The BilL needs to be passed by a majority of two-thirds in both Houses and by the legislatures in half of the 29 states.
It will now be difficult for the developed nations to push their agenda of implementing the TFA.
Uttar Pradesh had 6.59 crore people employed in FY10, mostly in the agriculture sector, as per Planning Commission data.
The government has budgeted Rs 6,24,902 crore from indirect taxes this year.
The agency will be meeting finance ministry officials on August 12.
Shaktikanta Das lists the reasons for his confidence on economic revival and meeting the revenue targets.
Groupon India is offering a cash-back offer on rail fares, something never done before
State finance ministers’ panel set to go to China, Russia next month.
Tiwari said that the department will also discuss measures to collect the arrears and meet the current year’s target.
The income tax department also plans to enhance monetary fines against taxpayers who do not comply with its orders with rigorous imprisonment
These academies certify the students by providing a regular course for a period of six months to a year.
Prior to the amendment, an interest rate of 13 per cent was charged for the delay in depositing the service tax.
GST aims to replace almost all the indirect taxes in the country with a single tax.
Now, companies will be responsible for paying the service tax on the services of independent directors instead of the directors themselves. In a move to plug the leakage of revenue, the Budget 2014-15 has said the service tax payable by independent directors for the services provided to the company will now be paid by “body […]
The clarification comes amid a slew of measures announced by FM Arun Jaitley in his maiden Budget.
The MCA has already identified 77 issues.
The Indian Express reported earlier that select trains will offer workstations for a payment.
The move will go a long way in narrowing the huge trade deficit India faces with China.
Smuggling up by 600% in terms of amount confiscated, with 2,700 seizures worth Rs693 cr in FY14.
Badal’s letter comes at a time when Sitharaman and her counterpart in Pakistan Khurram Dastgir Khan are likely to meet on the sidelines of the SAARC summit next month
The meetings are significant because segments of Indian domestic industry have said the government should only allow a 49 per cent stake for foreign investors in defence production.
Arun Jaitley said he will write to the Swiss finance minister for information on tax evaders.
Under the Section, the Centre has to nominate one director who has been a CA for not less than 15 years.
A change has been proposed in the investment threshold on machinery doubling it to R20 crore.
The fallout of the move was higher disclosure requirements, application of transfer pricing provisions and high withholding of tax of 30 per cent in India.
Automobile industry, as per Siam, contributes 25 per cent to the manufacturing GDP and comprises 18 per cent of the total excise collection.
This is the same report that was dismissed by ex-commerce and industry minister Anand Sharma as a private study done by Accenture.
The government may introduce a scheme on the lines of the additional deduction of Rs 20,000 given for investment in long-term infrastructure bonds in Budget 2010-11.
India’s stance comes even as the Mediterranean nation has begun sharing information.
This includes asking for continuing with the fiscal stimulus, which if accepted will stymie the movement towards a goods and services tax.
The official said that the survey would be much smaller than last year’s, which had around 300 pages with around 150 for the appendix.
Sitharaman also met Serious Fraud Investigation Office officials to discuss ongoing investigations.
With limited resources, the finance ministry is also keen for banks to consider raising about Rs 8,000 crore of capital on their own and is discussing these options with the Reserve Bank of India.
There are indications that the Modi government would merge existing ministries in complementary areas to remove anomalies and to deliver effective governance.
The committee would also discuss issues ranging from multiplicity and complexities of labour laws.
Last year, the ministry came out with a revamped SEZ policy, but got little interest from developers due to the lack of fiscal incentives.