Hiring activity in the country touched an all-time high in July, witnessing a 11 per cent sequential increase, indicating a strong revival of economic growth and a recovery of business from the impact of COVID-19, a report said on Friday. With 2,625 job postings, hiring trends grew 11 per cent in July compared with 2,359 postings in June, the highest it has ever been, including the pre-COVID-19 timeline, according to the report by Naukri JobSpeak. The Indian job market has witnessed sequential growth for the second month in a row, with a 15 per cent rise in June, after the pandemic-linked decline in April and May, it stated.
Union Finance Minister Nirmala Sitharaman on Friday said the Indian economy is on a sustained path of revival and cited rise in GST collections and direct taxes to support her assertion. She further said that the confidence in the Indian stock market is growing as retail and small investors are keenly investing money in the share market. She was addressing the media in New Delhi.
There have been demands from a section of stakeholders that the long-term capital gains tax on equities be reimposed.
'Gold could benefit from the resulting risk aversion, as happened last year.'
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
The SIT found and reported that there was no amount shown in almost 289 HSBC Geneva entries, while 122 of them were repeated twice in the same list.
Nirmala Sitharaman is proving to be a better finance minister than her initial rookie status might have led people to expect, observes T N Ninan.
It had declined by slightly over 4 per cent in December. The city contributes 37 per cent to the total direct tax revenues. If the trend continues, it could affect the Budget estimates of Rs 13 trillion for the current fiscal year.
The rates of price rise in many services used by the common man, including hospital and nursing, cook, domestic help and bus (fare), among others, have also touched double digits during the last four years, putting a burden on disposable income.
Key was not to be left behind and quipped that he is thankful to Modi for not raising his country's poor performance in the series so far. New Zealand were whitewashed 0-3 in the Test series and are trailing in the ongoing five-match ODI series as well.
Those who have crossed 50 must show the greatest urgency. They need to achieve a corpus that can sustain them and their spouses for at least 25-30 years after retirement.
Those taking up a job abroad should notify their bank about the change in status and open appropriate NRI accounts
Decoding four important provisions in the Finance Bill 2018.
India has been probing hundreds of black money cases.
Food inflation was the worst form of taxation on the poor, he said. The finance minister could have spared the rise in diesel prices and increased petrol prices more, the senior Bharatiya Janata Party leader said.
Modi on Saturday embarked on a five-nation visit to Afghanistan, Qatar, Switzerland, the US and Mexico focus of which will be to enhance India's engagement in areas of trade, energy and security, besides pushing for its membership of the Nuclear Suppliers Group.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
The amendment would help check round-tripping of funds and boost the domestic consumption, Jaitley added
Noted jurist Ram Jethmalani on Tuesday accused in the Supreme Court the National Democratic Alliance government and the previous United Progressive Alliance dispensation of failure to bring back black money stashed abroad and criticised leaders including Prime Minister Narendra Modi, Bharatiya Janata Party President Amit Shah and Finance Minister Arun Jaitley on the issue.
Identity of 427 account holders abroad has been established and 250 of them have admitted to having accounts, Finance Minister Arun Jaitley revealed on Wednesday.
APAs are part of govt's aim to move to a non-adversarial tax regime.
If any foreign account holder violates Indian laws, tax authorities can enforce repatriation of funds.
The development is expected to pave way for greater transfer pricing cooperation between the two countries, enhance investment flow
The key proposals from the IT industry that were not addressed included removal of dual levies on software products
Taxation has played spoilsport despite double digit returns.
'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.'
Ministry considering tax sops for India's first global financial centre, steps to liberalise futures and options markets.
India has a double-taxation avoidance pact with Singapore and more than 85 countries.
Two organisations tracking tax violations and money laundering worldwide identify totally different sets of countries for lack of financial transparency.
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
'GST had to come close on the heels of demonetisation as part of the same package.'
DoT plans to initiate move that might lower the revenues telcos share with government.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
In 2019-20 Budget, the government had increased surcharge from 15 per cent to 25 per cent on those with taxable income between Rs 2-5 crore and from 15 per cent to 37 per cent for income above Rs 5 crore. Following the increase, the effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent and for those above Rs 5 crore it would go up to 42.7 per cent.
The retrospective tax decision reversing the January 2012 Supreme Court verdict in the Vodafone case has often been cited as the reason for foreign investors losing confidence in India as an investment destination.
The Swiss Finance Ministry spokesperson recently confirmed that a meeting is expected in the coming weeks, but did not disclose any further details.
Against estimates of black wealth of Rs 300 lakh crore and black money in cash of Rs 3 lakh crore by economist Arun Kumar, the PMGKY numbers fall short by a huge margin.
FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai.
Finance Minister Arun Jaitley said the fiscal deficit slippage this financial year (2017-18) was largely statistical.
A new study shows that the bottom half of the population enjoyed only 15 per cent of national income in 2013-14, down sharply from 24 per cent in the early 1980s.
