LIVE MARKET TRACKER :   BSE SENSEX   32584.35      |    NSE NIFTY 10210.85    
GLOBAL MARKETS :  NASDAQ 6629.757   +0.092%    |    FSI London 7542.87   +0.36%    |    NIKKEI Japan 21363.05   +0.13%
  USD GBP EUR CAD AUD INR
USD - 0.7581 0.8486 1.2475 1.2752 65.1090
GBP 1.3192 - 1.1192 1.6456 1.6819 85.7660
EUR 1.1788 0.8936 - 1.4706 1.5029 76.5908
CAD 0.8018 0.6082 0.6806 - 1.0226 52.0670
AUD 0.7843 0.5947 0.6655 0.9786 - 50.9800
INR 0.0154 0.0117 0.0131 0.0193 0.0197 -
Indian-Commodity  :  Top News  :  Tax rates to be reasonable and the tax base has to be much larger : Arun Jaitley

Tax rates to be reasonable and the tax base has to be much larger : Arun Jaitley (04-Jul-2016)

Close on the heels of Prime Minister Narendra Modi's call to double the tax base, Finance Minister Arun Jaitley has said that the government's aim is to keep the taxation rate moderate and efforts will be made to enhance the tax base. He said that “the tax rate would be reasonable while the tax base has to be much larger and the tax department has to start trusting the assessee and the taxpayer'. He said that the investors and taxpayers are going to be taxed on the basis of residence-based principles.

Emphasizing on a need to start trusting the assesses, Jaitley said that in the last few months, procedures have been simplified and the ' assesses have never seen such an easy and friendly approach of the taxation department. He also said that all grey areas are being made clearer when it comes to taxation and the tax department and ease of communicating with tax department is going to continue.  Listing out various measures aimed at simplifying the procedures, Jaitley said dispute resolution mechanism has been put in place at the appeals stage with respect to tax matters.

Commenting on Income Declaration Scheme 2016 - which can be availed till September 30 - Jaitley said it provides a good opportunity for anyone to disclose domestic income for which filing has not been made before. Recently Prime Minister Narendra Modi in a meeting with tax authorities raised the issue to double the tax base to 10 crore people from the existing little over 5 crore. Currently, India has three slabs corresponding rates of incomes tax - 10% on income exceeding Rs 2,50,000, 20% on income exceeding Rs 5,00,000, and 30% on income exceeding Rs 10,00,000. 



Top News Today
Suven Life Sciences secures product patent in Singapore
(18-Oct-2017)

Suven Life Sciences secures product patent in SingaporeSuven Life Sciences has secured one product patent from Singapore corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents......click on news to read complete article.

Jubilant Life Sciences issues commercial papers worth Rs 50 crore
(18-Oct-2017)

Jubilant Life Sciences issues commercial papers worth Rs 50 croreJubilant Life Sciences has issued Commercial Papers (CPs) aggregating to Rs 50 crore on October 17, 2017. The company has issued two commercial papers of Rs 25 crore each providing an interest rate of......click on news to read complete article.

Peninsula Land receives Rs 200 crore from Godrej Skyline for Pune land
(18-Oct-2017)

Peninsula Land receives Rs 200 crore from Godrej Skyline for Pune landPeninsula Land has received Rs 200 crore out of the total consideration of Rs 226 crore from Godrej Skyline Developers for sale of property situated at Village Mamurdi, Taluka Haveli, District - Pune,......click on news to read complete article.

International Stock News
Asian markets trade mostly lower in early deals on Wednesday
(18-Oct-2017)

Asian markets trade mostly lower in early deals on WednesdayMost of the Asian equity benchmarks are trading lower in the early deals on Wednesday with investors trading cautiously as China's President Xi Jinping spoke at the beginning of the Communist Party's 19th......click on news to read complete article.

US markets closed mostly higher on round of positive earnings report
(18-Oct-2017)

US markets closed mostly higher on round of positive earnings reportThe US markets closed mostly higher on Tuesday, with both the Dow and the S&P 500 finishing at records as a round of positive earnings report from major companies boosted positive sentiment and......click on news to read complete article.

Asian markets trade mostly higher in early deals on Tuesday
(17-Oct-2017)

Asian markets trade mostly higher in early deals on TuesdayMost of the Asian equity benchmarks are trading in green in the early deals on Tuesday, with the fresh record highs on Wall Street and firm commodity prices boosting investors' sentiments. Comments by......click on news to read complete article.

 

     
  
Recent Top News News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.