-The Financial Express   Come next financial year, the PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money, tax evasion and instances of criminal financing in the country. A recent directive of the Central Board of Direct Taxes (CBDT) to the I-T Dept has asked its officials to launch a special drive against those who have "not furnished their PAN (Permanent Account Number)"...

-The Times of India In one of his most emphatic public statements reaffirming the return of 'equity' in India's climate change stance, Prime Minister Manmohan Singh said global cooperation on climate change "must be based on the foundation of the right to development and the need for an equitable distribution of burden".  Coming days before India makes its submission outlining the frame for a post-2020 climate regime, PM's statement was a closely...

-The Telegraph Income tax officials today searched the house and two dozen properties of a liquor baron said to be close to Mayawati, the simultaneous raids apparently throwing up a chest that needed gas-cutters to prise open. TV reports claimed the chest — found in the basement of a Noida mall said to be owned by Gurdeep Singh Chadha — could be stashed with notes worth over Rs 100 crore, but late...

The commerce ministry will announce rules to simplify and rationalize procedures to revive special economic zones, hoping to draw investors to these enclaves once touted as centres of export excellence.  The changes, which will be notified in a week, could include a reduction the minimum-area requirement, easier vacancy and contiguity norms and allowing multi-product SEZs in sector-specific zones.  "There will be reforms and changes in policies pertaining to SEZs mainly to simplify...

-The Financial Express Corporate fraud investigation body SFIO will have the power to carry out arrests once the new Companies Bill is passed by Parliament, Corporate Affairs Minister Veerappa Moily said today. "SFIO shall have the power to arrest in respect of certain offences of the Bill which attract the punishment for fraud. Those offences shall be cognisable and the persons accused of any such offence shall be released on bail subject...