Taxpayers are not likely to get as much relief as was proposed in the discussion paper on the Direct Taxes Code last year, with the Finance Ministry saying that the tax slabs may be narrowed down in the bill, slated to be tabled in the monsoon session of Parliament.
The station house officer of Daryaganj police station has withdrawn an order asking offices, shops, vehicle parking, DTC depot etc in the area to remain shut during the G20 Summit.
Tata Motors said on Friday it has bagged the order for supplying 500 non-AC state-of-the-art low-floor CNG buses from Delhi Transport Corporation.
However, BJP has not given any assurance of support and conveyed to the Finance Minister that the matter will be discussed within the party and take a call, sources said.
Union Finance Minister Pranab Mukherjee on Friday expressed firm commitment to enact the Direct Taxes Code (DTC) Bill at the earliest, after expeditious examination of the report of the Parliamentary Standing Committee.
Five people died in rain-related incidents in Delhi Friday as Monsoon arrived with a fury early in the morning, lashing the city with its highest rainfall in a single day of June in 88 years which brought it to a standstill with streets flooded, traffic in chaos and some commuters stranded on roads.
With 2014 polls in mind, FM may provide individual tax payers relief despite fiscal constraints.
The Direct Tax Code (DTC) Bill proposes to raise exemption limit for personal income tax from Rs 1.6 lakh to Rs 2 lakh, Finance Minister Pranab Mukherjee said.
RBI Governor Shaktikanta Das on Wednesday replied to the 'history major central bank governor' taunt faced by him, questioning if Argentinian football legend Lionel Messi is also a post-graduate in history. An interviewer anchoring a fireside chat at a summit organised by Business Standard compared his position to an opponent facing Messi at a football arena in Qatar, to which Das replied with wit. "Don't mind it, but was Messi also a post-graduate in history? Not often, but I am sometimes reminded by people that I am supposed to have done history," Das said.
At this poignant historic moment one can only wish that institutions are not built by bricks and mortars, but also by the rich Parliamentary traditions which have stood the test of time which needs to be strengthened by all stakeholders, notes Rup Narayan Das, a former joint secretary of the Lok Sabha Secretariat.
Arun Jaitley said he would put the DTC Bill in cold storage.
However, the accused was not arrested as no complaint has been registered yet, police said.
Police used mild force to disperse the crowd and five people have been detained, officials said.
Several teams have been formed to trace the offending vehicle and its driver.
According to official figures released by the Delhi Transport Corporation (DTC) on Wednesday, over 4.77 lakh women availed pink tickets for free ride on the first day of the scheme on Tuesday.
The waterlogging under the colonial-era bridge has again come into sharp focus after a 56-year-old driver of a mini-truck died allegedly due to drowning there on Sunday following a heavy downpour in the morning.
The income-tax department intends to bring individuals under the ambit of the proposed controlled-foreign companies (CFCs).
The driver and the conductor of a bus that got stuck at the Minto Bridge underpass due to waterlogging were rescued by fire department personnel, officials said.
Individual taxpayers may see a slight dent in their profits earned on investments in mutual funds or life insurers' investment offering.
It is undoubted that writing a new law based on learning from the experience of half a century is a Herculean task and the taxpayer and tax collector alike require time to acclimatise with a new code.
He has spoken to the party's heads in the Lok Sabha and the Rajya Sabha, Sushma Swaraj and Arun Jaitley, respectively , to seek support for the two items of proposed legislation. He got no assurance.
A panel will draft direct tax legislation, keeping in mind the system in other countries, international best practices and economic needs of the country
The Delhi government has lifted the ban on construction and demolition activities in view of an improvement in the air quality and inconvenience caused to workers, Environment Minister Gopal Rai said on Monday.
A list of who all will be exempted during weekend curfew imposed in Delhi from Friday 10 pm to Monday 5 am in view of surge in COVID-19 cases.
Bharatiya Janata Party MLAs will continue their overnight protest at the Delhi assembly for the second consecutive day on Tuesday to demand the sacking of Aam Aadmi Party ministers over alleged corruption charges.
The government also informed the apex court that it has completed negotiations for Tax Informations Exchange Agreement with 10 countries where the money is believed to have been stashed.
The Delhi traffic police advised commuters to avoid waterlogged streets.
Lakhs of commuters faced hardships in commuting due to the strike.
Proposals involving Himachal Pradesh and Uttar Pradesh were being pursued since 2019.
The I-T officer can go back up to six years to scrutinise the books of accounts of the assessees.
DTC task force also favoured doing away with Dividend Distribution Tax by suggesting taxing dividends in the hands of shareholders.
Wants investment limit for tax savings schemes be increased to Rs 320,000
Delhi Chief Minister Arvind Kejriwal on Sunday sought ten days time to formulate a system to address grievances and problems of the people in Delhi.
To modernise the tax system, the government has proposed to replace the Income Tax Act, 1961, with a new legislation.
As per the SEZ Act, 2005, and SEZ Rules, 2006, SEZ units are entitled to exemption from duty of customs and excise, exemption from service tax and VAT, exemption from stamp duty and registration fees and exemption from electricity duty, besides income tax exemption on export profits.
Minister of State for Home Affairs R P N Singh travelled incognito on a bus from Dhaula Kuan to Chhattarpur. He tells Gyan Varma that he now agrees with the people that they feel unsafe on Delhi roads.
A total of 22 FIRs have been registered regarding the violence in which over 300 police personnel were injured.
After the Cabinet approved the Direct Taxes Code Bill, Finance Minister Pranab Mukherjee had yesterday said the corporate tax rate is sought to be retained at the present level of 30 per cent, but there will not be any surcharge or cesses on it.
After driving autorickshaws and BMWs, Telangana native Vankadarath Saritha has become the first woman to hit the Delhi roads as a DTC driver.
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