Government notifies roll back of import duties on mobile components

Government notifies roll back of import duties on mobile components

 The Central Board of Excise and Customs (CBEC) has issued notifications partly rolling back import duties of 29.441 per cent imposed on key mobile phone components such as chargers and batteries.

FM rules out rollback of excise duty on jewellery

FM rules out rollback of excise duty on jewellery

Finance Minister Arun Jaitley today rejected demands, including from ally Shiv Sena, for rollback of one per cent excise duty on non-silver jewellery and asserted that jewellers will have to pay taxes.

Lok Sabha approves Finance Bill 2016

Lok Sabha approves Finance Bill 2016

The Lok Sabha on Thursday passed the Finance Bill, 2016 by a voice vote.

Uttarakhand ministers scuffle over demand of voice vote on Finance Bill

A scuffle broke out between Uttarakhand ministers Harak Singh Rawat and Mantri Prasad Nethani inside the state Assembly here on Friday over the demand for voice vote on the Finance Bill.

LPG subsidy not to be taxed: Finance Ministry

Finance Ministry on Tuesday clarified that LPG subsidy received by individuals in their bank accounts will continue to be exempt from income tax.

Taxability of LPG subsidy unclear; experts seek clarification

Taxability of LPG subsidy and other direct benefits paid directly into bank accounts of beneficiaries is unclear with tax experts divided on the issue and want an explicit clarification from the government.

Govt to soon come out with simplified ITR form: Arun Jaitley

Responding to the Finance Bill debate in Parliament, Jaitley said that the ITR form will be overhauled and the new form will be finalised soon.

LS passes demand for grants; to take up Finance Bill Thursday

The Lok Sabha Wednesday voted demands for grants of various ministries to the tune of over Rs 60 lakh crore without any discussion after applying guillotine on the debate.

RBI staff concerned over Budget proposals in Finance Bill

Fearing curtailment of RBI's authority, a group of its officers and employees have written to MPs and chief ministers of various states regarding Budget proposals in the Finance Bill.

Don't pay higher service tax of 14% as Finance Bill not yet passed

The Finance Ministry on Saturday asked people not to pay higher service tax of 14 percent, proposed in the Budget, as the Finance Bill has not yet been passed by Parliament.

Confusion on RBI Act changes to be cleared in House: FM Jaitley

Jaitley did not elaborate on this and also parried questions on tax issues related to foreign portfolio investors (FPIs).

Govt to take final view on GAAR shortly: Jaitley

Government will shortly take a call on the controversial tax proposal, General Anti-Avoidance Agreement, which was deferred till April 2015 by the UPA regime, Finance Ministry Arun Jaitley on Friday said.

Marginal relief to MFs; new tax rate effective from Jul 10

In a small relief to the mutual fund industry, Finance Minister Arun Jaitley on Friday announced that the increased tax rate of 20 percent on debt MFs will not apply on units sold between April 1 and July 10.

India's budget passed by Lok Sabha

The Lok Sabha Friday passed the Finance Bill, 2014 by a voice vote. The bill, which is primarily the legislative proposals of the national budget for this fiscal, notably on taxes, will now go to the Rajya Sabha for approval.

India exempts debt mutual funds from new tax for a short period

He also increased the long-term capital gains tax rate on debt-linked mutual funds to 20 percent from 10 percent.

Jaitley announces some concessions, tax on MF from July 10

The Lok Sabha later passed the Finance Bill, 2014 completing the budgetary exercise in the Lower House.

India's Finance Bill passed by Lok Sabha

The bill was passed after Finance Minister Arun Jaitley gave his reply to the debate on the budget.

No retro tax on debt Mutual Fund: Arun Jaitley

Jaitley said that higher tax on debt mutual funds will apply prospectively from July 10.

Government to not retrospectively tax debt fund investors

The government will not retrospectively tax debt fund investors, as per Zee news sources.

Finance Bill expected to be passed by parliament on July 28

The Finance bill, whose passage signals the end of the budgetary exercise, is coming up for discussion in the Lok Sabha on July 24 and 25, Minister of State for Parliamentary Affairs Prakash Javadekar told reporters.