending such money, they are also not liable to service tax as the person sending the money and the company conducting the remittance are located outside India


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Wait for fighter jet gets longer; govt to relook at process
 New Delhi, July 10
 Wait of Indian Air Force for an early decision on finalising the contract to procure the much-awaited Medium Multi-Role Combat Aircraft (MMRCA) just grew longer. The Government has decided to take a re-look at the entire process that declared French Dassault Aviation as the lowest bidder in the multi-billion dollar contract.

Under fire for remarks on Rahul, Khurshid says he was misquoted
 New Delhi, July 10
 After AICC general secretary Digvijay Singh, Law Minister Salman Khurshid found himself in trouble today over his critical remarks on Nehru-Gandhi scion Rahul Gandhi and PM Manmohan Singh.

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Human remains found near Laila's farm house
 Mumbai/Nashik, July 10
 Police has found human remains, including three skulls, near a farm house of Bollywood starlet Laila Khan who has been missing since early last year, while the key suspect in the kidnap case has claimed she has been murdered. The remains were found today after a day-long search by a team of Mumbai Crime Branch near the farm house located in Igatpuri, about 100 km from here in Nashik district, police sources said.

Punjab to host CMs’ meet; water share high on agenda
 Chandigarh, July 10
 Punjab will host the Northern Zone Chief Ministers’ meeting here on July 13 to deliberate various issues. The conference aims to boost regional cooperation between states and to iron out inter-state differences and issues amicably. Chief Ministers of Himachal Pradesh, Punjab, Haryana, Delhi, Rajasthan and Jammu and Kashmir will attend the meeting whereas the UT Administrator will represent Chandigarh.

‘LeT more dangerous than Al-Qaida’ 
 Washington, July 10
 With Al-Qaida on the backfoot, Hafeez Saeed founded LeT has emerged as the world’s most dangerous terror group and has connections with the Pakistan’s ISI and army, a former senior CIA officer has said. The November 2008 attack by 10 LeT terrorists on multiple targets in Mumbai was the most significant and innovative terrorist attack since 9/11, Bruce Riedel, Senior Fellow Foreign Policy at Brookings Institution, a Washington based think tank, wrote in The Daily Beast.

India buys Gandhi letters for $ 1.28m
 New Delhi, July 10
 The Government today said it had bought the Gandhi-Kallenbach Archives — a collection of letters, papers, photographs and other material related to Mahatma Gandhi — for $1.28 million and the entire lot has been withdrawn from the proposed auction by Sotheby's in London.


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