Finmin to initiate Budget exercise next week Work on India’s first post-GST Union Budget 2018-19 will start next week with the finance ministry issuing timelines for different processes that will culminate with its presentation in February. Finance Minister Arun Jaitley arrived at the parliament on Wednesday for Budget. It may also be the current government's last … [Read more...] about Finmin to initiate Budget exercise next week
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Budget
Parliamentary Panel for shifting fiscal year to January-December
Parliamentary Panel for shifting fiscal year to January-December New Delhi: India should shift to the January - December financial year by ending the decades old tradition of April - March fiscal introduced by the British, a Parliamentary Panel said today. The present system was adopted by the Government of India in 1867 principally to align the Indian financial year with … [Read more...] about Parliamentary Panel for shifting fiscal year to January-December
Central government to hire 2.8 lakh staff in a year, police, I-T and customs to get lions share
Central government to hire 2.8 lakh staff in a year, police, I-T and customs to get lions share New Delhi: The size of the central government, particularly police and tax officials, is likely to grow with the Centre’s Budget providing for the recruitment of around 2.80 lakh more staff. Of this number, more than 1.80 lakh would be recruits to departments of police, income … [Read more...] about Central government to hire 2.8 lakh staff in a year, police, I-T and customs to get lions share
GST: Service tax likely to be hiked to 18 percent this budget
GST: Service tax likely to be hiked to 18 percent this budget New Delhi: Most services are likely to attract a tax of 18 percent under the Goods and Services Tax (GST) as Union Finance Minister Arun Jaitley presents the Union Budget on February 1. It will be interesting to witness whether the Centre raises the service tax rate from the existing 15 percent by at least one … [Read more...] about GST: Service tax likely to be hiked to 18 percent this budget
7th Pay Commission: Higher allowances to be paid after Budget
7th Pay Commission: Higher allowances to be paid after Budget New Delhi: The higher allowances under 7th pay commission is set to be paid to central government employees and pensioners after the budget 2017-18. A top official in the Finance Ministry told The Sen Times on the condition on anonymity, "Government is very pleased to pay the higher allowances to its employees … [Read more...] about 7th Pay Commission: Higher allowances to be paid after Budget
Cabinet may consider Budget on Feb 1 this week
Cabinet may consider Budget on Feb 1 this week New Delhi: The Cabinet is likely to consider this week fixing February 1 as date of presentation of the budget after the Election Commission gave its nod in light of upcoming Assembly elections in five states. Having decided to advance the budget presentation by a month, the government took the line that it should not be … [Read more...] about Cabinet may consider Budget on Feb 1 this week
Finmin constitutes Fiscal Responsibility and Budget Management panel, N K Singh to be chairman
Finmin constitutes Fiscal Responsibility and Budget Management panel, N K Singh to be chairman The Union Finance Ministry on Tuesday constituted a five member Fiscal Responsibility and Budget Management (FRBM) panel. The panel would be headed by former Revenue and Expenditure Secretary and Member of Parliament N K Singh. Former Finance Secretary Sumit bose, … [Read more...] about Finmin constitutes Fiscal Responsibility and Budget Management panel, N K Singh to be chairman
TDS on Recurring Deposits from June 1
TDS on recurring deposits from June 1 force investors to close down deposits prematurely NEW DELHI: Days after the Budget announced that tax deducted at source (TDS) will also apply to recurring deposits, banks are witnessing a rush of investors closing down their deposits prematurely. Though it is fully taxable, the interest from recurring deposits is exempt from TDS. … [Read more...] about TDS on Recurring Deposits from June 1
Special Feature of 2014’s Central Budget: Own house for all by 2022
Special Feature of 2014’s Central Budget: Own house for all by 2022 The new Government at the Centre has sworn to ensure that by 2022, each and everyone has a house of their own. The government plans to make this possible by increasing the tax exemptions given to house loans. The Government also plans to encourage youngsters to own houses. Low-cost housing projects will … [Read more...] about Special Feature of 2014’s Central Budget: Own house for all by 2022
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