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PAN - Mandatory for certain transactions

From time to time we often hear about PAN being mandatory for several transactions. The main aim of bringing these provisions are

  • to widen the tax base
  • to detect high value transactions that might escape tax
  • curb black money
  • to keep audit trail on persons with luxary life style and cross check their income tax returns

We try to bring all such provisions into one place:-

Corporate sector could not have asked more

In the Budget 2015, the corporates of India Inc got more than what they expected. While most of the media concentration is centered around the reduction in Corporate Tax rate from 30% to 25%, there are a slew of other measures which the corporates will benefit from.


Budget 2015 Highlights

Finance Minister Arun Jaitley introduced his maiden budget amid much anticipation. People were expecting a drastic budget, wherein the direction of most important legislations impacting India Inc will be decided.

But after the Budget speech, experts believe this is not a populist budget, but at the same time indicating a proper direction for the future.


Populist Government presents Bold Budget

India's most populist Government has presented a bold budget. It did not do much to appease its voters. The Individual Tax Rates were not reduced or the Slabs of Income changed much. Only small benefits were extended to the individuals. But increase in indirect tax rates will have a bearing on costs of commodities. Not many people will like that. But the budget removes many uncertainities in taxation which will be a big relief for the tax payers.