Tax department plans to link PAN with the bank account number to eliminate the scope of the amount being transferred to a wrong account number.
Govt moves to bring in more clarity on definition of 'control'.
May emphasise that the country is back on the fiscal consolidation path by reining in fiscal deficit at 5.2%.
The official added though this would be the last batch of letters this year, more PAN card holders would receive such notices from the income tax department next year.
That bliss is set to end soon, with the finance ministry planning to make it mandatory for individuals and Hindu undivided families to report assets and liabilities in income-tax return forms.
Separate investment limits have been proposed for life and health insurance premium.
Move seen as prelude to GST rollout; rules for Cenvat credit also likely to be simplified.
As part of Budget 2013-14 proposals, it is considering widening the scope of source-based taxation to more areas to improve reporting mechanism for transactions.
FM to meet states on Feb 14, approve key decisions.
Also being considered is Rs 50 lakh-1 cr taxable income bracket.
Despite lobbying by bourses, FinMin mulls tax to monitor the market.
To encourage investment, govt may instead offer investment-linked incentives.
Floor rate with a narrow band to be fixed.
Centre, states clear first hurdle, agree on compensation formula for losses on account of reduction in Central Sales Tax rate.
The form will be redesigned in such a way that investors could fill up most of the details themselves
Hit by slackening demand amid economic slowdown and high interest rates, the real estate sector has asked for infrastructure status for the housing sector in the Budget for 2013-14, which would help it avail of tax benefits and easier flow of credit.
The finance ministry is considering raising import duty on gold by two percentage points to six per cent, as the surge in demand for the yellow metal threatens to further widen India's current account deficit.
During the 'lowering of flags' before sunset, the stern expression on the faces of the Border Security Force jawans might lead a first-time visitor to think it's because of the tension at the line of control two days earlier.
The bank, however, may not start functioning before 2014 and is likely to have substantially less initial paid-up capital than the amount of $240 billion that is doing the rounds currently.
The industry describes projects priced beyond Rs 5 crore (Rs 50 million) in Delhi and the National Capital Region region as luxury, but the benchmark is Rs 10 crore (Rs 100 million) for Mumbai.
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