PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
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.
Raise a toast to good health with wine. But this time let's go for the Indian ones.
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.
There have been demands from a section of stakeholders that the long-term capital gains tax on equities be reimposed.
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 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.
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.
Decoding four important provisions in the Finance Bill 2018.
Those taking up a job abroad should notify their bank about the change in status and open appropriate NRI accounts
'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.'
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.
India has been probing hundreds of black money cases.
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.
The amendment would help check round-tripping of funds and boost the domestic consumption, Jaitley added
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
Taxation has played spoilsport despite double digit returns.
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.
The development is expected to pave way for greater transfer pricing cooperation between the two countries, enhance investment flow
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.
The key proposals from the IT industry that were not addressed included removal of dual levies on software products
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.
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.
'GST had to come close on the heels of demonetisation as part of the same package.'
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
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.
DoT plans to initiate move that might lower the revenues telcos share with government.
Can the finance minister manage our expectations, asks A K Bhattacharya.
A vacation bench of Justices Vineet Saran and BR Gavai said that the directions of high court passed on May 17 shall not be treated as directives but an advice to Uttar Pradesh government.
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.
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.
The Swiss Finance Ministry spokesperson recently confirmed that a meeting is expected in the coming weeks, but did not disclose any further details.
FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai.
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.
Finance Minister Arun Jaitley said the fiscal deficit slippage this financial year (2017-18) was largely statistical.
