New Delhi: Union Finance Minister Pranab Mukherjee on Tuesday replied to the Finance Bill in Lok Sabha, pointing that oil prices were mounting everyday. Asserting that the government had the capacity to respond to any challenge, he said that subsidies constituted a major part of it. Addressing the House, the Finance Minister said that there was a need for all the stake holders to get going together to improve the...
04:53 PM, May 08, 2012
New Delhi: The Finance Bill will be discussed in Parliament on Monday as the investors are hoping to get some clarity on the General Anti-Avoidance Rule, which is expected to pull the market out of its three-month dip. Parliament is likely to vote on the bill over the next two days. After days of what traders said was intervention to defend the rupee, the Reserve Bank of India late on...
06:24 AM, May 07, 2012
New Delhi: Whatever its intentions in cracking down on abuse of tax havens, India has alienated overseas investors with the timing and communication of its measures when it can ill afford to do so. India's move to target tax evaders through a general anti-avoidance rule (GAAR), along with a plan to retroactively tax the indirect transfer of assets, has spooked investors and added to an exodus of funds, battering the...
08:45 PM, May 06, 2012
New Delhi: Days ahead of the Finance Bill coming up in Parliament for passage, Vodafone group CEO Vittorio Colao on Wednesday met Finance Minister Pranab Mukherjee seeking reconsideration of the move to retrospectively amend laws that will have a tax implication of Rs 11,000 crore on the firm. Speaking to reporters after meeting, Mukherjee said, "Vodafone made a presentation of their case." Emerging out of the meeting, Colao said, "We...
11:17 AM, May 02, 2012
New Delhi: The post-recess budget session of Parliament resumed on Tuesday. The government is planning to bring in three key finance sector reforms " the Pension Regulatory Bill, the Insurance Bill and the Banking Reforms Bill " in the current session. The priority, however, will be to see that the Finance Bill is cleared by the House. It may not be smooth sailing for the government, however, as the Opposition...
11:14 AM, Apr 24, 2012
New Delhi: Finance Minister Pranab Mukherjee on Tuesday said the government will examine the notice of Vodafone that threatened to drag India to international arbitration if the telecom giant was made liable to pay Rs 11,000 crore in taxes over a 2007 acquisition. "It is their (Vodafone's) prerogative and we will examine the notice... As a legal entity, they are entitled to legal recourse," he said. The minister was responding...
04:44 AM, Apr 18, 2012
New Delhi: India has exempted payment in rupees for oil imports from Iran from hefty local taxes, a move that would help refiners settle some of their oil trade with the sanctions-hit country if the current mechanism through Turkey folds under fresh sanctions. The finance bill, part of the annual budget presented on Friday, said the exemption in the "national interest" would be implemented from April 1. India and Iran...
03:26 AM, Mar 18, 2012
The proposal which was made during the Budget invoked opposition from the medical fraternity. ...
06:38 PM, Mar 22, 2011
New Delhi: The Government on Tuesday rolled back the five per cent tax healthcare, which many called the misery tax as it made treatment more expensive. Finance Minister Pranab Mukherjee made the announcement in his reply to the debate in the Lok Sabha on Tuesday. The proposal which was put forth during the Budget invoked Opposition from the medical fraternity. Reacting on the move, Cardiac Surgeon Dr Devi P Shetty...
12:53 PM, Mar 22, 2011
The finance bill is to face vote on April 27, the same day when 13 parties plan to move a cut motion against price rise. ...
03:33 PM, Apr 25, 2010
Finance Bill 2009 introduced certain amendments in transfer pricing provisions. ...
02:23 AM, Jul 07, 2009
The chambers however expressed their disappointment over continuation of Fringe Benefit Tax on ESOPs. ...
11:18 PM, May 03, 2007
Chidambaram promised to check inflation at below 4.5 pc with a mix of fiscal, monetary and supply side measures. ...
10:27 PM, May 03, 2007
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