The Government may announce a 6% hike in the total Social sector and Developmental expenses in the upcoming Union Budget. Although Finance Ministry was a bit reluctant over the increase as due to the fiscal pressure, the planning Commission oversees the spending plan favoring to a reasonable increase. With the 6% hike, the Social and […]
To combat with the inflationary pressures, the finance minister is more likely to announce numerous tax amendments and concessions in the coming Union Budget for the financial year 2013-2014 to be announced before the Parliament on 28th February 2013. For people who stay in rented accommodations and do not have their own houses and employees […]
With the sole view of boosting up industrial activity and stimulating economic growth in the coming financial year, the government is making up its mind to expand the infrastructure sector definition. According to sources, though infrastructure definition is included in the Income Tax as well as Direct Taxes Code, the definition may be expanded to […]
The GAAR application has been deferred by a year due to the protest of both foreign and Indian investors. This will be implanted on the year 2013 and 2014. In order to address the problem with GAAR, a special committee that will discuss the rules and guideline for the implementation of GAAR was established. We […]
Major real-estate developers have expressed their unsatisfaction over the recently announced Union Budget 2012. Listed below are some of the major concerns raised by builders and real estate developers after the budget was announced. Prescription of the Economic Survey was ignored, which had projected the share of India’s realty industry to grow from 5 percent […]
The E-Commerce companies and their experts are expecting the prices of the online products to get lower with the implementation of the Goods and Services Tax. The Finance Minister Pranab Mukherjee announced GST to add in the list from August 2012 onwards. Raja Lahiri, Partner-Transaction Advisory Services, Grant Thornton, said that, “This is very positive […]
The shares of the public sector banks rallied sharply on the bourses, as the Finance Minister, Pranab Mukherjee, declared capital infusion for them in the Union Budget 2012-13. Mukherjee also added that, Rs. 15, 888 crore will be provided for the capitalization of public sector and regional rural banks and NABARD. In this situation, a […]
It was expected that General-Anti Avoidance Rules (GAAR) is introduced in the financial budget of 2012-13. This rule is giving more power to the income tax department. They can deny tax benefit if they are observing any kind of way to avoid the tax payments to the government. For example, if an entity is well […]
