The General Budget reiterates that clarity in tax laws, a stable tax regime, a non-adversarial tax administration, a fair mechanism for dispute resolution and independent judiciary for greater assurance is underlying theme of tax proposals. It is proposed to set up the Tax Administration Reforms Commission.
The Finance Bill 2013-14 proposes reduction of tax on interest in respect of investment made through a designated bank account in Rupee dominated long term infrastructure bond from 20 percent to 5 percent.
The King’s Speech Hinting towards global economic slowdown of growth rate of 3.2%; the FM cited towards a tough Budget. On the contrary he also mentioned that currently India is the only country behind China and Indonesia when it comes to growth rate throughout the world. And if continued to grow at projected rate, only […]
Mr. Chidambaram also announced that the concessional rate of tax of 15 per cent on dividend received by an Indian company from its foreign subsidiary shall be continued for one more year.
MANY CONCESSIONS IN CUSTOMS DUTY ANNOUNCED DUTY ON CERTAIN MACHINERY FOR MANUFACTURE OF LEATHER AND LEATHER GOODS REDUCED DUTY ON PRE-FORMS OF PRECIOUS AND SEMI-PRECIOUS STONES DRASTICALLY CUT HOWEVER, TO ENCOURAGE DOMESTIC PRODUCTION DUTY ON SET TOP BOXES DOUBLED; DUTY ON RAW SILK TRIPLED CUSTOMS DUTY ON IMPORTED LUXERY GOODS SUCH AS HIGH END MOTOR […]
