TAXES

  • Finance Ministry proposes levy of tax on all government services 2 hours 2 minutes ago

    New Delhi: The Finance Ministry on Monday proposed the levy of service tax on all services provided by the government and an enabling provision has been proposed in the Finance Bill in this regard. Although the list of services which will incur the service tax has not been decided, telecom and...
  • Controversial meat exporter Moin Akhtar Qureshi granted bail by Delhi court 6 hours 16 minutes ago

    New Delhi: Controversial meat exporter Moin Akhtar Qureshi has been granted bail by a Delhi court in black money case filed by the Income Tax (I-T) department. The I-T department launched an investigation against Qureshi for alleged evasion of tax. Last week, the Enforcement Directorate conducted raids at seven different...
  • Finance Minister fulfils 3 out of 5 demands put forth by CNN-IBN in Budget 2015 Yesterday

    The Finance Minister has fulfilled 3 out of 5 demands put forth by CNN-IBN. Transport allowance has been doubled to 1600 rupees per month and both health insurance benefits and tax exemption limit under the new pension scheme have been increased. ...
  • Budget woos foreign investors with tax incentives Yesterday

    Mumbai: India, keen to rekindle economic growth, wooed foreign investors on Saturday with a budget that delayed controversial rules to target tax avoidance and maintained lower taxes on income from debt investments. The measures, part of the government's budget for the next fiscal year, come amid growing concerns about foreign investors...
  • Union Budget 2015: Corporate tax to be cut by 5 per cent in 4 years; no change for individuals Yesterday

    New Delhi: Finance Minister Arun Jaitley on Saturday announced a 5 per cent reduction in corporate tax over next four years, abolished wealth tax and replaced it with an additional 2 per cent surcharge on super-rich individuals, while increasing service tax that will result in higher cost of variety of...
  • Individuals get more tax benefits; but to pay more on services Yesterday

    New Delhi: Giving with one hand and taking with the other, Finance Minister Arun Jaitley on Saturday hiked tax deduction limit for individuals to Rs 4.44 lakh, but slapped an extra surcharge on super-rich and raised service tax rate. The individual taxpayers would get additional deductions of up to Rs 74,600...
  • Union Budget brings lottery sellers under service tax ambit Yesterday

    New Delhi: The lottery tickets may get expensive as Finance Minister Arun Jaitley in the Budget on Saturday proposed to remove service tax exemption given to the sellers and distributors of such items. The Union Budget for 2015-16, presented by Jaitley in the Parliament on Saturday,...
  • Union Budget 2015: Service tax increased 14 per cent from existing 12.36 per cent 2 days ago

    New Delhi: Eating out in restaurants, staying in hotels and other such activities will get costlier as the Union Budget 2015, presented by Finance Minister Arun Jaitley in Parliament on Saturday, proposes to increase the present rate of service tax and education taxes from the existing 12.36 per cent to...
  • Budget focuses only on corporates,income tax payers: P Chidambaram 2 days ago

    New Delhi: Accusing Finance Minister Arun Jaitley of pleasing just the corporates and the income-tax payers, his predecessor in the UPA regime P Chidambaram on Saturday said the Modi government's first full Budget has failed the fiscal test, the test of equity, and the test of rising inequality. ...
  • A good Budget with 3-4 forceful directions 2 days ago

    By Dr Shankar Acharya, Former Chief Economic Adviser to Government of India It is a good Budget. I rate Arun Jaitley's Budget as good. Lot of things he mentioned sounded good. He has also given a forceful direction to 3-4 things. Fiscal consolidation has also been taken into account. I like...
  • Union Budget 2015: What is cheaper and what is dearer 2 days ago

    New Delhi: Finance Minister Arun Jaitley on Saturday presented the first full-fledged Budget of the Narendra Modi government aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. The government is planning to introduce...
  • Highlights of Union Budget 2015 2 days ago

    New Delhi: Following are the highlights of the Union Budget 2015-16 presented by Finance Minister Arun Jaitley in Parliament on Saturday: * No change in personal Income Tax * Health Insurance Premium deduction hiked from Rs 15,000 to Rs 25,000; for senior citizens to Rs 30,000 ...
  • Rationalisation of taxes must to bring in more investment to India: Panagariya 2 days ago

    NITI Aayog Vice Chairman Arvind Panagariya said rationalisation of taxes is a must to bring in more investment to India. He said, "Tax rationalisation is a must to increase investment into India. The RBI should continue cutting rates." ...
  • Axe the tax: Demand for increase in transport allowance 2 days ago

    One of the most popular expectations from people for the Budget is increase in transport allowance. ...
  • How the last five Union Budgets impacted income tax 2 days ago

    With no major surprises in the Railway Budget presented by Suresh Prabhu on Thursday, all eyes will be on Finance Minister Arun Jaitley as he prepares to present the government's first full Union Budget on Saturday. Income tax slabs have always been the most awaited section of the Budget. With the...
  • Gujarat CM Anandiben Patel welcomes move to hike share in central taxes 4 days ago

