Dravida Munnetra Kazhagam leader S S Palanimanickam on Wednesday assumed office as Minister of State for Finance.
The INDIA bloc has 95 MPs in Rajya Sabha of which 45 were suspended on Monday.
Their scope of work is increasing tremendously.
Union Minister of State for Finance S S Palanimanickam of the Dravida Munnetra Kazhagam will skip his boss Pranab Mukherjee's Budget presentation on Friday.
Hardening its stand, key United Progressive Alliance ally Dravida Munnetra Kazhagam on Sunday slammed the Centre for its "lukewarm" response on the Sri Lankan Tamils issue and threatened to walk out of the ruling alliance if it failed to move amendments to the US-sponsored resolution at the UNHRC.
Three Dravida Munnetra Kazhagam ministers -- S S Palanimanickam, S Gandhiselvan, S Jagatrakshakan -- on Wednesday submitted their resignations from the government to Prime Minister Manmohan Singh. But Union minister and DMK leader M K Alagiri was conspicuous by his absence.
The government on Friday said it is examining recommendations of the Parthasarathi Shome panel on controversial retrospective tax laws introduced in the last Budget.
The government on Thursday said the Enforcement Directorate is probing alleged violation of FDI regulations by cash and carry chain Walmart.
The sanctioned strength of department is 57,793 while the working strength is 40,756; thus a shortfall of 29.47 per cent, the Minister of State for Finance S S Palanimanickam informed the Lok Sabha in a written reply.
According to government, the chocolate manufacturer wrongfully claimed exemption.
Vodafone too has undervaluing its shares by Rs 1,308.91 crore.
The United Progressive Alliance government will suffer a set back if ally Dravida Munnetra Kazhagam doest not contain the infighting between T R Baalu, leader of DMK parliamentary party, and Union Minister S S Palanimanickam, DMK's five time MP from Thanjavur constituency, over the new railway line in Thanjavur.
As Pranab Mukherjee resigned to contest the Presidential poll, Prime Minister Manmohan Singh on Tuesday took charge of the finance ministry portfolio at a time when the country's economy is going through a bad phase.
Kingfisher Airlines was found to have deducted tax at source on salary payments but had not deposited it in government account, Minister of State for Finance S S Palanimanickam said in a written reply.
The three leading think-tanks-- NCAER, NIFM and NIPFP-- conducting a joint study on the quantum of blackmoney, are likely to submit the report to government by December 2012, Parliament was informed on Thursday.
The Ministry of Petroleum and Natural Gas is demanding an increase in excise duty on diesel cars with a view to discouraging consumption of subsidised fuel by personal vehicle owners.
The Income Tax Department has not recommended 'amnesty scheme' to deal with the issue of black money, the government said on Wednesday.
The government on Tuesday said it has received information related to black money from Mauritius and was examining it for appropriate action.
India and Switzerland, on August 30, 2010, signed a protocol amending the Double Taxation Avoidance Agreement.
The Finance Ministry on Friday said that no bugging device was found within its premises, including the office of Finance Minister Pranab Mukherjee, and the suspicious adhesive discovered was chewing gum-like material.
The government has realised Rs 3.75 lakh crore as indirect tax in the April-January period, 74.41 per cent of the target for 2012-13 fiscal, Parliament was informed on Friday.
The Dravida Munnettra Kazhagam is all set to withdraw its five Union ministers from the United Progressive Alliance-2 by the weekend to express solidarity with the Sri Lankan Tamil issue. The step is expected to be taken to put UPA-2 on notice if India voted in favour of Sri Lanka in Geneva where the United Nations Human Rights Council is currently in session.
Sharp rupee fall, interest differential on export finance rates may have led to arbitrage in gold.
The controversial proposal to amend the Income Tax Act with retrospective effect to bring into tax net Vodafone-type deals is expected to yield to the exchequer Rs 35,000 to Rs 40,000 crore, the government said.
Government is mulling amendment and strengthening of the Act to combat terror financing and other suspect transactions.
The government on Friday said that it is concerned about frequent hike in prices of petroleum products but does not plan to reduce taxes on oil goods.
The list of negatives on Kingfisher Airlines is getting longer.
The govt has framed a five-pronged strategy to fight the menace of tax evasion.
The DMK parliamentary party appears to be a house divided, reports R Rajagopalan.
The government has no proposal 'at this stage' to reduce taxes on petro products even as it earned Rs 1.02 lakh crore (Rs 1.02 trillion) by way of taxes on these items in 2010-11, Parliament was informed on Tuesday.
The Comptroller and Auditor General's report on the 2G spectrum scam has been tabled in Parliament. The report was tabled in the Rajya Sabha by Minister of State for Finance (EB&I) Namo Narayan Meena. The report was placed in the Loks Sabha by Minister of State for Finance (Revenue) SS Palanimanickam.
The two parties are deadlocked over on a deal over sharing of seats following DMK's decision on Saturday to pull out its ministers from the UPA government over Congress attitude.
While presenting the Budget on Monday, Finance Minister Pranab Mukherjee, had expressed 'serious concern' over the generation and circulation of black money and said that the government has adopted a five-fold strategy to deal with the menace.
The government has sent notices to 18 Indians who have stashed away unaccounted money in Liechestein's LGT Bank, asking them to pay Rs 24.66 crore (Rs 246.6 million) as taxes.
The government on Friday rejected the demands for tax exemption on setting up power plants, state maritime boards and port trusts, saying it was inconsistent in a moderate tax regime.
India on Tuesday said it is actively pursuing enforcing the amended tax treaty with Switzerland soon so that information on bank deposits in that country can be obtained in specific cases, Minister of State for Finance S S Palanimanickam said.
The government informed the Rajya Sabha on Thursday that Enforcement Directorate is looking into complaints of Foreign Exchange Management Act violations by Anil Dhirubhai Ambani Group, but no conclusion has been reached.
Out of the total dues, Satyam Computer, which has now been re-branded as Mahindra Satyam, alone owes a hefty Rs 532 crore (Rs 5.32 billion) to the Income Tax department
The government had set the direct tax collection target of Rs 3.70 lakh crore (Rs 3.7 trillion) in the budget for 2009-10, which was later revised upwards to Rs 3.87 lakh crore (Rs 3.87 trillion).
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