The controversial Civil Liability for Nuclear Damage Bill will be tabled in Parliament on Wednesday.
The increase reflects a quarter-on-quarter increase of 2.6 per cent in October-December 2022-23. In absolute terms, the total liabilities, including liabilities under the 'Public Account' of the government, jumped to Rs 1,50,95,970.8 crore at the end of December 2022.
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
The India-US nuclear deal was aimed at ending India's nuclear isolation and nuclear apartheid, recalls Rup Narayan Das.
Any industrial policy is only as good as how it is applied and the other reforms that support it. This was as true 40 years ago as it is now, points out Debashis Basu.
'Geopolitically and diplomatically it's a very difficult situation for India.'
Absconding diamond jeweller Mehul Choksi has been detained in Belgium following an extradition request by Indian probe agencies for his alleged involvement in the Rs 13,000 crore PNB bank loan 'fraud' case, official sources said Monday. The action against the diamantaire was taken on Saturday.
India Inc on Tuesday expressed deep reservations over the supplier liability provision -- the contentious Clause 17(b) -- in the Civil Liability for Nuclear Damages Bill, 2010, saying it would seriously hinder nuclear commerce.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
If a public sector company willfully enters into an agreement with a foreign vendor and abdicates its right to recourse which otherwise provides for its benefit, it would not only be violating the provisions of the Civil Liability for Nuclear Damages Act but also section 13(1)(d) of the Prevention of Corruption Act, notes Leader of Opposition in Rajya Sabha Arun Jaitley
The government on Tuesday sought to address a significant concern stemming from the 2024-25 Budget announcement by introducing flexibility in the computation of long-term capital gains (LTCG) tax on unlisted assets, including properties. For any assets, such as land or buildings, acquired before July 23, taxpayers can choose between the new and old regimes, opting for whichever results in a lower tax liability. Under the new LTCG regime, the tax rate is set at 12.5 per cent without the benefit of indexation.
'Once filed, it cannot be revised or rectified.'
The reality is that far from being friendless, India is better positioned in the world than at any point post-Cold War, asserts Shekhar Gupta.
Many federations and former athletes alike have been calling for an anti-doping legislation to implement the existing rules.
'Going forward, the encouragement would be to move to the new tax regime.'
The Madhya Pradesh legislative assembly on Thursday passed a bill that provides for recovery of losses from the people and organisations responsible for damaging public and private properties during protests.
United States Ambassador to India Timothy J Roemer on Monday called on Bharatiya Janata Party president Nitin Gadkari and is understood to have discussed the nuclear liability bill, which is being opposed by the party. Sources said Roemer called on Gadkari to discuss the Civil Liability for Nuclear Damage Bill and allay apprehensions expressed by the BJP about the proposed legislation. BJP is opposing the Bill.
After social media outrage over a Budget proposal making it mandatory to get tax clearance certificates for going abroad, the government on Sunday clarified that the proposed amendment is not for all, and only those accused of financial irregularities or having substantial tax arrears need such clearance. The finance ministry, in the Finance Bill, 2024, has proposed to add the reference of the Black Money Act, 2015, to the list of Acts, under which any person should clear his liabilities to obtain the tax clearance certificate.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
Gopal Krishna makes a case against the nuclear liability bill.
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
India's decision to sign the Convention on Supplementary Compensation -- which sets parameters on a nuclear operator's financial liability -- is 'a very positive step', according to Under Secretary of State William Burns. According to sources, during his visit to New Delhi last week, Burns had prevailed upon India to sign the CSC to alleviate the angst of US business and industry over provisions in the Nuclear Liability Bill.
Replying to the debate on the Finance Bill in Lok Sabha, the minister said he did not propose any change in the tax rate but only provided few rebates which will boost spending and help the economy.
Accusing the Congress of creating obstacles in the path of growth and economy, he declared that the government would try to get the bill passed with the help of parties
What is in store for the Koodankulam nuclear power plants, asks S P Udayakumar.
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 per cent.
Bharatiya Janata Party on Wednesday sought to take credit for its role in passage of the Women's Reservation Bill in Rajya Sabha and forcing the government to defer the nuclear liability bill.
Speaking in Lok Sabha during the debate over the nuclear liability bill, Dr Singh said: "To say that this Bill is aimed at advancing US interest is far from truth. History will be the judge."
The delay in the Nuclear Liability Bill, which has faced vehement protests by the Opposition in Parliament, has become a worrying factor for United States business and industry circles.
The government indicated on Wednesday that it would hold discussions with the Bharatiya Janata Party and Left parties, which had opposed the Nuclear Liability Bill, and did not rule out the possibility of raising the compensation cap of Rs 500 crore as envisaged.
In a scathing indictment of the nuclear liability bill passed by Indian Parliament, Nicholas Burns, former under secretary of state in the Bush administration, has warned that if the bill was not amended it could sound the death knell of the historic Indo-US nuclear deal and adversely impact on the envisaged US-India strategic partnership.
Opposition Bharatiya Janata Party on Wednesday clarified that the party did not have any deal with the United Progressive Alliance government on the crucial nuclear liability bill passed by Parliament in the just-concluded Monsoon session.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
The government will transfer about Rs 16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group, a senior official said. Air India Assets Holding Ltd (AIAHL), which will hold non-core assets of Air India such as land and building, will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over. Besides the debt, the excess liability going to AIAHL comprises unpaid fuel bills to oil companies, airport operators and vendors, said Tuhin Kanta Pandey, Secretary to the Department of Investment and Public Asset Management - the department running the privatisation programme of the government.
PE firms are looking at various ways to protect their nominee directors.
The much-anticipated cryptocurrency bill, however, is missing from the list, reports Shrimi Choudhary.
about the recent remarks by Deputy Secretary of State James Steinberg assigning a major role for China in South Asia and saying that India has a role to play in East Asia, National Security Advisor Shiv Shankar Menon said that in today's globalised world, this was no big deal
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
Dravida Munnetra Kazhagam chief Karunanidhi has summoned all DMK MPs in Chennai on Tuesday, to discuss the nuke liability bill, common enterance test for medical students other political issues affecting the state.
