Indian exchanges see spurt in volumes due to the entry of newcomers to the trade
Finance Minister Arun Jaitley, in his Budget speech on Monday, announced a new dispute resolution mechanism for such companies who are in confrontation with the taxman's action.
DTC task force also favoured doing away with Dividend Distribution Tax by suggesting taxing dividends in the hands of shareholders.
The loss in Bihar has forced a change in NDA's market positioning, says Shekhar Gupta.
The announcement left many importers and exporters wondering what he intended, when the practice in most EDI Customs stations is to carry out assessments on selected bills of entry based on risk parameters and to allow the other consignments to be cleared on the basis of the declarations of the importer or exporter.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Yadav said the nationwide strike has affected over 35 lakh (3.5 million) people.
India will become self-sufficient in urea production in five years.
'Nirmalaji's Budget announcements have long-term implications and are not backed by enough money when the short-term outlook looks bleak,' notes T N C Rajagopalan.
The Finance Ministry will soon unveil the simpler income tax return form 'Sugam', which is aimed at reducing compliance burden on small businessmen and professionals.
Lalu Prasad, who became the railway minister in May 2004, surprised the world in 2008 with the 'magic' turnaround he effected for the near-bankrupt railways, claiming to have created a surplus of Rs 25,000 crore (Rs 250 billion.
Tax experts say one of the most dispute-prone proposals is making "fraudulent availing" of input tax credit (ITC), without an invoice or bill, a cognizable and non-bailable offence.
Sushil Munhot, executive director & head-personal banking, IDBI Bank, says, "Any housing loan of up to Rs 25 lakh will come under priority sector lending, as it is to provide affordable housing. But we do no know when will it come into effect."
Markets may have initially cheered the FM's static borrowing numbers, but the picture may not be as rosy.
Traders caution that branded jewellery customers may start opting for substitutes as high prices of previous metals and stones have already made buying any luxury items unaffordable for most of the middle class.
Yesterday's Budget, last week's Economic Survey and the coming Approach Paper to the Twelfth Plan will provide the compass to help India navigate the uncertainties of the post-crisis world.
Government has set up a Financial Sector Legislative Reforms Commission to streamline the financial sector laws.
There are allegations that MFIs are charging exorbitant interest rates and using strong-arm tactics to recover the loans.
Expressing "serious concern" over the generation and circulation of black money, Finance Minister Pranab Mukherjee today said the government has adopted a five-fold strategy to deal with the menace.
Going by the current pace, UIDAI seems unlikely to meet the target of issuing a million Aadhaar numbers a day to cover half the country by 2013.
Complimenting the police for unearthing the corporate espionage racket, Delhi Chief Minister Arvind Kejriwal said it should now target the "top people" benefiting from the leak.
The infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
The Centre on Monday earmarked a separate Rs 2,217 crore for 42 urban centres to tackle air pollution and announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles, even as it shrunk the budgetary allocation for the environment ministry from the last fiscal by nearly eight percent. Union Finance Minister Nirmala Sitharaman, in her budget speech for 2021-22, announced a total of Rs 2869.93 crore for the ministry, Rs 230 crore less than the last fiscal. Officials said the outlay has been lesser this time as the economy is recovering from the COVID-19 pandemic.
After a marathon discussion lasting nine hours, the motion was defeated with 87 members opposing it and 40 supporting in the 140-member house with two vacancies.
Budget for women and children welfare increased from Rs 1,56,528 crores to Rs 1,84,632 crores for 2017-18
'That Modi and the BJP can continue to treat the rising and expanding middle class this way shows that they have gamed its mind quite perfectly,' argues Shekhar Gupta.
To check black money menace, the Cabinet on Tuesday approved a new bill that would give more powers to the tax department in tracking illicit wealth stashed abroad and provide for strict penal actions for such offence.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
India's per capita expenditure on defence is less than $10, while the average expenditure of the top ten spenders in Asia is $800 approximately.
Under the proposed mechanism, the finance ministry has said banks will notify customers when someone tries to deposit money in their accounts, a government official said.
Finance Minister Pranab Mukherjee on Monday proposed to introduce a new simplified income tax return form 'Sugam' to reduce compliance burden of small taxpayers.
Government originally planned to roll out GST from April 1 last year, but a consensus could not be reached on the introduction of the Bill.
Railway Minister joked, broke into poetry and even lost her cool during her 90-minute budget speech.
In Jammu & Kashmir, the minister proposed to set up a bridge factory.
While a host of pro-public announcements made by her in the last Railway Budget (2010-11) have been implemented, Indian Railways' finances have gone from bad to worse.
For the last eight months, the toy train service between New Jalpaiguri and Darjeeling is partially suspended, following a landslide and the authorities are unsure of when the narrow gauge route would be revived.
Combating inflation, protecting the common man from the impact of rising food prices and sustaining the momentum of economic growth while ensuring the poor get a fair share of the "fruits of growth" are among the government's "foremost priorities" in 2011-12, President Pratibha Patil said in her address to Parliament this week.
Economic growth should be accompanied by social and political stability.
The railway minister's indifference to her portfolio, the hesitation to install anti-collision devices that cost Rs 250,000 per km and the debate over the efficiency of home-grown technology are leading to more accidents.
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