-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,...

-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...

-The Times of India NEW DELHI: Flagging poor returns to farmers due to low minimum support price (MSP) and inadequate market interventions, farm activists on Tuesday demanded setting up a permanent statutory commission on farmers' income and asked the government to take measures to ensure remunerative prices to cultivators and make the farming climate resilient. Pointing at the economic survey which found only a slight increase in real agriculture income in the...

-Scroll.in Subramanian’s document says 1.8 million taxpayers have been added to the net, but most are just at the Rs2.5 lakh threshold. The Reserve Bank of India’s report in 2017 confirming that Prime Minister Narendra Modi’s demonetisation decision resulted in almost all of the withdrawn notes being returned prompted the government to look for other indicators as proof that the effort had not been a waste. One of those was supposed to...

-Livemint.com While trade policy is skewed against farmers, rural schemes lag behind targets, say the organizations New Delhi: The Union government has overlooked the spectre of rural distress and gone back on its promises to ensure remunerative returns to farmers, several farmer organizations claimed on Tuesday while releasing a paper on the state of Indian agriculture, ahead of the Union budget. Titled Green Paper on Farmers, Farming and Rural Economy 2018, the document...