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After sharp criticism of a Budget proposal to tax 60 per cent of the amount withdrawn from the Employees' Provident Fund, the Union finance ministry will consider suggestions for partially withdrawing it. Show full article Read more from our special coverage on "EPFO, BUDGET 2016 " EPF tax: Its a healthy proposal

The next financial year will be a tightrope walk for Finance Minister Arun Jaitley, with the mounted challenge of narrowing the fiscal deficit and enhancing tax revenue collections to compensate for higher salaries and pensions and capital spending. Besides raising tax revenue, Jaitley will have to deliver on the promise of a fair, transparent and non-adversarial tax regime in light of multinational companies such as Vodafone receiving fresh notices for payment of tax dues based on retrospective provisions. Though the government has been assuring investors that it will not invoke the retrospective tax clause, there has been no attempt to remove it from the statute. Read Full Article Over Here :  Business Standard News Read our full coverage on  Union Budget 2016

As the government readies an action plan for startups, an investors’ body today sought tax incentives on investments and easier norms for opening and closure of a company to give a boost to such ventures. Investors’ association TiE Silicon Valley President Venktesh Shukla said a large number of startups are failing and “we should allow them to close their units in an easy way. It is extremely critical because lot of their energy is wasted in unproductive work”. Norms should also be eased for Indian startups to raise money, he said while interacting with media on the ‘Startup India’ event to be held tomorrow, when Prime MinisterNarendra Modi will unveil an action plan to encourage budding entrepreneurs. ALSO READ: Creating the right environment to boost India’s startup ecosystem The other members of the association asked for tax incentives in all investments coming from the US. Kanwal Rekhi, managing director of Inventus Capital said that India does not impose tax on investm...

The Nitish Kumar government today decided to impose 13.5% tax on luxury items including on sweets priced more than Rs 500 a kg and mosquito repellant among others to mop up additional revenue for carrying development work. Decision to this effect was taken at a meeting of state cabinet presided over by Chief Minister Nitish Kumar here.  Read Articles