Move to address MNCs' taxation woes; UK likely to be the next.
All these measures will revitalise the manufacturing sector, which has been in doldrums.
Rules applicable from April 1, 2014; investors who have already redeemed will also have to pay tax
Leeway on CRR and SLR was a long-standing demand from banks, which the RBI did not agree to till recently.
Finance Minister Arun Jaitley is unlikely to heed economists' suggestion that an inheritance tax be introduced in Budget 201415 as an additional revenue stream.
Finance Minister Arun Jaitley is unlikely to heed economists' suggestion that an inheritance tax be introduced in Budget 201415 as an additional revenue stream.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
The ministry is likely to go by the recommendations of a committee on liberalising external commercial borrowings, headed by M S Sahoo, a former director with the Securities and Exchange Board of India.
The company moved the income-tax appellate tribunal and its appeal is pending there.
FinMin plans tougher targets for bad loans, Casa and others in performance-linked pay for senior management.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
Green signal from Jaitley; CVC okays Hemant Contractor for head of PFRDA
Finance ministry considers tax sops, regulation of hospitals to make health care affordable.
The Financial Sector Legislative Reforms Commission had in a report last year proposed a unified regulator for the entire financial sector -- markets, insurance, commodities and pension. It had, however, proposed to keep banking out of its purview for now.
Vodafone's long-pending tax dispute with the government might be heading for a resolution, with the finance ministry considering changing the Income-Tax Act's retrospective amendment and taxing indirect transfer of assets prospectively from 2012, the year the law was clarified.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
This will add to the woes of the conglomerate that had received a show-cause notice from the Directorate of Revenue Intelligence (DRI) last week for alleged over-valuation of imported machinery by Rs 2,000 crore.
Under new government, tax office to explore ways to reduce disputes.
A decision by P Chidambaram in his last days as finance minister has annoyed the revenue department.
Indirect tax collections saw only a meagre 3.5 per cent growth, as mop-up from Customs fell sharply on account of a drop in imports.
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