Senior officials say the government might come up with an incentive package for the SEZs following the release of Foreign Trade Policy.
Instruments such as Reits, InvITs, unsponsored GDR, GIFT find few takers.
Seven months down the line, not much progress has been made, except that the scheme is still being fine-tuned.
SEZs account for just about a third of India's merchandise exports (and roughly the same proportion of services exports). Yet, the notion of creating global manufacturing centres of the kind that propelled China to superpowerdom retains a durable appeal within the Indian policy-making establishment, notes Kanika Datta.
New ITR form may be simpler, but some changes could stump you.
While the entry of 62-year-old Noel Tata, half brother of Ratan Tata, into Tata Trusts is being seen as a significant departure from the past within the salt-to-software conglomerate, Jehangir, a long-standing philanthropist is expected to add heft to Tata Trusts.
The Income Tax department will hold public meetings every Wednesday to resolve taxpayers grievances and tax issues as part of the 'Good Governance' initiative mooted by Prime Minister Narendra Modi.
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
Financial Intelligence Unit data show many of these societies have become the biggest draw for laundering money. Subhomoy Bhattacharjee reports.
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
'We revolutionised the system in a manner so that the chances of leakage will be much lower than it was in the beginning.'
Businesses with monthly turnover of over Rs 50 lakh will have to mandatorily pay at least 1 per cent of their GST liability in cash, the finance ministry said as it moved to curb evasion by fake invoicing. The Central Board of Indirect Taxes and Customs (CBIC) has introduced Rule 86B in Goods and Services Tax (GST) rules which restricts use of input tax credit (ITC) for discharging GST liability to 99 per cent. "... The registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of 99 per cent of tax liability, in cases where the value of taxable supply ... in a month exceeds Rs 50 lakh," the CBIC said.
Revenue dept says changes in I-T Act require Parliament nod; new regime to wait till Budget in June-July 2014.
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
If an equity share is purchased before January 31, 2018, at Rs 100 and the highest price quoted on January 31, 2018, in respect of this share is Rs 120, there will be no tax on the gain of Rs 20.
Understanding InvITs properly will enable investors to make an informed decision, says V K Bansal.
Those people without the Aadhaar number have found a loophole in the system
Domestic I-T laws require you to deduct tax on software, e-books and music albums; must report every such transactions while filing returns.
This provision is a very smart rule against fraudster and would not affect any genuine business entities or Ease of Doing Business in any manner, said a source.
The real estate sector is a major employment provider and the economy cannot afford its hard landing. Harsh Roongta suggests measures that can revive the under-construction market
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
Sandeep Shanbhag, a chartered accountant and director of Wonderland Consultants, a tax and financial advisory firm, discussed the impact of Budget proposals in a chat with Rediff.com's readers.
Harsh Roongta, Mahesh Padmanabhan, Anil Rego answer the most sought after questions on Budget Day.
'Many of the challenges of investing in commercial real estate get taken care of when an investor takes the Reit route,' points out Suraj Nangia.
There were heightened expectations from Budget 2017 after the impact of note ban on different sections but most remain unfulfilled.
Budget 2016 may hold some answers to start-up cooncerns.
Operational and compliance challenges foreseen for fund houses in deducting tax at source, resulting in possible TDS mismatches and disputes with investors.
Indian economy about to take-off
While diligent paperwork helps claim tax benefits, with employers under pressure from the government, any lapse in documentation by an employee will lead to sharp cuts in salary.
Jaitley said a 10 per cent tax long on capital gains exceeding Rs 1 lakh made from the sale of shares has been introduced but those made till Janaury 31 would be grandfathered. A 10 per cent tax on distributed income by equity oriented mutual funds has also been proposed in the budget.
Parliamentary Standing Committee on Human Resource Development headed by Satyanarayan Jatiya has slammed SAI for not roping in sportspersons even 20 years after being asked for restructuring of the "unwieldy and monolithic bureaucratic organisation
Direct tax collections missed the revised target for 2019-20 by Rs 1.42 trillion at Rs 10.27 trillion, an 8 per cent fall over the previous year.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
It was one of the key promises made by the Congress ahead of the 2018 assembly polls, following which the party returned to power in the state after a gap of 15 years.
Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.
Agniveers once enrolled into the Indian Air Force, will be governed under the Air Force Act 1950, for a period of four years.
Retail jewellers may be exempted as customers are allowed to buy jewellery up to Rs 200,000 in cash
A bank account is a must to get the refund and those without it have been asked by Sebi to open an account with a scheduled bank.
Sebi says it will directly transfer the refund money to the bank accounts of genuine investors.
This scheme would help salaried people, especially those working in far-flung and remote areas with armed forces and para-military forces.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances