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Category : Budget
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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...
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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 financia...
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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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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 Mini...
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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 ...
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