If anyone possesses property above Rs. 1 crore including watches and paintings, then the person have to pay extra property tax for that, Pranab Mukherjee going to announce this in the financial budget 2012. The proposed Direct Tax Code (DTC) was supposed to replace the existing Income Tax Act 2012, has suggested to pay 1% […]
Sam Pitroda, adviser to PM and Anil Kakodkar suggested to improve the security issues in train in this Railway Budget 2012. This recommendation was done by keeping 23 million regular commuters in Indian Railways every day. Unlike other experts in the past, Pitroda haven’t discussed about increasing railway fares and why railway is running in […]
The Non-Residential Indians (NRIs) expects from the Finance Minister to reduce the Tax Reduction at Source (TDS). NRIs are charged with TDS and they want some relaxation, whereas Resident Indians are charged with TDS only when income exceeds a certain limit. There is no such rule for the NRIs. Financial Budget 2012 for NRIs The […]
Finance Ministry is on a go to recover the fiscal deficit. As a part of this the government is planning to put back the excise duty cut on diesel. According to the data given by the oil ministry officials the government will be able to get a minimum Rs.35, 000 crore only by increasing the […]
Due to the higher prices of food and crude oil, the consumer price inflation was 7.65% in the month of January, 2012 which is comparatively high to the wholeale price inflation of the same month. This is the first time that Central Statistics Office (CSO) has come up with the details of the whole Indian […]
The cabinet Committee on Economic Affairs (CCEA) is supposed to increase the import duty on power equipment by 19% for the plants which are producing more than 1000 MW. The cabinet is to finalize their decision within next 15 days. If the proposal will be approved then, the major power manufacturers like BHEL, L&T and […]
The Finance Minister, Pranab Mukherjee on Sunday announced that, all the nationalized banks will get enough capital to fight against the economic short comings in the country. During the inauguration of the new corporate office of the Oriental Bank of Commerce, Mukherjee added that, “Government is working on the way to provide adequate capital to […]
Before the budget, some of the Ministers of Parliament’s group scrutinized the Direct Taxes Code (DTC) Bill today praised for raising the income tax release limit up to Rs. 5 lakhs per annum. The Standing Committee of Finance, met under the Chairmanship of BJP leader, Yashwant Sinha, has decided to settle this report by March […]
