The SBI Chairman, O.P. Bhatt, said the Union Budget has been framed in the backdrop of recessionary tendencies in the global economy and slowing down of growth within the country. This Budget

The government proposed creating a mechanism to address disputes arising in taxing subsidiaries of foreign companies. "I therefore, propose to create an alternative dispute resolution mechanism

Basic exemption for individual tax payers was increased by Rs 10,000 for general tax payers and women and Rs 15,000 for senior citizens (i.e. 65 years and above) by the finance minister on Monday.

The budget has proved to be a letdown for the corporate sector and has not been very encouraging in view of the current economic scenario, according to noted city-based corporate tax consultant

The government today abolished the Commodity Transaction Tax (CTT) that was announced in the Budget last year, but was yet to be implemented and the commodity exchanges rejoiced the decision.

Promising to halve poverty by 2014 and add 12 million jobs each year, Finance Minister Pranab Mukherjee presented India's budget for this fiscal that hikes income tax exemption limit and steps up

In a bid to give a fillip to the current round of auction of hydrocarbon assets, Finance Minister Pranab Mukherjee Monday extended the tax exemption on profits in the natural gas sector.

Finance Minister Pranab Mukherjee brought lawyers under the ambit of service tax in the union budget for 2009-10."I propose to bring certain legal services under the ambit of service tax," said

Bowing to the long standing demand of India Inc, Finance Minister Pranab Mukherjee has abolished the fringe benefit tax and commodity transaction tax.

A new direct tax code will be introduced in 45 days and bring changes in the indirect tax structures, the Finance Minister, Pranab Mukherjee, said while presenting the union budget for 2009-10 in the