A probe report will also be submitted to the apex court investigations are complete.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Income from renting of properties is taxed at a flat rate of 10%.
The reward could vary between 1% and 5% of the total tax paid.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
The assessee will also have to declare whether such items and their value were disclosed at the time of filing wealth tax returns earlier.
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
It will be in Modi's interest to reinvent his party, read the writing on the wall that voters wrote, and move ahead. He has little choice now. The country is watching, asserts Ramesh Menon.
"The emphasis is on making every rule, law, policy people-centric, and public-friendly. This is the use of the new governance model and the country is getting its results," Prime Minister Modi said while speaking at the launch of a platform for 'Transparent Taxation -- Honoring the Honest'.
'Alongside economic growth and the Asian century, stress has become an Asian caravan.' 'But stress doesn't arrive in one's country as invitation to taste exhaustion. It comes dressed as a challenge.' 'Its evangelists ask: Are you man enough to shoulder stress?' points out Shyam G Menon.
Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
Congress president Mallikarjun Kharge on Monday launched the party's crowdfunding campaign in New Delhi, asking people to join the fight against unemployment and rising costs.
The Election Commission on Tuesday ordered the delisting of another 86 'non-existent' registered unrecognised political parties, raising the number of such organisations red flagged by the poll panel for failing to comply with electoral rules to 537.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
Besides LTCG tax relief, permitting taxpayers to declare two houses as self-occupied brings a huge relief.
The tax department was given the land at Mumbai's posh location, measuring 2,786 square metre, with a minimum capacity of 100,000 sq ft, in 1992. Instead of constructing an office building, the department recently took a few floors on rent at the nearby Air India building.
The Central Board of Direct Taxes is set to rationalise I-T rules.
'You can't take money from Shaktikanta Das (the RBI governor) and give it to Nirmala Sitharaman (the Union finance minister). She will blow it away on Modi.'
As spending on infrastructure has three times the desired impact, the government's Rs 111 trillion National Infrastructure Pipeline should be accelerated: Assocham president, Vineet Aggarwal
India can sustain 8 per cent annual GDP growth and the conducive macroeconomic configuration may become a launching pad for a step-up in the country's growth trajectory, said an article on the 'State of Economy' in the central bank's March Bulletin published on Tuesday. Over the period 2021-24, gross domestic product (GDP) growth has averaged above 8 per cent. The global economy is losing steam, with growth slowing in some of the most resilient economies and high frequency indicators, pointing to further levelling in the period ahead, said the article authored by a team led by RBI Deputy Governor Michael Debabrata Patra.
'Public dissent is the highest public duty and I will continue to speak out,' says Harsh Mander.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
An expert committee appointed by the Supreme Court said it cannot conclude any regulatory failure around Adani Group's stock rallies, and that Securities and Exchange Board of India (SEBI) has 'drawn a blank' in its probe into alleged violations in money flows from offshore entities into the conglomerate.
An expert committee appointed by the Supreme Court said it cannot conclude any regulatory failure around Adani Group's stock rallies, and that Sebi has "drawn a blank" in its probe into alleged violations in money flows from offshore entities into the conglomerate. But the six-member panel said there was an evidence of a build-up in short positions on Adani Group stocks ahead of the report of US-based short seller Hindenburg Research, and profiting from squaring off positions after prices crashed post-publication of the damning allegations. "At this stage, taking into account the explanations provided by Sebi, supported by empirical data, prima facie, it would not be possible for the committee to conclude that there has been a regulatory failure around the allegation of price manipulation," the panel said in the report submitted to the Supreme Court.
It was a unique celebration; there is no other instance where Harijans were feted to celebrate India's Independence, says Prakash Bhandari.
US Vice President Kamala Harris, who is of Indian and African heritage, has formally secured the Democratic presidential nomination becoming the first Indian-American to win the nomination from a major political party, and chose Minnesota Gov Tim Walz as her running mate on Tuesday.
The amended India-Mauritius tax treaty has inserted a new clause allowing source-based taxation at 10 per cent on fees paid for technical and consultancy services.
Will the EPFO be required to deduct tax at source or will the employee have to calculate the tax and pay it separately?
The meeting is believed to be called to chalk out the strategy of the Opposition in Rajya Sabha on Monday.
Define ownership proportionately at the time of registration to ensure that you don't face problems on taxation front.
'We get an overzealous army of tax inspectors pushing the economy too hard,' says Ajay Shah.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.
Understanding InvITs properly will enable investors to make an informed decision, says V K Bansal.
Finance Minister Nirmala Sitharaman's Budget speech on Wednesday was marked by the usual thumping of benches by the ruling alliance members, but the loudest cheer was reserved for her announcement of income tax relief, which was welcomed by 'Modi, Modi' chants in Lok Sabha that also witnessed a few instances of protest by the Opposition.
'What is proposed is that we tax payers pay Rs 1,000 per month to selected JanDhan accounts of poor families.' 'I am sure there are at least 10 crore Indians for whom Rs 1,000 is no big deal.'
Former Rajasthan minister Rajendra Singh Gudha claimed that Congress leaders dragged him out of the state assembly on Monday.
Budget announcements will come right before five states, with population of around 250 million, go to polls.
One of the high points of the proceedings was when Indrani Mukerjea's lawyer smartly utilised Dr Zeba Khan's expert status to pose her A Most Curious Question. He asked her if a skull can grow new teeth, even after the person, who it belonged to, had died, three years before. We can be sure that the discrepancy between the number of teeth discovered in the skull unearthed in 2012 and the skull shown in court in September 2019 will come up soon in Courtroom No 51. Vaihayasi Pande Daniel reports from the Sheena Bora Murder Trial.
