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.
In a bid to crackdown on unruly passengers, Air India has formulated new rules, under which it proposes to impose a fine of up to 15 lakh for causing a delay beyond 2 hours.
Wholesale inflation eased to 5.70 percent in March on softening prices of pulses, potato and onion, making the case for a rate cut in August even stronger.
India’s economic momentum is expected to pick up speed from 6.8 percent in 2016 to 7.2 percent by 2017 after a modest setback due to weaker than expected investments and the effects of the withdrawal of large denomination bank notes.
Cash and ATM management companies will soon be allowed to attract 100 percent foreign direct investment as they are not required to comply with the Private Security Agencies (Regulation) Act (PSARA).
For the year to March, banks' outstanding credit stood at Rs 78.81 trillion compared to Rs 75.01 trillion as of April 1 2016, show the central bank data.
Arresting the trend of withdrawals that began in December, the net balance in Jan Dhan accounts swelled by Rs 1,000 crore to Rs 63,971.38 crore during the week ended April 5.
Tax officials of the central and state governments will this week hold their maiden meeting on devising a formula for tax rate to be levied on services under the Goods and Services Tax (GST) regime from July 1.
The price of petrol late on Saturday hiked by Rs 1.39 per litre and diesel by Rs 1.04 a litre in sync with firming international rates.
The All India Tax Advocates` Forum (AITAF) has urged Finance Minister Arun Jaitley to completely scrap the proposed E-way bills under the new tax regime of the Goods and Service Tax (GST) for convenience of small time traders as well as prevention of their probable harassment.
Racing against time for GST rollout, Central Board of Excise and Customs (CBEC) chief Vanaja N Sarna has sanctioned Rs 1 crore to each of 23 zones to conduct an outreach programme about the new tax regime.
The ban on alcohol sale within 500 metres of highways will impact up to 30 percent of premium hotels.
Union Commerce Minister Nirmala Sitharaman on Friday invited Japanese companies to explore investment opportunities in India and highlighted the Centre's various reform initiatives to boost infrastructure landscape in the country.
The government has created buffer stocks of 18 lakh tonnes of pulses so far and also decided to procure dals from farmers till April 22, Food and Consumer Affairs Minister Ram Vilas Paswan said today.
Moving goods worth more than Rs 50,000 under GST will require prior online registration of the consignment and securing an 'e-way bill' that tax officials can inspect anytime during the transit to check tax evasion.
The reserves had increased by $2.022 billion to $369.954 billion in the previous reporting week.
President Pranab Mukherjee on Friday underscored the need for India to be a global powerhouse not just in terms of economic parameters but also 'Gross National Happiness'.
The survey observed that the demand for air conditioners (ACs) has shot up in the last three weeks in all major cities across the country, with sales expected to increase by 40-45 percent this year.
Trademark applications in the country filed by foreign companies have doubled to 15,670 in 2015-16, reflecting renewed interest in Indian market.
Moody's Investors Service on Friday said India's credit profile would improve if it follows the fiscal discipline path and set up a fiscal council as recommended by the FRBM panel.
Prime Minister Narendra Modi on Friday launched the BHIM-Aadhaar digital payments platform to boost the digital payments revolution.