The bill was passed with 165 voting in favour and 7 against it.
Despite a temporary relief, foreign investors still see the sword of double-taxation hanging above their hard earned returns.
A GST roll-out by April 1 looks difficult, giving the companies some succour.
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.
Retail jewellers may be exempted as customers are allowed to buy jewellery up to Rs 200,000 in cash
There is no clearly defined right or wrong answer since both target different needs of a portfolio.
'The fact that you did not receive the rent through a bank will not take away the taxability of the rent in your hands.'
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
While the crackdown is a major step in combating tax evasion and improving transparency, it might also impact the flexibility and genuine corporate structures created to achieve legitimate objectives, says Suresh Surana.
Finance Minister Arun Jaitley said the inflation index would determine the nominal growth figure, and it is better to set modest targets and outperform them.
Agriculture implements that are currently taxed up to 18 per cent may come under the 12 per cent or the 5 per cent bracket.
The states have unanimously pitched for sole administrative powers to carry out assessment, scrutiny and enforcement for entities up to an annual turnover of Rs 1.5 crore.
Besides Budget, markets will be driven by global events and the outcome of assembly elections.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
HNIs are scrambling to do so, as they fear government might introduce inheritance tax. This haste could cost them dear, reports Sanjay Kumar Singh
'It reduces the immediate financial strain on your family and helps you take control of your finances without being dependent on your parents.'
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
Arun Jaitley had a tough fiscal hill to climb.
Sadly, the Lodha panel verdict on the IPL spot-fixing scandal of 2013 can't guarantee such incidents won't happen in the future, says Bikash Mohapatra/Rediff.com.
'At the end of the day, we want to see maximum items out and only few items remaining in the 28 per cent slab.'
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The year 2014 was one of the most challenging years for India. For two consecutive years our GDP growth was sub 5 per cent. Employment generation had declined, the revenue buoyancy was low and the country had become investment starved.
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
The exchange, say sources, began mock trading from early October and around 250 Indian brokers have said they'd take membership of the international exchange.
While we have our wish lists ready, it's only on February 28 that the verdict will be out. We do hope the FM plays Santa and brings some good cheer in this financial year. Meanwhile let's take a moment and list our expectations.
Investors can sell shares in the open market if the price is good, to take advantage of the tax arbitrage.
Currently investment of up to Rs 1.50 lakh in PPF is exempt from the Income Tax Act under 80C.
The dates of general elections in 2019 and the presentation of the final Budget of the Modi government are so far removed from each other that Jaitley is not under any pressure to present a populist Budget. Instead, he could well unveil an array of schemes and proposals that he believes are necessary for the economy, even if a few of them could be unpopular, says A K Bhattacharya.
Small and medium enterprises had complained of tedious compliance burden under the Goods and Services Tax
'If you are looking to fulfil imminent long-term commitments, the new online Ulips are the right product for you,' notes Santosh Agarwal/Policybazaar.com.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
There were heightened expectations from Budget 2017 after the impact of note ban on different sections but most remain unfulfilled.
The best part is that an investor gets price appreciation and earns interest income as well, which is unique only to sovereign gold bond.
Most expect the Budget to be path-breaking.
For any proposal to be cleared, it has to get 75% of the vote.
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
The Biden administration should expect continuity in Iran's policies under Raisi. This may not necessarily mean that strengthening of ties with the West will be Raisi's top priority, observes Ambassador M K Bhadrakumar.
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
The Budget sets out a comprehensive vision.
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