FINANCE BILL

  • Govt to work for passage of pending bills: Chidambaram April 30, 2013

    New Delhi: With the Lok Sabha passing the Finance Bill and Demands for Grants for various ministries, Government on Tuesday said it will continue with its efforts for passage of other bills on food security and land acquisition, which are "equally important". "I don't think it is correct to say...
  • Finance Bill passed by Lok Sabha with 12 minor amendments April 30, 2013

    New Delhi: Lok Sabha on Tuesday passed the Finance Bill taking in consideration all the amendments proposed even as the Bharatiya Janata Party (BJP) walked out of the House protesting against coal scam. The Bill was passed with 12 minor amendments. The passage of the bill effectively brought to an end...
  • Will the SC coming down on CBI, govt jeopardise the Finance Bill? April 30, 2013

    New Delhi: With the Supreme Court coming down heavily on the Central Bureau of Investigation (CBI) and the Congressled United Progressive Alliance Government in the coal scam case, the passage of the Finance Bill looks in jeopardy as the Opposition has taken on Prime Minister Manmohan Singh directly and demanded...
  • PM may call an allparty meet to end Parliament deadlock April 30, 2013

    New Delhi: Prime Minister Manmohan Singh is likely to step in to end the political deadlock over coal scam. Sources said the PM is likely to call an allparty meet to break the logjam in Parliament and try and pass the Land Bill and the Food Security Bill. A temporary truce...
  • Finance Bill likely to be passed in Lok Sabha today April 30, 2013

    New Delhi: Despite the political deadlock over the coal scam, the key Finance Bill is likely to be passed in Lok Sabha on Tuesday. A temporary truce has been achieved between the government and the opposition to pass the money bills. The crucial Finance Bill can't be delayed beyond Tuesday as...
  • Yashwant Sinha seeks amendments to Finance Bill April 29, 2013

    New Delhi: Amidst reports that the government had finally managed to get the Opposition on board on the key Finance Bill, senior BJP leader Yashwant Sinha on Monday wrote to P Chidambaram demanding certain amendments to the Bill. Sinha reportedly sought the amendment to ensure that farmers whose land was...
  • Govt gets Oppn on board on Finance Bill April 29, 2013

    New Delhi: There seems to be a breakthrough in the efforts to end Parliament deadlock as the government has managed to get the Opposition on board to pass the Finance Bill. Sources say that the Finance Bill is likely to be taken up on Tuesday along with demands for grants....
  • Economic reform agenda runs into political hurdle April 29, 2013

    New Delhi: A Parliament deadlocked yet again over corruption scandals threatens Finance Minister P Chidambaram's ambitious reform agenda, dealing a harsh dose of political reality on the heels of his North American roadshow to sell the India story. Two longstalled reforms one to lift the foreign ownership cap in...
  • NCP warns UPA over Finance Bill; will Oppn let Parl function? April 27, 2013

    New Delhi: Pressure seems to be growing on the UPA government from within its own constituents. With the first week of the reconvened session of Parliament almost being a washout, the National Congress Party (NCP) has thrown a sharp hint. It says that any failure to pass the Finance Bill...
  • More announcements to promote growth: Chidambaram March 3, 2013

    New Delhi: A number of non-legislative decisions covering customs, excise, service tax, insurance and banking to promote growth will be announced in Parliament before the passage of the Finance Bill. Disclosing this here today, Finance Minister P Chidambaram said that the budget presented by him on February 28 focussed on...
  • FM seeks to reassure after tax proposal sparks alarm March 2, 2013

    Mumbai: Finance Minister P Chidambaram sought to ease concerns it was targeting double taxation treaties on Friday, saying a proposal that sparked alarm among foreign investors was clumsily worded. Chidambaram's reassurances mark the second day in a row the minister has had to address the confusion sparked by the amendment unveiled...
  • Oil price, subsidies are major challenges: Pranab May 8, 2012

    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...
  • Finance Bill to be discussed in Parliament today May 7, 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 AntiAvoidance Rule, which is expected to pull the market out of its threemonth dip. Parliament is likely to vote on the bill over the next two...
  • India to deliberate tax measures as investors fret May 6, 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 antiavoidance rule (GAAR), along with a plan to...
  • Reconsider amending tax laws: Vodafone to Pranab May 2, 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...
  • Parl session resumes, CD row may rock session April 24, 2012

    New Delhi: The postrecess 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...
  • We will examine Vodafone notice: Pranab April 18, 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...
  • India not to tax rupee payments for Iranian oil March 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 sanctionshit country if the current mechanism through Turkey folds under fresh sanctions. The finance bill, part of the annual budget...
  • Government rolls back 5 pc healthcare tax March 22, 2011

    The proposal which was made during the Budget invoked opposition from the medical fraternity. ...
  • Govt rolls back five per cent healthcare tax March 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...
  • Govt worried over passage of finance bill April 25, 2010

    New Delhi: Trouble seems to be coming in several ways for the UPA Government. The phone tapping expose of senior political leaders will add to the heat and dust of the IPL mess. The big worry is what happens to the finance bill. The finance bill is to face vote...
  • Transfer pricing: Tax proposals in the right direction July 7, 2009

    Finance Bill, 2009 has introduced certain amendments in the transfer pricing provisions. The primary amendments are the introduction of the concept of Safe Harbour Rules and Alternate Dispute Resolution(ADR) mechanism. The Finance Bill 2009 proposes to introduce Safe Harbour rules by empowering Central Board of Direct Taxes, an apex tax...
  • Chambers welcome duty cut on cement May 3, 2007

    New Delhi: The domestic industry on Thursday welcomed the Government move to reduce excise duty on cement but expressed disappointment over continuation of Fringe Benefit Tax on Employees Stock Options Plan (ESOPs). "Moderation in excise duty on cement will amount to containment of prices and provide respite not only to the...
  • FM takes Uturn, cuts more taxes May 3, 2007

    New Delhi: Moving away from his earlier stand, Finance Minister P Chidambaram has announced excise and customs duty concessions on various items, even as the Lok Sabha on Thursday passed the Finance Bill. Bowing to demands from various sections, Chidambaram has announced duty cuts on items like cement, biscuits, soya, bidis...