I-T dept not to reopen cases prior to April 1, 2012: Pranab

Last Updated: Wednesday, May 30, 2012, 14:10

Providing comfort to worried foreign investors, Finance Minister Pranab Mukherjee on Wednesday said the Income Tax Department will not re-open cases where assessment proceedings had been finalised before April 1, 2012.

I-T dept not to reopen cases prior to April 1, 2012: Pranab

Last Updated: Wednesday, May 30, 2012, 14:10

Providing comfort to worried foreign investors, Finance Minister Pranab Mukherjee on Wednesday said the Income Tax Department will not re-open cases where assessment proceedings had been finalised before April 1, 2012.

'GAAR pushed back, but new tax rule may still drive away FIIs'

Last Updated: Sunday, May 20, 2012, 14:14

Foreign investors may be relieved over the controversial GAAR tax proposals being pushed back by a year but another new taxation framework could make their India investments riskier and expensive.

Cabinet clears Micro Finance Bill; RBI to regulate MFIs

Last Updated: Friday, May 11, 2012, 00:03

The Union Cabinet Thursday approved a bill to regulate the micro finance industry and bring the micro lenders under the purview of the Reserve Bank.

Foreign industry bodies seek more clarity on Finance Bill

Last Updated: Wednesday, May 9, 2012, 23:37

Ten overseas associations, including USIBC and USCC, in a letter to Finance Minister Pranab Mukherjee have sought further confirmation that Finance Bill, 2012 will not override India's DTAAs.

FinMin to recover Rs 20,300 crore tax from Vodafone

Last Updated: Wednesday, May 9, 2012, 22:30

A day after the approval of the Finance Bill by the Lok Sabha, the government on Wednesday said that it will move ahead to recover the tax and penalty from the British telecom major Vodafone which is currently estimated at Rs 20,300 crore.

FM confident of overcoming high current account deficit issue

Last Updated: Tuesday, May 8, 2012, 22:41

Terming the high current account deficit (CAD) of 4 percent a matter of concern, Finance Minister Pranab Mukherjee exuded confidence that government would be able to overcome the situation and sought support of political parties and states for approving key tax reform bills.

Lok Sabha passes Finance Bill 2012-13

Last Updated: Tuesday, May 8, 2012, 20:37

Chassis for commercial vehicle, ball point pen ink and goods required for solar power projects would become cheaper under duty concessions announced by Finance Minister Pranab Mukherjee in the Lok Sabha after which Finance Bill, 2012 was passed.

FM's message to MNCs, no rethink on Vodafone tax

Last Updated: Tuesday, May 8, 2012, 19:06

In a strong message to multinationals campaign against taxing Vodafone, Government on Tuesday ruled out any rethinking on the issue making it clear that India cannot be a tax haven just to attract foreign investment.

Rising oil subsidy needs to be addressed: FM

Last Updated: Tuesday, May 8, 2012, 09:08

Concerned over the impact of rising oil prices which may go up to USD 150 a barrel on the economy, Finance Minister Pranab Mukherjee Tuesday said the Centre, states and political parties would have to collectively develop a mechanism to deal with the situation.

Finance Bill in Parliament today

Last Updated: Monday, May 7, 2012, 10:01

The Parliament will discuss Finance Bill on Monday amid hope among investors that there would be more clarity on the General Anti-Avoidance Rule (GAAR).

Proposed changes in Finance Bill to impact foreign investment

Last Updated: Saturday, April 28, 2012, 18:42

The overall impact of the proposed amendment of the Income Tax Act in the Finance Bill will be very negative and dampen investor sentiments, senior lawyer of Supreme Court, Harish Salve said here on Saturday.