Hospitality and travel sector players on Tuesday demanded infrastructure status for the hotel industry besides measures such as tax exemption on LTA annually to boost domestic tourism ahead of the Union Budget. They also recommended removal of the current TDS levied on automated bookings for internal or closed user groups such as business travel platforms and reducing the total number of licenses required to establish a hotel. "A full-blown infrastructure status for the hotel sector and further rationalisation of the Goods and Services Tax (GST) and a Central single window clearance for hotel projects are some of the major expectations from the Budget 2024," Roseate Hotels & Resorts CEO Kush Kapoor said in a statement.
The government has become used to accounting for TDS as its income even though it knows a significant portion needs to be returned as refund
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Follow this 15 x 15 x 15 rule to become a crorepati without taking big risks. Ramalingam Kalirajan explains how
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
The raids come as Rajasthan is witnessing an intense power tussle between chief minister Ashok Gehlot and his deputy Sachin Pilot.
Break the chains of debt, invest in your future, and wave the flag of financial independence high. Freedom awaits, comrades. Let's conquer this battlefield together this Republic day, exhorts Vatsal Ramaiya.
Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections. Sitharaman will on Wednesday present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
Ramalingam Kalirajan explains the pros and cons of both investment types.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Many salaried taxpayers hold the misconception that they don't need to disclose any other income since TDS is deducted from their salary.
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
'Choose an equity allocation that will allow you to remain invested even if the market falls by 50 to 60 per cent.'
oans help you achieve your financial goals, even if you do not have 100 per cent of the funds needed for it immediately.
Individuals and entities, whose accounts are not required to be audited, were mandated to file I-T returns by July 31.
However, the meeting of the company's board of directors, through video conferencing, started at 1.30 pm and ended only at 11.50 pm on Tuesday, according to a filing made to BSE at 12.51 am on Wednesday. In the 2024 December quarter, the airline, which had been facing multiple headwinds, raised Rs 3,000 crore from qualified institutional investors.
It is important to clarify that availing of an exemption is neither evasion nor tax planning.
Raising slogans against the Bharatiya Janata Party, Trinamool Congress (TMC) leaders ended their 24-hour protest at the Mandir Marg police station in New Delhi on Tuesday evening, a day after they were detained while staging a dharna outside the Election Commission's office.
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The best way to put the economy back on track is to abolish income and corporate taxes, as this will not only raise confidence but also increase savings and boost growth, the Bharatiya Janata Party's Subramanian Swamy tells Faisal Kidwai.
Tata group retail firm Trent Ltd reported a 34 percent increase in consolidated net profit to Rs 496.54 crore in the December quarter, helped by the expansion of the store network and increase in attractive value propositions. The company's consolidated revenue from operations grew 34.32 per cent to Rs 4,656.56 crore during the quarter under review. Trent is also pursuing store portfolio optimization, which involves upgrading or consolidating smaller footprint stores with newer stores in more attractive micro markets.
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
Do you have financial planning queries? Ask rediffGURU Abhishek Dev.
Prime Minister Narendra Modi on Thursday said the interim Budget presented by Union Finance Minister Nirmala Sitharaman offers the "guarantee" of strengthening the foundation of a developed India and carries the "confidence of continuity".
After a massive selloff in the shares of food delivery giants Zomato and Swiggy, analysts believe the time may be right for investors to start adding these stocks to their portfolio carts. Their optimism, they say, stems from the sharp correction in stock prices and valuations, which seem to have "over-baked" concerns about the two companies.
'Expect India to keep doing well irrespective of geopolitics.'
Crorepatis build wealth through disciplined saving, smart investing, and strategic risk-taking, proving that true financial freedom is earned, not inherited, says Ramalingam Kalirajan
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Double tax exemption on wages paid to women can encourage companies to hire, retain and compensate women better, argues Nitin Pai.
Rishi Piparaiya lists three simple steps to manage the impact of rising prices and protect your financial future
Recent documents by NITI Aayog and periodic labour force surveys on employment show that the importance of agriculture is rising in the Indian economy.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Prime Minister Narendra Modi on Sunday accused the opposition of playing 'negative politics' and said now the entire country is rooting for corruption, dynasty and appeasement to 'quit India'.
With the rapid evolution of channels like quick-commerce and the emergence of ONDC, the Indian retail industry is 'cautiously optimistic' for 2025, in which new-age technologies such as AI and automation will play a crucial role, driving efficiency and personalisation.
One wing of the government's definition of what constitues infrastructure is different from that of another and this needs to be resolved fast.
From how to open an NPS Vatsalya account to knowing how this scheme compares to investing in mutual fund or in provident fund, Ramalingam Kalirajan offers a 360-degree view and the pros and cons of investing in a scheme that has the potential to secure your child's financial well-being.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
The action came after investigations carried out by an inter-ministerial committee formed by the home ministry in 2020.
