The escalation of trade tension between the US and China has the potential to disrupt the global supply chains and jeopardise the projected recovery in growth in 2019, the IMF warned Thursday, over 10 days after President Donald Trump imposed 25 per cent tariff on USD 200 billion worth of Chinese imports.

Wants resolution of the liquidity crisis

This is the first time in the history when a non-Congress government has returned to power with absolute majority

In the interim budget earlier this year, Finance Minister Arun Jaitley provided relief to small and salaried taxpayers. But, a substantial number of them could not get any relief as the tax burden was reduced only for taxpayers earning less than Rs 5 lakh during the financial year 2019-20.

The focus of the income tax department is on tightening the compliance, automation of processes and elevated use of technology, to eliminate opportunities to evade taxes and give efficiency to the government in terms of collection of taxes. And the honest taxpayers may benefit from the lowering of taxes.