Budget may allow use of advance-pricing agreements for past cases.
The Finance Ministry has told industry it should not expect any major fiscal sops in the Budget to be presented by the new UPA government, which has a limited headroom for giveaways due to the economic slowdown.
The coming Union Budget might give relief to foreign portfolio investors from taxation on indirect transfers.
Uttar Pradesh Chief Minister Mulayam Singh Yadav on Friday presented a tax-free budget for 2003-2004 in the Vidhan Sabha with a net deficit of Rs 1,020.87 crore.
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
'Food inflation is important and if that is controlled, then consumption will go up.'
Finance Minister Nirmala Sitharaman on Saturday unveiled the budget for fiscal 2020-21, vowing to boost income of Indians and their purchasing power, in a bid to revive domestic economic growth that has slumped.
'The markets seem apprehensive and that explains why the markets have been feeling slightly uncomfortable ahead of the Budget.' 'After the event, when all the concerns are resolved and clarity emerges, markets will decide what to do next.'
"Of the structural reforms, the GST has been the most historic in our country. Its chief architect is not with us today. I pay homage to the visionary leader late Arun Jaitely. GST has been gradually maturing into a tax that has integrated the country economically," she said during her budget speech.
Finance Minister Arun Jaitley has announced no new taxes in the Delhi Budget.
These products are extremely transparent and are the lowest charged products in the insurance space. The policyholder has to only pay the fund management charge. Hence, from the cost side, ULIPs are very competitive.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
Budget 2018 bears imprints of a government unsure of second term with clear majority, says Shekhar Gupta.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
Archana Ramanan, a homemaker from Tamil Nadu, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
The Modi government is notoriously honest about one fact: It does not listen to economists, observes Shekhar Gupta.
Union excise duty collection dropped 18 per cent in August year-on-year at a time when the overall central tax kitty rose about 94 per cent before devolution to the states. The mop-up from Union excise duty declined to Rs 23,576 crore in August this year compared to Rs 28,816 crore in the same month a year ago. On the other hand, total tax collection rose to Rs 2.9 trillion in the month as against Rs 1.5 trillion in August 2022-23, shows the data released by the Controller General of Accounts (CGA).
The government will set up 16 new medical colleges over the next five years.
Can the finance minister manage our expectations, asks A K Bhattacharya.
The budget underscores government's previous emphasis on capex to sustain near-term recovery from the pandemic, while simultaneously paving the way for longer-term restructuring of the economy, it stated. But the various spending initiatives are not offset by any significant announcements related to further increase revenue generation; rather, the announced revenue-related measures are aimed at other objectives such as fostering startup innovation, ensuring more equitable treatment for cooperatives and state employees, and promoting tax compliance through simplification, Christian de Guzman, a senior vice-president, sovereign risk group, Moody's Investors Service, said.
Do the actual numbers bear out the claims made by the government or do they suggest something else? asks A K Bhattacharya.
The government has limited room to reduce expenditure without further weakening growth, it noted.
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
There is nothing to be worried about as bilateral ties are robust with solid foundations. Both are on the same page on the economic and defence/security ties bilaterally and globally and that shall continue irrespective of change in political dispensation in either country, points out Dr Rajaram Panda.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Indian companies are expecting generous tax incentives from the Union Budget that will help them invest more in building capacities in the coming years. While the productivity-linked incentives (PLIs) are a good start to spur local manufacturing, the government should also take steps to boost consumer demand, which is not showing encouraging signs, say chief executive officers (CEOs) of India Inc. Statistics released by the Reserve Bank of India (RBI) shows that Indian banks had sanctioned loans worth Rs 75,558 crore in 220 new projects - a record low - in the pandemic-hit financial year ending March 2021. This is not showing any signs of a significant pick up in the last nine months of the ongoing financial year.
There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
Tax collections might fall short of expectations of the Union Budget for 2002-03, in spite of recording a "healthy" growth during the nine-month period ended December 2002, according to Centre for Monitoring Indian Economy.\n\n\n\n
While super hits like Jawaan are missing this year, it has been filled with a range of medium-range hits such as Crew, Teri Baaton Ne Uljhaa Diya and Guntur Kaaram, observes Vanita Kohli-Khandekar.
Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
The numbers become all the more important because actual tax collections fell short by Rs 1.91 trillion compared to what was projected in 2018-19. Besides, the Budget for FY20 did not give actual figures for 2018-19, but the revised numbers given in the interim Budget.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
There hasn't been any dramatic moment in the first act (the Budget) but nobody would complain. It's par for the course as long as the figures don't change in the main Budget, which will be presented after general elections.
House economists at the nation's largest lender State Bank of India (SBI) have urged the government to budget for nursing the pandemic-ravaged economy and not to focus too much on fiscal consolidation as there is a need for more stabilisation measures to sustain the fledgling recovery. And one of the best way to begin the new fiscal is to complete the share sale of LIC this fiscal. This can go a long way in repairing the overstretched balance sheet which in turn will bring down fiscal deficit to a much lower 6.3 per cent in FY23 as the public coffers will be left with a cash surplus of at least Rs 3 lakh crore to begin the new fiscal, SBI chief economist Soumya Kanti Ghosh said in a pre-Budget note on Wednesday.
Have you wondered how many days of work -- depending on your net monthly income -- you would have to put in to buy the top-end iPhone 16 Pro?
'In the audience's mind there is no urgency to go see a film in the theatre.' 'If you pay for social media buzz it does not convert into bums on seats.'
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