Finance Minister Arun Jaitley to

launch enhanced 'single window'

website for taxpayers
The website will be more more user-friendly and robust, so that it can handle many hits at a
time.

Taxpayers will now be able to perform their I-T related works like filing returns or applying for a PAN
card from an enhanced single website to be launched tomorrow by Finance Minister Arun Jaitley.
An updated version of the existing website of the Income Tax department-- www.incometaxindia.gov.in--
will now be acting as a "single window" for all activities and online services offered by the I-T department,
officials said.
The website will be more more user-friendly and robust, so that it can handle many hits at a time.
"The new website will have enhanced features and will be more customer friendly.
The taxpayers will be able to file their I-T returns online and even apply for a PAN from this portal which
was till now hosted on a different official web address of the department.
"The spruced up website is more robust and can handle the pressure of numerous hits at one time," an
official said.
It will also be more colourful with different icons marking separate activities as compared to the earlier
version which only had two dominant shades of dark blue and white.
The website will also allow taxpayers to know about the I-T Act, various notices and circulars being issued
from time to time and regular developments in the department.
The Central Board of Direct Taxes (CBDT) had envisaged such a website in its ambitious 'Vision 2020'
document prepared a few years back and the new website will be a culmination of efforts to give better
services to taxpayers, they said.
Jaitley will launch the enhanced portal tomorrow by the click of a button from his office in North Block
here in the presence of senior officials of CBDT and I-T department.






GST implementation from April 2016 feasible:
Official
New Delhi, Sep 20 (IANS) The implementation of goods and services tax (GST) from April 1,
2016, could be feasible and depends on how fast pending issues are resolved, Revenue Secretary
Sakti Kanta Das said Saturday.
"The deadline for actual implementation of GST from April 1, 2016, would be feasible. It all
depends on how quickly we are able to reach consensus on critical issues," he said at an event
here.
The implementation of GST, which aims subsuming most of the indirect taxes in the central and
state levels, at has been pending since 2006, with states proposing to keep some items like
petroleum, tobacco and alcohol out of its ambit.
"The discussions are at a very critical stage and we hope to make very good progress. We are
quite optimistic we will be able to reach convergence in the coming weeks or months," Das said.
On the compensation front, the states have sought a five year compensation mechanism from
the central government.
There are four to five issues with the states that are outstanding, Das said, adding that there
were discussions on each in the recent weeks.
"We hope and we are quite optimistic that we will be able to resolve in the coming months,
which will enable the government to introduce the constitutional amendments in parliament,"
he added.

Yahoo Is Both Winner and Loser in
Alibaba's IPO
Yahoo! (YHOO) is having a heck of a day. The company just sold a
chunk of Alibaba(BABA) stock as part of that companys initial public
offering that was worth a cool $9 billionas much as Yahoo has
made in revenue over the last two years. At the same time, the value
of Yahoos remaining Alibaba stock climbed to about $37 billion (the
company owns about 401 million shares). But Yahoos own stock
lost 3.5 percent of its value, or $1.5 billion in total market cap,
dropping the company to an overall valuation of $40.4 billion.
These things are related. For years, Yahoos large stake in Alibaba
made it the best way for American investors to get a piece of the
Chinese e-commerce company. Now you can invest directly in
Alibaba, and you dont have to be saddled with the Yahoo assets,
says Laura Martin, an analyst at Needham, which has a hold rating
on Yahoos stock. Not everyone swapped out their Yahoo shares
today, she says, but many did, and more will in the days to come.
Yahoo has said that it will send at least half of the cash it makes
from the Alibaba sale back to shareholders. Once it has done so,
there will be one less reason for Yahoo investors to stick around.
Several people have suggested that the market has so undervalued
Yahoos core business that it could be a prime acquisition target
maybe even for Alibaba itself. (Bloomberg TVs Emily Chang asked
Alibaba founder Jack Ma about acquiring Yahoo this morning; he
demurred.)
VIDEO: How to Get In on the Alibaba Action with ETFs
Yahoo will still have plenty of cash to give it a go on its own. Much of
this, presumably, will go toward buying smaller companies, adding
to the 43 acquisitionsthe company has made since the beginning of
2013. Chief Executive Marissa Mayer has boasted that Yahoo as a
whole has seen traffic rise, but its yet to make a difference to the
bottom line. Yahoos revenue last quarter was lower than it was a
year earlier (and, in fact, lower than its revenue in the
corresponding period for every year since 2004). Its share of the
digital advertising market is set to drop to 2.5 percent in 2014,
according to EMarketer.
Yahoos investment in Alibaba has given it an opportunity to turn
itself around, first with years of financial cushioning, now with a big
chunk of cash. Few companies ever get the luxury of both time and
money. If Mayer cant make this work, shes got no one to blame but
herself.
Alibaba shares close 38 percent above initial
asking price on NYSE
London, Sep 20 (ANI): Chinese Internet giant Alibaba's shares closed significantly above their
initial price on the New York Stock Exchange (NYSE) on Friday, ending 38 percent above their
initial asking price.
Shares in the company made their debut in the US at 92.70 dollars, after being priced at 68
dollars late on Thursday. They ended at 93.89 dollars, 38 percent above the initial asking price.
More than 100 million shares were traded in the minutes after the stock was launched, more
than Twitter. Earlier in the day, founder and chairman Jack Ma rang the opening bell, The BBC
reported.
The NYSE was festooned with Alibaba's orange and white logos to herald its arrival on public
markets. The company raised nearly 21.8 billion dollars in its share sale, indicating strong
investor appetite for China's e-commerce giant.
Alibaba is now valued at 231.4 billion dollars, making it significantly larger than Amazon and
Facebook. If the Chinese giants' bankers decide to take up an option in which they can purchase
48 million shares themselves, then Alibaba's launch will have raised nearly 25 billion dollars,
breaking the previous 22.1 billion dollars record set by China's Agricultural Bank in 2010.
Currently Alibaba's single largest shareholder is Japan's Softbank, which holds a 32 percent
stake. US search giant Yahoo also has a stake, the report added. (ANI)

