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If you have recently decked up your bathroom with fancy fittings or picked up a swanky plasma-screen television set, then taxmen could be profiling you, part of a new directive to scoop “information on everything about a taxpayer”. Gaurav Choudhury reports.
With the Budget 2013 round the corner, markets are once again speculating (similar to last year) that the government is considering changes in the rate of Securities Transaction Tax (STT). Anil Talreja
Finance minister is likely to invoke stringent penal action against tax theft, concealment of incomes, black money. Debobrat Ghose
Battling slowdown and high inflation, finance minister P Chidambaram is likely to raise the income tax exemption limit from Rs. 2 lakh to about Rs. 2.5 lakh in Budget 2013-14. Mahua Venkatesh & Anupama Airy reports.
Finance minister P Chidambaram will try to strike a balance between fiscal management and populism in his budget, to be unveiled in Parliament later this month. Chetan Chauhan reports.
The government is set to provide a fillip to the affordable housing segment in the coming budget to address a growing middle class hunger for homes, reports.Mahua Venkatesh
Sparing rail passengers from fare hike, the Railway Budget today slapped an across-the board 5.8% increase in freight rates and raised reservation and related charges to net in additional Rs.
4,683 crore a year.
Around noon today, you could get some good news from finance minister P Chidambaram, who is expected to raise the income tax exemption limit from the current level of Rs.
2 lakh. Gaurav Choudhury
Finance minister P Chidambaram on Thursday proposed a tax cut of Rs.2,000 for people earning an annual income of between Rs.200,000 and Rs.500,000 and said anything beyond that was not possible given the current circumstances.
Soon, India would be one of the first countries to set up a bank not only targeted at women but also run by women. Indonesia, with a few financial institutions targeted at women, may only come as a distant second since the facilities do not qualify as a full-fledged bank. HT
The finance minister slapped a tax on the super-rich, a worldwide theme this year, though he did not call it as such. He proposed a 10% surcharge on persons with a taxable income exceeding Rs.
1 crore per year in the budget for 2013-14 and would run for only one year.