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Budget Headlines

FPIs opting not to file tax returns in India may need to cough up more

As per most of the tax treaties, tax rate on royalties and technical fees paid to investors outside India is at 10%. Tax expe...

Budget 2020: Tax settlement scheme not open to launderers

The scheme won't cover cases related to overseas assets, or prosecutions under PMLA, benami or I-T Act.

Budget 2020: Individuals can switch tax regime every year

“If you find the new scheme preferable, you can move to it or you can continue with the old one,” said CBDT.

Six income tax slabs in, 70 exemptions out: Impact on taxpayers

Salaried taxpayers who opt for the new regime will have to forgo the standard deduction as well as exemptions under chapter V...

What’s in Modi's Budget for 1.3 billion Indians? Precious little

Ultimately, it is Indians who will have to believe in the India story to trigger a comeback for the economy.

Avail scheme to get out of demonetisation jam: Revenue Secy Ajay Bhushan Pandey

The scheme will be with regard to unexplained bank deposits and not cash unearthed in raids. Finance minister Nirmala Sithara...

Explaining Budget proposals: Headed for lower tax and no exemptions, says FM

Sitharaman says taxpayers falling in certain brackets will gain from new regime, govt not exiting LIC.

View: FM’s part done, nation has to respond

FM Sitharaman is in an unenviable position with most parameters like consumption, investments, manufacturing, GDP and even ag...

View: Why the please-all budget failed to please all!

Market experts and economists had estimated this year’s fiscal deficit at anything above 3.7% with some estimates even puttin...

Budget 2020 the day after: NRIs' bona fide foreign income won't be taxed

The government said the provision was an “anti-abuse” one and will only apply to income that is generated locally.

Twin pillars of the Budget: Income, purchasing power, says Atanu Chakraborty

Twin pillars of the Budget: Income, purchasing power, says Atanu Chakraborty

In an interview with ET, he says the budget has taken steps both on the investment as well as the demand side to boost growth...

View: FM's protectionist measures are indeed worrisome

View: FM's protectionist measures are indeed worrisome

Not only have tariff increased, licence permit raj-era protectionist vocabulary also has had a comeback.

This colonial tradition is dragging the Budget down

This colonial tradition is dragging the Budget down

Over the years, the Indian budget has been shedding its colonial traditions. In 1999, we changed the timing of the budget fro...

Claiming deductions over Rs 2.5L? The new regime won't help you

Claiming deductions over Rs 2.5L? The new regime won't help you

Anyone claiming tax exemptions of more than Rs 2.5 lakh in a year will not gain from the new structure.

NRIs to be taxed for income earned in India only

NRIs to be taxed for income earned in India only

Income earned outside India by NRIs won't be taxed unless it's from an Indian business or profession.

Crisil is not sold on Sitharaman's Budget

Crisil is not sold on Sitharaman's Budget

Economists say planned budgetary measures are not expected to provide short-term boost to the economy.

Penalties for false entries and fake invoicing: IT Act to be amended

Penalties for false entries and fake invoicing: IT Act to be amended

“Penalty shall also be levied on any other person who causes the person required to maintain books of account to make or caus...

New tax regime to definitely benefit some taxpayers: Sitharaman

New tax regime to definitely benefit some taxpayers: Sitharaman

The govt has released a list of exemptions applicable for taxpayers switching to the new tax system.

No intention to tax global income of NRIs in India, says FM

No intention to tax global income of NRIs in India, says FM

In order to avoid any misinterpretation, it is clarified that in case of an Indian citizen who becomes deemed resident of Ind...

Budget 2020 exempts income of ISPRL from tax

Budget 2020 exempts income of ISPRL from tax

In 2017, the government had exempted foreign companies from paying income tax on the sale of oil they store in India's strate...

Amazon, Flipkart to approach govt for clarification on Budget proposal

Amazon, Flipkart to approach govt for clarification on Budget proposal

New proposed levy of 1% TDS on e-commerce transactions could increase burden on sellers.

Sitharaman's new tax system saves you the hassle, but not money

Sitharaman's new tax system saves you the hassle, but not money

The new system is optional and will co-exist with the old one with 3 slabs and all exemptions and deductions.

Make-or-break Budget? Neither, says Swaminathan Aiyar

Make-or-break Budget? Neither, says Swaminathan Aiyar

Yesterday's budget had no big fiscal stimulus, several protectionist duties, and few steps to revive economy.

Budget defers tax on stock options by 5 years, but is silent on double taxation

Budget defers tax on stock options by 5 years, but is silent on double taxation

Startups have long demanded that tax on Esops must be levied only at the time of sale and not at the time of vesting, as valu...

Cutting the fiscal restraints

Cutting the fiscal restraints

In all, the Budget was a mixed document as has been the trend over the last few years. One has to wait for a clearer picture ...

Budget reforms will bring in new energy to financial system and credit flow: PM

Budget reforms will bring in new energy to financial system and credit flow: PM

Modi says budget will bring pace to the economy, strengthen every citizen financially and solidify foundation of economy.

