-The Times of India MUMBAI: The Income-tax Act is intricate — sometimes income received by an individual even if it relates to employment, does not fit within the technical definitions of 'salary' or 'profits received in lieu of salary'. Thus, very often, such income could not be taxed. Budget 2018-19 proposes to change this scenario. A wide range of income received — say non-compete payments (which sometimes did not fit the above...
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Richest companies have the lowest tax liability -Tina Edwin
-The Hindu Business Line They milk tax breaks in ways that smaller firms can’t, paying only 23.9% tax on average New Delhi: India’s most profitable companies paid 23.9 per cent tax on an average on their profits for financial year 2016-17, about 10.7 percentage points lower than the statutory rate of 34.6 per cent, helped by a wide range of concessions and incentives, the latest Budget documents show. These companies, 335 in all,...
More »Budget 2018: Kiska Saath, Kiska Vikas? -N Paul Divakar
-TheWire.in The Dalit and Adivasi community’s analysis of the budget shows gross under allocation – only 50.7% has been allocated towards targeted schemes for SCs and 51.24% for STs. On the 26th January 1950, we are going to enter into a life of contradictions. In politics we will have equality and in the social and economic life we will have inequality. In politics we will recognize the principle of one man one...
More »The opaque 1% -Lucas Chancel & Thomas Piketty
-The Indian Express More transparency is needed for Indian society to have an informed debate about rising inequality In a recent study titled ‘Indian income inequality dynamics (1922-2014): From British Raj to Billionaire Raj?’ published on WID.world, we presented new estimates of the distribution of national income in India, from 1922, when the income tax was introduced, up to 2014. In this study, we systematically combine the best available data at hand...
More »Farmer Sutra: Jaitley focuses on the rural sector
-The Hindu In a pre-election Budget, Finance Minister Arun Jaitley serves up a mix of populism and prudence With a clear eye on the Lok Sabha election, Union Finance Minister Arun Jaitley pulled out all the stops in the Narendra Modi government’s last full Budget to promise a better deal for farmers, boost the rural economy and make the poor less vulnerable to health exigencies. Responding to the distress in the agriculture sector...
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