The widening gap in the unrealised tax revenue numbers should be a wake-up call for the government to urgently bring about mechanisms to engage with the taxpayer, resolve the disputes and encourage them pay their dues to the state
Startup community has unanimously welcomed lower corporate tax for enterprises with a turnover of upto Rs 50 crore
As for the middle class, the bulwark of India’s economic growth, there is little to cheer in the tax proposals which Jaitley outlined his Budget proposals for 2017-18
Government on Wednesday proposed to phase out tax benefits up to Rs 25,000 on stock market investment under Rajiv Gandhi Equity Savings Scheme (RGESS), which was introduced with much fanfare by the previous UPA regime.
Finance Minister Arun Jaitley on Wednesday placed before Parliament some revealing data indicating that India's direct tax collection is not commensurate with the income and consumption pattern of the economy.
A balancing act is clearly the need of the hour to ensure multinational enterprises do not face trade barriers where no one wins if businesses lose
Tax experts and economists said Jaitley may hike the service tax (currently at 15 per cent) to align with the GST regime.
While service tax until now is a central levy, it will be equally split between the Centre and states under the new GST regime.
The government no more enjoys the luxury of being able to initiate harsh reform measures as it is hardly a couple of years away from the 2019 polls.
Tax payer hopes from Budget 2017 soar; with ball in Arun Jaitley's court, will he score a goal or self-goal?
The government should consider providing benefits to tax payers directly in many ways ; this will be an incentive for people to show their real income and will help widen tax base
Among expected measures are a hike in a transaction tax on stock derivatives trading and a less beneficial approach to long-term capital gains tax exemptions, according to analysts.
Jaitley may in his February 1 Budget propose some changes in indirect tax rates on some products and services till such time that the GST takes over
India's overall taxpayer base in a nation of 125 crore (1.25 billion) people is only 48 million, or 4.8 crore -- or 3.8 percent of the population.
The slaried is paying higher fees and cross-subsidising Right To Education; the government should allow full waiver of tuition fees without any cap
Finance Minister Arun Jaitley will do well to recognise some of the possible negative effects of demonetisation and take steps to minimise their impacts
The Budget should be aimed at alignment and integration for smoothening the passage of the big-ticket reform that GST is; this will make the transition hurdle free
An unnamed taxpayer owed the government Rs 21,870 crore for the assessment year 2014-15, which was 11% of income tax to be paid by all Indians, according to 2016 data, the latest available, from the Income Tax department.
If the government raises the basic exemption limit and also eases the slabs at which tax is collected, it will need to announce measures to widen the tax base significantly
Currently, any cash transaction of Rs 50,000 and above require a person to quote his PAN card number