    Ahmedabad: Gujarat Chief Minister Anandiben Patel on Wednesday welcomed Prime Minister Narendra Modi's decision to hike states' share in central taxes, by 10 per cent from 32 per cent to 42 per cent. "The decision with far-reaching consequences would make progressive states like Gujarat stronger in their march towards progress,"...
  • An appeal to Finance Minister Arun Jaitley to axe a few taxes in Union Budget 2015-16 4 days ago

    New Delhi: Ahead of Union Budget 2015, a team from CNN-IBN met Union Finance Minister Arun Jaitley and presented the recommendations for Budget 2015. These include increasing the income tax exemption limit from current 2.5 lakh, increasing annual medical reimbursement limit from current 15,000 rupees, hiking transport allowance from current...
  • CNN IBN presents a list of demands to FM Arun Jaitley for Budget 2015 5 days ago

    Like every year, CNN-IBN team met Finance Minister Arun Jaitley and presented the recommendations from Budget 2015. These include increasing the income tax exemption limit from current 2.5 lakh, increasing annual medical reimbursement limit from current 15,000 rupees, hiking transport allowance from current 9,600 rupees per annum, increasing deduction...
  • Finance Commission for higher share to states in central taxes, Modi says will strengthen federalism 6 days ago

    New Delhi: The Finance Commission has suggested raising share of states in central taxes to 42 per cent from current 32 per cent. As per the increased devolution suggested in the report of the 14th Finance Commission, the states will get Rs 3.48 lakh crore in 2014-15 and Rs 5.26...
  • Axe the tax: 5 key demands from Union Budget 2015 1 week ago

    Ahead of the Union Budget 2015, experts discuss people's expectations from the Modi government. ...
  • Jaitley may dole out tax sops in Budget to win over middle class February 22, 2015

    New Delhi: Eager to win over middle class after the Delhi poll debacle, Finance Minister Arun Jaitley on February 28 is expected to present a common man friendly Budget by either raising tax slabs or hiking investment limit in savings instruments. Besides giving sops to the individual tax payers, he is...
  • Budget:Government may announce incentives for medical devices sector February 22, 2015

    New Delhi: After relaxing FDI policy for medical devices sector, the government is expected to announce an incentive package, including tax benefits, in the forthcoming Budget for domestic manufacturers. In its Budget proposals, the Commerce and Industry Ministry has suggested to Finance Minister Arun Jaitley to increase import duty on medical...
  • Black money: Income Tax department to file 100 more complaints in court February 22, 2015

    New Delhi: The Income Tax department is set to launch over 100 fresh prosecution complaints for "wilful" evasion of taxes against those entities and individuals whose names have figured in the HSBC, Geneva black money bank accounts list. The department, according to sources, is also expected to collect an additional revenue...
  • Axe the tax: Demand for more sops for women in the Budget 2015 February 20, 2015

    One of the most popular expectations from people for the Budget is more sops for working women. An IT professional Bhavna also said that education fee should be slated as a separate entity. "I am a single parent and this will bring a lot of relief to many women like...
  • Startups look forward to service tax exemption in Budget 2015: Knowlarity February 19, 2015

    New Delhi: With last year's budget release of nearly Rs 11,000 crores, the expectations of the start-up industry have definitely increased. Programs like Make in India and Digital India are great initiatives for the technology revolution, but what the IT sector and start-ups in particular are really looking forward to...
  • Axe the tax: Hike cap on medical expenses from Rs 15,000 to 50,000 per year February 19, 2015

    In CNN IBN's special series 'Axe the Tax', one of the most popular expectations of the people from Budget 2015 is to hike the cap on medical expenses from Rs 15,000 to Rs 50,000 per year. ...
  • Axe the Tax: Raise Income Tax exemption limit to Rs 3 lakh February 18, 2015

    In CNN IBN's Axe the Tax series, the most popular expectation from Budget 2015 is to hike the income tax exemption limit to Rs 3 lakh from the existing Rs 2.5 lakh. ...
  • Axe the tax: Your wishes from Union Budget 2015 February 17, 2015

    The government has capped the amount of savings which qualifies for a tax exemption at Rs 1.5 lakhs. The limit includes all savings - life insurance, pension, interest on housing loans, tuition fees, PF, PPF etc. However, this a disincentive for those who want to save. ...
  • 'Want reduction in Service Tax in Union Budget 2015' February 16, 2015

    A first generation woman entrepreneur from Jaipur, Shipra wants a reduction in service tax leaving her with more money to invest in her 6 year old skill building company. She's also hoping for better support from the government for small and micro industries to protect their interests in an environment...
  • Budget 2015: Tax benefits, duty cuts top industry budget wish-lists February 15, 2015

    New Delhi: As the Budget day approaches, various sectors are lobbying hard for tax benefits and duty cuts while a few others want the government to ensure a stable and predictable taxation regime. The groups and consultants lobbying for MNCs want the government, in the Union Budget on February 28,...