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...
The government will take inputs from various stake holders before giving final shape to Direct Taxes Code, said the Finance Minister Pranab Mukherjee while addressing the second meeting of the parliamentary consultative committee attached to the Ministry of Finance, here today.
In spite of the optimism shown by Asim Dasgupta, chairman of the empowered committee of state finance ministers, the much-anticipated goods and services tax (GST) is unlikely to be introduced on April 1, 2010. The process of Constitutional amendment to bring the new indirect tax legislation may take another five months. “It will take 5-6 months for the amendment and everything else to fall in place. Besides, wecannot start work on things like IT infrastructure as long as a final GST structure is not there,” a highly-placed government official said.
The Centre has turned down the proposal of the empowered group of state finance ministers to keep alcohol out of goods and services tax. The government has in fact suggested that both alcohol and tobacco, which are demerit goods and considered harmful for health, should be kept under GST, with the states getting the power to levy excise duty over and above GST on alcohol. The Centre would have the same power in case of tobacco.
India will not tax foreign funds at their point of entry as the government believes the economy is resilient enough to absorb the dollar deluge. Such a tax on foreign inflows — called the Tobin tax, after its proponent, 1981 Economics Nobel winner James Tobin of the US — is being fiercely advocated by the EU and the UK, while Brazil has already imposed a 2 per cent levy. Finance minister Pranab Mukherjee, however, does not favour a tax on finances entering India. He told Parliament today that “the market mechanisms have sufficient resilience and have been functioning normally”.
Finance Minister Pranab Mukherjee on Friday indicated the government could rewrite the new direct tax code to make it acceptable to all stakeholders. On the tax code, he said, the government would attempt to build consensus on the proposals. “I have laid a certain proposal in the form of a direct tax code. But it is not the Bhagwad Gita and it cannot be said that it cannot be changed,” he added.
services provided by Chartered Accountants, Cost Accountants and Company Secretaries as well as by engineering and management consultants are presently charged to Service Tax. Although there is a school of thought that legal consultants do not provide any service to their client, I hold my distinguished predecessor in high esteem and disagree! As such, I propose to extend Service Tax on advice, consultancy or technical assistance provided in the field of law. This tax would not be applicable in case the service provider or the service receiver is an individual.
The government today shot down a suggestion in the Lok Sabha for setting up a committee under the Member of Parliament in respective constituencies for monitoring disbursement of loans by banks to priority sector like agriculture, small and medium enterprises.
Banks are making a strong pitch to the government for permission to issue tax-free bonds to fund infrastructure projects. Bankers, who are expected to again take up the issue with the finance ministry next week, are arguing that the bonds will help them raise long-term resources and reduce dependence on retail fixed deposits, whose maturity is getting shorter. In recent months, banks have been saddled with deposits in the one-year maturity bucket, while infrastructure loans have a tenure of 15-20 years.
Businesses with more than Rs 10 lakh turnover may end up paying the central goods and services tax, with the Centre not agreeing to states’ suggestion of keeping the threshold at Rs 1.5 crore. The empowered committee of state finance ministers had suggested separate thresholds for central GST and state GST, wherein businesses below a […]
Himachal Pradesh and Uttarakhand, the two Himalayan states which have drawn thousands of crores of investments due to the tax benefits they offer, stare at the possibility of losing the status as Finance Minister Pranab Mukherjee looks to plug loopholes and boost revenues for a government that’s on a spending spree.
