Currently, confiscation can be done through multiple laws, but it is a complicated process.
On Thursday, the Business Advisory Committee of the Lok Sabha, which allocates time for the Bills and discussions to be taken up for the forthcoming week, met, but the government strategists didn't ask the members to allocate time for the GST Bills for the next week.
Lok Sabha passes Finance Bill; Will introduce a white paper on black money in current session: FM
Moving the Finance Bill, 2012 for consideration and passage in the Lok Sabha, Mukherjee halved the capital gains tax for private equity investors to 10 per cent and relaxed the norms for arrest of persons involved in violation of Customs Act.
The eight states of the north-east account for 25 Lok Sabha seats and the ruling Bharatiya Janata Party is eying to bag those in the Parliamentary election.
Unless ratified by eight states, a Constitutional amendment cannot be signed by the President of India.
There will be higher charges for bank account-holders.
Parliament's standing committee on finance, headed by Bharatiya Janata Party leader Yashwant Sinha, on Thursday finalised its report on the Companies Bill, 2011.
In the Interim Budget, Finance Minister Nirmala Sitharaman announced that a high power committee would be set up to consider the challenges arising from 'fast population grown and demographic changes.' 'But who wants data? It pays to feed people's fears, insecurities and apprehensions. If such fears don't exist, they must be created,' her husband Parakala Prabhakar says in this fascinating excerpt from his book, The Crooked Timber of New India: Essays on a Republic in Crisis.
'We wanted the PM to speak, and he just refused to -- now we have the opportunity, not just in the Lok Sabha, but also in the Rajya Sabha, to lay the government on the mat.'
The Congress and the Left parties might move court to challenge LS speaker's ruling on Aadhaar as money Bill.
With the Finance Bill 2010-11 proposing payment of 10.3 per cent service tax by hospitals on cashless settlements, it may be a double whammy for policyholders: Higher premiums as well as soaring hospital bills.
The apex court had permitted only voluntary use of Aadhaar for welfare programmes including MGNREGA, all pension schemes, provident fund and Pradhan Mantri Jan Dhan Yojna.
Here are some golden nuggets when it comes to creating wealth. Read them and if you find yourself saying, 'This everybody knows', cross your heart and ask yourself how many times you have forgotten these simple rules, says P V Subramanyam.
Parliament proceedings were adjourned for the day on Monday following protests by the opposition which has been demanding a statement from Prime Minister Narendra Modi in the House on the Manipur issue. In the Rajya Sabha, the opposition kept insisting on a discussion under Rule 267 of the House.
The development came even as Uttarakhand is set to have a vote of confidence on Tuesday to determine whether Congress leader Harish Rawat has enough numbers to retain power in the state that is currently under the President's Rule.
Ahead of the passage of the Finance Bill in Parliament, Civil Aviation Minister Ajit Singh is understood to have shot off a letter to the Finance Ministry protesting the proposal on the grounds that the move would not only hit passengers but spell more trouble for the airlines which were already reeling under severe financial stress.
The deadline set by anti-corruption crusader Anna Hazare for passing the Lokpal Bill is inching closer, but the government seems to be in no hurry. Sources in the government said that the Union Cabinet is unlikely to discuss the Lokpal Bill on Sunday.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
Crucial financial sector reforms are again stuck, despite Finance Minister Pranab Mukherjee's appealing to political parties to help pass the legislations in this regard.
The government will find it difficult to pass the Bill without the Congress's help
In his first response to the issue, Stalin, president of the ruling DMK, said Palanivel Thiaga Rajan (PTR) has already responded to the matter twice.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
The government is committed to ensure clearance of the Insurance Amendment Bill, which is expected to allow a higher foreign direct investment in the country's insurance sector, a central government minister said.
Finance Minister Pranab Mukherjee on Monday held a meeting with senior BJP leaders L K Advani, Sushma Swaraj and Yashwant Sinha to discuss these two legislations.
The government has given the Yadavs opposing the Women's Reservation Bill a face saver by which they can withdraw their agitation in the Lok Sabha and allow the House to function, and in return, the government has promised them nothing more than a dialogue and time to discuss the bill with Union finance minister Pranab Mukherjee, not even promising them an all party meeting.
Copies of the bill, to be moved by Finance Minister Amit Mitra tomorrow for consideration and passage, were circulated among members on the first day of a two-day special session of the Assembly on Monday.
Entertainment content (movie and music) will be 10-15 per cent more expensive, following the proposals of the Finance Bill 2010.
Decoding four important provisions in the Finance Bill 2018.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
The controversial proposal to amend the Income Tax Act with retrospective effect to bring into tax net Vodafone-type deals is expected to yield to the exchequer Rs 35,000 to Rs 40,000 crore, the government said.
Amid a stalemate between the government and the Opposition over the issue, the House failed to transact any significant business and was adjourned for the day.
The Delhi government is likely to extend the ongoing Winter Session to allow passage of the Jan Lokpal Bill which was cleared by the cabinet earlier this week.
Following passage of the Constitution Bill, 2014, Dass and Finance Minister Himanta Biswa Sarma, who introduced it in the House, exchanged sweets.
The government's step could push investors to choose riskier equity, or to fall back on bank deposits, thereby negatively impacting the debt market which actually needs to grow, points out T N Ninan.
The West Bengal Assembly had in a special session last week passed the West Bengal Protection of Interest of Depositors in Financial Establishment Bill, 2013, to protect investors in chit fund companies.
17 MLAs of the TDP were suspended from the assembly for disrupting CM Jagan Mohan Reddy's address on the Andhra Pradesh Decentralisation and Inclusive Development of All Regions Bill, 2020.
The retraction was preceded by a shouting match between Finance Minister Pranab Mukherjee and Railway Minister Mamata Banerji, who had threatened to walk out of a Cabinet meeting protesting some provisions in the Bill earlier this month.
In a big relief from cumbersome tax filing process for the salaried class, Finance Minister Pranab Mukherjee on Monday proposed to exempt them from filing tax returns unless they have other sources of income.
To enable widen the fiscal deficit beyond the permissible limit under the present legislation, the government may have to propose amendment to the FRBM Act in the Finance Bill.
