https://www.taxtmi.com/news?id=2928 The Budget proposes fiscal consolidation through a targeted reduction in the fiscal deficit and a package of tax and compliance reforms: raising the service tax, expanding exemptions, rationalising customs and excise duties, introducing tax collection at source on specified transactions, taxing unexplained income at a higher rate, establishing a GAAR panel, and offering advance pricing agreements. It also advances financial sector liberalisation including relaxed ECB norms and withholding tax relief, capitalisation of banks, an infrastructure debt fund, measures to deepen bond and equity markets, and expanded financial inclusion initiatives. en-us Fri, 16 Mar 2012 15:23:34 +0530 Fri, 16 Mar 2012 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=2928 The Budget proposes fiscal consolidation through a targeted reduction in the fiscal deficit and a package of tax and compliance reforms: raising the service tax, expanding exemptions, rationalising customs and excise duties, introducing tax collection at source on specified transactions, taxing unexplained income at a higher rate, establishing a GAAR panel, and offering advance pricing agreements. It also advances financial sector liberalisation including relaxed ECB norms and withholding tax relief, capitalisation of banks, an infrastructure debt fund, measures to deepen bond and equity markets, and expanded financial inclusion initiatives. News - Fri, 16 Mar 2012 15:23:34 +0530 https://www.taxtmi.com/news?id=2928