Alibaba shares surge 46 percent in their debut
REUTERS - Alibaba Group Holding Ltd's shares rose as much as 46 percent in their first day of
trading on Friday, lifting the Chinese online retailer's value to $244 billion.
The company's initial public offering, on track to be the biggest ever if underwriters exercise
their option to sell more shares, will help fund Alibaba's expansion in the United States and
elsewhere.
The sale raised more than $8.2 billion for the company after fees for underwriters, and about
$13 billion for major shareholders.
Alibaba's shares were trading at $99 on the New York Stock Exchange at 11:58 a.m. ET, versus
the IPO price of $68.
(Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty)


Sensex, Nifty range-bound around record highs
Mumbai, Sep 20 (IANS) Healthy buying by foreign and domestic investors on the back of as the
US Fed announcement of maintaining a near zero percent interest rates even after the end of its
bond-buying programme ends helped markets to remain range bound to 27,000-point mark in
the week ended Sep 19.
The over positive sentiment coupled with expectations of further reforms helped the Indian
equities markets to remain high.
"Markets are in a consolidation mode with benchmarks remaining almost flat during the week.
However, markets have sustained at near all-time highs, which reflects the strength of the
market," said Dipen Shah, head- private client group research, Kotak Securities.
"There was relief on the US Fed not giving any indications of an early increase in interest rates.
In these times, when market sentiment is strong and small and midcaps are making new highs,
our advice to investors would be to remain discrete and look to stay invested in quality
companies with good management track record."
The benchmark Sensex gained marginally by 1.12 percent in the week ended Sep 19 from its
previous weekly close on Sep 12. The index closed at 27,090.42 points, while it ended trade at
26,816.56 points on Sep 12.
The benchmark Sensex gained marginally by 0.02 percent in the week ended Sep 12 from its
previous weekly close on Sep 5. The index closed at 27,061.04 points, while it ended trade at
27,026.70 points on Sep 5.
The FPIs bought shares worth $354.24 million or Rs.2,159.67 crore during the week ended Sep
19, according to data with the National Securities Depository Limited (NSDL).
For the week ended Sep 12, the FPIs had bought shares worth $445.32 million or Rs.2,693.02
crore, which helped propel the Indian equities market to subsequent new highs.
The foreign institutional investors (FIIs) along with sub-accounts and qualified foreign investors
have been clubbed together by market regulator Securities and Exchange Board of India
(SEBI)to create a new investor category called FPIs.
The FPIs had remained net buyers Friday. They bought shares worth $25.31 million, or
Rs.154.53 crore, on Sep 19.

