Mumbai - The Bombay High Court on Friday ruled Vodafone is not liable to pay an income tax demand of Rs 3,200 crore in a case relating to transfer pricing, a verdict which comes as a big relief for the UK-based mobile service provider already locked in a big tax dispute with the Government.
The I-T Department had asked the company to pay additional income tax alleging that it had undervalued its shares in the subsidiary Vodafone India Services while transferring them to the parent company in Britain. The transaction took place in FY10.
New Delhi - Norwegian telecom major Telenor on Friday said that it is evaluating 'Payment Banks' business opportunity in the country.
"It is a good step forward. In many countries we are leading mobile money services. I welcome the structure and we will surely have look at it," Telenor Group CEO Jon Fredrik Baksaas said in reply to company's interest in setting up Payment Banks in the country.
The Reserve Bank of India had issued draft guidelines for setting up Payment Banks to facilitate small savings accounts, payments and remittance services to migrant labour workforce. As per draft guidelines mobile service providers are also eligible for setting up payment banks.
Srinagar: Bharat Sanchar Nigam Limited (BSNL) on Friday joined other service providers in announcing relief to customers in the Valley during the period when the state was hit by floods.
The company said it would not charge its customers in Jammu and Kashmir for the telecommunication services for the month of September for not being able to provide the services fully during the period.
The announcement came following state Governor NN Vohra's suggestion in this regard to RN Sudhakar, chief general manager, BSNL, Jammu and Kashmir Circle, who called on the Governor at Raj Bhavan yesterday.
New Delhi: Acting on the directions of the Supreme Court, the government has issued fresh orders for permanent appointment of an Enforcement Directorate (ED) officer in the agency who has been tasked with the probe into the
2G spectrum allocation case.
The Finance Ministry, on September 13, issued orders for appointing Rajeshwar Singh as Deputy Director in the agency on "absorption basis with immediate effect".
The apex court had issued directions in this regard on September 8 after it was informed that Singh's appointment has not been made regular by the government despite an order from the Central Administrative Tribunal (CAT) which was issued in December last year.
New Delhi: GSM based telecom players added 48.5 lakh new subscribers in July to take the total user base to 74.44 crore, industry body COAI said Thursday.
The GSM subscriber base stood at 73.95 crore at the end of June 2014, the Cellular Association of India (COAI) said.
COAI, which represents telecom players like Bharti Airtel, Vodafone and Idea Cellular, said the data does not include GSM subscriber number of Reliance Communications and Tata Teleservices.
Reliance Jio Infocomm had also joined the body recently.
New Delhi: Network solutions major Ericsson Tuesday said it has won a contract from Vodafone India to deploy its payment solutions in seven circles for the country's second largest telecom operator.
Financial details of the deal were not revealed.
The five-year contract covers new circles of Uttar Pradesh (W), Uttar Pradesh (E), Punjab, Haryana and Himachal Pradesh, besides Mumbai and Maharashtra.
"Ericsson Charging platform to be launched across 7 Vodafone circles, enabling new revenue-generating features and potential payment convergence across prepaid and postpaid segments," it said in a statement.
New Delhi - Gross revenue of 22 telecom operators, including Bharti Airtel, RCom, BSNL and Tata Teleservices, declined in October-December quarter of 2013 compared to the previous quarter, government said on Monday.
New Delhi: Telecom regulator Trai on Thursday began the consultation process for the next round of auctions for spectrum held by mobile operators - Airtel, Vodafone, Idea and RCom - as some of their licences are set to expire in 2015-16.
"The Telecom Regulatory Authority of India has today released consultation paper on valuation and spectrum price: Licence expiring in 2015-16," Trai said in a statement.
The process will determine the reserve price of spectrum to be auctioned across 18 out of the 22 telecom service areas across the country for 900 Mhz and 1800 Mhz bands, used for providing mobile services based on GSM technology standard.
New Delhi: Telecom operators such as Airtel, Vodafone, Idea, RCom, Aircel, Tata Tele and BSNL have not paid penalties totalling Rs 2,116.95 crore levied on them for non-compliance of subscriber verification rules that are important for national security, CAG said in its report.
"We further noticed that out of Rs 2506.80 crore of penalty levied by the DoT and the TERM Cells during 2009 to 2012 for defective CAFs, the service providers had paid only Rs 389.85 crore," the Comptroller and Auditor General
(CAG) said in its latest report.
New Delhi: Telecom major Bharti Airtel on Wednesday indicated that it may cut down on discounts it offers on mobile call rates to push revenue from voice services.
