The second phase of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme could see a three-fold hike in its fund allocation in the upcoming budget session.  The JNNURM is likely to witness an increase of Rs 700-800 crore in its budget.

In order to provide the much needed relief to people, a Parliamentary panel scrutinizing the Direct Taxes Code (DTC) Bill has suggested raising the income tax exemption limit to Rs 3 lakh and also hiking deduction on savings to Rs 2.5 lakh.

Handicraft exporters have urged the government to continue 2 percent interest subsidy scheme beyond March 31, 2012, in the backdrop of demand slowdown in global markets like Europe and the US.

Industry chamber CII has urged the Finance Ministry to reduce import duty on non-coking coal used for power generation in the upcoming Budget.

Ahead of the presentation of the Union budget, software icon N R Narayana Murthy on Monday urged the government to make it easier for businesses to grow and foreign direct investment, among others.

Industry body CII has urged the government to raise service tax exemption limit for small units to Rs 25 lakh, from existing Rs 10 lakh, to maintain the growth momentum of the sector.

Salaried employees earning up to Rs 5 lakh a year will not be required to file income tax returns from this year, says a Finance Ministry notification.

Amid talk that service tax could be imposed on film tickets in the coming budget, a delegation of film makers along with Information and Broadcasting
Minister Ambika Soni today met Finance Minister Pranab Mukherjee.

A Parliamentary panel will meet on Friday to discuss the report on the Direct Taxes Code (DTC) Bill, understood to have favoured raising I-T exemption limit to Rs 3 lakh.

In a bid to boost housing sector credit, the government is contemplating to enhance income tax exemption for up to Rs 3 lakh paid as interest on housing loans in a year, from the existing limit of Rs 1.5 lakh.