There is more to tax planning than just Section 80C and infrastructure bonds.
'Our intentions were, and still are, to ensure the entire workforce is given as much protection as possible from redundancy and/or loss of earnings during this unprecedented period'
The states which achieved "extraordinary growth" in total taxes collected include Kerala (44 per cent), Jharkhand (20 per cent), Rajasthan (14 per cent), Uttarakhand (13 per cent) and Maharashtra (11 per cent), an official statement said.
With telecom and banking majors stepping up mobile banking services, 2011 is poised to be the year that would transform your banking habits - making payments or checking your account balance on your mobile.
The government is looking to plug loopholes in the Indian customs law provision that allows tax exemptions for gifts up to Rs 5,000 and trade samples up to Rs 10,000 sent to India from abroad.
Finance Minister Nirmala Sitharama on Thursday stated the government is planning to provide a relief package of Rs 1.7 lakh crore to the underprivileged, poor and migrant workers affected by the lockdown amid the coronavirus outbreak. The scheme has been named the Pradhan Mantri Garib Kalyan Scheme.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
Ninety-nine companies, which also include some unlisted ones, have more than Rs 100 crore each of minimum alternate tax credit on their books, cumulatively adding up to Rs 75,000 crore. By utilising MAT credit, many companies will be able to bring down their effective tax cost.
Tax experts said historically in July and August indirect tax collections remain subdued and pick up with the onset of the festive season post Ganesh Chaturthi.
Cabinet to take up proposal to extend operation & maintenance contracts from 9 to 29 years
If proved correct, MJ-1 would the third biggest gas field in KG-D6 after D1&D3.
Total indigenous production between 2011 and 2015 would need to expand from about $30 billion to more than $70 billion.
Mahindra Satyam, the erstwhile Satyam Computer Services, has sought time until September 30 from the Company Law Board (CLB) to file financial statements.
The airline has an annual wage bill of Rs 3,100 crore (Rs 31 billion) and the report has said as many as 2,600 employees will retire during the period of freeze.
This demand is over and above the Rs 1,200 crore.
The decision to seek tie-up details from CA firms, especially those associated with the Big 4 -- PWC, Ernst & Young, KPMG and Deloitte -- follows a report by an Institute of Chartered Accountants of India committee on the multi-crore Satyam scam.
KPMG's global board will meet in India next week
Exemption limits, standard deduction on radar.
The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.
At least one Indian company will be among the top six carmakers that would dominate the global auto industry by 2020, a study by global consultancy firm Deloitte said.
According to the decision, such entities can now first operate through e-commerce and then open brick-and-mortar stores.
Indian venture capitalists and private equities are expected to invest over $8.5 billion (about Rs 42,000 crore) in the next five years in sectors like biotechnology, life sciences, film production and education, an Assocham-Deloitte study said.
Nandan Nilekani said one board member had received two anonymous complaints on September 30, 2019 - one dated September 20, 2019, titled 'Disturbing unethical practices' and an undated note with the title, 'Whistleblower Complaint'.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
Otherwise, while filing returns, you may have to pay additional tax.
Despite these successes, Railway Minister Prabhu has had his share of criticism.
An Indian-origin accountant was killed by her former boyfriend who stabbed her 20 times after he found out that he had been dumped, a court was toldin London. Camille Mathurasingh, 27 was knifed 20 times in the kitchen of her home in Bow, after her former boyfriend flew in from Trinidad to try to win her back, the jury was told at the Old Bailey.Paul Bristol, 24, admits manslaughter but denies murder in April 2009.
According to sources, various players specialising in e-auction like Deloitte, Metal Junction (it specialises in e-auctions for steel manufacturers and allied industries), Spiderboon Internet Service Pvt Ltd (an e-auction and e-tender service provider), N M Rothschild and Sons (investment banking and advisory firm) were represented.
The chartered accountants regulator ICAI on Thursday said KMPG cannot audit Satyam's books, but the global auditor said it does not require to register with the regulator to restate the IT company's accounts.
A week after B Ramalinga Raju, the promoter of Satyam Computer Services, confessed to manipulating the accounts for several years, Price Waterhouse, external auditors of the Hyderabad-based software services firm, said its audit report should not be relied upon.
With India gearing up to host the Commonwealth Games next year, hoteliers in the country are rushing to make the most of the likely spurt in tourist traffic, leading to a boom in development, global consultancy firm Deloitte has said.
The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables.
Sebi's surveillance department has red-flagged unusual trading patterns in some stocks. Shares of some companies were seen going up ahead of a sharp sell-off.
Sections in the draft Personal Data Protection Bill are a blatant violation of the Right to Privacy as guaranteed by the Constitution.
Real Madrid remained the world's richest soccer club and English clubs were hit by the declining value of the pound, according to an annual survey by accountancy firm Deloitte released on Thursday. Manchester United and Barcelona held their respective second and third positions in the latest "Football Money League" report on the world's 20 biggest soccer clubs ranked by revenue.
The empowered committee on GST headed by West Bengal finance minister Asim Dasgupta has agreed to a dual structure of the proposed indirect tax regime, which is likely to be introduced from April 2010. The new tax regime would do away with most of the indirect taxes levied at the Centre like excise and services tax, and VAT and Octroi at the State level.
English Premier League clubs spent a record 160 million pounds ($227.7 million) in the January transfer window, business advisory firm Deloitte said on Tuesday. Spending that defied the credit crunch was done mainly by Manchester City (more than 50 million pounds) and Tottenham Hotspur (45 million).
While Delhi boasts of one of the best metro systems in the world and decent infrastructure, reckless construction, legalising unauthorised colonies, and the worsening water and air quality dent its image of being a robust cosmopolitan city.
Proposals from the Centre's side include raising the 5 per cent slab to anywhere between 6 and 8 per cent, and doing away with the 12 per cent slab. A few states may oppose such a move because it involves hiking tax on items consumed by the poor. They have instead proposed raising the 18 per cent slab.
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