-The Telegraph Congress leaders today pleaded with finance minister P. Chidambaram to not compromise on social sector schemes despite constraints of a sliding economy as the party has to face a series of polls this year followed by the general election in 2014. At the annual pre-budget consultation with the party, Chidambaram explained the difficulties created by slow domestic growth and continuing global recession while admitting the importance of sustaining social sector...
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Political donations to get transparent
-The Times of India MUMBAI: India Inc has had to wait for nearly three years for the government to roll out the rules relating to the functioning of electoral trusts. The rules have been recently notified and come into effect from January 31, 2013. The 2009 Budget had introduced provisions relating to electoral trusts in the Income-tax Act. It provided for tax exemption to electoral trusts which distribute contributions to political parties,...
More »Income tax department to quiz PAN holders not filing returns
-PTI In a stern warning to those not paying taxes, the income tax department on Monday said it is sending letters to 35,170 PAN (permanent account number) holders in the first phase for not filing returns and will take appropriate follow up action. There are over 12 lakh PAN holders who had not filed income tax returns, the department said, adding it has set up a nodal cell to monitor such cases. "In...
More »The dishonest super-rich club of India-Tarun Chaturvedi
-The Business Standard Nobody will believe Finance Ministry data that only 400,000 Indians earn more than Rs 20 lakh a year I had barely finished my lecture in support of Tax on Super Rich, when this gentleman sprang up from the audience and asked me how the finance ministry will define “Super Rich” in India. I managed to answer his question by reminding him that certain issues should be left to the...
More »Goa Olympic Association to fund anti-RTI Act campaign
-The Times of India PANAJI: The Goa Olympic Association (GOA) will collect funds from its affiliates to fund a campaign that will keep state associations out of the Right to Information (RTI) Act ambit. The Goa Table Tennis Association sought funds from the GOA during its general body meeting on Thursday to file a court case and then bring it to its logical conclusion. "The table tennis association will file the legal application...
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