FM Arun Jaitley says I-T dept's capacity to access information and apply technology driven analytical tools to expose evasion has been enhanced
It is important to clarify that availing of an exemption is neither evasion nor tax planning.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
'With more and more young people relocating outside their home states for work, an all-India MLDA of 21 would be a good way to ensure that more Indians can go with the flow,' recommends Kanika Datta.
NDA government has shunned populism.
Supposed to be one of the top-paid stars in Tamil cinema, actor Vijay is known for his big-ticket hits and commands good box-office opening.
Finance Minister Arun Jaitley presented the Union Budget.
Countrywide raids are being conducted in connection with a money laundering case linked to a fertiliser scam.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
Finance Minister Nirmala Sitharaman on Thursday said taxpayer base has almost doubled to 1.28 crore in four years of rollout of the historic tax reform and the enhanced GST mop up in the recent months should now be the "new normal". In a written message to tax officers on the fourth anniversary of GST rollout, she said implementing any reform of this scale in a large and diverse country like India can be highly challenging, but GST has brought about ease in taxpayer compliance and reduced common man's tax burden.
However, investors have turned cautious over the likelihood of Britain leaving the European Union.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
Indian economy about to take-off
Sreehari Nair reviews Ayyappanum Koshiyum.
