What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The panel's recommendations will be aimed at making a predictable and non-adversarial tax regime in the economy.
Rising food prices are pinching everybody and he would like to do his bit to increase purchasing power.
How would you attract more investments? How will you create more jobs? How will you generate more revenue? And how much will you allocate to various areas: education, defence, agriculture, etc?
Levying buyback tax at a flat rate of 20 per cent (plus applicable surcharge and cess), irrespective of the period for which shares are held will be a dampener for equity shareholders who take inherent risks while investing, says Hitesh D Gajaria, partner and head of tax, KPMG in India.
The provisions of deduction of tax at source apply to both but in some cases it is possible to save tax through proper tax planning.
Finance Minister P Chidambaram announced a slew of taxation proposals in the Union Budget on Thursday.
Clarity on the roadmap necessary to assess its likely impact on near-term fiscal health and investment.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
In the run-up to Budget, Congress leaders have urged Finance Minister Pranab Mukherjee to take steps to appease the 'common man' - to raise the income tax exemption limit, reduce interest rates and provide greater Budgetary allocations for poverty alleviation programmes.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
Finance Minister Arun Jaitley had came out with a host of proposals last month.
Financial advisor Parag Parikh offered some valuable post-Budget financial planning tips.
Unions have also demanded raising the income tax exemption limit from Rs 2 lakhs to Rs 5 lakhs.
The project, code-named MF101 by Foxconn, will be spread across 1,500 acres at Talegaon or Khopoli.
Take a look at the flashy cars on display at the Geneva Motor Show.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
What exactly does the Budget has for the common man? Are you going to benefit from the Budget proposals? Or does it hardly make any effect on your daily life. In an hour-long post-Budget chat on rediff.com, R Seshasayee offered some valuable tips.
Ramalingam Kalirajan dives into the specifics of NPS withdrawal rules to help you understand the conditions under which and when partial withdrawals are allowed.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
In the revised Draft Taxes Code, which will replace the 50-year-old Income Tax Act, the finance ministry decided to drop its earlier proposal to tax the Government Provident Fund or the Public Provident Fund withdrawals.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
'They (government) are trying to create market for pension products'.
From road transport to health insurance, tax rules have changed from October 1.
Overall the Union Budget 2011-12 has been a balanced budget. The government is moving in right direction with regard to reforms.
Union minister Nitin Gadkari on Wednesday told Rajya Sabha members that he was the ''father of toll tax" on expressways in the country as he built the first such road in Maharashtra during his stint as the state minister in late 1990s.
The sizzling hot Mitsubishi Pajero Sport is powered by 175 PS 4000 Nm 2.5 L diesel engine.
Amidst the increasing demand for the utility vehicles in Indian automobile industry, leading car makers are gearing-up to launch their new age SUVs/MPVs in the Indian car market.
IIP growth has been revised upwards to 2.5 per cent in December, from the provisional estimates of 1.8 per cent.
Finance Minister Arun Jaitley presented the Union Budget for 2014-15 on Thursday.
The budget-making exercise offers golden opportunities despite challenges, observes Shankar Acharya, former chief economic adviser to the Government of India.
Online companies would look forward to an integrated and uniform approach for tax laws and regulatory policies
With danger signals flashed in the Economic Survey, the Budget is likely to contain certain bold decisions to cut fiscal deficit and spendings laced with tax sops for the salaried class.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Expectations of small tax payers from Budget 2013-14.
Ernst & Young on how the Budget 2010 will affect individuals and businesses.
Long-term tax on capital gains arising from selling a house can be invested in another property under Section 54.
Only cash deposits of over Rs 250,000 in bank accounts will be scrutinised by the tax department and in case of mismatch with I-T returns, tax plus 200 per cent penalty would be levied
Before you file your income tax return this year, have a look at the amendments that might help you take the most possible tax benefit.
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