The government has already embarked on strengthening the tax net by sending letters to those who have not filed tax returns.
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.
Other developers that have sought additional time include Alstom Bharat Forge Power, Sesa Sterlite Ltd and Cognizant Technology Solutions. Vedanta Aluminium has asked for extension of the validity of the approval granted by the board for setting up an SEZ in Odisha beyond May 22.
Years of wait before DTC, GST are rolled out
Congress MPs approach PM to protest against Chidambaram's public remarks on blaming Mukherjee for economic crisis.
On the telecom sector, he demanded auctioning of more spectrum.
A decision by P Chidambaram in his last days as finance minister has annoyed the revenue department.
Budget 2014 is a strong first step to slowly re-architecting and reviving our economy and transform India, says Rajeev Chandrasekhar.
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
The overall message to the middle class is: the days of freebies are over.
There will be some populist announcements in Budget.
FM may increase income-tax exemption limit to Rs 3 lakh
Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India's economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.
Corporate India tempered its victory celebrations for the supposedly business-friendly Narendra Modi-led National Democratic Alliance's landslide electoral victory by highlighting the need for immediate steps to create jobs through inclusive economic growth.
The code, which will replace the existing Income Tax Act 1961, aims to rationalise tax rates to bring more people and companies under the tax net.
India is on the brink of overhauling its tax system, implementing the BEPS project and seeing a further evolution of the GST at the same time as a general election. This makes 2019 an exciting and challenging year, note Maulik Doshi and Jigar Doshi.
Amid tax treaty uncertainties, India's share of the number of investments made by global companies through Mauritius has almost halved in the past two years even as Africa's share has surged significantly.
The implications aren't too significant, given the size of Ukraine and its role in the global economy.
The total size of pension market in India is estimated to have stood at over Rs 1.5 lakh crore (Rs 1.5 trillion) in 2010, while it is expected to rise to over Rs 2 lakh crore (Rs 2 trillion) by 2015 and further to close to Rs 3 lakh crore (Rs 3 trillion) in 2020 and more than Rs 4 lakh crore (Rs 4 trillion) by 2025.
The proposal to levy a 'super-rich' tax, at the rate of 35 per cent, on those earning more than Rs 10 crore a year might not receive support of the Union Cabinet.
The basics and history of India's tax policy suggests that increase in the number of taxpayers has occurred and so has compliance with a reduction of tax slabs and moderate rates of tax.
Pradhan Mantri Jan Dhan Yojana and Make in India -- are not covered here.
Outcome of Assembly polls in five states will set the tone for the winter session of Parliament beginning on Thursday though the government has listed a heavy legislative agenda and opposition is demanding extension of the 12-day sitting.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
The rupee has been falling for five straight weeks, taking its losses this quarter to 6.6 per cent, making it the worst performing currencies in Asia during this period.
Congress is opposing the GST bill in the current form.
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Cabinet likely to pave way for the 'super-rich' tax today.
Congress President Sonia Gandhi on Wednesday released the party's manifesto and claimed that the party will perform well in the forthcoming Lok Sabha polls.
There are tell-tale signs of a slide in the quality of Budgets presented by the current administration, says Parthasarathi Shome.
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
What Shekhar Gupta would have really liked to know from Pranabda: Why did Sonia prefer Dr Singh to him as PM? Why did he deny finance first, why did he accept it 5 years later, and why did he make such a mess of it? How did he force Sonia to nominate him for President and not Hamid Ansari? And how does he justify that most toxic legacy -- the Vodafone tax amendment?
This means taxpayers might continue to enjoy exemption on maturity of their investments
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
Finance Minister Arun Jaitley is unlikely to heed economists' suggestion that an inheritance tax be introduced in Budget 201415 as an additional revenue stream.
Finance Minister Arun Jaitley is unlikely to heed economists' suggestion that an inheritance tax be introduced in Budget 201415 as an additional revenue stream.
A heavy agenda including the ordinance on the Food Security Bill awaits the Monsoon session of Parliament beginning on Monday amid expectations that the short sitting will be more businesslike and smooth as compared to the din and dust in the last few sessions.
These plans aren't likely to put substantial cash in your hands.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
Election manifestos may have lost their earlier importance. But a closer look at them does reveal a lot about a political party's own assessment of where it went wrong and what its future policy directions will look like, says A K Bhattacharya.
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