In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
The European Commission urged Greece to stick to commitments it has made to reform its economy as Prime Minister Alexis Tsipras called a snap election within hours of new EU bailout cash arriving in Athens.
Elaborating on the recommendations, CII Vice-President Hari Bhartia said the forthcoming budget should focus on an investment-led growth by introducing broad-based reforms in the banking, finance and retail sectors. The Union Budget is expected to be presented in July, 2009.
Finance Minister Jaswant Singh is likely to trigger off pension reforms for the unorganized sector in this Budget by exempting tax on a standardized pension policy, which could be sold by insurers at a meager price.
It's unfortunate the govt seems close to bowing to pressure from a limited section of the public.
The proposed changes making it easier for government and businesses to buy farm land are now likely to be implemented by states, not by the central government
If other states follow suit, it is going to become difficult for the GST Council to decide on the next stage of reforms.
A cross-country comparison shows that India currently has the lowest number of taxpayers.
The proposal had attracted strong criticism from the salaried class.
Congress is opposing the GST bill in the current form.
Pawan Kumar, organising secretary of the Bharatiya Mazdoor Sangh (BMS) affiliated to the Rashtriya Swayamsevak Sangh (RSS), tells Aditi Phadnis it will join forces with other trade unions if necessary to oppose the Employees' Provident Fund Organisation (EPFO) provisions in the Union Budget.
BSE Midcap and BSE Smallcap outperformed the frontline indices to gain 0.2% and 0.3%
Tax administration could be improved to reduce discretion and improve accountability
At the Ficci meet, the Gujarat chief minister says 'tax terrorism' in the country is inherently venal; calls for discussion on economic reforms.
Vijay Kelkar, advisor to the finance minister, on Friday submitted the final reports on direct and indirect taxes to Finance Minister Jaswant Singh.
Speaking at a bipartisan gathering of US governors at the White House, Trump vowed significant increase in defence law enforcement and law enforcement. "This budget will be a public safety and national security budget," Trump said.
The journey of the prime minister in public office began on October 7, 2001, as the chief minister of Gujarat.
The party's research department team, which Rajya Sabha member M V Rajeev Gowda heads, has sifted through the suggestions received in the last five months, and the manifesto is slated to be released later this month, reports Archis Mohan.
If life has become a little less taxing, thank the reform measures initiated by Finance Minister Jaswant Singh in tax administration.
A large number of rich farmers, who earn more than salaried employees in the cities, get away with paying no tax at all in view of the government's lack of will to consider an agricultural income tax
The adjustment orders for AY2012, are expected between January and March 2016.
A five-judge Constitution bench of the Supreme Court is scheduled to commence a crucial hearing from Tuesday on a batch of pleas challenging the validity of the electoral bonds scheme for funding political parties.
New government should consider reforming taxation rules.
Govt is keen to push reforms in the insurance sector.
The Goods and Services Tax will make India a competitor in Chinese-style manufacturing and employment.
Modi's government sees itself in a sweet spot with spare cash.
Industry body CII has pitched for a reduction in personal income tax rates, decriminalisation of the goods and services tax and a relook at the capital gains tax rates as part of its agenda presented to the government for the forthcoming Budget. Arguing that the GST law already contains adequate penal provisions for deterrence against evasion of taxes, CII has suggested decriminalisation of GST law. Also, the applicability of prosecution provisions should not be based on the absolute amount of tax evasion but should be based on real intent to evade the taxes and a certain percentage of the tax payable, it stated.
This surpassed its previous record close of 29,974.24, reached on April 5.
Due to opposition from Trump's own party lawmakers, Speaker Paul Ryan could not muster the majority 215 votes.
With GDP growth improving to a nine-quarter high of 5.7 per cent and the stock market brimming with optimism, now is the time for Modi to keep his promises.
Prime Minister Narendra Modi addressed the nation from the ramparts of Red Fort in New Delhi as India celebrates the 72nd Independence Day. This is Modi's fifth and final address as PM in the current tenure. During his speech, Modi reflected on the achievements of the National Democratic Alliance government and presented a report card of his four-year tenure. Here are the main takeaways from his address:
The government hopes to implement direct tax code from April 2011.
Unveiling the economic agenda of the new government, President A P J Abdul Kalam on Monday promised massive public investments in agriculture and industry, encouraging foreign direct investment
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
The Finance Minister impressed upon the need to attract more investments for the manufacturing sector.
Various twists and turns by govt post-demonetisation prove that it has been tall order for the PM
Khan stressed on taking austerity measures, working on tax reforms instead of taking loans, rooting out corruption.
Increasing female economic participation by ensuring equal work opportunities for women and expanding access to education and skills training for female entrepreneurs.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
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