"There might be ups and downs in certain quarters, but the long-term secular opportunity for raising voice realisation remains, given the significant gap between headline tariff and the realised rates or in other words discounted tariffs," Bharti Airtel's Managing Director and CEO (India and South Asia) Gopal Vittal said.
New Delhi: After registering a huge decline in the recent past, foreign direct investment in the telecom sector grew manifold to USD 1.5 billion in the first two-months of the 2014-15 fiscal.
In 2013-14, the sector has received total FDI of USD 1.3 billion.
FDI in the telecom sector, which includes radio paging, cellular mobile, basic telephone services, attracted only USD 9 million during April-May period of the last fiscal, as per the Department of Industrial Policy and Promotion.
New Delhi: The country's largest mobile operator, Bharti Airtel, on Tuesday reported a jump of 60.9 percent in consolidated net profit to Rs 1,108 crore for the quarter ended June 2014 on growth in mobile data revenue.
The company had reported a net profit of Rs 689 crore in the corresponding period of last fiscal, it said in a statement.
The company's total revenue rose 13.3 percent to Rs 22,962 crore for the reported quarter as compared to Rs 20,264 crore in the corresponding period.
New Delhi: State-run MTNL has informed the Department of Telecom that it is ready to return the entire CDMA spectrum it currently holds if the telecom operator is paid auction-determined price.
"MTNL has offered to surrender entire 800 Mhz band spectrum but it wants an auction-determined price for the surrendered frequencies," a government official said.
As per TRAI recommended price, the value of CDMA spectrum held by MTNL amounts to about Rs 1,937 crore.
New Delhi: Telecom operator Idea Cellular today posted 57 percent jump in net profit at Rs 728.2 crore for the first quarter ended June 30, 2014, on increased demand in mobility business mainly mobile internet services.
The company had posted a profit after tax of Rs 462.71 crore in the same period a year ago.
Beijing: Sales revenue of China's telecom major Huawei has reached over USD 21 billion in the first six months of this year, a 19 percent increase compared over the same period last year, the company announced here on Monday.
The Shenzhen based firm, in a statement, said that in the first six months of this year, Huawei generated sales revenue of RMB 135.8 billion (USD 21.85) an increase of 19 percent year-on-year with an operating margin of 18.3 percent.
New Delhi: State-run telecom firm MTNL has shown profit of Rs 7,825 crore on books for 2013-14 on account of some write back provisions, Parliament was informed today.
The telecom firm had last posted annual profit of Rs 211.7 crore in 2008-09.
"MTNL has shown profit of Rs 7,825 crore mainly due to write back of provisions on account of pensionary liabilities and spectrum amortization costs after decisions of government taken revival of MTNL," Telecom Minister Ravi Shankar Prasad informed Rajya Sabha in a written reply.
MTNL, which operates in Delhi and Mumbai, had posted a loss of Rs 5,321 crore in the year 2012-13.
New Delhi, July 14 : Referring to the TRAI (Telecom Regulatory Authority of India) Amendment Bill, former union minister Shashi Tharoor said Monday that the law should not be changed on the basis of an individual's preference, which in this case was the Prime Minister of India.
Indore - Public sector telecom major BSNL enjoys number one market position with 1.8 crore landline and broadband connections which amounts to 65 percent market share, a company official said Friday.
"At present a total of 2.8 core landline and broadband users exist in the country and among them BSNL's share is 1.8 crore, which is 65 percent of the total market share," BSNL's Madhya Pradesh Circle Chief General Manager, N K Yadav told reporters.
During the current financial year, the company expects an increase of 25 percent in broadband connections across the country, he said.
Mumbai - Shares of Bharti Airtel Friday rose by over 2 percent after the Reserve Bank increased limit for overseas investors to buy shares in the company.
After a positive opening, the telecom major's scrip further gained 2.32 percent to Rs 345.20 on the BSE.
On the NSE, the stock was up 2.44 percent to Rs 345.20.
New Delhi: Reliance Communications, India's fourth-largest telecom operator, Wednesday raised Rs 4,800 crore from a share sale to institutional investors, the biggest QIP fund-raising by a private firm.
RCom, headed by billionaire Anil Ambani, will also raise Rs 1,300 crore by issuing warrants to its promoters, which along with the QIP proceeds would go to trimming the firm's huge debt.
The company, which opened the qualified institutional placement (QIP) at a price of Rs 142.13 a share, got total bids of more than Rs 12,000 crore, of which it retained Rs 4,800 crore, sources said.
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