As the finance minister rises in the House to present the Budget, some interesting facts about the annual financial plan for the country.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
In a most perverse example of tax bullying, someone I know has got by three such notices reopening his assessment minutes before the midnight deadline of June 30, reveals Debashis Basu.
The move comes less than two months after the Union Budget clarified that returns from pass through certificates were tax-exempt.
In an exclusive conversation with Rediff.com, Finance Minister P Chidambaram's son Karthik Chidambaram stated that the Union budget presented by his father in Parliament on Thursday was a "gender sensitive" one.
The new board will have a leaner structure on functional lines headed by the chairman and four members - covering infrastructure, operations and business development, rolling stock, and finance.
If you plan to invest in an FD, go for the 12-15-month tenure. This will allow you to redeploy maturity proceeds at higher rates (if rates rise), advises Sarbajeet K Sen.
The Union Budget will be presented on February 29.
Battle lines have already been drawn and the opposition has insisted on a debate on demonetisation.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
"You (lawyer) tell us what provisions have been violated. Tentatively speaking, we don't find any material in support of the petition," a bench comprising Chief Justice J S Khehar and Justice D Y Chandrachud said.
We present here a graphic explanation of the Budget 2016.
Tax experts G Srikanth and Anil Rego will answer all your tax queries in two different chats between 1 pm and 4 pm on Monday, February 3.
The government has been trying to make the tax laws simpler every year; however, there are numerous amendments required in the tax laws.
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Taxpayer will also have to forego deduction under 80CCC (contribution towards certain pension fund), Section 80D (health insurance), 80E (interest on loan for higher education), 80EE (interest on loan taken for residential property), 80EEB (purchase of electric vehicle), 80G (donation to charitable institutions), and 80G (rent paid).
Accelerated development of highways will be taken up with 2,500 km access controlled highways and 9,000 km of economic corridor. In addition, there will be 2,000 km each of strategic highway projects and port connectivity projects, she said.
Last year, Sitharaman had ditched the long-standing tradition of carrying budget documents in a leather briefcase and went swadeshi with a 'bahi-khata'.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
The Trinamool Congress MP said he is unable to bear various incidents that are happening in West Bengal.
Companies wanting to consider treaty benefits and deducting tax at a lower rate will have to examine the qualitative factors. They will have to consider whether FPIs are liable to tax and whether they are the beneficial owner of dividend income.
Take some time off to write a postcard to the finance minister, tell Mr Arun Jaitley your wishlist for Union Budget 2018.
Shah had on Tuesday attended a party event in Lucknow where he said that the Opposition is spreading rumours about the CAA.
The TDP expressed "serious displeasure" over the Union Budget as it "gave nothing" to the state.
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
Expressing commitment to augment the country's infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed. "For 2021-22, I propose a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said.
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