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The exports promotion council for special economic zones (SEZ) today said the government should reconsider their demand to restore tax benefits for supporting growth of the sector and generating jobs as the budget did not bring any concrete measure. The Export Promotion Council for EOUs & SEZs (EPCES) said the budget has “absolutely nothing” important for the SEZs despite flagging the key issues affecting the sector. The industry has asked for the removal of minimum alternate tax (MAT) and continuation of tax incentives being enjoyed by units in these zones.…

There is “unevenness” in the taxes paid by the salaried class and business people, as 50 per cent of the 7 lakh companies which file I-T returns show zero or negative income, Finance Secretary Hasmukh Adhia said today. The government, he said, is working on removing the “unevenness in the tax paid by different classes of people” by using foolproof technological system. He said the tax payer base has gone up after the GST roll out as well as demonetisation and there has been a concerted effort to make India…

The Jammu and Kashmir Legislative Assembly today passed the Rs 95,666.97 crore budget for 2018- 19 with 20 per cent rise in the budget size over this year. The Jammu and Kashmir appropriation bill-2018 moved by the finance minister Haseeb Drabu in the house in this regard was passed with voice-vote. For the first time in state s legislative history, the finance minister has linked the appropriation bill with wide- ranging expenditure reforms to ensure checks and balances for efficient fiscal management and speed up spending to make productive use…