Page-2 of Economies
Long Term Capital Gains
Capital gain refers to the gain or profit from the sale of property or an investment. Investment may be in shares, equity, gold, real estate or valuables like paintings. Capital Gains tax is of two kind viz. Short term and long term. ..
Hasmukh Adhia committee committee on exports constituted by Union Finance Ministry
The Union government has constituted a GST Committee on Exports headed by revenue secretary Dr Hasmukh Adhia to look into issues of export sector and to recommend suitable strategy for helping the export sector in the post-GST scenario to the ..
Pradeep Kumar Sinha committee formed by GST Council to select members of National Anti-profiteering Authority (NAPA) under GST
The Goods and Service Tax (GST) Council has formed a selection committee under the chairmanship of cabinet secretary Pradeep Kumar Sinha to identify and recommend eligible persons for appointment as the chairman and members of the National Anti-profiteering Authority under ..
India, UK sign three advance pricing pacts
India’s Central Board of Direct Taxes (CBDT) and the UK have signed three Bilateral Advance Pricing Agreements (B- APAs) taking the total number of APAs concluded between India and the UK to 5. So, far India has signed a total ..
Govt to shrink sensitive list to make SAFTA work, improve Pak ties
To improve relations with Pakistan, India is likely to cut the peak tariff rate to 5 % within three years. The Union Cabinet might allow a diminution in the sensitive list by 30% for Non-Least Developed Countries (NLDCs), under the ..
Month: Current Affairs - August, 2012
Prime Minister constitutes committee to review taxation of development centres & IT sector
To review taxation of development centres and IT sector a committee has been established by the Prime Minister Dr Manmohan Singh. The Committee will function in consultations with stakeholders and related government departments to finalize the Safe Harbour provisions announced ..
Month: Current Affairs - July, 2012
Tamil Nadu draws FDI faster, states study
As per a latest study, Tamil Nadu has left behind states like Gujarat and Andhra Pradesh in attracting Foreign Direct Investment (FDI). The state has attracted investments of around Rs 6,711 crore in 2011-12, which is 66 % higher than ..
Month: Current Affairs - July, 2012
New Service Tax regime comes into force
A new service tax regime has come into force. All services, except 38 services in the negative list, will now attract 12% service tax. The government has also broadened the definition of ‘Services’ to bring in more activities under the ..
Month: Current Affairs - July, 2012
India losing Fiscal Deficit Targets
India’s fiscal deficit reached almost 71% of its full-year target in the first half of the year, casting doubts over its ability to meet budget goals as central finances feel the pressure of squeezed revenues and slowing growth. India’s fiscal ..
Month: Current Affairs - December, 2011
Category: Government Schemes Current Affairs
India-Iran: Settled to set a Mechanism for Payment of Crude Oil
India and Iran settled to set up a mechanism for payment of crude oil. The mechanism covers the payment to Indian exporters and a few other domains. In the past Iran threatened to discontinue crude oil supplies to India in ..