India is working towards policies and regulations that would encourage non-cash payments.
A Congress MLA in Bihar has landed in trouble after a sting operation caught the legislator on camera purportedly offering liquor to his guests, despite total prohibition imposed in the state by the Nitish Kumar government.
The Budget has levied a pollution cess on petrol, diesel cars and SUVs and offered a one-time compliance window for domestic black money holders slapping a tax and penalty of 45 per cent.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
Incentives for industries have been rolled back and teachers have gone without salary for months as the state grapples with the after-effects of the ban
A combination of farm loan debt waivers by state governments and the implementation of the pay commission award could entail some fiscal slippages and pose a risk to inflation
He said the UPA had left the economy in a dire state, with Consumer Price Index and food inflation at double digit, Wholesale Price Index inflation around 6-7 per cent and growth prospects were limited.
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The notice also said service tax amounting to Rs 28.08 crore (Rs 280.8 million), in addition to education cess of Rs 56 lakh and secondary and higher education cess of Rs 28 lakh (Rs 2.8 million) for the period between October 2007 and September 2012, should be recovered from Amity under the provision to sub-section 1 of section 73 of the Finance Act.
The great pity is that Mr Siddiqui has a remarkable, even inspiring, story to tell, feels Sunil Sethi.
The industry status will help the sector access bank lending at average interest rates
Abdul Jalil Mastan caught on camera asking a crowd at a note ban protest to hit with shoes the photograph of Prime Minister Narendra Modi, sparking condemnation and kicking up a ruckus in the state legislature.
Core sector companies have seen volumes drop to single digit in the first nine months of FY16.
We should work in unison to boost growth: FM
'We are in the reverse gear and we are not there anywhere compared to the rest of the world'
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
Low consumer demand, a slide in investments and troubles in the banking sector should prompt the government to recalibrate taxes and expenditure. It is also important to ramp up spending on health care and education, says CII president Sumit Mazumder.
'The IAS officers are after the rich people, the IRS officers are after the middle class and the IPS officers are after the poor. This is the new varnashrama created by the bureaucracy.'
The court accepted the scheme formulated by the state government to provide "ex gratia assistance" of up to Rs 50,000 to all religious places, including mosques and temples.
A roster of the work for fresh cases notified under the order of the chief justice of India will come into effect from February 5 till further orders.
Finance Minister Arun Jaitley presented the Union Budget.
It has always been accepted in various apex court rulings that economic policy is not justiciable. It can intervene only if the legislation is seen to violate fundamental rights says Sukumar Mukhopadhyay.
State after state has imposed an alcohol ban, and has had to retreat, unable to address the financial and administrative fallout. Are we set for more of this cycle, asks Aditi Phadnis.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
Sunanda K Datta-Ray considers them sound in theory, but incapable of making any dent in the corruption that is India's way of life.
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According to a study by Central Institute of Post Harvest Engineering and Technology, Punjab, every year, 18 per cent of fruits and vegetables worth Rs 44,000 crore (Rs 440 billion) are wasted.
Lt Governor Najeeb Jung, who is now administering Delhi after President's rule was imposed, on Tuesday made it clear that none of the decisions and initiatives taken by the Aam Aadmi Party government will be scrapped, including the 50 per cent subsidy on power tariff.
Experts share their views on the steps that will help businesses become GST-ready.
Seven people have been arrested after anti-narcotics sleuths and Haryana police busted a suspected Christmas-eve rave party being held at a farmhouse in Mewat district on the outskirts of Delhi.
Any government aid to the airline will ultimately hurt the economy
Jaitley said a 10 per cent tax long on capital gains exceeding Rs 1 lakh made from the sale of shares has been introduced but those made till Janaury 31 would be grandfathered. A 10 per cent tax on distributed income by equity oriented mutual funds has also been proposed in the budget.
The information and broadcasting ministry's business-like and result-oriented handling of several issues has set a template for other ministries to follow, says A K Bhattacharya.
In his statement, the star said that a false case has been registered against him and said that he wasn't drunk when the accident took place and neither did he run away from the spot.
GST rates would depend upon whether the commodity is used by a rich person or a common man
The very design of the GST will bring in revenue buoyancy.
Rama Krishna Sangu, partner, Manohar Chowdhry & Associates, Chartered Accountants, and a member of the Indirect Tax Committee of ICAI, fielded readers' questions on GST on Rediff Chat.
Appearing on Rediff Chat, G Srikanth, partner in GSV Associates, Chartered Accountants, Chennai, and member of the Institute of Cost and Management Accountants, answered readers' queries on the Goods and Services Act.
'To identify with the common man, Modi had to look like one.' 'The disastrous suit with his name written on it never made its reappearance.' 'Frequent dress changes during the day, which led Arvind Kejriwal to calculate that Modi spent crores on his attire ever year, too stopped.' 'Instead, a newer Modi emerged: Humble and eager to serve.' Narendra Modi has cleverly repositioned himself as a man of the masses in the past three years, says Aditi Phadnis.
A rate cut will bring positive sentiment around the Budget.
Piloting the Specified Bank Notes (Cessation of Liabilities) Bill, Finance Minister Arun Jaitley said it will extinguish the government's liability towards scrapped notes and also eliminate the possibility of their bring used as parallel currency.
In a maiden initiative, the Election Commission has introduced e-filing of affidavits by candidates for the forthcoming Lok Sabha and assembly polls.
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