Keeping the government on tenterhooks on key reform measures like the Insurance Bill and Goods and Services Tax, the Congress party on Monday said there is "no blank cheque" on its support on these in Parliament as the "devil lies in the details".
The BJP's challenge is whether it can again deflate a Congress, which now looks reinvigorated and has adopted sharper messaging around its 'guarantees', and several regional parties, especially in Bihar, Maharashtra and West Bengal.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
The passing of the GST bill and the failure of India to acquire NSG membership is set to rule the agenda in Parliament.
Central Board of Indirect Taxes and Customs said despite the electronic way or E-way bill mechanism there has been rampant evasion and there is a need to increase compliance.
The 30-share Sensex ended up 142 points at 27,705.
In a major reach-out to the main Opposition, the prime minister invited Gandhi and Singh over tea at his Race Course Road residence around 7 pm.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
On Friday, the rupee fell to its 26-month low at 66.89.
Going ahead, the likely implementation of the goods and services tax bill in July and how the monsoons play out will have a bearing on India's demand for gold and gold jewellery
'The role reversal of those in favour of GST and those opposing it is troubling.'
China has spent half a century plotting to defeat America and in some respects, the Chinese military is already at par with the US armed forces, Haley said in a major policy speech on the economy in the key early primary State of New Hampshire on Friday.
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
Decoding four important provisions in the Finance Bill 2018.
Services attract highest foreign direct investment, despite Make in India push.
Interlinking of rivers, retrieval of Katchatheevu island and inclusion of fishermen in the Scheduled Tribes list are also listed in the memorandum.
The monsoon session of parliament is all set to begin on July 21, but it will be a truncated three-week affair.
The Rajya Sabha proceeding washed out completely on Wednesday and was adjourned for the day amid continued protest by the Opposition parties led by the Congress over price rise and levy of Goods and Services Tax (GST) on daily essentials.
Prosus-backed fintech firm PayU is set to acquire India's earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest acquisition in India's digital payments space. The deal will also give exit to investors General Atlantic, TA Associates, Temasek, Clearstone Ventures, and Visa. The proposed acquisition will help PayU, the payments and fintech business of Prosus which operates in more than 20 markets, become one of the leading online payment providers globally by total payment volume (TPV).
Cable tariffs across the country are set to go up with the TRAI clarifying that operators can hike charges in view of the increase in service tax and the imposition of education cess in Budget.
For the convenience of people to pay school fees and municipal taxes and utility bills through an integrated platform, the Reserve Bank on Thursday proposed setting up an "anytime anywhere" bill payment system.
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source). While moving the Finance Bill 2023 for consideration and passage in the Lok Sabha on Friday, Finance Minister Nirmala Sitharaman said the Reserve Bank has been asked to look into ways to bring credit card payments on foreign tours under the LRS. "It has been represented that payments for foreign tours through a credit card are not being captured under the Liberalised Remittance Scheme (LRS) and such payments escape tax collection at source (TCS)," she said.
The productivity of the Lok Sabha was 91.58 per cent while that of Rajya Sabha was 56.29 per cent.
A simple primer on how much money taxpayers can save under various sections of the Income Tax Act.
The Congress on Wednesday dismissed as "totally baseless" and "mischievous" reports that it had offered a deal to government under which it was ready to support passage of GST bill in Parliament if it axed External Affairs Minister Sushma Swaraj and Rajasthan Chief Minister Vasundhara Raje in the wake of the Lalitgate controversy.
We have only three differences with the Bharatiya Janata Party on the GST, said the Congress vice president.
The GST, an indirect tax regime, is to be rolled out from April 2016.
Info Edge (India) reported a good fourth quarter for the 2022-23 financial year (Q4FY23) given depressed conditions in the Key IT segment. The billing growth of 13.7 per cent year-on-year (YoY) in recruitment was well ahead of market expectations. There was solid growth in realisations (up 5.5 per cent) as well as unique customers (up 7.7 per cent).
Implementation of GST is expected to increase the gross domestic product of the country.
In a statement, the CBDT, which is the apex policy making body for direct tax policies, said it has never asked IRS Association or these officers to prepare such a report and no permission was sought by them before making the report public. 'It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report.
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
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With a focus on direct, indirect, and corporate tax structures, the Budget 2016-17 offers a balanced taxation structure
Two years of the NDA government have instituted significant reforms, including the passing of the GST bill in India but "cultural issues and saffronisation" have resulted in a slow incremental change instead of big bang reforms, according to a top American think-tank.
With the Finance Bill 2010-11 proposing payment of 10.3 per cent service tax by hospitals on cashless settlements, it may be a double whammy for policyholders: Higher premiums as well as soaring hospital bills.
'If governments choose to spend our money on cow meat detection kits or hugely expensive statues, it is also a form of corruption.' 'A betrayal of our hopes and aspirations,' says Amit Mehra.
The Cabinet on Wednesday approved amendments to the GST bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime.
With the passage of Finance Bill on Friday, the government on Friday ruled out rollback of service tax imposed on goods booking agents, but expressed its willingness to sort out any procedural difficulty faced by either truck owners or operators.
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