Income Tax : Explore the changes in taxation of debt mutual funds pre and post April 2023. Learn about impacts, benefits, and strategies. Inves...
Finance, Income Tax : Explore the impact of Indias budget evolution in 2024, focusing on economic growth, reducing disparity, and strategic resource all...
Finance : Welcome Announcements by Finance Minister to boost COVID affected sectors: Healthcare, Tourism, Exports, Job Creation In a bid to ...
Finance : Before the Unlocking starts I have some suggestions for Government, Trade and Citizen. They can be further discussed with all the ...
Finance : 1. The Government vide office memorandum no. F.No. 12(2)/2020—EH(A) dated 12 October 2020 announced the Cash Voucher LTC (Leave ...
Finance : Smt. Nirmala Sitharaman assumes office as Union Minister for Finance & Corporate Affairs, pledges commitment to 'Ease of Living' a...
Income Tax : Marking the 164th Income Tax Day, Finance Minister Nirmala Sitharaman praises CBDT's efforts in tax administration reforms and ea...
Finance : Finance Minister Smt. Nirmala Sitharaman chairs meeting on Illegal Loan Apps. Multiple steps outlined to prevent operations of suc...
Finance : India needs 4 -5 more banks like SBI to meet changing requirements of the Indian Economy: Nirmala Sitharaman FM says Long Term Fut...
Income Tax : Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs laid foundation stone today for office building...
Income Tax : The assets did not fall under any of the above exceptional three conditions. The said block of assets was used for the purpose of ...
Corporate Law : (1) This Act may be called the National Commission for Allied and Healthcare Professions Act, 2021. (2) It shall come into force o...
Income Tax : Whether the full and final settlement of the bills pertaining to LTC Cash Scheme is also to be ensured by 31st March, 2021, withou...
Finance : Finance Minister announces measures of Rs 73,000 crore to stimulate consumer spending before end of this Financial Year in fight a...
Finance : Under LTC Cash Voucher Scheme, the Government has decided to give cash payment to employees in lieu of one LTC during 2018-21, in...
Finance : It has been decided that cash equivalent of LTC, comprising Leave Encashment and LTC fare of the entitled LTC may be paid by way o...
One of the most favoured duty reimbursement schemes among exporters — the Duty Entitlement Passbook (DEPB) scheme — is likely to be scrapped, as the government gears up to introduce the Goods and Services Tax (GST) from April 1. The scheme, which was extended till December 31 in the Foreign Trade Policy 2009-2014, is widely viewed as one of the best incentive schemes by exporters.
The government may take the first step towards fiscal consolidation in Budget 2010-11 by partially rolling back tax cuts given to the industry last year. The service tax rate may be restored to 12 per cent, while excise duty could be increased marginally.
The Finance Minister, Shri Pranab Mukherjee has said that timely and pro-active monetary and fiscal measures have ensured that the growth process remain intact despite the adverse impact of global financial crisis. He was chairing the meeting of Parliamentary Consultative Committee attached to the Finance Ministry, here today.
The finance ministry is likely to keep the corporate tax rate unchanged at 30%, as it faces stiff resistance from companies to the draft direct tax code’s proposal to cut the rate to 25% and remove all exemptions. “Corporates are resisting the phasing out of exemptions even with a lower tax rate,” said a senior government official.
The government is planning to tighten norms governing FDI through partly-paid shares, convertible warrants and units issued by venture capital funds (VCFs), as it looks to prevent misuse of these popular instruments. The finance ministry and the department of industrial policy & promotion (DIPP) have decided that the conditions such as sectoral ceilings, minimum-capitalisation and lock-in period governing foreign investment through equity should be applicable to these instruments. The two sides held consultations following an increase in the quantum of FDI flowing through these windows.
Income Tax authorities are planning to broaden the tax base, seek greater exchange of information under the tax treaties and provide better services to tax payers by 2020 when the direct tax reforms would be firmly in place. The apex direct tax body, Central Board of Direct Taxes (CBDT), has formed seven committees comprising senior revenue officials to come out with a draft Vision 2020 document that would delineate ways to increase tax collections in a non-intrusive manner.
The Institute of Chartered Accountants of India (ICAI) has asked the government to defer the implementation of Goods and Services Tax (GST) from April 1, 2010 by an year to allow for a smoother transition to the new indirect tax framework.
Finance Minister, Shri Pranab Mukherjee held a pre-Budget meeting with the Finance Ministers of States and Union Territories, here today to deliberate on issues that would have a bearing on the annual Budget for 2010-11. In his inaugural speech, Shri Mukherjee said that this meeting is a unique exercise and provides valuable input s to Finance Minister to formulate General Budget and expressed hope that this meeting with the Finance Ministers of States becomes an annual feature.
The annual budget date is being advanced from the normal practice of being presented on February 28, because February 27 is a government holiday on account of Prophet Mohammad’s birthday and February 28 is a Sunday. The Cabinet is expected to approve the date soon.
Also, there have been incidents where mortgaged properties were auctioned off at “undervalued” prices, the sources said. The meeting is to find out whether there was any actual mischief or if it was due to practical difficulties in finding a buyer to pay a higher value for the property as the registered value shown on paper would have been lesser than its actual value, they added.