On Friday, the 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE),
which opened at 27,139.39 points, closed trade at 27,090.42 points, down 21.79 or 0.08 percent
from the previous day's close at 27,112.21 points.
Major Sensex gainers on Friday included Tata Consultancy Service (TCS), up 2.71 percent at
Rs.2,708.05; Maruti Suzuki, up 1.29 percent at Rs.3,084.95; Cipla, up 1.22 percent at Rs.627.80;
HDFC, up 1.08 percent at Rs.1,065.30; and Wipro, up 0.98 percent at Rs.586.65.
Major Sensex losers on Friday included Larsen and Toubro, down 2.51 percent at Rs.1,535.30;
ONGC, down 2.26 percent at Rs.405; State Bank of India (SBI), down 1.92 percent at
Rs.2,568.50; Hindustan Unilever, down at 1.73 percent at Rs.737.55; and Hero MotoCorp, down
1.57 percent at Rs.2,951.05.

FPIs continue to invest in Indian markets
Mumbai, Sep 20 (IANS) Foreign Portfolio Investors (FPIs) continued to buy into the Indian
equities market in the week ended Sep 19, buoyed by the US Fed announcement that it will
maintain interest rates to near zero for a "considerable time" even after its bond-buying
programme ends, as also stable government policies.
The foreign institutional investors (FIIs) along with sub-accounts and qualified foreign investors
have been clubbed together by market regulator Securities and Exchange Board of India (SEBI)
to create a new investor category called FPIs.
The FPIs bought shares worth $354.24 million or Rs.2,159.67 crore during the week ended Sep
19, according to data with the National Securities Depository Limited (NSDL).
For the week ended Sep 12, the FPIs had bought shares worth $445.32 million or Rs.2,693.02
crore, which helped propel the Indian equities market to subsequent new highs.
"With the US rate rise possibilities becoming a more distant reality, emerging economies
including India can expect to keep their hot monies "hot" for some more time," said Debopam
Chaudhuri, chief economist, ZyFin Research.
"This is critical for India under current circumstances when the domestic economy is
undergoing a healing process."
The FPIs had remained net buyers Friday. They bought shares worth $25.31 million, or
Rs.154.53 crore, on Sep 19.
Expectations of stable growth coupled with an overall expectation of a further reform push by
the new government have led to positive investor sentiments.


Gold down, silver hits four-year low on strong
dollar, equities
NEW YORK/LONDON (Reuters) - Gold fell on Friday to its lowest price since January, and
silver slumped to a four-year low as the dollar soared to its highest against the euro in four years
on bets that U.S. interest rates will rise sooner than expected.
The dollar rose against a basket of currencies, on track for its 10th straight week of gains.
[FRX/]
The S&P 500 equities index rose to an intraday record high, as Alibaba Group Holding Ltd's
shares surged in their first day of trading in what looks likely to be the largest IPO in history.
[.N]
"It's the same story since last week. Gold is under pressure with the dollar at an extremely lofty
level, U.S. equities at all-time high, and expectations that U.S. interest rates will rise eventually,"
said David Meger, director of metals trading at brokerage Vision Financial.
Spot gold was down 0.5 percent at $1,218.46 an ounce by 11:52 a.m. EDT (1552 GMT). The
session low of $1,214.29 was the lowest since Jan. 2.
For the week, gold was on track for a near 1 percent drop.
U.S. COMEX gold futures for December delivery slid $7.80 to $1,219.10.
Economic optimism has sapped gold's safe-haven appeal. U.S. economic activity rose less than
expected in August, but was still consistent with a moderate expansion, The Conference Board
said on Friday.
Among other precious metals, silver was down 2.5 percent to $18.01 an ounce. It touched
$17.81, its lowest since August 2010.
Technical selling after silver broke below the $18 level accelerated the metal's drop, traders said.
Platinum dropped 0.7 percent to $1,333.75 an ounce and palladium fell 2.1 percent to $810 an
ounce.
(Additional reporting by A. Ananthalakshmi in Singapore; Editing by Mark Potter, Clara
Ferreira Marques and David Gregorio)






Another China-Japan Fight, This
Time Over Condoms

Will the indignities suffered by Japan Inc. never end? A day
after Sony (SNE), which has been struggling to compete in
smartphones and televisions against such upstart Chinese brands as
Xiaomi and Hisense Electric (600060:CH), announced it wouldpost a net
loss of 230 billion yen ($2.1 billion) in the current fiscal year, a
Chinese company filed a lawsuit against another champion of
Japanese industry, Okamoto Industries (5122:JP).
Okamoto, like Sony, is a powerhouse with a proud history of
innovation. Sony had the Walkman and the Trinitron; Okamoto has
the Crown and the Big Boy, two of the companys brands of
condoms. What Sony was to Japanese consumer electronics,
Okamoto still is to Japanese safer sex. Okamoto has been pursuing
and challengingan ultimate Nothing-like feeling over 75 years, the
company says on its website, pushing the boundary by the worlds
most advanced technology.
How advanced is that technology? Okamoto boasts on its website
that, when it comes to comfort and size, nobody does it better. Its
condoms are softer than others, it says on its website, adding
helpfully that any doubters should give its products a try by
swelling up the condoms by yourself. The condoms are not only
soft; they are also lithe: Okamoto is able to manufacture the worlds
thinnest latex condoms which conform to the requirements of ISO
4074:2002, according to the company.

