The total direct tax collection stands at a little over Rs 9 trillion, giving the taxman just few days to reach the 2018-19 revised target of Rs 12 trillion., reports Shrimi Choudhary.
Amid criticism over the formation of foam in the Yamuna -- a sign of its hazardous water quality -- the Delhi government on Tuesday deployed 15 boats to remove the froth with the help of ropes.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
The bill was passed in the assembly in December last year but was pending before the council where the ruling Bharatiya Janata Party is one short of a majority.
The proposal may provide relief to the tune of Rs 9,000 crore to service providers.
All India Anna Dravida Munnetra Kazhagam (AIADMK) interim general secretary Edappadi K Palaniswami (EPS) and ousted party leader O Panneerselvam on Tuesday moved the Madras high court against the sealing of the party headquarters by the Tamil Nadu government following violence there on July 11.
Any league restart would see matches played in front of empty stands.
Vodafone Idea on Wednesday said its board has approved availing the four-year spectrum payment moratorium being offered by the government as part of its relief package for the telecom sector. The other options offered in the Telecom Department's notification will be considered by the board of directors within the stipulated timeframe, it said in a regulatory filing. "...we wish to inform you that the Board of Directors of the company has approved the exercise of the option of deferment of the company's spectrum auction instalments for a period of 4 years (October 2021 to September 2025) in accordance with ...the notification dated 14 October 2021 issued by the Department of Telecommunications (DoT) to the company," it said.
When Nirmala Sitharaman announced her new privatisation policy, there were serious doubts if the move had the BJP's full political backing. All those doubts were dispelled when her initiatives were endorsed by Modi in Parliament, observes A K Bhattacharya.
"God save the King" were the words with which those gathered reaffirmed the proclamation made by the clerk of the council.
A 14-member council of ministers was sworn in Patna by Governor Phagu Chauhan on Monday and the BJP bagged seven berths.
If the fiscal deficit for the year can be maintained at Rs 7.04 trillion, the deficit as a percentage of GDP will slip to 3.44 per cent
Union Finance Minister Nirmala Sitharaman on Monday said banks need to focus more on being customer-friendly so that the process of availing credit becomes more hassle-free for borrowers. However, the minister made it clear that banks do not have to be lenient on credit underwriting standards by taking any adverse risks on a proposal. At a meeting between industry representatives and the finance minister, a startup founder in the baking business suggested for credit to be available hassle-free, to which largest lender SBI's chairman Dinesh Kumar Khara said a startup's worries are more on the equity side and assured full support in lending if sufficient equity is on the table.
'The economy has to become the government's No. 1 priority, which it is not at the moment,' says T N Ninan.
The case relates roughly to assessment years 2000-01 to 2002-03 and 2004-05 to 2007-08
From Covid-19 essentials, such as Vitamin C supplements and thermometers, to bicycles, laptops, and personal weighing scales, demand for certain items galloped during last financial year as the pandemic altered what Indians used on a day-to-day basis. Imports of outdoor sports equipment, handbags for women, and dentures, among others, plummeted. With outdoor activities coming to a halt last year and schools functioning virtually, imports of sports goods witnessed a decline, while inbound shipments of laptops and battery chargers saw a sharp uptick, according to the import data for the financial year 2020-21.
The new cabinet, predictably, has a sizeable number of Yadavs and Muslims, though members of other sections of the society also find a place.
The bodies of 13 people who were killed in a landslide at Plaupally in Koottikkal village (Kanjirapally Taluk, Kottayam District) were recovered.
'Bottomline, hairline and waistline -- you have to watch them always.'
Apart from the chief minister and deputy chief minister, 13 cabinet and 10 ministers of state were allocated portfolios.
While Eddings cast Roberts's departure as a mutual decision, he also said CA wanted a "new leadership style" and the permanent successor would need strong communication skills.
Success in Karnataka's assembly polls will hinge on two factors: Drop a large number of incumbent MLAs and project Modi and not the state leaders, least of all Bommai.
Taxmen have come across instances where global firms - charged a withholding tax of 6 per cent - are underreporting the exact income they earned from an Indian user.
Governor Banwarilal Purohit administered the oath of office and secrecy to 68-year old Stalin, for whom this would be the first stint as CM
While it is not clear whether the new form will be applicable from this year, some chartered accountants say that things can go both ways. The new deadline for filing ITR is November 30.
'OPS is the first person in history to ransack his own party office.'
The government has so far received about Rs 26,000 crore from AGR payments, including adhoc/ buffer amounts given by telcos to meet any reconciliation differences with the telecom department.
Taxmen also claimed that the signature of Siddhartha on the letter being circulated on the social media under his name "does not match" with the record available with the department.
A day after two cases of the new Omicron variant of coronavirus was detected in the state, the Karnataka government on Friday ordered a probe into test reports of the 66-year-old South African national, that allowed him to leave the country.
The Union Cabinet has approved the modalities for holding 5G spectrum auctions, and 72097.85 MHz of radio waves will be put on the block by July-end, an official release said on Wednesday.
Prime Minister Narendra Modi on Wednesday undertook an aerial survey of affected areas in Gujarat and the adjoining Union territory of Diu to assess the devastation caused by Cyclone Tauktae.
The survey was stalled last week amid objections by the mosque committee, which claimed that the advocate commissioner appointed by the court for the survey did not have the mandate to film inside the premises.
Tourism Minister Anand Singh and Municipal Administration and Small Scale Industries' Minister N Nagaraj (MTB) have openly expressed displeasure over their portfolio, and have sought "weighty" ones.
HUFs are not used for tax evasion but for tax avoidance/to save the tax within the four corners of the law. Experts say that there will be little or almost insignificant change in tax revenues.
The COVID-19 experts in Karnataka expect that the state may witness coronavirus infections touching the peak on January 25 before coming down gradually, Karnataka revenue minister R Ashoka said on Monday.
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
Most of the services of the postal department are incurring losses.
In a major expansion into sportswear and lifestyle wear segment, the Kumar Mangalam Birla-led Aditya Birla Fashion & Retail has signed a long-term licensing agreement with Authentic Brand Group of New York, which has the marketing and branding rights of Reebok, to run the operations of the global sportswear, athletic and lifestyle major in the country and ASEAN markets. The new agreement between the largest domestic multi-brand fashion retailer and Authentic Brand is an extension of their existing relationship as ABFRL already markets and sells some ABG brands like Forever 21. The agreement follows the global transfer of ownership of the Reebok brand from Adidas to ABG, which is expected to close in the first quarter of 2022.
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