Service Tax : Rate of Service Tax, Introduction of Negative List approach, Changes in Valuation Rules, CENVAT Credit Rules, Retrospective cha...
Income Tax : The finance minister retained most of his other proposals, providing only marginal relief to industries such as automobiles, garme...
Income Tax : Direct Tax Code (DTC) Bill introduced in Lok Sabha on Monday, August 30,2010 by Finance Minister Mr. Pranab Mukherjee, Will now be...
Income Tax : Centralized processing centres for improving tax payer services in two more places. Union Finance Minister Shri Pranab Mukherjee h...
Income Tax : Preparations for Finance Minister Pranab Mukherjee’s second full Budget under the Manmohan Singh government should be an area of...
Service Tax : Registration of a manufacturer will be cancelled automatically if excise duty returns are not filed for six months, as per the lat...
Income Tax : Finance Minister Pranab Mukherjee today said that persons investing in stock markets through participatory notes, P-Notes, will no...
Income Tax : The government on Sunday said it has no vindictive intention in retrospectively amending tax laws and has no plans to re-open a la...
Finance : Last year I provided relief to individual taxpayers by enhancing the exemption limit as a move towards DTC rates. Although DTC wi...
Income Tax : Master Form-16 New FY 11-12 for Up to 100 Employees. Download File to Prepare Form 16 of upto 25 Employees with Indian Rupee Font...
Income Tax : Inauguration of Income Tax Office at Chinsurah, Dist-Hooghly, West Bengal by Honble Union Finance Minister Shri Pranab Mukherjee o...
Corporate Law : Finance Minister Pranab Mukherjee on Monday allayed fears of withdrawal of the cashless mediclaim facility by public sector genera...
Corporate Law : The Finance Minister, Shri Pranab Mukherjee has asked insurance industry to give more focus to generate the required level of awar...
The government will lose over Rs 53,000 crore (Rs 530 billion) in tax revenue on account of the increase in exemption limits and tweaking of slabs in the Direct Taxes Code Bill, which will come into effect from April 1, 2012, a year behind the previous deadline.
Direct Tax Code (DTC) Bill introduced in Lok Sabha on Monday, August 30,2010 by Finance Minister Mr. Pranab Mukherjee, Will now be applicable from April 1, 2012 instead of earlier proposed date April 1,2011. This bill comparatively offers lower benefits as compared to the original bill. Download DTC Bill 2010 Highlights of DTC are as […]
A few months ago, Gujarat Chief Minister Narendra Modi walked up to Finance Minister Pranab Mukherjee and said: “Gujarat is awaiting the Goods and Services Tax (GST) eagerly.” On Tuesday, at a meeting of state finance ministers where it was decided that a decision on GST would be deferred by a month, possibly leading to an indefinite postponement in its rollout, BJP-ruled Gujarat was at the forefront in opposing the tax in its present form.
The Union Finance Minister Shri Pranab Mukherjee had a meeting with the Empowered Committee of State Finance Ministers to finalize the draft Constitutional Amendments on Goods and Services Tax, here today. Addressing the meeting, the Finance Minister emphasized that the primacy of the Legislature in the area of taxation is supreme and inalienable and that the proposed draft on GST did not seek to disturb or alter this in any manner.
Over Rs 12,000 crore in tax demands was locked on account of disputes, pending resolution at various courts, as on June 30, 2010, Parliament was informed on Friday. While cases involving tax demand of about Rs 7,635 crore are pending in Income Tax Appellate Tribunal (ITAT), around Rs 3,849 crore is locked up in cases with High Courts, Finance Minister Pranab Mukherjee told the Lok Sabha in a written reply.
Union Finance Minister, Shri Pranab Mukherjee will review the performance of all Public Sector Banks (PSBs) and Financial Institutions (FIs) in a meeting to be held here tomorrow. This will include annual review of banks performance in the field of agriculture credit, micro, small and medium enterprise credit, housing loan, education loan, deposits, credit deposit ratio, gross and net non-performing assets (NPAs) and return on assets among others.
The Centre, in a redrafted constitutional amendments bill for the proposed Goods and Services Tax (GST), has suggested that the states also be given a veto power along with the Centre in the proposed GST council so that every decision taken by the council is approved only when all the states and the Centre agree to it.
“I have no intention of becoming the Super Finance Minister to interfere with the State GST…They (states) will have their rights as I shall have my right,” he said while replying to the discussion on the supplementary demand for grants.
In yet another blow to the Centre’s plans on the proposed GST, the states today categorically stated that petroleum products will be out of the proposed indirect tax regime, even as the Centre pressed for the same saying such a move can check wild volatility in fuel prices.
The billions of rupees stuck in courts and rising tax litigation have invited the attention of finance minister Pranab Mukherjee as he pushes through a major reform in the country’s tax regime.
