-Live Mint Evasion of duty of over Rs.50 lakh to be made non-bailable offence; arrest provisions under service tax proposed The government may find itself in hot water on budget proposals that make duty evasion beyond a certain threshold a non-bailable offence, allow arrest on suspected withholding of service tax, and provide tax authorities powers to recover dues from a defaulter’s bankers. Although finance minister P. Chidambaram in his budget presentation on 28...
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Demand for Internet and mobile services rising due to lower prices – UN report
-The United Nations There will soon be as many mobile cellular subscriptions as the 7 billion people inhabiting the planet, according to figures released today by the United Nations, which show that strong sustained demand for information and communication technology services is being encouraged by falling prices for broadband Internet. “The World in 2013: ICT Facts and Figures,” produced by the UN International Telecommunication Union (ITU), also shows that despite a positive...
More »Budget 2013: Super rich to pay more but no changes in income tax rates or slabs
-CNN-IBN Finance Minister P Chidambaram plans to get more income for the government by taxing the super-rich and the corporate sector even though he left untouched income tax rates and slabs. Chidamabaram allowed some relief for those who earn between Rs 2-5 lakh per year by announcing that they would be granted a tax credit of Rs 2000 and left most of the items untouched by not tinkering too much with...
More »Rail Budget 2013: Measures that will cheer middle class
-The Times of India Railway minister Pawan Kumar Bansal on Tuesday announced many initiatives in his Rail Budget 2013 speech that will bring cheer to middle-income passengers. From better e-ticketing facilities to free wi-fi on select trains, the Railway Budget will lead to implementation of many passenger friendly measures. Here is a look at some of them: 1) e-ticketing through Mobile Phones. Project of SMS alerts to passengers providing updates on reservation status. In...
More »Aadhaar must be basis for direct benefit transfers: Ashok Khemka
-The Economic Times The Direct Benefits Transfer (DBT) scheme commenced with the initial rollout in 20 districts covering seven scholarship schemes. Another 23 districts will be covered by March this year. The intention is to link all government benefits to Aadhaar-based identification of beneficiaries and to channelise the cash benefits through Aadhaar-enabled bank accounts. Irrespective of the merits of translating some benefits delivered in kind like in PDS into their cash-equivalent, for...
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