But contentious areas like special economic zones, capital gains and Ulips may see changes
Finance Minister Pranab Mukherjee had asked officials in his ministry to finalise the draft by August 20 so that it could be in Parliament before the session concluded on August 27, said a finance ministry official.
It is in these segments that the attrition rate is higher. Wipro witnessed an attrition rate of around 17 per cent in the last quarter. Even as the market awaits its results for the June quarter, the company is not willing to take any chance with its employees.
The changes to the original draft of the Direct Taxes Code are going to cost taxpayers, with the government planning to significantly alter the slabs.
The finance ministry introduced the tax for the first time on July 1, 2010. PVR Pictures, in its petition, alleged that copyrights are treated as goods and the transfer of copyrights are treated as sale of goods, which falls within the domain of taxation by states under Article 246, and not the Union.
Ravi Kapoor, head of global banking at Citi India tells that the success of the Centre's divestment programme hinges on attractive valuations
While saying money was due from Suzuki, the HC told the tax department to determine an appropriate arm's-length pricing mechanism in this case.
Mahindra & Mahindra, the diversified business group with significant interest in automotive and information technology, is looking at setting up an aircraft financing arm in Australia
The donations you make to religious bodies is not going to earn any tax exemptions, but the income of these entities will continue to get tax breaks, subject to certain exemptions.
Senior officials in the ministry told Business Standard the rate of taxation would remain the same in the final version of DTC.
At present, the threshold prescribed for imposition of Value Added Tax -- which will be abolished when GST comes into effect -- differs from state to state.
The government has once again tweaked the rules for selection of public sector banks chiefs.
The Bengaluru-headquartered company, which derives close to 26 per cent of its revenues from Europe, mostly from the UK, believes this approach will help it increase its footprint in non-English speaking European countries.
CRR is the proportion of deposits each bank must keep in the form of cash.
Come August 2011, N R Narayana Murthy -- the chairman and chief mentor of India's second-largest IT services firm Infosys Technologies -- will sport the designation of chairman emeritus. It is a position which Infoscions and the senior management team have decided to confer on the person who co-founded the company with six others almost 29 years ago.
Redrafting the Direct Taxes Code is proving to be an uphill task for the finance ministry, bombarded with comments from various stakeholders. The Central Board of Direct Taxes has received about 10,000 suggestions on the code, which seeks to replace the Income Tax Act of 1961.
The finance ministry has suggested forming a GST council, headed by the Union finance minister, to address disputes between the Centre and the states in the proposed GST regime.
Peter Gartenberg, SAP India Managing Director tells about the changes taking place at SAP globally
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