Community & General News
Service Tax Exempted on Copyrights Relating to Recording of Cinematographic Films
17 March 2012 at 13:04There is something to cheer about for the film industry in the Union Budget 2012-13. While presenting the Union Budget 2012-13 in LokSabha today, the Finance Minister ShriPranab Mukherjee said that the year 2012 marked the beginning of the Centena
Lumpsum Grant Under National Family Benefit Scheme Doubled
17 March 2012 at 13:04In order to strengthen the social security and fulfill the needs of weaker sections, the Union Finance Minister ShriPranab Mukherjee announced a hike of 37 percent in the allocation for National Social Assistance Programme (NSAP) from Rs. 6,158 cr
Dip in Tax Revenue and Increased Subsidies hit Fiscal Balance Amendments Introduced to FRBM ACT
17 March 2012 at 13:04The Union Finance Minister ShriPranab Mukherjeewhile presenting the Union Budget 2012-13 announced introduction of amendments to the Fiscal Responsibility and Budget Management Act, 2003 (FRBM Act). The two important features of this amendment in
Advance Pricing Agreement Introduced
17 March 2012 at 10:22With a view to bring down Tax litigation and provide Tax certainty to the foreign investors, the government has introduced the Advance Pricing Agreement (APA) in the Finance Bill 2012. While presenting the Budget 2012-13 in LokSabha today Shri Muk
Curbing the Black Money A Priority Concern for the Government
17 March 2012 at 10:22Curbing the Black Money A Priority Concern for the Government; Number of Proactive Steps To Tackle the Malaise Announced; White Paper to be Laid in Current Session Itself: FM The Budget proposals envision a multi-pronged strategy to prevent the
Cenvat Credit Rules, 2004 - Simplified scheme for refunds
16 March 2012 at 23:47F. Cenvat Credit Rules, 2004: F.1. Simplified scheme for refunds: 1. A simplified scheme for refunds is being introduced by substituting the entire Rule 5 of CCR, 2004. The new scheme does not require the kind of correlation that is needed at p
Point of Taxation Rules, 2011-Changes effect from Apr 1, 2012
16 March 2012 at 23:271. The time period for issuance of invoice is being increased to 30 days ordinarily and 45 days for banks and financial institutions (to reconcile with the business practice of issuing monthly statement). These changes are being provided in Rule
Rs 60,000 crore tax free bonds to finance infrastructure projects
16 March 2012 at 23:26During the 12th Plan period, infrastructure investment is expected to cross Rs 50 lakh crores, with half it coming from the private sector. For funding the infrastructure projects, Tax Free Bonds of Rs 30,000 crores were announced during 2011-12
50% tax deduction to be available under Rajiv Gandhi Equity Savings Scheme
16 March 2012 at 23:26To encourage flow of savings in financial instruments and improve the depth of domestic capital market a new scheme called Rajiv Gandhi Equity Savings Scheme is being introduced. The scheme would allow for income tax deduction of 50 per cent to ne
Union Budget spells out five pronged strategy to manage growth
16 March 2012 at 23:26The Union Budget 2012-13 presented by the Finance Minister Mr. Pranab Mukherjee identifies five objectives to to be addressed effectively in the ensuing fiscal year. They are growth recovery driven by domestic demand, boost to private investment,
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