Union Finance Minister Shri Pranab Mukherjee held a meeting with Financial Sector stakeholders to get their inputs for General Budget 2011-12, here today. This was the sixth meeting in the series of pre-Budget consultations held by Finance Minister w...
Union Finance Minister Shri Pranab Mukherjee held a meeting with noted economists to get their inputs for General Budget 2011-12, here today. This was the fifth meeting in the series of pre-Budget consultations held by Finance Minister with the stake...
Union Finance Minister Shri Pranab Mukherjee held a meeting with Trade Unions’ Group to get their inputs for General Budget 2011-12, here today. This was the third meeting in the series of pre-Budget consultations held by Finance Minister with the st...
Last week, Finance Act, 2010 came into effect. A few days earlier, Finance Minister Pranab Mukherjee had spelt out his response to several representations regarding his Budget proposals. Apparently, there were hardly any representation about the changes that will create tax liability for taxpayers with retrospective effect, or he decided ...
"The Finance Bill, 2010 was earlier passed by the Lok Sabha followed by its passage by the Rajya Sabha. The Finance Bill, 2010 has been assented to by the Hon'ble President on 8-5-2010 as Act No. 14 of 2010. With this, the Budgetary exercise is over for the F.Y. 2010-2011."...
Direct Taxes (Income Tax) - Relaxation announced by the Finance Minister in the Lok Sabha while replying to the debate on Finance Bill, 2010 onApril 29, 2010. While introducing the Finance Bill, 2010 in respect of Direct Taxes, emphasis has been on relief to individual taxpayers, encouraging research and development in the country, provi...
The construction sector has requested for a review of the changes in the service tax law proposed in this year's Budget. Several suggestions have been made by the trade associations. Considering all the inputs, I propose to provide tax relief to this sector by enhancing their rate of abatement from 67% to 75% of the gross value where suc...
Full exemption from excise duty has been provided to betel nut product commonly known as 'supari'. This exemption is now being extended to scented supari. Central excise duty on corrugated boxes and cartons was reduced from 8% to 4% when they are manufactured starting from kraft paper. I propose to extend the exemption to cover units that...
The Coffee growers in the country have been facing long standing financial problems ever since the coffee prices fell to very low levels during the period 2000-2004. Relief Packages in the form of Special Coffee Term Loan 2002 and Special Coffee Relief Package 2005 were sanctioned to revive coffee sector, besides other initiatives like PM...
The Lok Sabha on Thursday passed the Finance Bill for 2010-11, with a special relief package for coffee growers, and tax concessions for healthcare, auto and realty sectors, but without any change in the levies on petroleum products. Finance Minister Pranab Mukherjee moved the bill after the fresh amendments after a 50-minute final reply ...