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FM guns for 3% Fiscal Deficit, Divestment & 2G auction

Finance Minister – P. Chidambaram’s take on Fiscal consolidation, Divestment, 2G auction, Inflation management, Current account deficit (CAD), key legislation such as Direct tax Code (DTC). He unveiled a five-year roadmap for fiscal consolidation. The...

Shome Panel for delay of GAAR by 3 yrs

The PM appointed panel, headed by Parthasarathi Shome, recommended for extending the deadline for implementation of the rules by three years. As per earlier recommendations, the guidelines were to come into effect from April 2013....

Budget 2012 : Get to know your Tax rate

As per Budget 2012 proposal Basic limit upon which No income tax will be levied has been raised to 2 lakh from 1.8 lakh. Income Rate of Tax Up to 2 lakh NIL From 2...

Tax exemption limit may raise to Rs 2 lakh

News Brief: In the next Union Budget government is likely to raise Tax exemption limit for individual income tax payers to Rs 2 lakh, as provided in the Direct Taxes Code (DTC), and hiking the...