Economy

All about Benami Transactions

Benami is a familiar term. We, the middle-class Indians are born cursing politicians and bureaucrats who own Benami properties, isn’t it? It’s time to know more about Mr. Benamidar, the different shades of Benami Transactions as per The Prohibition of Benami Property Transactions Act! Benami covers both movable and immovable …

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Unemployment problem in India

Some data from Primary School books. As children, we wouldn’t have understood either the meaning or the importance of many points. So, good to revisit them now. The total land area of the world is 14,89,40,000 square kilometers and of which, India occupies 32,87,590 square kilometers (just over 2% of …

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I stand corrected – the Economy is doing good

Is the Economy doing good? I get assorted, too extreme views – for and against. The published junk data, usually, does not tell the truth. So, I resorted to checking the ground realities from a few of my connects, and here is what I heard, in an unmixed form. High-end …

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Why no Income Tax on Agricultural Income?

The Constitution of India is the supreme law of India. It contains 395 articles (similar to Sections) and 12 Schedules. The distribution of powers between the Union and the States is defined in several Articles and Schedules. One such Schedule, namely, the 7th Schedule, which contains 3 lists; allocates the …

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Why privatizing Government banks is a bad idea

The Finance Minister recently announced that “Other than IDBI Bank, we propose to take up the privatization of two Public Sector Banks and one General Insurance company in the year 2021-22. This would require legislative amendments and I propose to introduce the amendments in this Session itself” After this announcement, …

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Union Budget 2021 : Part 1 – Customs Related

I am not in a hurry to write on the Budget w.r.t the Income Tax Proposals as they are not going to change overnight. All the income tax related provisions are applicable for the next financial year starting 1st April 2021and some changes may happen before it is passed by …

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What will be there in the Union Budget?

A budget is a statement showing the projected income and estimated expenditure for a specified period. The one our Finance Minister is presenting on 1st February is the Budget of the Union Government for the year starting on 1st April 2021 to 31st March 2022. What can we expect from …

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Can we get donations from abroad?

One of the repeated enquiries I got during the COVID period (last 7 months) was about the Registration of Trusts. Many people were in a hurry to start a trust and their most common question was about how to get funds from abroad! By looking at them, I was also …

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