The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.
Delhi Chief Minister Arvind Kejriwal on Thursday said that his office has been kept under the purview of the Jan Lokpal Bill, whose broad contours have been finalised, and the bill will be taken up in the cabinet early next week.
The Bill neither plans to make the Aadhar mandatory or limit its issuance to citizens.
The CBI on Friday told the Supreme Court that RJD supremo Lalu Prasad was playing badminton after being enlarged on bail in a fodder scam case on medical grounds, as it sought cancellation of the relief granted to the former Bihar chief minister.
The bills were passed by voice vote.
The Bill could be introduced in Lok Sabha very soon.
The restructuring exercise of the NHAI includes increasing the number of part-time members of the authority from the existing two to six, who would be from non-government sector. It also includes appointment of six full-time members, against five at present, one each for finance, administration, public private partnership, two members for projects and one for technical.
Calculate his monthly expenses, health care spending, how much funds will he need once he retires, and whether his current savings and investments will enable him to manage his lifestyle through retirement, suggests Ashok Kumar E R, CEO and co-founder, Scripbox.
Bank, bankruptcy reforms, Nabard Bill amendment on agenda.
The Pension Fund Regulatory and Development Authority Bill, 2011, provides for market based returns and wide coverage based on several investment options in the pension sector with an aim to building confidence in the subscribers.
The proposals, to be based on the recommendations of the Shome panel, are likely to be introduced in the Finance Bill to be presented by Finance Minister P Chidambaram in the Budget for 2012-13.
The much-delayed insurance bill and the goods and services tax bill are among the 39 bills that are expected to come up during the month-long Winter Session of Parliament beginning next week.
The GST Council on Tuesday approved changes in tax rates on some goods and services while allowing states to issue an e-way bill for intra-state movement of gold and precious stones, officials said. The Council, chaired by Finance Minister Nirmala Sitharaman and comprising state counterparts, also cleared a host of compliance procedures for GST-registered businesses along with a GoM report on high-risk tax payers to check evasion. The discussion on the crucial issues of extension of compensation to states beyond June 2022 and the imposition of 28 per cent GST on casinos, online gaming and horse racing, will take place on Wednesday.
To check black money menace, the Cabinet on Tuesday approved a new bill that would give more powers to the tax department in tracking illicit wealth stashed abroad and provide for strict penal actions for such offence.
The bill will be discussed in the state Assembly on June 18.
The government has proposed to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related to the new indirect tax regime.
Enthused by the consensus in reaching four-tiered GST tax structure, particularly the unanimity achieved with Congress-ruled states, senior government sources were confident that the Central GST and Integrated GST Bills will be passed by both the Houses.
Ahead of a scheduled discussion in Parliament on the Finance Bill, 2012, for its clearance next week, top bosses of Vodafone Plc met senior functionaries of the government on Tuesday to discuss tax issues that have emerged due to the proposed retrospective amendments in the Income Tax Act, 1961.
Finance Minister Pranab Mukherjee on Friday said government will soon come out with a draft Food Security Bill.
In a major boost to education sector, the Union Cabinet has cleared the long-pending Right to Education Bill, which promises free and compulsory education for children between 6 and 14.
Congress insists on sending legislation to select committee, says will support it in winter session.
Opposition, including Bharatiya Janata Party, Left and other parties, on Tuesday walked out of the Lok Sabha, charging the government with indulging in one scam after another and saying they would not be party to the passage of the Finance Bill and the Railway Budget.
Even as some government departments have raised concerns on the Bill in its present form, the finance ministry has decided not to delay any further and may table it in Parliament next week.
The session, which was earlier scheduled to conclude on April 3, is now likely to be adjourned sine die on March 23, sources said.
The passage of the bill will pave the way for setting up of a GST council that will decide the tax rate, cess and surcharges.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
Arun Jaitley had proposed to set up a Public Debt and Management Agency.
Following the address by President Ram Nath Kovind, the economic survey will be tabled in the two Houses.
PwC analyses the impact of Budget proposals for 2011-12 on individuals and industry.
Rejecting the demand for referring Insurance Bill to a Select Committee, the government on Thursday said the Congress was 'stonewalling' the key reform measure to deny credit to Prime Minister Narendra Modi before he goes to the United States.
Finance Minister Arun Jaitley to discuss state-level issues before finalising GST.
Putting an end to speculation, Finance Minister P Chidambaram on Monday retained the 10 per cent surcharge on those earning over Rs 1 crore annually.
The bill was taken up for consideration in the Lok Sabha after the Speaker rejected Opposition demands to refer the key reform measure to a parliamentary Standing Committee.
Raising a child as a single mother in India can be challenging, especially when it comes to managing finances.
The eight states of the north-east account for 25 Lok Sabha seats and the ruling Bharatiya Janata Party is eying to bag those in the Parliamentary election.
'I wonder how people who come to power through democratic means turn out this way.' 'But people of India are strong, and those who think they can hoodwink people, are mistaken.' 'You can fool some people for some time, but not all people, all the time.'
Parliament Tuesday approved the Companies (Amendment) Bill, 2002 with Rajya Sabha returning it after Finance Minister Jaswant Singh assured that a comprehensive legislation on the subject would be introduced in the budget session of the Parliament.
New head of the Confederation of Indian Industry speaks.
At a meeting of the Empowered Committee of State Finance Ministers, the Centre's plan to bring petroleum goods under GST regime was opposed.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
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