Aramco also plans to invest in building India's largest oil refinery on the country's west coast.
India is often viewed as an aggressive tax jurisdiction by domestic and overseas taxpayers, and making the charter as part of the Act may help restore confidence among taxpayers.
PricewaterhouseCoopers Executive Director Shyamal Mukherjee tells Business Standard that the real changes in the Budget, from the taxation point of view, will be evident in the new tax code the finance minister is developing.
Here's everything you need to know about the Goods and Services Tax Bill.
Investors took comfort from Finance Minister Arun Jaitley's statement, who underlined the need to have globally compatible tax rates to broad-base the economy
While the share of diesel vehicles sales in the overall passenger car industry has already fallen sharply, sales of CNG vehicles have shown a compound annual growth rate of 15.5 per cent over the past five years.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
The tax imposed on buyback of shares and employee stock options is different in case of listed and unlisted companies, says Sudipto Dey
It is easy to invest in exotic products but difficult to exit them. Think carefully before investing rather than being blown away by expected returns alone, suggests Mrin Agarwal, founder, Finsafe India.
Sooner the investors shift, the better it is as a majority of equity funds have single-digit returns since January 31.
What worked for Hyundai in India when so many other auto manufacturers have had to eat humble pie? Pavan Lall finds out.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
India can be rated as among the best performing economies in the world
Many foreign investors have been receiving notices requesting their MAT calculations for financial year 2011-2012.
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
'Under this government, tax laws have become more draconian, and the government itself is setting stiff, unrealistic targets for tax officials, who have got more powers to harass us,' points out Debashis Basu.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
The government must rein in its tax officers.
The new ITR forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or exemptions.
It is a toss-up between liquidity and higher returns; if the tenure is more than three years, FMPs score.
A panel will examine the merits and demerits of various dates for the commencement of the financial year.
Aiming to intensify government's drive on black money, the PMO has asked the revenue department to look for ways other than bilateral tax treaties to bring back funds stashed abroad.
Efforts to initiate a double taxation avoidance agreement with Singapore has hit a roadblock. This is because of Singapore's reluctance to include an information-sharing clause in the agreement.
The study pointed relationship health checker against the negative pointers that can hamper the evolution of trade.
If Modi's truly a reformer and a believer in minimum government, he would bury the Vodafone ghosts now. He would also then go to Bihar, campaigning on his politically controversial reforms. Both will need him to dip deep into his accumulated political capital and risk it, suggests Shekhar Gupta.
The rates of price rise in many services used by the common man, including hospital and nursing, cook, domestic help and bus (fare), among others, have also touched double digits during the last four years, putting a burden on disposable income.
Under the amended treaty with Mauritius, for two years beginning April 1, 2017, capital gains tax will be imposed at 50 per cent of the prevailing domestic rate.
The overall message to the middle class is: the days of freebies are over.
Sinha said the youth, farmers and the traders were dissatisfied with present policies of the saffron party.
Replying to a query, whether the government has made any assessment of black money stashed by Indians in foreign countries, Jaitley said there is no official estimation of that.
The panel decided to omit the reverse charge mechanism (RCM) clause from the GST law under which registered taxpayers buying from unregistered taxpayers have to deposit the GST.
Tax Guru Anil Rego answers your personal income tax queries.
'Sounds familiar? Barring inflation, much else looks, sounds, and feels more than a bit like 1974.' 'A phenomenally popular leader, with a party of unquestioning followers, a broken Opposition, a nationalist high and an economy in free fall, crippling joblessness,' recalls Shekhar Gupta.
The revised structure will help to keep airfares down, when airlines already face a triple challenge of rising crude oil prices, rupee depreciation and constrained airport capacity.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
These ETFs will also carry interest-rate risk, especially the 10-year ETF. The investor can overcome this risk by holding them till maturity, suggests Sanjay Kumar Singh.
Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India's economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.
'The situation is quite terrifying as you have no job creation and there will be loss of jobs.'
