The Committee will 'examine the assessment orders, appellate orders and scrutiny report for the appeal to the ITAT related to orders. . . and give its recommendations for different income groups, separately for corporate and non- corporate assesses", CBDT said.
Domestic budget carriers SpiceJet, Indigo and GoAir have rolled out another sale offer with fares starting from Rs 1,699 for a limited period on domestic routes.
Industry demands the basic customs duty on all steel imports to be raised to 25%
In his maiden Budget presented in Parliament on July 10, Finance Minister Arun Jaitley has tried to provide relief to the middle class by increasing tax exemption limit by Rs 50,000 to Rs 250,000.
Print media will not benefit from the Budget.
The assessment sent to the Prime Minister recommended that a new think-tank be set up with experts of domain knowledge to replace the plan body.
There are high hopes that the Budget for 2014-15 to be presented in Parliament may actually not tinker with the threshold limit or the other tax slabs but could provide reliefs by incentivising savings.
However, risks to the outlook stems from possible sub-normal monsoon and higher crude oil prices (on account of the crisis in Iraq)," the Economic Survey 2013-14 tabled in Parliament by Finance Minister Arun Jaitley said.
No-frills carrier SpiceJet has put ten lakh seats on the block with base fares starting as low as Rs 999, which are lower than a 3-AC train ticket, for a one-way journey under a limited period offer.
The net loss of the carrier marginally decreased to Rs 5,388.82 crore (Rs 53.88 billion) in 2013-14 as against Rs 5,490.16 crore (Rs 54.9 billion) in the previous fiscal.
MSM has sole rights for the event and the order has directed Internet Service Providers to block hundreds of webpages hosting videos and clips related to the FIFA 2014 World Cup.
The Income-Tax department will soon start updating taxpayers about the status of their I-T refunds and processing of certain tax statements by sending real-time SMSes and emails, on similar lines as that of credit card and bank transactions at present.
According to FADA, automobile retail trade and service industry comprises a network of 9,500 automobile dealers and their service stations engaged in sale, service/repair and spares of vehicles across segments, is an essential link in automotive business and a significant stakeholder.
Tata Motors Chairman Cyrus Mistry said the company was poised for an 'inflection', even as it revamped its entire product portfolio.
The company is also working on various other measures such as enhancing quality of manufacturing facilities and improving customer buying and after sales experience.
The price of non-subsidised LPG, which customers buy after using up their quota of 12 subsidised cylinders, was raised to Rs 922.50 per 14.2-kg cylinder in Delhi on July 1, the first hike in six months.
The day-long conference will be chaired by Finance Minister Arun Jaitely and presided over by both Food Minister Ram Vilas Paswan and Agriculture Minister Radha Mohan Singh.
Of the 280-odd equity schemes that have been in existence for five years or more, 190 funds or about 70 per cent of those funds have outperformed their respective benchmark indices.
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The country's 44 fund houses together had an average AUM of Rs 9.85 lakh crore during April-June quarter of 2014-15, up from Rs 9.05 lakh crore (Rs 9.05 trillion) in the preceding three months, according to the latest data available with Association of Mutual Funds in India.
Time for approving new fund offers down from 6 months to 2 months; MFs have mobilised Rs 4,000 crore from nearly 30 equity NFOs since October last year.
Prime Minister Modi took over power in mid-May with high expectations that it would strengthen India's fragile macro economy and faltering investment and growth.
With a view to reducing its dependence on conventional sources of energy, Railways is looking to harness solar power in a big way and is likely to include a plan for the same in its upcoming budget.
Rules applicable from April 1, 2014; investors who have already redeemed will also have to pay tax
That "Rollback Budget" ushered in an era of rollback.
Though not a blockbuster budget it does not undermine the fact that key issues were addressed and the finance minister certainly did not under-deliver, says Vatsal Srivastava.
The apex court observed that the government could not deny benefits to those who did not have not Aadhaar numbers.
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After gaining Rs 235 in last three sessions, gold further spurted by Rs 465 to Rs 31,450 per ten grams, a level last seen on December 12.
As the extended Winter Session of Parliament entered its third and last week on Monday, the Telangana issue continued to disrupt Rajya Sabha leading to its adjournment for the day.
The government's dependence on debt has come down from 27 paise in the previous Budget to 25 paise in the coming year, reflecting ease of pressure on revenue collections.
The agency has also retained 'stable' outlook for the country's ratings.
As per the survey, the trade sector that comprises wholesale and retail grew by 4.8 per cent to Rs 14.79 lakh crore (Rs 14.79 trillion) in 2012-13, accounted for 15.8 per cent share in the gross domestic product.
Scouting for resources to meet its fund crunch, Railways is open to the idea of even 100 per cent FDI in its infrastructure development but would keep train operations out of its ambit.
With the Budget Session starting on stormy note due to disruptions by Opposition on the issue of price rise and rail fare hike, the Parliamentary Affairs Minister said the government was ready to discuss all issues including price rise but under appropriate rules.
Currently, the spend on R&D as a percentage of GDP is just 0.9%
Diesel prices have cumulatively risen by Rs 10.68 a litre in 17 instalments since January 2013 when the United Progressive Alliance government had decided on the monthly hikes.
The airline will utilise new Airbus A320s, scheduled for delivery this year, to accommodate much of the increased frequencies.
The country has exported about 5 lakh tonnes of raw sugar so far availing the benefit of the subsidy, according to the Indian Sugar Mills Association (ISMA).
The Planning Commission in May 2012 had constituted the expert group under the then Prime Minister's Economic Advisory Council Chairman C Rangarajan to review the Tendulkar Committee methodology for estimating poverty, following an uproar over the number of poor in the country.
Tomar had discussed the two proposals with trade unions on June 24 and assured that the government will take at least two weeks to take a decision.
Businessmen love low import duties on their inputs and high duties on their outputs. And the Bharatiya Janata Party has a keen ear for business sentiment.
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