Tax

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Is it right to tax MPs only on their basic salary, period, under income from other sources?

Jul 04, 2015 at 17:35 | Source: FirstPost

A communiqu from the Lok Sabha Secretariat dated 12 December 2001 says members of Parliament hereafter will be taxed on their income as parliamentarians under the head income from other sources. This must have been done after agonizing soul searching...

Black money law: Compliance window not open for those being probed now

Jul 04, 2015 at 14:19 | Source: FirstPost

New Delhi - The government on Friday said Indians against whom information has been received from foreign nations on overseas accounts or assets will not be eligible to use compliance window to make voluntary disclosures under the stringent new black...

Socio economic survey: Three-fourth of rural India's highest income below Rs 5,000

Jul 04, 2015 at 13:44 | Source: FirstPost

The government today release socio-economic and caste census, 2011, for rural India. According to the government press release, the data will be of use in evidence-based planning for rural development and poverty eradication.The survey done across 17...

Socio economic data not panacea but will help sharper targeting of welfare benefits

Jul 04, 2015 at 09:54 | Source: FirstPost

Interestingly, around the time that finance minister Arun Jaitley released the provisional data of the rural socio-economic caste census (SECC) 2011, less than 10 km away, a round table on direct benefit and basic income transfers was debating the kn...

Black money chase likely to flop: Jaitley, Modi have allowed politics to trump economics

Jul 04, 2015 at 09:24 | Source: FirstPost

(Thisarticle was first published on 2 July.)The Modi governments three-month compliance window for holders of illegal wealth abroad is more about the politics of black money than a realistic roadmap for its reduction and ultimate elimination. The sch...

Socio-economic survey data show UPA's food and land bills were misdirected

Jul 04, 2015 at 08:35 | Source: FirstPost

A quick look at the first-cut results of the governments socio-economic and caste census (SECC 2011) shows that that some of the populist UPA schemes like the Food Security Act and the Land Acquisition Act were too wide in their scope to be justified...

Socio econ survey: 44% rural families own land, 74% have income below Rs 5,000

Jul 04, 2015 at 08:18 | Source: FirstPost

The government today release socio-economic and caste census, 2011, for rural India. According to the government press release, the data will be of use in evidence-based planning for rural development and poverty eradication.The survey done across 17...

BP reaches $18.7 billion settlement over deadly 2010 spill| Reuters

Jul 04, 2015 at 03:15 | Source: FirstPost

HOUSTON BP Plc will pay up to $18.7 billion in penalties to the U.S. government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in U.S. history.The agreement add...

Ecuador, first stop on Pope tour, highlights environment exhortation | Reuters

Jul 04, 2015 at 01:16 | Source: FirstPost

QUITO It is one of the most biodiverse nations on earth, boasting Amazon rainforest, Andean mountains and the Galapagos Islands, where Charles Darwin formulated his theory of evolution.Yet with a heavy reliance on oil and mining, Ecuador, where Pope ...

MTNL denies delisting buzz after rumours lift stock 19.88%

Jul 03, 2015 at 18:56 | Source: FirstPost

New Delhi: State-run MTNL today said there are no plans to delist its shares from the stock exchanges."It is stated that as far as MTNL is concerned no such proposal has been under consideration of the board," MTNL said in a clarification t...

Only 4.6% rural households pay income tax: 10 points from today's census data

Jul 03, 2015 at 17:21 | Source: FirstPost

The government today release socio-economic and caste census, 2011, for rural India. According to the government press release, the data will be of use in evidence-based planning for rural development and poverty eradication.The survey done across 17...

Bajaj Auto expects best earnings in Apr-Jun; but will the drive be smooth ahead?

Jul 03, 2015 at 17:17 | Source: FirstPost

The dream run witnessed by the India's two-wheeler industry over the past few years seems to be facing a bumpy ride since the beginning of current year, as demand have turned sloppy in the backdrop of a slowdown in rural markets, which accounts for a...

Socio-economic survey data show UPA's land and food bills were misdirected

Jul 03, 2015 at 14:35 | Source: FirstPost

A quick look at the first-cut results of the governments socio-economic and caste census (SECC 2011) shows that that some of the populist UPA schemes like the Food Security Act and the Land Acquisition Act were too wide in their scope to be justified...

Afghanistan targets US defence contractors in row over back taxes| Reuters

Jul 03, 2015 at 04:30 | Source: FirstPost

KABUL Afghanistan is threatening to crack down on U.S. defence contractors it says owe hundreds of millions of dollars in back taxes, including by freezing their bank accounts and refusing to renew yearly business licences when they expire.The United...

IMF warns of huge financial hole as Greek vote looms| Reuters

Jul 02, 2015 at 23:45 | Source: FirstPost

ATHENS/WASHINGTON The International Monetary Fund delivered a stark warning on Thursday of the huge financial hole facing Greece as angry and uncertain voters prepare for a referendum that could decide their country's future in Europe.Days after Gree...

Black money chase will flop: Jaitley, Modi have allowed politics to trump economics

Jul 02, 2015 at 22:45 | Source: FirstPost

The Modi governments three-month compliance window for holders of illegal wealth abroad is more about the politics of black money than a realistic roadmap for its reduction and ultimate elimination. The scheme is more stick than carrot, and it is hig...

Subsidised LPG sales under DBT down by 25%, says Arvind Subramanian

Jul 02, 2015 at 20:50 | Source: FirstPost

New Delhi: Sales of subsidised LPG cylinders under the Direct Benefit Transfer scheme (DBT) have come down by about 25 percent as most "ghost beneficiaries" have been eliminated, CEA Arvind Subramanian today said."... essentially, what...

Black money chase will flop: Modi, Jaitley have allowed politics to trump economics

Jul 02, 2015 at 15:17 | Source: FirstPost

The Modi governments three-month compliance window for holders of illegal wealth abroad is more about the politics of black money than a realistic roadmap for its reduction and ultimate elimination. The scheme is more stick than carrot, and it is hig...

Jaitley shrugs off Congress threat to disrupt Parliament over Lalit Modi controversy

Jul 02, 2015 at 14:50 | Source: FirstPost

Finance Minister Arun Jaitley today brushed aside concerns of Parliament's upcoming monsoon session being disrupted over the Lalit Modi controversy, saying some people may be relevant to TV channels but not to governance.Jaitley said the Bills to ame...

Filing income tax returns? Make sure you don't make these silly mistakes

Jul 02, 2015 at 10:54 | Source: FirstPost

Filing your income tax returns was once a cumbersome task. With things gone online, the process has become much easier over the years. But, there's always a possibility of making silly errors. Here's a list of a few errors you might make inadvertentl...

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