Individuals and entities, whose accounts are not required to be audited, were mandated to file I-T returns by July 31.
'We have promised to ensure reduced tax rates.'
Watchdogs of the economy have not been barking and it is high time we noticed it, says Shreekant Sambrani.
'Persisting with the inequalities, indeed seeing them get worse, is no one's prescription for national unity,' notes T N Ninan.
The premium on insurance policies will get costlier by 3 per cent to 7 per cent, depending upon the rate fixed by the GST Council from April 1, 2017, says Harjot Singh Narula.
The common man was bearing the brunt of the escalating prices of petrol, diesel and cooking gas, the Congress said.
The poll-panel called these seizures by its various field and technical enforcement teams a "historic milestone" achieved "for the first time in any assembly electoral process", meaning during simultaneously-held assembly polls.
'The spirit of cooperation between the Centre and states has been diluted in many ways.' 'The level of consultation which used to be there earlier has reduced significantly.'
With this, 85 officers, including 64 high ranking ones, have been compulsorily retired.
'We are in the reverse gear and we are not there anywhere compared to the rest of the world'
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
The Congress chief said if his party is elected to power, its government would spend 6 per cent of the GDP on education.
The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April, 2021, WPI inflation hit double digit at 10.49 per cent. "The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May, 2021 (over May, 2020) as compared to (-) 3.37 per cent in May 2020.
Jaitley said the government has created transparent environment.
Empowered committee to meet on July 13 to discuss Central Sales Tax, Goods and Services Tax.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
Government think-tank body Niti Ayog CEO Amitabh Kant supported the industry demand and called for setting up of a single window clearance system for expeditious approval of projects. Start-ups and small medium enterprises requested the prime minister to provide support in low-cost capital at the virtual launch of space and satellite industry body Indian Space Association (ISpA).
Protests by central labour unions and widespread criticism from Opposition parties because of job losses on account of demonetisation and the GST have put the contentious labour reform proposals in the slow lane.
Where does Basavaraj Bommai stand three months after he assumed the reins of power in Karnataka?
For July-September, it pegged CPI-based retail inflation at 4.2 per cent which it saw firming up to 4.8 per cent in the second half of the current fiscal.
The Congress leader also targeted Modi over "hasty" implementation of the GST, and his pet bullet train project.
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
Indian elections are won and lost on 'negative' imageries and campaigns - but not certainly on 'negativity' as a political trait and electoral creed, asserts N Sathiya Moorthy.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
The government is coming up with this new law, replacing the Consumer Protection Act 1986, which will incorporate the revised 2015 UN guidelines on consumer protection.
Common return for excise duty and service tax was envisaged when 119 services were taxed.
Vegetable prices which had witnessed a 21.16 per cent contraction in June, shot up by 21.95 per cent in July.
Through this transaction, Amazon has managed to acquire around a 3.6 per cent stake in the Future group.
Market benchmarks Sensex and Nifty soared to new peaks on Tuesday, driven by gains mainly in metal, financial and IT stocks amid firm global cues and sustained foreign fund inflows. Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent.After surging to its record intra-day peak of 41,401.65, the 30-share BSE barometer settled 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17. Similarly, the broader NSE Nifty rallied 111.05 points, or 0.92 per cent, to its record closing high of 12,165.
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
Gandhi said, "I am saying in 10 days, but I assure you it will do done within two days."
'It will take a long time for people's memory to be misled by a prime minister who is so arrogant and who refuses to acknowledge his own faults.'
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
Rediff.com does a quick checklist on what the two manifestos have to say on hot-button issues of the day.
The central government's deposits with the RBI had fallen to just Rs 100 crore as of June 8.
Indications are that Modi will have words of encouragement for Stalin, and the meeting is likely to be much less acrimonious than critics of either would want it to be. notes N Sathiya Moorthy.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
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