It also directed the Centre to formulate standard operating procedure (SOP) to deal with claims and objections.
The Union Budget 2010-11 presented by the Finance Minister Pranab Mukherjee in the Lok Sabha on Friday, provides boost to the research and development (R&D) activity across all sector of economy.
Players seek separate deduction for long term savings, or alternatively hike in exemption limit U/s 80 C; also seek longer period of carry forward of losses under Income Tax Act and also to increase FDI limit from 26% to 49%
Prime Minister Manmohan Singh on Monday indicated withdrawal of tax exemptions to prevent their misuse.
The Central government is likely to rule out upfront equity participation of 26 per cent in upcoming semiconductor units and other general incentives
Delhi Chief Minister Arvind Kejriwal on Thursday said dedicated centres will be set up for the treatment of black fungus or mucormycosis cases at three city government-run hospitals.
Looking to push nearly 28 million over 11-year-old polluting vehicles off-roads, the government has proposed incentives worth 8-12 per cent of the cost of a new vehicle for surrendering the old ones.
The finance ministry today said that tax exemptions and concessions, which are estimated to cost the exchequer Rs 100,147 crore (Rs 1001.47 billion) this fiscal, should be subject to a sunset clause so as to avoid rent seeking.
Political observers have said that the TMC, now desperate to shed the 'anti-Hindu' tag and embrace 'soft Hindutva', is carefully planning its moves, with help from poll strategist Prashant Kishor and team, as is evident from its decisions to organise Brahmin Sammelan, provide sops to Sanatan Brahmins, and financial aid to Durga puja committees.
The government is considering giving financial incentives of up to Rs 1.5 lakh on surrender of over-ten-year-old vehicles to check pollution.
Maharashtra Bharatiya Janata Party MLA Ashish Shelar said he was shocked to note the Brihanmumbai Municipal Corporation's (BMC) disaster management cell for cyclone Nisarga will start functioning on Tuesday while the windstorm is only some hours away from hitting the state's coast.
The Sunil Bharti Mittal-led firm on Sunday approached its competitors to set up intra-circle roaming and other processes in the way it is done by the sector to respond to disasters.
For six days in a row the active cases of COVID-19 remained below 9 lakh.
'Elevator rules deem no more than two people for a unit that carries six people, and as an employee enters the office, there are three masks to be used for five hours each a day, then disposed and one for the next day as well.'
With the Omicron variant of coronavirus slowly spreading its tentacles in the country, a number of states enhanced surveillance to trace, track and quarantine contacts of COVID-19 positive persons while Delhi began genome sequencing of samples of all infected people and has prohibited Christmas and New Year gatherings.
Most of the migrants do not get access to any medical facilities in government-run hospitals or dispensaries as they do not have an Aadhaar card and are not Indian citizens.
The Institute of Public Policy Research, which has close ties with the ruling Labour party, said in a new report that Britain could lose out on sought-after skills offered by mobile immigrants if they re-migrate to other countries.
The South African trio of AB de Villiers, Dale Steyn and Chris Morris arrived in Dubai in the wee hours of Saturday to join their Royal Challengers Bangalore teammates for the upcoming Indian Premier League.
Auto companies are looking forward to the continuation of incentives, including excise duty cuts, given in the two stimulus packages in the Budget 2009-10.
Individual tax payers will save only Rs 1,000 more a year following the government raising the tax exemption threshold by Rs 10,000 to Rs 1,60,000, whereas the benefit for senior citizens (65 years and above) will be higher at Rs 1,500.
The Budget proposal will help startups with better incubation, talent and capital
China had earlier this month announced up to 9 per cent rebate on exports of steel products to boost the shipment and production of the commodity. The Indian steel industry, along with its global counterparts, had taken strong exception to it and demanded import-restricting measures be imposed urgently.
With the new pension system attracting lukewarm response from citizens, interim regulator PFRDA today expressed hope that the Budget would provide tax exemption to individuals at the time of entry to encourage them to opt for the scheme.
Corporate Affairs Minister Salman Khursheed said his ministry would push for affirmative action in the corporate sector through fiscal incentives.
Reliance Industries Ltd, India's largest private sector oil firm, has sought compensation similar to what is extended to public sector fuel retailing companies
Developers have demanded lower borrowing cost for the housing sector as well as reduced taxes to promote affordable housing.
'Unlike India and Sri Lanka, there was no internal air travel needed.' 'For all 8 teams, different hotels are available, a separate one for the broadcasting team too.'
The government claims the existing safeguards under the law are adequate, lawful, towards a legitimate purpose and provide for a "proportionate interference" in citizens' right to privacy, reports Nitin Sethi.
Sarvesh Agrawal of Internshala offers a detailed guide on the application process.
Rule will hit 1,000 firms that moved jobs to India, elsewhere. Total jobs abroad pegged at 3 million.
For India to be atmanirbhar, domestic manufacturers cannot remain merely assemblers of imported parts. Manufacturing in India cannot survive on support of imports forever.
The government will chart out a plan for the evacuation of seafarers stuck on international waters amid the Covid-19 pandemic, Union Minister Mansukh L Mandaviya has said. Thousands of Indian seafarers are currently stuck aboard cruise ships and cargo vessels in far off waters, and maritime bodies have been demanding from the government strategies for bringing them home fearing that delays might result in disruption in supply chain.
Real estate companies have asked the government to give them infrastructure status that will enable them to access cheaper money raising options. Does the speculative sector deserve this?
Setting at rest speculation about the possibility of tax cuts to boost growth, the Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday said the government will not change the tax structure during the current fiscal, ending March 31.
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