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Budget 2017 News

11 Apr 2017

Budget Session a winner for treasury benches: PM Narendra Modi

Prime Minister Narendra Modi on Tuesday described the Budget Session as a "winner" for the treasury benches, saying the BJP put up an impressive show in state polls while the government was able to secure passage of many key bills in Parliament.

Finance Bill 2017

29 Mar 2017

Govt faces embarrassment in Rajya Sabha; 5 Opposition amendments to Finance Bill adopted

The government on Wednesday faced a major embarrassment in the Rajya Sabha as five amendments moved by the opposition to the Finance Bill 2017 were adopted before the House approved the measure.

tax on cash payments

23 Mar 2017

Government removes 1% tax on cash payments of over Rs 2 lakh

The government has done away with the 1 percent tax on cash payments of over Rs 2 lakh for purchase of any goods or service after it banned cash dealings above that limit from April 1.

cash transaction limit

21 Mar 2017

Govt proposes cap of Rs 2 lakh on cash transactions as against Rs 3 lakh proposed in Budget

Continuing with government steps to clamp down on black money, Finance Minister Arun Jaitley on Tuesday proposed a cap of Rs 2 lakh on cash transactions, down from Rs 3 lakh as proposed in the Budget.

‪‪Siddaramaiah‬

15 Mar 2017

Karnataka budget 2017-18: Rs 100 crore for Namma Canteens, no VAT on wine and beer – Highlights

The Karnataka Budget 2017-18 is said to be Siddaramaiah's best chance to muster support ahead of the 2018 Assembly Elections.

07 Mar 2017

Finance Bill to be passed before March 31: Arun Jaitley

The Finance Bill will be passed by Parliament before March 31 to enable ministries to avail funds from April 1, Finance Minister Arun Jaitley said on Tuesday.

22 Feb 2017

India comfortable with crude oil prices up to $65/barrel: CEA

Rising global oil prices will not pose a serious risk to the economy if they remain within the range of USD 55-65 a barrel, said chief economic adviser Arvind Subramanian.

20 Feb 2017

FinMin kickstarts listing process of 3 rail PSUs

Within three weeks of Budget announcement, the Finance Ministry today started the process of listing three rail PSUs — IRCTC, IRFC and IRCON.

11 Feb 2017

Sebi evolving in tune with market needs: Arun Jaitley

Emphasising that Indian securities market has seen significant developments, Finance Minister Arun Jaitley on Saturday said the regulator is evolving in accordance with the needs of the economy and markets.

Foreign Portfolio Investors

08 Feb 2017

Around 2,100 new foreign portfolio investors register in Apr-Nov FY17

Nearly 2,100 new foreign portfolio investors (FPIs) have registered with capital markets watchdog Sebi in April-November period of the current fiscal.

Tax slab in 2017

07 Feb 2017

Income Tax Slabs: Check out tax rates applicable from April 2017

Finance Minister Arun Jaitley slashed the income tax rate to 5 percent for individuals having income between Rs 2.5-Rs 5 lakh from the earlier tax rate of 10 percent.

06 Feb 2017

Focus of Budget is on tax compliance: CBDT

The Union Budget 2017-18 focuses on increasing tax compliance while at the same time safeguarding the honest tax payers from any harassment, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said on Monday

Central Board of Direct Taxes

06 Feb 2017

Government to issue exemption list on new tax for unlisted firms

Government will come out with an "exhaustive list" of transactions on which the "anti-abuse" provision of levying long-term capital gains tax on share transfer in unlisted companies will not be applicable.

06 Feb 2017

'SMEs to pay 25% tax even if Rs 50-crore limit crossed in FY17'

The I-T department today said companies that had a turnover of less than Rs 50 crore in 2015-16 will pay tax at the reduced rate of 25 percent from April 1 even if they cross the threshold in 2016-17 or subsequent years.

04 Feb 2017

Bill to address bankruptcy in financial sector to be introduced this session: Shaktikanta Das

Government is likely to introduce a Bill for resolution of insolvent financial firms during the current session of Parliament in order to address the bankruptcy issue in the financial sector.

04 Feb 2017

Govt rules out tax incentive beyond Rs 2 lakh for second home

Ruling out rollback of the proposal to restrict tax incentive for second home to Rs 2 lakh per annum, Revenue Secretary Hasmukh Adhia on Saturday said there is no point in subsidising purchase of second property by those who have surplus funds.

04 Feb 2017

Pay penalty up to Rs 10,000 for filing return late this year

Income tax department may slap penalty up to Rs 10,000 if you fail to file your income tax returns by the given deadline. The rule applies on the Assessment year 2018-19.

04 Feb 2017

Personal I-T base must be up before corporate tax cut: Hasmukh Adhia

Two years after it announced plans to reduce corporate tax rate to 25 percent, the government on Saturday said any such reduction can come after the spread of personal income tax is increased and more people pay taxes.

03 Feb 2017

Arun Jaitley defends surcharge levy, says rich must pay more

Finance Minister Arun Jaitley Friday justified levy of 10 percent surcharge on rich saying the resources in a largely non-tax compliant society will have to come from the more affluent.

03 Feb 2017

Budget 2017: Know the tax relaxation under NPS

Finance Bill, 2017 has proposed to amend the Act to provide exemption from tax at the time of partial withdrawal by an employee from National Pension System Trust in accordance with conditions specified under Pension Fund Regulatory and Development Authority Act, 2013 and regulations made there under, to the extent it does not exceed twenty five percent of the contributions made by him.

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