Pensioners, India Inc may get tax breaks in Budget
An individual can avail tax deduction on the amount spent during the year on a deferred annuity for self, spouse, or child.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
The bills were passed by voice vote.
Special status to Yoga by categorising its promotion as charitable.
Without making two-thirds of the country's population a development partner, India's prosperity is impossible, the Congress leader added.
Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
The party's national general secretary, Mukul Roy, said, "This government has no moral or ethical right to place a railway budget."
BJP's reversals in rural Gujarat has prompted many policy watchers to predict that the Budget would have incentives for the agriculture sector and the rural economy.
Asked if he is joining the BJP, Nath said, "If there would be any such thing, I would inform you first."
A session of both Houses of Parliament will be held from September 18-22 without Question Hour or private members' business, the Lok Sabha and the Rajya Sabha secretariats said on Saturday.
The Opposition on Wednesday slammed the Railway Budget saying it will promote regional imbalance and criticised its use to promote political ends. Initiating the general discussion on the Railway Budget in the Rajya Sabha, Kalraj Mishra (BJP) said Uttar Pradesh and Bihar have been neglected and most of the projects have gone to West Bengal.
This will violate the time-honoured convention that a government elected for a five-year tenure presents only five full Budgets, but the NDA government will no doubt present it as yet another initiative of Mr Modi.
As the adjournment of Parliament for an indefinite period with the Rajya Sabha also adjourning sine die kickstarts the final countdown for the general elections, Modi said the last five years were a period of "reform, perform and transform" with the country moving towards "big changes" at a fast pace.
'The BJP has everything to lose if it performs poorly in UP. It dreads a repeat of Bihar,' says Rajeev Sharma.
DDT is levied on dividends that a company pays its shareholders out of its profits. It is currently charged at the rate of 20.55 per cent, including a surcharge and education cess. Government may instead tax the shareholders receiving dividends, in a bid to help improve investor sentiment by addressing the multiplicity of taxes and bring down the effective tax rates for companies.
Parag Saxena, founding general partner and CEO, New Silk Road Partners, speaking on the Indian Union Budget 2009 at Asia Society in New York.
The Congress has so far announced 82 candidates for the seven-phase Lok Sabha polls beginning April 19.
Prime Minister Narendra Modi on Friday announced a Rs 100 per cylinder cut in cooking gas LPG price to ease financial burden on households. Non-subsidised cooking gas price will be cut to Rs 803 per 14.2-kg cylinder in the national capital with effect from midnight of Friday/Saturday, official sources said. Prices vary from state to state depending on the incidence on local taxes.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
India Inc gave a thumbs up to the UPA-II's last Union Budget before the general elections next year and said Finance Minister P Chidambaram presented a "bold" and "growth-oriented" Budget.
Can Jaitley's team hope to garner 17% more on personal income tax?
Former Congress president Sonia Gandhi, BJP chief J P Nadda and new party entrant Ashok Chavan and Union ministers Ashwini Vaishnaw and L Murugan were among the 41 candidates elected unopposed to Rajya Sabha on Tuesday while Himachal Pradesh, Karnataka and Uttar Pradesh will witness polling on February 27.
Nirmala Sitharaman has designed the revenue mix in such a way that while Centre's share in taxes would grow a massive 25 per cent, states' share would grow a dismal 6 per cent.
As the government's Budget moves unfold, market participants are treading with caution. As a result, the open interest (OI) positions have taken a beating during June, especially during the last few weeks.
Never before in post-reforms India have Union Budgets seen a steady reduction in fiscal deficit for five consecutive years, points out A K Bhattacharya.
'That Modi and the BJP can continue to treat the rising and expanding middle class this way shows that they have gamed its mind quite perfectly,' argues Shekhar Gupta.
Low consumer demand, a slide in investments and troubles in the banking sector should prompt the government to recalibrate taxes and expenditure. It is also important to ramp up spending on health care and education, says CII president Sumit Mazumder.
The Budget will be keenly watched (to see) whether there is a credible plan for reducing the fiscal deficit and whether populist measures can be avoided before the 2014 general elections," the Wall Street firm said in a note.
Focus on agriculture, infrastructure and services sector can help the country's GDP to grow by more than 9 per cent.
A total of 16 bills, including the GST Bill, Lokpal (Amendment) Bill, Factories (Amendment) Bill and the Anti-Hijacking Bill are pending in Parliament -- five in Lok Sabha and 11 in the Rajya Sabha.
Jaitley increased the excise duty on most tobacco products by 10-15 per cent.
'An entire operation was running systematically prior to the revoking of Article 370.'
President Murmu reached the new Parliament building in a six-horse buggy accompanied by the Presidential Bodyguards riding horses.
That "Rollback Budget" ushered in an era of rollback.
There are tell-tale signs of a slide in the quality of Budgets presented by the current administration, says Parthasarathi Shome.
'The people of Tamil Nadu in particular Chennai know about the double standards of the BJP. Nothing will work for them here.'
Unhappy that the Budget has not done anything to reduce escalating prices, the Communist Party of India said on Tuesday that it\nwould launch a countrywide agitation against high prices of essential commodities\ndespite the low rate of annualised inflation.
