To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
'My protest was in the interest of the nation.' 'I am just doing my duty as a citizen of this country.'
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
If only one partner handles personal finance, there could be a lot of mismatch between you and your partner in saving and spending money. This can lead to marital stress.
A bench of Justices B R Gavai and Sandeep Mehta asked the AIIMS director to constitute the board and submit a report to it in two weeks.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
BJP workers depend on Annamalai's popularity to emerge victorious. He has has made 100 promises to be fulfilled in 500 days and assurances include cleaning up rivers, an international airport and food vans named after former Chief Minister K Kamaraj.
The new Israeli settlements in the West Bank are illegal and inconsistent with international law, United States Secretary of State Antony Blinken has said, reversing a Trump-era policy.
Our income tax department should bring out monthly bulletin as well as annual reports providing insights into the nature of our direct tax segments, points out R Vaidyanathan.
Arvind Mayaram, who was shunted from Finance Ministry to Tourism only a fortnight ago, has now been transferred as secretary in minority affairs ministry even before he took charge of his new post.
Rebel Himachal Pradesh Congress MLA Rajinder Rana on Saturday claimed that nine more party legislators 'feeling suffocated' due to Sukhvinder Singh Sukhu's style of functioning are in touch with him as he called the chief minister 'liar number one'.
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
Social stock exchange (SSE) saw its first listing on Wednesday, with SGBS Unnati Foundation becoming the first entity to take this route to avail financing. The foundation - engaged in vocational training of youth - raised Rs 1.8 crore from four investors. These include brokerage firm Zerodha and National Bank for Agriculture and Rural Development (Nabard).
The syndicate used "stooge" bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said.
In more trouble for Reebok India, the I-T department has launched a probe into its finances and has begun issuing notices to its executives after an alleged Rs 870-crore (Rs 8.7-billion) fraud case was detected by the company against two of its top officials.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
Telecom services providers have urged the Ministry of Finance to suspend the universal service obligation (USOF) till the existing corpus is exhausted. In their Budget recommendations, they have also pressed for an exemption from the service tax on "assignment of right to use natural resources" and the slashing of Customs duty on telecom equipment to zero. The Cellular Operators Association of India (Coai), which represents private sector telecom operators Reliance Jio, Bharti Airtel, and Vodafone Idea, called for abolishment of USOF levy.
'This mega corruption scandal, as certified by the Supreme Court, will expose the unholy nexus between the BJP and its corrupt corporate masters'
The Finance Ministry has started preparations for Budget 2014-15 by asking different central ministries and departments to come out with their estimates of receipts as well as expenditure for the next financial year.
The government has decided to hold off introducing the production-linked incentive (PLI) scheme for additional sectors until it verifies the efficacy of existing initiatives. Top government officials have received mixed feedback on the scheme, including insights from the Economic Advisory Council to the Prime Minister, people aware of the matter said. "There are no new PLI schemes in the offing.
Siddaramaiah, who hails from the shepherd Kuruba caste, holds the record for presenting the highest number of Budgets in Karnataka -- 13 so far. He has often spoken about how he was mocked in 1994 before he presented his first Budget. 'Some people asked, "Can he count sheep?",' Siddaramaiah told a regional news channel.
While Finance Minister Pranab Mukherjee is aiming for a return to the path of fiscal prudence, various departments of the central government appear to be out of sync.
The Punjab chief minister said he was asked by Kejriwal to visit different places for campaigning for INDIA bloc candidates.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
A day after joining the Eknath Shinde-led Maharashtra government, Deputy Chief Minister Ajit Pawar and state minister Chhagan Bhujbal on Monday went to meet Deputy Chief Minister Devendra Fadnavis to discuss allocation of portfolios in the cabinet, sources said.
The Bharatiya Janata Party vs ruling Dravida Munnetra Kazhagam battle over live telecast of the Ayodhya Ram temple consecration in Tamil Nadu shrines reached the Supreme Court on Monday, with the apex court asking the authorities to act in accordance with the law and not based on any oral instructions.
Annamalai has faced criticism for the breakup between the AIADMK and the BJP, but BJP leaders say 'he attracts youth, who needs change'.
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
The IAS officer, who was posted for nearly 15 months in the sports and youth affairs department, headed by Minister Anil Vij, has been transferred over 45 times in his career so far.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
Describing the DAD as the "guardian of defence finance", he emphasised the need to bolster the internal vigilance mechanism so that any suspicious activity can be detected and reviewed immediately.
The issue of his wife appearing as counsel for the revenue department has caused P Chidambaram a lot of embarrassment. Tell us if he should quit.
The Bharatiya Janata Party also slammed Kejriwal's continuation as the chief minister of Delhi despite being under arrest, saying it is the most unfortunate moment in the country's political journey and the worst kind of politics.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
The Jammu and Kashmir administration has sacked three employees, including the Kashmir University public relations officer, for allegedly working with Pakistan-based militant outfits, raising finances for them and propagating their ideology, officials said on Monday.
Usually, the chair in the Upper House reads out obituary references before members rise as a mark of respect to the memory of the departed.
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