Railway Minister Suresh Prabhu has written a letter to Union Finance Minister Arun Jaitley seeking an end to the age-old practice of presenting a separate budget for railways by merging it with the General Budget.
Indian jewellers have been on an indefinite strike since the beginning of March 2016 protesting against the Budget proposal to levy 1 per cent excise duty on non-silver jewellery.
Gold traders, jewellers and artisans continued their indefinite strike for yet another day on Monday, in protest against a proposed one per cent excise duty on non-silver jewellery.
The government is looking at a scheme for encouraging its employees to invest part of their 7th Pay Commission salary hike in a fund which would be used for recapitalisation of state-owned banks.
Jewellers, bullion traders and artisans are showing no signs of backing down in their protest against imposition of one per cent excise duty on non-silver jewellery as their strike entered the 39th day, with many keeping their shops closed on Saturday.
India is likely to clock GDP growth of 7.4 per cent in the current fiscal year and consumption is likely to be the main driver of growth in the foreseeable future, says an HSBC report.
Expecting an early passage of the GST (Goods and Services Tax) Bill by Parliament, Economic Affairs Secretary Shaktikanta Das on Monday said the administrative machinery is ready to implement the new indirect tax regime, which will be a key component in improving ease of doing business in the country.
Private sector investments will show improvement and lead the economy in the coming years, reducing the role of government in pushing growth, Finance Minister Arun Jaitley said on Monday.
The Income tax Department issued tax refunds of over Rs 1.17 lakh crore in the last financial year that ended on March 31, of which Rs 37,870 crore was done in an automated manner.
In yet another step aimed at reducing human interface between the taxman and the taxpayer, the Income Tax Department on Sunday operationalized a facility for e-filing of the first appeal before a tax officer.
Wooing investors with promise of an easier business environment and stable tax regime, Prime Minister Narendra Modi on Sunday said retrospective taxation has been made a thing of the past but he is "not able to do anything" on two cases inherited from the previous government as they are sub judice.
Bankers said high interest rate could make the economy sluggish given that inflation is around 5%.
With the onset of the festive season, the gems and jewellery industry fears losing out on sizeable sales, with some industry leaders saying continuation of the strike will be a "disaster" for the business.
Financial planners say an individual health insurance cover should be on your priority list. When you lose a job, quit a job to start a new venture or are in between jobs, you could be without the benefit of company health or group insurance cover.
E-filing of income tax returns for assessment year 2016-17 was launched for a select category of entities and individuals on Sunday even as the Income Tax Department provided an online calculator for filers to do an easy check and obtain their annual tax liability.
The RBI is scheduled to announce this fiscal year's first bi-monthly monetary policy on April 5.
People earning more than Rs 50 lakh will find it challenging to declare cost of inherited properties and gift items in the new income tax return (ITR) form for assessment year 2016-17, say tax experts.
Finance Minister Arun Jaitley in the Budget announced measures to reduce the burden of TDS (tax deducted at source) for small tax payers.