Finance Minister Pranab Mukherjee's Budget had quite a few tax-related proposals, although initially they did not appear to be too significant. However, read on to find out what are the proposals related to Direct and Indirect taxes that he has made and how the two affect you!
The 2011-12 Budget has failed to bring cheer to the Indian IT sector as Finance Minister Pranab Mukherjee did not make any major announcements to boost the segment.
India has a very low tax/GDP ratio by world standards.
We must work in the direction of an innovation and technology driven economy which could boost up creation of jobs and open advanced and newer avenues of employment within the country.
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
People who are close to retirement and don't intend to go back to full-time work again should deploy a part of their VRS money in equities so that it keeps growing at a faster rate.
General Budget is a terminology earlier used to differentiate between the Union Budget with the Railway Budget. Full-fledged budgets are titled "Union Budget", while interim Budgets are titled just that.
'For the same level of return, you can reduce portfolio volatility significantly with a 10% to 15% exposure to international funds.'
'Overall, domestic demand has moderated significantly. 'The weakening of private consumption, which for long has been the bedrock of aggregate demand, in particular, is a matter of concern,' RBI Governor Shaktikanta Das said in the MPC meetings, in October.
Finance Minister Arun Jaitley outlined the roadmap of the BJP-led Government for the coming months, saying the Goods and Services Tax (GST) will be a "top priority".
The GST Council, that includes representatives of all states, will meet again on November 3-4 to decide on the tax rates
Running a SIP plan for more than six years almost completely eliminates the chances of earning negative returns.
Bharti's results included its new African operations that it acquired in June from Kuwaiti telecom group Zain.
The 2009 Budget had raised the rate of MAT to 15 per cent. The industry wants it to be lowered to at least 10 per cent in the forthcoming Budget.
When the Centre collects money through cess, it can retain the entire fund for the particular scheme.
All goods and services have been put in slabs of 5%, 12%, 18% and 28%
The government's capex spend is expected to rise and much of this is likely to be focussed on rural India, particularly for housing, roads and irrigation.
Talks with government officials on VAT waiver fails.
The project import status for set up of head-ends and lower customs duty and nil SAD would be a booster for the multi service operators.
The budget proposes to increase the MAT rate from 15% to 18% while the surcharge for corporate has been reduced to 7.5% from 10%
The Institute welcomes the proposal relating to LLP for not charging capital gain tax on conversion of general partnership firm into LLP.
As the Modi government enters the fourth year of its tenure, it is looking more confident, shedding its earlier inhibitions about offering sops or new opportunities to big business, says A K Bhattacharya.
Besides Budget, markets will be driven by global events and the outcome of assembly elections.
After the Cabinet approved the Direct Taxes Code Bill, Finance Minister Pranab Mukherjee had yesterday said the corporate tax rate is sought to be retained at the present level of 30 per cent, but there will not be any surcharge or cesses on it.
With less than a year left for the scheduled introduction of the Goods and Services Tax (GST), most states have increased their VAT (value-added tax) rates. The move is seen as an attempt to extract better compensation from the Centre for loss on account of GST rollout
Taxpayers may get relief in terms of tax rates in the proposed Direct Taxes Code (DTC), which is likely to replace the 50-year-old Income Tax Act from the next fiscal, a key official indicated on Friday.
While Union Finance Minister Nirmala Sitharaman reiterated her stand that the central government was committed to cooperative federalism, finance ministers of non-BJP ruled states such as Punjab and Kerala said she refused to give a categorical assurance that states will be paid compensation on time.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
The European Union on Thursday raised concern over its trade with India on two areas, differing tax rates in states and entry barriers for processed food items. Both, it said, are major concerns.
For how many more years will the annual Budget circus continue in its current form? This is a question often asked at post-Budget seminars held across the country every year around this time.
The government's proposal to compute minimum alternate tax on profits, and not on assets as planned originally in the direct taxes code, has put a smile on the face of industry.
With the introduction of 10 per cent tax both on long-term capital gains and on dividend, choose funds based on investment horizon and risk appetite, not on tax advantage, experts tell Sanjay Kumar Singh.
The Nikkei India Manufacturing Purchasing Managers' Index (PMI) stood at 47.9 in July, down from 50.9 in June, its lowest mark since February 2009, and highlighted the first deterioration in business conditions in 2017 so far.
The Customs tariff is much too complicated with basic Customs duty, two types of additional Customs duty and two types of cess.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
General Motors India on Tuesday sought incentives for owners of cars driven on alternative fuel and tax rate cuts to encourage adoption of such eco-friendly vehicles.
The provisions of deduction of tax at source apply to both but in some cases it is possible to save tax through proper tax planning.
The year 2018 is likely to be steady in terms of institutional investment into real estate
The Finance Commission (task force) had recommended an overall GST rate of 12 per cent 'but it is likely to be higher than that', revenue secretary Sunil Mitra said at a Confederation of Indian Industry seminar in New Delhi.
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