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  • Budget 2013: Tax amendments you can expect in rent allowance, LTA & gift tax
    Posted Date : 18-Feb-2013 , 07:30:09 pm | Posted By CASANSAAR

    The government has been trying to make the tax laws simpler every year; however, there are numerous amendments required in the tax laws. The union budget for the FY 2013-14 will be presented before the Parliament on 28th February 2013 and the finance minister has promised many reforms expected to co...

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  • Budget 2013: USIBC for a fair transparent tax environment
    Posted Date : 09-Feb-2013 , 04:44:03 pm | Posted By CASANSAAR

    The US India Business Council has submitted to Union Finance Minister P Chidambaram a wish list of reforms in the taxation sector, which the industry body argues would create a fair and transparent tax environment. In its pre-budget memorandum submitter to the Union Finance ...

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  • Budget Session from Feb 21, Railway Budget on 26th & Union Budget on February 28
    Posted Date : 01-Feb-2013 , 05:07:49 pm | Posted By CASANSAAR

    The dates for the presentation of the Union Budget and the Railway Budget were announced on Friday. While the Union Budget will be presented on February 28, the Railway Budget will be present two days earlier on February 26.   The Budget session will last from February 21 ...

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  • Budget 2013 : Excise dept mulls appointing cost accountants for cost data
    Posted Date : 31-Jan-2013 , 09:08:38 am | Posted By CASANSAAR

    The excise department is mulling to appoint cost accountants for calculation of cost data for the auto sector. The development has left the auto industry worried, r    The auto industry has very little option at present. The auto sector is hoping that there is going to be a clarification...

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  • Next month's Budget will be responsible: Chidambaram
    Posted Date : 29-Jan-2013 , 09:03:40 pm | Posted By CASANSAAR

    Finance minister P Chidambaram on Tuesday held out an assurance that the Budget next month will be a "responsible" one as general elections are 15 months away.   Addressing global investors in London, on the fourth leg of his overseas roadshows that began last week, he told them that the gove...

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  • Budget 2013: Govt may introduce new tax slab for incomes above Rs 5cr
    Posted Date : 26-Jan-2013 , 10:28:22 am | Posted By CASANSAAR

    P.Chidambaram, Finance Minister said, "There is an argument that when the eco, the government requires more resources the very rich should willingly pay a little more". Among the options being considered are, one a surcharge on income tax above a significantly high threshold, two rejigging...

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  • Govt should consider higher taxes for 'very rich': Chidambaram
    Posted Date : 24-Jan-2013 , 01:26:29 pm | Posted By CASANSAAR

    Finance minister P Chidambaram, who has talked about a stable tax regime during his meetings with foreign investors in the last two days, has said that the argument for taxing the very rich "a little more" should be considered.   "I believe in stable tax rates. However,  i must...

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  • Budget 2013: Govt mulls higher tax exemption on savings schemes & tax savers to wean away investors from gold
    Posted Date : 24-Jan-2013 , 07:56:59 am | Posted By CASANSAAR

    The finance ministry may tweak tax exemption rules in the upcoming budget to makeinvestments in financial products more attractive than gold, two government officials familiar with the development said. The ministry is planning to raise the 80C exemption limit, under which 1 lakh is ...

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  • Cut lock-in period for tax saving deposits to 3yrs: Bankers
    Posted Date : 07-Jan-2013 , 10:58:26 pm | Posted By CASANSAAR

    Bankers demanded that lock-in period for tax saving deposits be brought down to three years from five years to channelise more funds into the banking sector. In a pre-budget consultation with Finance Minister P Chidambaram, bankers also sought permission to issue tax-free bonds like other financial ...

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  • UP Budget proposes unemployment allowance, laptops; no new tax
    Posted Date : 01-Jun-2012 , 04:06:26 pm | Posted By CASANSAAR

    Seeking to fulfil his party's election promises, Uttar Pradesh Chief Minister Akhilesh Yadav today made provisions for unemployment allowance, waving of farm loans and giving laptops to students in his maiden state Budget for 2012-2013.   Amidst walkout by BSP, Yadav presented the Budget sayi...

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  • Jewellers go on strike against duty hike on gold
    Posted Date : 17-Mar-2012 , 10:04:49 am | Posted By CASANSAAR

    Jewellers across the country will stay closed for three days from Saturday, to protest against the hike in excise duty on gold announced by union finance minister Pranab Mukherjee. The more than 5000 jewellers in Gujarat, including around 1,000 in Ahmedabad, will stay closed along with nearly 5 lakh...

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  • Budget at a Glance (Complete Budget)
    Posted Date : 16-Mar-2012 , 06:28:28 pm | Posted By CASANSAAR

      Budget at a Glance     [EXCEL]  Receipts     [EXCEL]  Expenditure     [EXCEL]  Central Plan Outlay     [EXCEL]      Central Plan Outlay by Sectors...

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  • Union Budget 2012-13 Summary
    Posted Date : 16-Mar-2012 , 02:57:57 pm | Posted By CASANSAAR

        GENERAL BUDGET 2012-13       BUDGET IDENTIFIES FIVE OBJECTIVES RELATING TO  GROWTH, INVESTMENT, SUPPLY BOTTLENECKS, GOVERNANCE, AND REMOVING MALNUTRITION AMENDMENT TO FRBM ACT INTRODUCED AS PART OF FINANCE BILL CENTRAL...