Theres the rub. A Chinese company, Guangzhou Daming United
Rubber Products, says no, it makes the worlds thinnest condoms
the Aoni ultrathin 001. Guinness World Records confirms that claim,
having verified last year that Daming United makes condoms with
an average thickness of just 0.036 millimeters, or 0.001417th of an
inch. The China Daily reports today that Daming United has filed a
lawsuit against Okamoto, challenging the Japanese manufacturer
for saying its condoms are the thinnest.
Victor Chan, Guangzhou Damings managing director, didnt
immediately respond to requests for comment, while Okamoto told
Bloomberg it had not yet received notice of the lawsuit so would
refrain from commenting. So far, though, the threat of litigation
hasnt deflated Okamotos stock price: The companys shares have
gone up nearly 30 percent this year and are trading near their 52-
week high. In the April-to-June quarter, net profit increased 24.7
percent year on year, to 1.1 billion yen, on sales of 17.8 billion yen.
Return of the $3 Gallon? U.S Gas
Prices Are Falling Fast
Here is the price of gasoline in the U.S. so far this year:

The national average price of regular unleaded, now at $3.38 a
gallon, is down 8 percent from the end of June. Tom Kloza, chief oil
analyst at GasBuddy.com, thinks this year will bring the cheapest
autumn gasoline prices since 2010. Last year drivers spent $40
billion at the pump in September, and Kloza thinks that bill will be
at least $2 billion lower in 2014. The savings at the pump should
help stimulate consumer spending in other parts of the economy.

Gas prices are cheapest in the South and highest in the Northwest.
Shale oil being produced in North Dakota and Texas has had an
easier time traveling south and east, while fewer trains have headed
west, across the Rockies and into Washington and Oregon (though
that is starting to change). Still, its a big difference. The average
gasoline price outside Little Rock, Ark., is $3.05; near Seattle, its
$3.87.
This all starts with the price of oil, which makes up 66 percent of the
cost of a gallon of regular gasoline. International crude prices have
fallen 16 percent since the end of June, and U.S. prices have
dropped more than 11 percent. Different parts of the country use
different sources of oil to make gasoline. Most imported blends of
light, sweet crude no longer come into the U.S. Gulf Coast, by far the
biggest refinery base in the U.S.
Refiners are also getting ready to switch to the winter blend of
gasoline, which is cheaper to produce but fetches lower prices. Over
the last three years, the price of gasoline from September to
November has fallen by an average of more than 30 a gallon. If that
trend continues in 2014, it could put prices in some parts of the
country below $3.
Unexpected events could always shake the oil marked. With the U.S.
and its allies planning to step up attacks on ISIS this fall, oil prices
could certainly spike by the end of the year. As long as U.S.
production keeps rising, however, it should help keep prices in
check.
India, China sign 12 agreements

NEW DELHI, SEPT 18:
India and China today exchanged 12 documents, including one on five years economic and trade
development plan.
An agreement on audio visual co-production, two documents on railways, another document on work
plan for drug administration and an MoU on culture were exchanged between the two countries.
An MoU on peaceful use of outer space and a twinning agreement between Shanghai and Mumbai were
also signed.
Prime Minister Narendra Modi said that Chinese President Xi Jinping has assured that he will take
concrete steps to correct the trade imbalance and give more market access and investment in China.
Modi has invited Chinese investments especially in Infrastructure. China has committed to invest $20
billion in five years.
Concrete steps on railways were also discussed between Modi and Jinping.
Modi said that China has agreed to allow new route from Nathula to Kailash Mansarovar. This will also be
usable during rains.
The Prime Minister has expressed concerns over what happened at the borders. Both of them discussed
openly and touched on difficult issues, he said, adding that boundary issues will sorted out soon.
Modi told the Chinese President that clarification on line of control can help. He says that this has been
stopped for several years and should begin again.
The Prime Minister added that in connection with regional connecivity, the BCIM (Bangladesh, China,
India and Myanmar) trade corridor was also discussed.