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.
Set to be allowed to apply for bank licences in the final guidelines expected by the end of the month
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.
The Reserve Bank of India is widely expected to reduce the repo rate for the first time in nine months when it announces its third quarter policy review.
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
Also on the cards could be the first interest rate reduction in nine months.
FinMin advice to include brokers & realty firms, debate over entry of industrial houses slow the process.
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.
While about 2,000 beneficiaries were transferred an amount of Rs 35 lakh (Rs 3.5 million) on the Aadhaar platform, the figure is expected to go up on Thursday.
As the deadline for direct cash transfer for subsidies in 43 districts nears, the government has started the mapping of gram panchayats to provide banking services in remote parts of the country.
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