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  • Budget Highlights - Live updates on Union Budget 2012
    Posted Date : 16-Mar-2012 , 09:34:47 am | Posted By CASANSAAR

    Government services and public transport exempted from services tax Compulsory reporting of assets sold abroad Eating out in restaurants to cost more Excise duty on big cars raised to 24% Luxury items to cost more Air travel to get expensive Big cars to get dearer Cuts securities transaction ...

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  • Budget 2012: EPF rate cut from 9.5% to 8.25% for 2011-12
    Posted Date : 16-Mar-2012 , 09:14:18 am | Posted By CASANSAAR

    Government has slashed interest rate on deposits in Employees Provident Fund from 9.5% to 8.25% for 2011-12 affecting over 4.7 crore subscribers. This cut was proposed by the Finance Ministry and a notification was issued by the Labour Ministry, official sources said. The Employees' Provident Fund...

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  • Railway Budget 2012: Dinesh Trivedi resigns; TMC recommends Mukul Roy as new railway minister
    Posted Date : 15-Mar-2012 , 08:23:58 am | Posted By CASANSAAR

    Railway Minister Dinesh Trivedi sent his resignation letter to Prime Minister Manmohan Singh in the wee hours of Thursday, according to sources. Trivedi offered resignation after his own party, the Trinamool Congress, termed across-the-board passenger fare hikes as a "hostile act". Late Wednesda...

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  • Railway budget 2012-13
    Posted Date : 14-Mar-2012 , 04:05:23 pm | Posted By CASANSAAR

    The Railway Budget has been presented in the Parliament today. No increase in freight rates, moderate hike in passenger fare, introduction of 75 new express trains, construction of new lines in the underdeveloped parts of the country, modernisation of railways, a new body to ensure passenger sa...

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  • Railway Budget 2012-13 (Highlights)
    Posted Date : 14-Mar-2012 , 01:30:55 pm | Posted By CASANSAAR

    Introduction of satellite based real time train information system (SIMRAN) to provide train running information to passengers through SMS, internet, etc. Passenger fares increased marginally. The increase will be by 2 paise per km for suburban and ordinary second class; 3 paise per km for mail...

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  • Rail Budget 2012 to be presented today, travel may get costly
    Posted Date : 14-Mar-2012 , 08:14:05 am | Posted By CASANSAAR

     It's the D-day and all eyes will be on Union Minister Dinesh Trivedi who will present the Railway Budget 2012 in Parliament. Sources say that the government is likely to impose a safety cess, although it will not be labelled a fare hike. Sources add that there is a possibility of an additional...

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  • Budget 2012: Direct Tax Code: Par panel report on DTC tabled in LS
    Posted Date : 14-Mar-2012 , 07:57:39 am | Posted By CASANSAAR

    The Parliamentary panel on Direct Taxes Code in its report tabled in Lok Sabha today has suggested raising the income tax exemption limit to Rs 3 lakh. The report of Standing Committee on Finance, which scrutinised the Direct Taxes Code (DTC) Bill, will pave the way for discussions and adoption of D...

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  • Budget 2012: Parliamentary panel recommends hiking income tax exemption limit to Rs 3 lakh
    Posted Date : 03-Mar-2012 , 08:42:12 am | Posted By CASANSAAR

      The Parliamentary standing committee on finance has recommended an increase in basic tax exemption limit to Rs 3 lakh and another Rs 3.20 lakh rebate for eligible investments and spending in its report on the direct taxes code, or DTC. The panel is not for any relief for corporate tax pa...

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  • Budget 2012: Finance Ministry asks financial advisors to stay in Delhi till Budget
    Posted Date : 28-Feb-2012 , 07:58:47 am | Posted By CASANSAAR

    As countdown begins for the Budget 2012-13, the Finance Ministry asked all the financial advisors to stay in Delhi till its presentation by Finance Minister Pranab Mukherjee on March 16. "In view of the fact that the Union Budget for 2012-13 is to be presented on March 16, 2012, the financial ad...

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  • Budget 2012: Foreign bank deposits, paintings, watches may attract wealth tax under DTC
    Posted Date : 21-Feb-2012 , 04:12:31 pm | Posted By CASANSAAR

    Deposits in foreign banks, paintings, sculptures and expensive watches may come under the wealth tax net as part of the government's drive to unearth black money. The proposal to expand the ambit of the Wealth Tax forms part of the Direct Taxes Code (DTC) Bill which is being scrutinised by a Par...

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  • ‘Extend tax relief for investment in infrastructure bonds'
    Posted Date : 15-Feb-2012 , 08:30:20 am | Posted By CASANSAAR

    The Central Direct Tax Advisory Committee has suggested that the Finance Minister re-introduce the standard deduction for a sum of Rs 50,000. It also called for extension of investment for tax benefit in infrastructure bonds. The committee meeting, held on Tuesday, was chaired by the Finance Minist...

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  • Budget 2012: Govt mulls hiking excise duty to 12%
    Posted Date : 14-Feb-2012 , 08:06:41 am | Posted By CASANSAAR

    The finance ministry is considering a proposal to increase excise duty from 10% to 12%, although still lower than the level before the 2008 financial crisis. The move, officials argue, is aimed at helping the government improve its fiscal situation but it is expected to push up the cost of almost al...

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  • Budget '11-12' Parliament Completes Approval Exercise
    Posted Date : 26-Mar-2011 , 10:23:31 pm | Posted By CASANSAAR

    Parliament completed the three-phase exercise of approving the General Budget 2011-12. The completion includes Parliamentary approval for appropriation of over Rs 46 lakh crore from the Consolidated Fund of India. The Rajya Sabha returned the Finance Bill 2011 and Appropri...

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