Beyond cosmetic changes, Modi-government has so far failed to make meaningful improvement in transparency when it comes to political funding.
Parliament on Friday approved the Finance Bill 2017 after the Lok Sabha rejected five amendments moved to it by the Upper House
Admitting that Aadhaar was a "great initiative" of the previous UPA government, Finance Minister Arun Jaitley today said it was being expanded by making it mandatory for direct benefit transfer of subsidy and checking of tax evasion.
Former Finance Minister P. Chidambaram asked Arun Jaitley as to how the government plans to protect the income tax details of people.
Finance bill cleared in Lok Sabha: Key changes in income tax rates individuals need to look at from 1 Apr
For employees where in the yearly income stands between Rs 2.5 and Rs 5 lakh, tax rate has been halved to 5 percent from the existing 10 percent, helping them save tax of up to Rs 12,500 a year
While the common man continues to be coerced to be transparent in all his dealings, politicians can continue with their overt corporate nexus. Isn't this a double standard?
GST Council, the apex decision making body for GST, has representation from the central government as well as all the state governments.
Explaining the rationale behind making Aadhaar mandatory for filing income tax returns, Jaitley said the move is aimed at curbing tax evasion.
After scrapping high-value currency notes in November, Prime Minister Narendra Modi is pushing a raft of measures to boost cashless transactions and curb tax evasion
The government today proposed to lower the cash transaction limit to Rs 2 lakh, from Rs 3 lakh announced in the Budget, as it introduced 40 amendments to the Finance Bill in an unprecedented move.
The amendments were all "incidental provisions" to the Finance Bill and relate to Budget announcements like combining some tribunals and creating uniform service conditions, said Finance Minister Arun Jaitley.
Earlier, while presenting the Budget on February 1, Finance Minister Arun Jaitley had proposed the cap to be Rs 3 lakh with effect from April 1.
Jaitley also released the revised General Financial Rules.
Traditionally, the budget is presented at the end of February and passed by May. However, the date has been advanced for the Union Budget 2017 to ensure its passage before the beginning of the fiscal year in April.
Refuting the Opposition's allegation, Jaitley said the date for presenting the budget was decided much earlier, before the announcement of Punjab polls and it would be wrong to say the date was fixed keeping Punjab elections in view.
Jaitley also sought to address the concerns on the impact of state’s fiscal autonomy, saying the idea is to share power with the states not take away power.
The session of Rajya Sabha came to an end on Friday after passing 12 bills and wasting 19 hours due to disruptions over various issues like imposition of President's Rule in Uttarakhand and AgustaWestland helicopter deal controversy.
The Rajya Sabha on Tuesday once again witnessed chaos and could not take up the Finance and Appropriation bills for discussion as planned.
BJP in Uttarakhand said the Speaker should "rise above political considerations to discharge his Constitutional duties in a non-partisan manner."
Finance Minister Arun Jaitley had came out with a host of proposals last month to rationalise service tax, which is levied at an effective rate of 12.36 percent.