Posts Tagged ‘star tv’

Star TV to shell out more money to IT Department

March 16, 2008

The channels of Star Television India Private Limited will have to shell out more money to the Income Tax (IT) Department than it has offered to pay. The Bombay High Court on Wednesday admitted the appeal filed by the IT Department against the order of the Settlement Commission allowing Star Group to pay Rs 1,300 crore and settle the matter.

Mohan Paearasaran and Beni Chatterji, counsel for IT, said that the Star Group disclosed Rs 150 crore later. Hence their first application was not true and did not give full disclosure, said Chatterji.

“If their entire revenue was considered then their dues would be over Rs 2,600 crore plus interest plus penalty. Hence the matter should not be settled by the Settlement Commission,” argued Chatterji.

There were numerous litigations pending against the Star Group with the IT Department with regard to taxable income of the 11 channels. The channels have not paid the income tax, stating that all of them are registered in the British Virgin Islands.

However, the IT department claimed that monies were being transferred from India. The Indian unit is collecting revenue to be transferred abroad, which ought to have been deducted as TDS as per the IT Act.

The group approached the Income Tax Appellate Tribunal (ITAT), which upheld the claim of the IT Department. The group approached the HC against the order of the ITAT.

Meanwhile, the group made an application before the Settlement Commission to settle the entire issue by offering to pay tax, which was 29 per cent of the revenue that was sent abroad.

According to Star, they had transferred Rs 5,000 crore abroad in July 2007 and were willing to pay Rs 1,300 crore. The Settlement Commission admitted the Star’s application, whereby the group would be let off after paying a little over Rs 1,300 crore.

James Murdoch is Chairman, News Corp Europe & Asia

December 8, 2007

James Murdoch has been appointed Chairman and Chief Executive, Europe and Asia, News Corporation. In this new role, Murdoch will take direct responsibility for the strategic and operational development of News Corporation’s television, newspaper and related digital assets in Europe, Asia and the Middle East.

This new structure follows a decade of rapid growth for News Corporation in these regions and will allow for more cohesive management of the operating units, which include News International UK, Sky Italia, Star Group Ltd. and News Corporation Europe. Murdoch will rejoin the Board of Directors of News Corporation, on which he served from 2000 to 2003, and become a member of the Office of the Chairman, Rupert Murdoch. He will report to Peter Chernin, President and Chief Operating Officer of News Corporation. Murdoch will be based in London and takes up his role immediately.

In a separate announcement made today, British Sky Broadcasting Group plc (BSkyB) announced that James Murdoch has resigned as Chief Executive Officer of BSkyB and has been appointed Non-Executive Chairman, succeeding Rupert Murdoch, who has stepped down as Non-Executive Chairman and as a Director. James Murdoch has served as BSkyB’s Chief Executive since 2003. The Board of BSkyB has appointed Jeremy Darroch as Chief Executive. Darroch previously served as BSkyB’s Chief Financial Officer since 2004.

Rupert Murdoch, Chairman and Chief Executive Officer of News Corporation, said, “James is a talented and proven executive with a rare blend of international perspective and deep, hands-on experience in improving operational results. He has transformed Sky, which is now not only Europe’s most valuable television company, but also the fastest growing challenger in the much larger UK marketplace for entertainment, broadband and telephony. His experience at Sky, combined with his track record in Asia while running Star , and prior roles, make him uniquely qualified to take forward these exciting businesses that have grown so much over the last decade. This is the right time to align our operations in Europe and Asia under new, structured group leadership.”

James Murdoch said, “I am excited to be rejoining News Corporation in this new role leading News Corporation’s businesses across Europe and Asia, and I am delighted to continue working with the exceptional team at Sky in my new role as Non-Executive Chairman and as a Director. News Corporation is the world’s most global media company, made up of extraordinary and committed individuals that I am privileged to be joining. Media is fundamentally a business of ideas where top-quality, professional journalism and creative entertainment have an extremely bright future — significant value can be created by focusing on pace, execution and taking advantage of the sea change we are seeing in media.”

Hai Tv Tuners !

November 6, 2007

Welcome to TvToday All the Latest new on World Televisions and their moves (presentely concentrating on tamil/india classifiaction) Please make your posting clear and appropriate 🙂

Happy Tv Tuning,