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Basic Custom Duties Reduced on Certain Items to Encourage Investment and Domestic Production
10 July 2014 at 15:51To boost domestic manufacture and to address the issue of inverted duties, the General budget 2014-15 has reduced basic customs duty (BCD) on certain items. To encourage new investment and capacity addition in the chemicals and petrochemicals sector,
Indirect Tax Proposals in Budget 2014
10 July 2014 at 15:51INDIRECT TAXES PROPOSALS To boost domestic manufacture and to address the issue of inverted duties, basic customs duty (BCD) reduced on certain items. To encourage new investment and capacity addition in the chemicals and petrochemicals
More Services Bought in the Service Tax Net, Indirect Taxes to Yield Rs.7525 Crore
10 July 2014 at 15:51To broaden the tax base in Service Tax, sale of space or time for advertisements in broadcast media has been extended to cover such sales on other segments like online and mobile advertising. Announcing the tax proposals, the Finance Minister Shri Ar
Direct Tax Proposals in Budget 2014
10 July 2014 at 15:07Personal Income-tax exemption limit raised by Rs50,000/- that is, from 2 lakh to Rs2.5 lakh in the case of individual taxpayers, below the age of 60 yeaRs Exemption limit raised from Rs 2.5 lakh to Rs 3 lakh in the case of senior citizens.
Enactment of Indian Financial Code Necessary for Better Governance and Accountability: FM
10 July 2014 at 14:24The Finance Minister Shri Arun Jaitley in his maiden Budget Speech advised financial sector regulators to take early steps for a vibrant, deep and liquid market. Shri Jaitley also proposed to extend a liberalized facility of 5% withholding tax to all
Fresh Cases Arising Out of Retrospective Amendments of 2012 to be Scrutinised by High Level Committee: FM
10 July 2014 at 14:24All fresh cases arising out of the retrospective amendments of 2012 in direct transfers will be scrutinized by High level committee to be constituted by the CBDT before any action is initiated in such cases. Announcing this during his Budget Speech i
Legislative and Administrative Changes Proposed to Reduce Litigation in Direct Taxes
10 July 2014 at 14:20Government has proposed certain legislative and administrative changes with a view to reduce litigation in direct taxes. Announcing this in his maiden Budget Speech in the Parliament today, the Union Finance Minister Shri Arun Jaitley said that resid
Major Highlights - Union Budget 2014-15
10 July 2014 at 13:54Government committed to achieve fiscal deficit of 4.1% for 2014-15.Subsidy regime to be made more targeted for full protection toThe marginalized, poor and sc/st.Government to promote fdi selectively in sectors.Rs 1000 crore provided for "pradha
Next Wave of Financial Reforms to Strengthen Institutional Foundations for a Globalized India
09 July 2014 at 18:11In a fast changing world, financial policy has to catch up with the needs of future India that people are aspiring to build. The Economic Survey 2013-14 mentions that the next wave of reforms will be through strengthening the institutional foundation
GST to be a Major Milestone for Indirect Tax Reform
09 July 2014 at 18:10GST to be a Major Milestone for Indirect Tax Reform DTC required as a Clean Modern Replacement for existing it laws In a non-market economy, in addition to laws, taxes and subsidies are used for encouraging or discouraging activities that the central
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