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Govt to take final view on GAAR shortly: Jaitley

Govt to take final view on GAAR shortly: Jaitley

Last Updated: Friday, July 25, 2014, 18:55

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.

Govt not to hike import duty on sugar

Govt not to hike import duty on sugar

Last Updated: Friday, July 25, 2014, 17:50

Rejecting the demand to hike import duty on sugar to 40 percent, the Finance Ministry on Friday said the levy will be retained at the existing level of 15 percent.

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

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

Last Updated: Friday, July 25, 2014, 17:34

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.

No proposal to lower gold import duty: FinMin

No proposal to lower gold import duty: FinMin

Last Updated: Friday, July 25, 2014, 16:42

The Finance Ministry on Friday said at present it has no proposal to lower customs duty on gold from the current 10 percent.

India's budget passed by Lok Sabha

India's budget passed by Lok Sabha

Last Updated: Friday, July 25, 2014, 16:30

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.

Direct tax collection on rise: FM

Direct tax collection on rise: FM

Last Updated: Friday, July 25, 2014, 16:27

Reasonable tax rates lead to voluntary compliance in paying taxes and government has means like search and seizure to make people pay their dues, the Lok Sabha was informed on Friday.

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

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

Last Updated: Friday, July 25, 2014, 15:29

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

Jaitley announces some concessions, tax on MF from July 10

Last Updated: Friday, July 25, 2014, 15:13

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

India's Finance Bill passed by Lok Sabha

Last Updated: Friday, July 25, 2014, 13:48

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

Govt starts consultations for enacting law for MFIs

Govt starts consultations for enacting law for MFIs

Last Updated: Friday, July 25, 2014, 13:46

Government has started consultations with all stake-holders, including state governments, for enacting a law to regulate Micro Finance Institutions (MFIs) for ensuring interests of customers.

India preparing to take final decision on controversial GAAR tax rules: FM

India preparing to take final decision on controversial GAAR tax rules: FM

Last Updated: Friday, July 25, 2014, 13:44

Jaitley did not give a timeline for the decision or more details.

No retro tax on debt Mutual Fund: Arun Jaitley

No retro tax on debt Mutual Fund: Arun Jaitley

Last Updated: Friday, July 25, 2014, 12:56

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