In an hour-long chat on rediff.com on Thursday, DCW chairman Mudit Jain replied to many queries on how Budget affects the common people.
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
The council decided not to levy any additional tax on small petrol and diesel cars of up to 1200 cc as well as on hybrid ones.
Nirmala Sitharaman is proving to be a better finance minister than her initial rookie status might have led people to expect, observes T N Ninan.
On May 20, more than half dozen officials from Commercial Tax Department raided Kumar's shop which had been running for the past several years.
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Among smaller states having population of less than one crore, Meghalaya has been adjudged as the best performer. The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
The Budget has no reforms, no move to facilitate GST for next year introduced, too many exemptions given and hardly a few withdrawn.
India has been able to attract 40 global smartphone makers to the country -- creating at least 50,000 jobs. But GST could hurt that, discovers Ayan Pramanik.
Modi praised Tamil Nadu as a special place and lauded the Tamil language as eternal and its culture as global.
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
In part four of a series, Arbind Modi & Arvind Subramanian explain how scrapping the exemptions for the countervailing duty will eliminate the negative protection facing Indian manufacturers
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
The Finance Act, 2020, has inserted a sub-section, mandating a seller to deduct tax equal to 0.1 per cent of sale proceeds if the value of goods sold exceeds Rs 50 lakh in a financial year.
The government's capex spend is expected to rise and much of this is likely to be focussed on rural India, particularly for housing, roads and irrigation.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
A summary of sports events and sports persons, who made news on Sunday
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
The finance minister is likely to announce the government's vision for a tax-friendly regime by raising the I-T exemption limit from the current Rs 250,000 per annum.
Pharma body wants all excisable goods used for R&D purposes should be exempted from central excise duty.
The broader NSE Nifty, after shuttling between 10,649.25 and 10,782.30 points, finally settled 90.50 points, or 0.84 per cent lower at 10,663.50.
Finance Minister Nirmala Sitharaman on Friday announced a slew of measures to boost economic growth and address distress in various sectors
'Defence and aerospace show huge potential thanks to the government's Make in India push.'
Tax expert Anil Rego answers readers' questions about how Finance Minister Piyush Goyal's Budget affects you.
SEZs account for just about a third of India's merchandise exports (and roughly the same proportion of services exports). Yet, the notion of creating global manufacturing centres of the kind that propelled China to superpowerdom retains a durable appeal within the Indian policy-making establishment, notes Kanika Datta.
Optimistic buying in blue-chip stocks ahead of release of industrial production data for July and retail inflation for August drove stocks higher.
'Supplies should start moving to the Serum Institute without any impediments.'
Simplicity will make the Budget investment-friendly
Measures may include tax slab and rate revisions for individuals, companies.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
...for others it would be an incentive to participate more robustly in equities and other tax instruments.
Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
Finance Minister Arun Jaitley said the fiscal deficit slippage this financial year (2017-18) was largely statistical.
In an online chat with readers a few hours after the Union Budget 2015-16 proposals were announced by Finance Minister Arun Jaitley, Sundeep Agarwal, Director, PwC India, answered related queries to help put the announcements into perspective.
Customs and excise duty rates have been amended mainly to promote Make in India.
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