This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego, T S Khurana and Mahesh Padmanabhan your Budget-related tax questions
The Union government is expecting to rake in Rs 100-200 crore in additional revenue from Pillar Two, only under specific circumstances, a senior finance ministry official said requesting anonymity. It is proceeding cautiously, and is unlikely to implement rules anytime soon, the source said.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego and Mahesh Padmanabhan your I-T related questions.
'If the NDA comes to power with 320-330 plus seats, then we could see some correction. We could possibly see a level of 19,500 to 20,000.' 'If the NDA comes to power with a majority of 400-plus, we could see the markets going to about 23,500-24,000 levels.' 'And from there we could see some correction because markets are expensive at this point of time and a correction is overdue.'
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.
As the voting process for the new Conservative Party leader formally opened with postal ballots being mailed out to Tory members from Monday, Rishi Sunak vowed to cut the basic rate of income tax by 20 per cent in a few years if he is elected Britain's prime minister.
The government has set a direct tax collection target of Rs 13.35 trillion, which includes Rs 7.66 trillion from corporation tax and Rs 5.69 trillion from personal income tax.
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
India Inc on Saturday cheered the road map for lowering corporate taxation.
This move to make it easier for funds to avail of tax exemptions.
Finance Minister Arun Jaitley presented the Budget today.
'There is room for cautious optimism following the Harris anointment that America will return this year to more normal politics after the aberration of the Trump presidency,' points out Shreekant Sambrani.
The report ranks 42 major cities of the world across six key measures of economy, research and development, culture, accessibility, environment and livability
The 2014 survey, which polled 502 global executives from companies with international presence, showed the majority of respondents were considering increasing their presence in India.
'The anonymous electoral bonds means that political affiliations will be even harder to ascertain for the voter or the minority shareholder.' 'The government of the day will, of course, know, exactly which corporate is making donations to which party.' 'Hence, the government will be in a wonderful position to exert "moral pressure" on corporates which make donations to Opposition parties.'
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
Auto sector has nothing to look forward to in the Budget.
As for structural reform, there are signs if one looks hard enough.
Experts hail Budget 2015 as a progressive, growth oriented one.
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The power of a nation is directly related to the revenues it realises from its citizens. But India loses a gargantuan Rs 5.8 lakh crore, as the IT department drags its feet over recovering uncollected taxes in time or holding up files in appeal cases, says Mohan Guruswamy.
Single window clearances for realty must.
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