CBDT sets up taskforce to monitor tax collections
The Central Board of Direct Taxes (CBDT) has set up a 10-member task force to constantly monitor the direct tax collections. The task force will be required to submit a report on the progress with regard to meeting Budget targets to revenue secretary and chairman CBDT every fortnight.

Phdcci urges Punjab govt to reduce tax slabs from 8 to 4
The PHD Chamber of Commerce and Industry (Phdcci) has urged the Punjab government to reduce the sales tax slabs in the state from 8 to 4. In its pre-Budget memorandum to the state government, the chamber has suggested the government to optimize revenue receipts through maximum compliance.

RBI expected to step in to stem rupee slide today
The Reserve Bank of India (RBI) is all set to intervene in the forex market today to check any slide of the Indian currency in the aftermath of the Moody's downgrade on Friday. The central bank has already discounted the downgrade made by the international rating agency and is likely to issue a statement on Monday to this effect.

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