Why Budget does not have the muscle to reverse slowdown

Why Budget does not have the muscle to reverse slowdown

The govt wants to retain a picture of fiscal discipline but the data shows that it does not really matter.

Can't pinpoint why or where this Budget fell short? This will help

Can't pinpoint why or where this Budget fell short? This will help

The Budget failed to provide specific steps to fix a struggling financial sector and create jobs.

Rupee for kisan, dollar for education

Rupee for kisan, dollar for education

Focus is on helping farmers become competitive with liberal agri markets & state support for livestock, fisheries.

Take-home pay of high earners in India is set to take a big hit

Take-home pay of high earners in India is set to take a big hit

The employer's contribution over Rs 7.5 lakh in a fiscal to retirement funds is proposed to be made taxable.

View: High on rhetoric, with no hope for economic revival

View: High on rhetoric, with no hope for economic revival

With a crashing GDP, declining consumption and decreasing investments, the nation was expecting a visionary and futuristic bu...

Is Sitharaman's divestment plan too ambitious? Probably yes

Is Sitharaman's divestment plan too ambitious? Probably yes

The govt has pegged disinvestment target for FY21 at Rs 1.20 lakh crore, nearly double of its current fiscal target.

Why Budget is yet another chapter of the ‘incremental India’ story

Why Budget is yet another chapter of the ‘incremental India’ story

Given GoI’s desperate need for funds, the FM has decided to tap public financial institutions by selling a bit of their equit...

Cess on medical device imports may cast a shadow on US deal

Cess on medical device imports may cast a shadow on US deal

A trade deal pegged above $10 billion (more than Rs 70,000 cr) has been slated to be finalised when US Trade Representative R...

FM makes entrepreneurs' lives easier with new investment clearance cell

FM makes entrepreneurs' lives easier with new investment clearance cell

The Department for Promotion of Industry and Internal Trade (DPIIT) plans to set up an investment clearance cell for applying...

Ikea is not happy with Sitharaman's Budget

Ikea is not happy with Sitharaman's Budget

Budget raised custom duties on wooden furniture, tableware etc. Ikea imports about 75% of its products.

Budget 2020: Growth unlikely to revive in a hurry

Budget 2020: Growth unlikely to revive in a hurry

Those looking for the budget to revive growth will be disappointed, although in reality there are no shortcuts.

How the new tax regime will impact taxation of individuals, firms

How the new tax regime will impact taxation of individuals, firms

Changes will impact taxation of individuals and companies, and change the ambit of taxation of non-residents.

Budget 2020: Change in basic customs duties to boost Make in India

Budget 2020: Change in basic customs duties to boost Make in India

The 2021 union budget has corrected an anomaly in the duty structure of walnut kernels which had a custom duty of 30% as agai...

Why govt' s move to scrap DDT is sensible

Why govt' s move to scrap DDT is sensible

At present, companies pay a dividend distribution tax at the rate of 20.56%. This is paid in addition to income tax. Individu...

The things consumers got (and did not get) from the FM today

The things consumers got (and did not get) from the FM today

So, what did the FM actually give the common man — the consumer and the taxpayer — today?

The good, the bad and the ugly of Sitharaman's Budget

The good, the bad and the ugly of Sitharaman's Budget

In today's Budget: Simplified GST, new optional tax slabs & an extended tax holiday for affordable housing.

Budget 2020: Here is what has become cheaper & costlier

Budget 2020: Here is what has become cheaper & costlier

Sitharaman proposed reduction in duties on these items in the Budget for 2020-21.

View: Budget 2020 to boost income and purchasing power

View: Budget 2020 to boost income and purchasing power

Focus on agri sector and strengthening infra, scale and speed may help start a virtuous cycle of investment, inclusive growth...

Featurphone prices to increase after PCBA duty hike

Featurphone prices to increase after PCBA duty hike

The government announced a 20% customs duty on PCBA which currently attracts a 10% customs duty, thus encouraging local produ...

Sitharaman's Budget addresses a key India problem

Sitharaman's Budget addresses a key India problem

The strength of government establishments was 32,62,908 as on March 1, 2019, which will increase to 35,25,388 by the same dat...

Tax break you can claim in the new income tax regime

Tax break you can claim in the new income tax regime

Most of the commonly available deductions such as section 80C, 80D, standard deduction etc. have been proposed to be removed ...

The govt may have a solution to keep your dinner prices down

The govt may have a solution to keep your dinner prices down

Onion prices started to flare up from August 2019 onwards peaking to about Rs 150-200 a kg due to unseasonal rains which disr...

More than GoI, India needs a macro policy desperately

More than GoI, India needs a macro policy desperately

Sitharaman has clearly given much thought to agriculture. It is reflected in the 16 measures she proposes. But her thought is...

Budget 2020: ACs, refrigerators may get more expensive

Budget 2020: ACs, refrigerators may get more expensive

The Budget doubled basic custom duty from 10% to 20% on whole lot of imported products such as food grinder, juicer, shaver, ...

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