India's net direct tax collections contracted 1.3 per cent to about 5.63 trillion as of July 10, with corporate taxes dropping 3.7 per cent and non-corporate taxes recording a fractional 0.04 per cent contraction, Income Tax department data released on Friday revealed.
Taxpayers required to file ITR-2 or ITR-3 can now download the Excel utilities from the I-T department's e-filing portal, fill in their details offline.
Destinations like Coorg, Munnar, the Western Ghats, and parts of the North East, are at their scenic best in the monsoon.
'The original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
'...than by the calendar.' Indian travellers are no longer restricting their getaways to summer or winter holidays.
In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
'Experts and stakeholders have raised concern over the refund provision in the draft Bill. That was a drafting error, which will be rectified,' a government official said.
The government on Wednesday asked e-commerce platforms to conduct annual internal audits to make sure that they are not resorting to manipulative tactics to mislead consumers and prevent them from making right choices -- a technique commonly referred to as dark pattern -- and submit reports to the Department of Consumer Affairs (DoCA). It comes just a week after Uber was issued a notice by the Central Consumer Protection Authority (CCPA) over its "advance tip" feature.
Tourists hesitant to visit America due to frequent policy changes there.
The 31st meeting of the Goods and Services Tax (GST) Council, held in December 2018, deferred a decision to reduce the GST rate for cement from 28 per cent to 18 per cent. This was despite recognising that cement - along with automobile parts - remained among the few mass-consumption items still taxed at the highest slab, which was originally meant for luxury and sin goods.
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
Biryani is set to get its own valuation. Devyani International, the largest franchisee of Kentucky Fried Chicken (KFC) quick-service restaurants (QSRs) in India, is considering the acquisition of Sky Gate Hospitality, which operates restaurants under the brand Biryani By Kilo (BBK), it said in a statement to BSE on Monday.
The restaurant chains are riding the Hallyu wave -- a phenomenon about the growing global prominence of South Korean pop culture.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
The revised guidelines are aimed at curbing discretionary practices by field officers, especially the tendency to seek documents not mandated under the law.
From high-end villas with private sommeliers to exclusive showcases at cultural centres to private sessions with Michelin-starred chefs and celebrities, hotel chains are pulling out all the stops
'Adventure travel, cultural tours, and wellness retreats are in high demand.'
Mother Dairy is targeting a revenue of Rs 20,000 crore by financial year 2026 (FY27) as it continues to identify white spaces and introduce new products, the company said. On Wednesday, it launched a new "pro" range of products enriched with protein, starting with milk enriched with 30 per cent more protein than regular milk.
'Bringing it back will help prevent reassessments of the income already disclosed.'
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