Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
With less than six months left for this financial year and poor response from applicants, launching the scheme this year is unlikely.
'Tax cases are technical in nature... Many high courts do not have a tax bench, which also contributes to the delay.'
IBBI removes sale of company as going concern in liquidation; now only asset sales allowed, shifting focus strictly to terminal liquidation process.
BJP MP and actor Ravi Kishan has been awarded the Sansad Ratna for his outstanding performance in the Lok Sabha, becoming the first actor-turned-politician to receive the honour.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
Sinha said that he was not invited for "any party events, rallies or organizational meetings".
Finance Minister Nirmala Sitharaman on Tuesday met top officials of the finance and corporate affairs ministries to review the implementation of various announcements of the Union Budget FY24. "The finance minister underlined the importance of continuous assessment of progress to ensure that various announcements are implemented in a time-bound manner," the finance ministry said in a tweet. Sitharaman also discussed in detail various issues on the digital competition laws with Rajeev Chandrashekhar, the minister of state for entrepreneurship, skill development, electronics and technology.
Congress leader in Lok Sabha Adhir Ranjan Chowdhury and some other MPs suspended from Parliament will not be able to attend the meetings of parliamentary committees of which they are a member or chairperson till their suspension is revoked.
We have the workforce, now we need to ensure that we take full advantage of game-changing technologies and geopolitical openings, suggests Jayant Sinha, chairman, Parliament's Standing Committee on Finance.
India must be prepared to deal with climate disasters, geopolitical confrontations, and social strife linked to global events, asserts Jayant Sinha, chairman of Parliament's Standing Committee on Finance.
Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
The government is likely to introduce a bill on crypto currencies during the winter session of Parliament beginning November 29, amid concerns over such currencies being allegedly used for luring investors with misleading claims and for funding terror activities, sources said on Monday. Currently, there are no particular regulations or any ban on use of crypto currencies in the country. Against this backdrop, Prime Minister Narendra Modi, on Saturday, held a meeting on the crypto currencies with senior officials and indications are that strong regulatory steps could be taken to deal with the issue.
Currently, there is no regulation or any ban on the use of cryptocurrencies in the country.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
The RBI governor, who made a presentation about the state of the economy as well about the world economy to the 31-member Parliamentary Standing Committee on Finance, stayed clear of controversial questions like government invoking special powers.
The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the Budget next year, a top official said. Revenue secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services.
The Parliamentary Standing Committee on Finance reportedly discussed market volatility on Monday, which was its second meeting on the issue.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
Pakistan is yet to comply with 13 conditions out of the 27-point Action Plan of the FATF including curbing terror financing, enforcement of the laws against the proscribed organisations and improving the legal systems.
Bijayant Panda, the suave Biju Janata Dal MP from Kendrapara, said he was "shocked" at the news.
The cryptocurrency industry on Wednesday urged the government to take a nuanced approach towards regulating crypto assets in India and asked investors in the country to remain calm and not arrive at a rushed conclusion, a day after the government listed for introduction a Bill to ban all such cryptocurrencies, with some exceptions.
The government should shun populist measures and take tough decisions to rein in the fiscal deficit, says Yashwant Sinha.
Senior BJP leader Yashwant Sinha on Thursday said that the controversy-ridden Indian Premier League is nothing but a den for gambling where a lot of black money is involved.
After discussions, there may be changes the Bill.
The Parliamentary Standing Committee on Finance, chaired by BJP leader and former Finance Minister Yashwant Sinha, which met on Friday to discuss the chit fund scam, was of the view that there should be a 'single law and a single regulator' to deal with investment schemes, sources said.
Says Finance Ministry is working on tax structures as suggested by the Parliamentary committee
The Committee, in an earlier report on the Direct Taxes Code (DTC) Bill, had favoured abolition of STT.
Concerned over rising incidents of tax evasion, a Parliamentary Committee on Thursday asked the government to keep a close watch on high spending individuals and also take steps to reduce tax arrears.
Parliament's standing committee on finance, headed by Bharatiya Janata Party leader Yashwant Sinha, on Thursday finalised its report on the Companies Bill, 2011.
The parliamentary standing committee on finance has proposed a Securities and Exchange Board of India (Sebi) and Reserve Bank of India (RBI) co-ordination mechanism to monitor foreign investments in the stock market.
According to a presentation by LIC to Parliament standing committee on finance, total investment at the end of March 31, 2012 was Rs 13.49 lakh crore or Rs 13.49 trillion.
The government is likely to amend the death penalty clause in the Narcotic Drugs and Psychotropic Substances Act following observations of a Parliament Standing Committee.
The committee's objections are a curious mixture; some attack the very basis of the project, others question its implementation.
The committee's objections are a curious mixture; some attack the very basis of the project, others question its implementation.
Civil society groups welcome the submission of a memorandum opposing Aadhaar and other anti-people policies to the prime minister along with a big truckload of signatures numbering 3.57 crore on March 14, says Gopal Krishna
Standing committee on finance to also focus on RBI autonomy and citizen's rights.
The Standing Committee on Finance, which met under the chairmanship of senior BJP leader Yashwant Sinha, has decided to finalise its report by March 2, enabling Parliament to consider the ambitious reforms in direct tax regime.
The panel of Parliament examining the Direct Taxes Code (DTC) Bill has almost finalised its recommendations. It wants more taxpayer-friendly measures.
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