This is a third of Rs 33,992 crore debt that was to be passed on to the new owner during last year's failed divestment process.
As many as 97,689 people had more than Rs 1 crore gross income in 2018-19 AY against 81,344 in the previous year, shows official direct tax data.
Though the system is called faceless, it would have a room for inviting tax payers through video conferencing.
The figures are encouraging for the auto industry amid apprehension that due to higher cost and lack of fuel availability, cars with stricter emission standards may not be popular in initial stages. Automakers had even cited this confusion as one of the reasons for dwindling car sales in India, reports Arindam Majumder.
However, compared to August, vehicle sales increased by 15.25 per cent on the back of discounts. Maruti led the market in offering heavy discounts and incentives for buyers and dealers, reports Arindam Majumder.
Divestment in BPCL, SCI, Concor, NEEPCO, and THDC would help the Centre keep its fiscal deficit in check in the wake of subdued tax revenues and a Rs 1.45-trillion hit for the exchequer from corporation rate cuts.
While the Saudi drone strike has put the focus back on anti-drone measures, caution also stems from the fact that India has a number of large oil refining assets close to India-Pakistan border.
The government has set a direct tax collection target of Rs 13.35 trillion, which includes Rs 7.66 trillion from corporation tax and Rs 5.69 trillion from personal income tax.
The need to use behavioral techniques for spotting terrorism acts was felt after such an exercise had helped customs officials recover cash and drugs.
The muted expectation of dealers come at a time when vehicle manufacturers such as Maruti Suzuki, Hyundai Motor, Mahindra & Mahindra and others reported a double-digit fall in wholesale dispatches to dealerships in July and August.
Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
The collections stood at Rs 98,202 crore in the month, against Rs 1.02 trillion in July. The figures indicate continuation of economic slow down which was reflected in the gross domestic product (GDP) growth which plummeted to a 25-quarter low of 5 per cent in the first quarter of 2019-20, experts said.
While Toyota will acquire 4.94 per cent shares of Suzuki, worth $ 908 million, the latter will make a $ 454-million investment in the biggest automaker of Japan. Premium products from the Maruti stable such as the Baleno, Ciaz and Vitara Brezza will be sold under the Toyota brand with small changes.
Lenders have become worried as some dealers were not using the money provided to them for car financing.
DTC task force also favoured doing away with Dividend Distribution Tax by suggesting taxing dividends in the hands of shareholders.
The regulator is now planning to bring in other workers in the aviation ecosystem under the purview of the breath-analyser test. It will include air traffic control officers (ATCOs), ground-handling personnel, flight despatchers, aerodrome operation personnel and engineers.
The regulator will audit an airport's ground facilities, its turnaround and general safety procedures, and the movement of vehicles. Underground facilities, ground servicing equipment, passenger boarding bridges, condition of the apron, marking and lighting, and availability of foreign object dustbin bins will be checked.
Sources in the Fifteenth Finance Commission said that they will implement the provisions after the bill is enacted and the President makes a reference to it.
Gangwal said he will not vote in favour of resolutions that intend to expand the size of the board to 10 members. Gangwal wants a seven-member board.
Digital commerce operators advertising on global social media, which earlier did not pay Google tax on their operations in Jammu & Kashmir, may now have to cough it up at 6 per cent.
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