However, he disappointed big time by not announcing any relief in taxes or change in the tax structure to bring relief to the common man.
Pakistan are scheduled to play three Tests and as many T20Is in a bio-secure environment in England amid the COVID-19 pandemic.
At a meeting with the Reserve Bank in Mumbai, builders are understood to have demanded 'more measures' from the central bank to provide relief to the cash-starved realty sector through proactive actions from banks. More than 10 leading developers met a group of top RBI officials, comprising executive director of the apex bank, in Mumbai on Tuesday to discuss the prevailing issues in the industry.
The BJP-led National Democratic Alliance released its manifesto for the February 20 Punjab polls on Saturday, promising a slew of sops for various sections, including 75 per cent reservation in all government jobs for youngsters from the state, an unemployment allowance, 35 per cent reservation for women in government jobs and massive infrastructure development.
Mahindra & Mahindra Ltd, the country's largest utility vehicle maker, will roll out a sub-four metre compact model of Verito, the rechristened Mahindra Logan, which is expected to attract only 10 per cent excise duty instead of the earlier 22 per cent. Also, it will have a lower price tag.
The Resistance Front (TRF), which is believed to be a shadow group of LeT, claimed responsibility for the killings. IGP (Kashmir) Kumar said police have seized a vehicle used in the attack and that such killings were being executed at the behest of Pakistan.
The Indian textile industry, hit hard by recession in the United States and the European Union, said a steep 20 per cent rupee depreciation and the Rs 1,400-crore (Rs 14 billion) package has not helped in boosting sagging exports and demanded that the government should do more to help it come out of the woods.
The new DDA flat buyers, who will pay between Rs 700,000 and Rs 77 lakhs (Rs 7.7 million), will gain from the 9.25 per cent interest rate ceiling on new home loans of up to Rs 20 lakhs (Rs 2 million). But a majority of the existing borrowers of private and public sector banks and housing finance companies will miss out on the government-driven initiative.
Union IT and Communications Minister Dayanidhi Maran has sought fiscal incentives from the finance minister to increase broadband penetration in the country.
IT companies would be entitled to the same tax benefits as SEZ developers.
The Malaysian government has said that the plight of the minority ethnic Indians in the country was being seriously looked into by a special cabinet committee to ensure that the community had participation in the national economy and equity.
Investors are apprehensive about the draft Direct Taxes Code.
Issues such as the economy's health and the government's ability to produce an environment where jobs are available are not of particular concern to us as voters, asserts Aakar Patel.
The broad idea was endorsed by the DoT's internal panel in its report on the Telecom Regulatory Authority of India's recommendations last year on spectrum management and other licensing issues.
The government had earlier said it would give incentives of around Rs 12 per unit of solar power sold. Companies have, however, already lined up capacities to the tune of 3,000 Mw involving investments of around Rs 48,000 crore (Rs 480 billion). This means that of the total planned solar power capacity, only 50 Mw will be incentivised, while the rest will continue to be very expensive.
Faced with the threat of losing tax holiday due to the delay in starting operations, COAI has sought a year's extension upto April 2005 for the unified access service licencees, who got the licences in the first quarter of 2004.
Pakistan's popular hill station Murree was declared a calamity-hit area on Saturday after at least 21 people, including nine children, froze to death in their vehicles due to unprecedented snowfall and rush of tourists to the picturesque town in Punjab province.
The finance minister's tax giveaways are what have saved tax-payers from the impact of inflation and higher home loan rates.
The government is all set to roll out another package of concessions to take the feel-good factor to a political peak, while seeking the vote-on-account in a special session of Parliament in the first week of February.
the limit for investors wanting to invest in RGESS has been raised to Rs 12 lakh from Rs 10 lakh earlier.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
Separate investment limits have been proposed for life and health insurance premium.
Power developer Reliance Power on Monday sought tax concessions from the government to spur investment in the sector even as it doubted if the target of providing power for all by 2012 could be achieved.
The objective of Section 72A is to make business operations tax-neutral encourages the amalgamation and restructuring of a company or firms by allowing set-off or carrying forward of unabsorbed depreciation and accumulated business losses.
The video purportedly shows pigs roaming freely in the corridors of the hospital, undeterred by people walking nearby.
The government on Monday said low-cost housing loans of Rs 15 lakh will be eligible for one per cent interest subsidy, which will help in increasing the demand for such housing.
Make the Income Tax Act work for you by using its tax saving provisions to fund the purchase of not only your first house, but also of the second one.
The commerce ministry will approach the 13th Finance Commission next month suggesting measures to reduce the incidence of local taxes on exports. With the state levies accounting for 6 per cent of the cost of exporters' consignments, the ministry wants to ensure that these taxes are rebated on the lines of refund of Central levies through different schemes.
Relief for exporters, additional incentives for export of farm products other than those in short supply and more steps to check inflation through hassle-free and cheap imports are likely to be announced on Friday in the last review of Foreign Trade Policy by the UPA government.
In the 'Additional guidelines for quarantine of returnees from abroad/contacts/ isolation of suspect or confirmed cases in private facilities', released on Thursday evening, the ministry said there are large number of facilities such as hotels, service apartments and lodges which are "unoccupied due to impact of COVID-19 on travel and tourism".
Taking yet another measure to check inflation through improving domestic supplies, the government today stopped export incentives on basmati rice. "Export of basmati rice shall not be entitled for DEPB (Duty Entitlement Pass Book) benefits," the Directorate General of Foreign Trade said in a notice. Government has already banned export of non-basmati rice & revised upward the minimum export price for basmati rice. Inflation for the week ended March 22 has touched the 7% mark.
"If the tax holiday is withdrawn, STPIs will lose the level-playing field vis-a-vis special economic zones. We have recommended that the government either withdraw the tax holiday to SEZs or continue the incentive to IT companies," an official with knowledge of the deliberations told Business Standard. STPIs enjoy direct tax exemption under sections 10A and 10B of the Income-Tax Act, 1961. The benefits are scheduled to expire on March 31, 2009.
