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.
Buyer to pay tax on gains made on undervalued property purchase.
Separate investment limits have been proposed for life and health insurance premium.
A sluggish industrial growth has impacted the corporate bond market, too.
Concern has been raised on the method of identification for providing tax credit and the requirement of a permanent account number for deduction of withholding tax. Industry had raised these two issues before a Central Board of Direct Taxes committee looking into the matter, said a senior finance ministry official.
Move seen as prelude to GST rollout; rules for Cenvat credit also likely to be simplified.
Some companies are charged with undervaluing their assets.
As on December 31, government stake in IndianOil stood at 78.92 per cent.
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.
Move could be a major relief to Vodafone.
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
From the next financial year, the government will utilise the disinvestment proceeds for recapitalisation of banks and for subscribing to the shares of Central Public Sector Enterprises and preferential allotments.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances