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.
According to an official source, the Rs 8,000-crore (Rs 80-billion) capacity expansion plan by Chennai Petroleum Corporation Ltd may get hit as European companies are reluctant to give technology licensing for the upcoming six-million tonne units.
Underrecovery from sensitive petroleum products seen at Rs 1,55,000 cr in current fiscal.
Separate investment limits have been proposed for life and health insurance premium.
Under the current agreement, a dealer of a state-owned firm is allowed to sell only that OMC's products
Under the current agreement, a dealer of a state-owned firm is allowed to sell only that OMC's products.
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.
Bangladesh government has shortlisted bidders for a 5-mt LNG terminal at Moheshkhali island in the Bay of Bengal.
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
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