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GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

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.

Equities remain bullish over budgetary sops, strong rupee Equities remain bullish over budgetary sops, strong rupee

The bull run at the Indian equities markets continued for the second consecutive week as sops announced in the Union Budget 2017-18, along with a strong rupee and inflow of foreign funds, buoyed investors` sentiments.

 Bill to address bankruptcy in financial sector to be introduced this session: Shaktikanta Das Bill to address bankruptcy in financial sector to be introduced this session: Shaktikanta Das

Government is likely to introduce a Bill for resolution of insolvent financial firms during the current session of Parliament in order to address the bankruptcy issue in the financial sector.

Economy to grow more than 7% next fiscal: Das Economy to grow more than 7% next fiscal: Das

Stepping up the growth pitch, Economic Affairs Secretary Shaktikanta Das today expressed confidence that the economy will grow upwards of 7 per cent next fiscal.

Economy to grow more than 7% next fiscal: Shaktikanta Das Economy to grow more than 7% next fiscal: Shaktikanta Das

Stepping up the growth pitch, Economic Affairs Secretary Shaktikanta Das today expressed confidence that the economy will grow upwards of 7 per cent next fiscal.

Arun Jaitley defends surcharge levy, says rich must pay more Arun Jaitley defends surcharge levy, says rich must pay more

Finance Minister Arun Jaitley Friday justified levy of 10 percent surcharge on rich saying the resources in a largely non-tax compliant society will have to come from the more affluent.

RBI to issue new Rs 100 bank notes soon, old notes to remain valid RBI to issue new Rs 100 bank notes soon, old notes to remain valid

The Reserve Bank will soon put into circulation new Rs 100 bank notes which will be similar to the design of the ones in Mahatma Gandhi Series-2005.

 

Sanjeev Sanyal appointed Principal Economic Adviser in FinMin Sanjeev Sanyal appointed Principal Economic Adviser in FinMin

Government on Friday appointed noted economist Sanjeev Sanyal as Principal Economic Adviser in the Ministry of Finance.

Budget 2017 maintains fiscal prudence sans spending cuts: FM Jaitley Budget 2017 maintains fiscal prudence sans spending cuts: FM Jaitley

Constrained by the need for fiscal prudence, Budget 2017-18 continues on the path of fiscal consolidation without compromising on India's public expenditure, Finance Minister Arun Jaitley said on Friday.

No proposal to link Aadhaar with Railway passes: Govt

The government currently has no proposal to link Aadhaar numbers with railway passes, Railway Minister Suresh Prabhu informed Parliament on Friday.

 

FM Jaitley introduces demonetisation bill in Lok sabha FM Jaitley introduces demonetisation bill in Lok sabha

Finance Minister Arun Jaitley on Friday introduced a bill in Lok Sabha for cessation of govt liability on demonetised currency notes.

 

India's services sector contracts for 3rd month in January, rebound likely India's services sector contracts for 3rd month in January, rebound likely

ndia's services languished, with new business orders falling for the third straight month, amid muted inflationary pressure that could offer RBI much room to remain accommodative in its next policy meet next week.

Specified Bank Notes Bill 2017 likely to be introduced in LS today Specified Bank Notes Bill 2017 likely to be introduced in LS today

The Payment of Wages (Amendment) Bill, 2017 is also scheduled to be introduced in the Lower House.

Taxmen can dig in past 10 years of returns to unearth black money Taxmen can dig in past 10 years of returns to unearth black money

In a significant move to check blackmoney, Income Tax Department can now scrutinise income tax returns of previous 10 years if any search leads them to undisclosed deposits or property of over Rs 50 lakh.

US industry bodies welcomes Union Budget, say it builds on reforms US industry bodies welcomes Union Budget, say it builds on reforms

American industry bodies have lauded the Budget, saying Finance Minister Arun Jaitley has done an "admirable job" in creating a vision that will propel the domestic economy while remaining cognizant about foreign investors eying the Indian market.

File returns by December or lose tax exemptions: Govt to political parties File returns by December or lose tax exemptions: Govt to political parties

Donations to political parties via electoral bonds will be confidential, donor's identity not to be disclosed, Adhia said.

Arun Jaitley interacts with industry leaders post Budget; says we have a non-tax compliant population Arun Jaitley interacts with industry leaders post Budget; says we have a non-tax compliant population

Jaitley addressed Industry leaders at a post budget OPEN HOUSE Programme in New Delhi.

Union Budget 2017: Top 10 announcements Union Budget 2017: Top 10 announcements

Here are top 10 announcements made by the Finance Minister in his Budget speech.

Lord Swraj Paul describes General Budget as growth-oriented

Commenting on the budget presented by Finance Minister Arun Jaitley in Parliament today, Lord Paul, Chairman of the Caparo Group of Industries, said "Congratulations to Jaitley. It is a very good budget and it is growth-oriented".

Arun Jaitley's Budget 2017 pro-women: NCW Chairperson

National Commission for Women (NCW) Chairperson Lalitha Kumaramangalam today congratulated Finance Minister Arun Jaitley for the pro-women measures announced in the Union budget.

Budget 2017: Mixed reaction by aviation, tourism industry experts

Terming the budget as "overall, a well-balanced, pro-poor, pro-growth budget" Amber Dubey, Partner and Head (Aerospace and Defence) of KPMG in India said the announcement of select AAI airports in Tier 2 cities to be taken up for operation and maintenance in PPP mode is a development step.