GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.
India features among top six for global executives when it comes to overall growth prospects over the next 12 months, but enthusiasm for investing in the country has dropped from three years ago, finds out a survey.
With just a fortnight left for the presentation of the Union Budget, students are hoping that the forthcoming Budget would see some special announcemts being made by the Finance Minister.
Every household is run by the women on a certain Budget and the impact of the Union Budget is directly proportional with their expenditure.
The government may soon facilitate an income transfer scheme paving the way for a national social security system for poor and unemployed in the country.
Notwithstanding demonetisation, Indian consumers are the most optimistic in the Asia Pacific region and their outlook on economy and stock market showed highest levels of confidence, says a report.
The Income Tax department Monday said it has unearthed a black money racket of over Rs 1,550 crore and a maze of shell firms and entities, perpetrated by entry operators and hawala dealers in the wake of demonetisation.
The International Monetary Fund (IMF) on Monday forecast India's economic growth at 7.8 percent for the financial year 2018, way ahead of China's 6 percent growth for the same period.
The Centre and the states on Monday came to a consensus on dual control of the goods and services tax (GST) with the Centre agreeing to allow the states to control over small tax payers.
Expecting attractive sops from the impending union budget, travel and tour operators have asked the government to exempt service tax on foreign exchange earned on inbound tours in the upcoming Budget.
The International Monetary Fund (IMF) on Monday cuts India's growth rate to 6.6 percent from 7.6 percent due to impact of demonetisation taken by the Modi government in November.
Commenting on inflation and its impact on fuel prices, industry chamber ASSOCHAM on Monday said the firming of crude prices in the global markets will impact the fuel prices in India.
In a major boost for the government, Finance Minister Arun Jaitley on Monday informed that a consensus between the state and the centre has been reached on dual control of the goods and services tax (GST).
The presentation of Union Budget has a couple of factors for consideration this year that makes it distinct.
Commerce and Industry Minister Nirmala Sitharaman today indicated that start-ups may get additional tax benefits in the forthcoming budget, to be unveiled on February 1.
PAC Chairman K V Thomas today said a meeting with Finance Ministry officials has been deferred to February 10 in view of Budget preparations but RBI Governor Urjit Patel will appear before it as per schedule on January 20 on the demonetisation issue.
Inverted tax structure in pharma, chemicals and petrochemicals industry needs to be rectified in the upcoming Budget, Chemicals and Fertiliser Minister Ananth Kumar said.
We have compiled a list of 50 lesser known Budget facts. The list is as follows:
The Budget is full of technical jargons that are not so easy for the common man to understand.
The government is likely to achieve its fiscal deficit target of 3.5 percent of GDP in the current fiscal but higher infrastructure spending will limit the room to reduce it further to 3 percent in 2017-18, Moody's said today.