Presenting the General Budget 2011-12 here today, Shri Pranab Mukherjee, Finance Minister informed that to deal with the problem of generation and circulation of black money, the government has put into operation a five-fold strategy which consists of joining the global crusade against black money; creating an appropriate legislative framework; setting up institutions for dealing with illicit funds; developing systems for implementation and imparting skills to the manpower for effective action.
Finance Minister Pranab Mukherjee is likely to accept exporters demand, like extension of concessional credit scheme, when he presents the General Budget in Parliament tomorrow. While exports are showing healthy growth rate of over 29 per cent, exporters are hoping that Mukherjee would not roll back the stimulus as demand in the western markets are still […]
Amid sharp differences over making CSR mandatory, the government may ask corporates to only disclose to shareholders whether they have made a contribution of 2 per cent of net profit toward corporate social responsibility activities.
When the Union Budget 2011-12 is tabled in Parliament today, it can be a “game changer” for the stock market, which is currently grappling with macro-concerns, including inflation and the crisis situation in the Middle East and North Africa, say experts.
With high inflation, especially food prices much beyond comfortable levels, the Budget is likely to provide sops to the farm sector including reduction in interest rate to 4 per cent for timely re-payments and boosting investments in agri-infrastructure. At present, farmers get credit at a rate of 7 per cent.
Finance Minister Pranab Mukherjee is likely to announce steps to boost the infrastructure sector in his Budget tomorrow with a view to sustaining over 9 per cent growth in the coming years. The initiatives could include raising the limit for investment in tax saving infrastructure bonds and providing special thrust to plan expenditure for sectors like […]
Tax experts are hopeful Finance Minister Pranab Mukherjee will increase the income tax exemption limit to Rs 2 lakh per annum from Rs 1.6 lakh to bring the rates in line with the Direct Taxes Code (DTC). To align the exemption limits under personal income tax with DTC, the Centre is likely to raise the IT exemption limit to 2 lakh
An American employee of Infosys has filed a case against the company accusing it of visa and tax fraud. In his complaint filed before an Alabama Court early this week, one Jack Palmer said he worked for Infosys “as a Principal – Enterprise Solutions” since August 2008.In his-13 page complaint, he alleged that Infosys sent lower […]
Railway Minister Mamata Banerjee presented the Railway Budget for 2011-12 on Friday. While her supporters hailed the budget, her detractors are up in arms, dumping the budget as the West Bengal poll manifesto. Though a host of pro-public announcements made by her in the last Railway Budget (2010-11) has been implemented, Indian Railways’ finances have gone from […]
Keeping with an interim order passed by the Supreme Court in connection with the disbursement of funds of Harshad Mehta Group (HMG),the Bombay High Court has directed the custodian of assests of the late stock broker to release Rs 1995.66 crore to the Income Tax department, to clear their dues.
