Those who have been handed the pink slip shouldn't make too many loan queries, advises Raj Khosla.
The Bills are primarily aimed at helping the MSME sector and small traders, Finance Minister Piyush Goyal said while introducing these in the Lok Sabha
In the Interim Budget, Finance Minister Nirmala Sitharaman announced that a high power committee would be set up to consider the challenges arising from 'fast population grown and demographic changes.' 'But who wants data? It pays to feed people's fears, insecurities and apprehensions. If such fears don't exist, they must be created,' her husband Parakala Prabhakar says in this fascinating excerpt from his book, The Crooked Timber of New India: Essays on a Republic in Crisis.
The two major changes include: keeping an option open for supplying more than 3 kg of subsidised foodgrains to general households and widening its reach to include lactating women, destitute and aged people and providing nutritious food to children.
Government on Thursday approved the Taxation Laws (Amendment) Bill to protect the interest of donors.
The UIDAI, set up in 2009, will manage the generation and authentication of Aadhaar numbers.
The Bill's 2007 version covered only MFIs not regulated by the Reserve Bank of India.
The sector faces many challenges and calls for prompt corrective action.
It will be in Modi's interest to reinvent his party, read the writing on the wall that voters wrote, and move ahead. He has little choice now. The country is watching, asserts Ramesh Menon.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
FDI cap may remain intact at 26% as Cabinet takes up legislation this week.
Parliament passes Budget for 2007-08 with Rajya Sabha returning the Appropriation Bill and the Finance Bill by voice vote.
The government promised on Friday to remove distortions in excise duty on branded and packed refined oils, which analysts said allowed companies to avoid the levy.
Tax experts said as a result of the amendments, companies operating from countries with which India didn't have DTAAs, would try to shift to countries with which India had such agreements, including Mauritius.
The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry
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The GST will subsume most of the indirect taxes like excise duty and service tax
Business subsidies may attract tax
The prime minister witnessed the protests when he travelled to the Raj Bhavan in Guwahati, where he will spend the night, from Lokopriya Gopinath Bordoloi International Airport.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
'We wanted the PM to speak, and he just refused to -- now we have the opportunity, not just in the Lok Sabha, but also in the Rajya Sabha, to lay the government on the mat.'
Terror financing and counterfeit currency have been a constant headache for Indian security agencies. Rediff.com's Vicky Nanjappa lokks at the latest developments in India's fight against this "dirty money."
Several income tax proposals, including 30 per cent tax on income from trade in cryptocurrencies will come into effect from Friday. Also, the revised norms for levy of 1 per cent TDS (tax deducted at source) on sale of immovable property exceeding Rs 50 lakh will come into effect from April 1, the beginning of the new financial year. As per the revised norms, TDS of 1 per cent shall be deducted on consideration or stamp duty value, which ever is higher, as against the earlier provision of consideration.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Parliament proceedings were adjourned for the day on Monday following protests by the opposition which has been demanding a statement from Prime Minister Narendra Modi in the House on the Manipur issue. In the Rajya Sabha, the opposition kept insisting on a discussion under Rule 267 of the House.
By doing away with the 1 per cent inter-state tax over and above the GST rate, the government has met one of the three key demands over which Opposition Congress has been blocking the Bill in the Upper House
The proposed bill seeks to raise FDI cap in the sector to 49% from the present 26.5%
Is it a case of poor targeting of a welfare scheme, or is it a reflection of the government's desire to expand the scope of this benefit to secure greater electoral dividends? asks A K Bhattacharya.
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
After capping anonymous cash donations to political parties at Rs 2,000, the government is amending law to make it mandatory for them to file returns on income by December every year or risk losing tax exemption status.
Says Finance Ministry is working on tax structures as suggested by the Parliamentary committee
The proposal in the Finance Bill to amend provisions of Section 179 of the Income Tax (I-T) Act relating to tax liability of directors of private limited companies from April 1, 2022, could increase risks for directors of medium and small-sized firms in case of non-payment, said experts. While the language of the provision is quite broad, the title of the section limits itself to 'liability of directors of private companies in liquidation'. The Bill proposes to align the title with the scope of the provision, thereby ensuring that orders under this section can be issued even if the relevant company is not under liquidation.
Rajya Sabha returns Finance Bill to Lok Sabha; budgetary process over in both Houses, President nod needed now.
Opposition on Thursday forced deferment of consideration of the contentious Mines and Minerals Bill in Rajya Sabha till on Friday.
The free food scheme is driven by electoral considerations, but its long-term fiscal risks outweigh the short-term gains, cautions A K Bhattacharya.
Moody's currently assigns 'Baa3' rating on India, with a stable outlook. 'Baa3' means medium grade with moderate credit risk.
However, BJP has not given any assurance of support and conveyed to the Finance Minister that the matter will be discussed within the party and take a call, sources said.
'The prime minister took a meeting recently and he asked for suggestions and ideas for a plan till 2047.'
The government on October 12 announced the LTC cash voucher scheme under which central government employees can purchase any goods or services with GST rate of 12 per cent or above to avail the benefit.
Finance Minister Piyush Goyal said the instances of people running away and evading the legal process was increasing and this needed to be stopped, as the current laws do not allow fully dealing with the severity of the problem.
Ramalingam Kalirajan explains the pros and cons of both investment types.
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