The fare will be cheaper as it will be capped at Rs 2,500 per passenger.
'Subject to any worldwide economic collapse.'
India is not "rethinking" supporting investments from China, said Commerce and Industry Minister Piyush Goyal on Tuesday, referring to a proposal made in the Economic Survey 2024. The survey by India's chief economic advisor last week said India had two "choices" to benefit from the so-called China plus one strategy, either by integrating into that country's supply chain or by promoting foreign direct investment (FDI). "Chief economic advisor's report speaks about new ideas and gives out their own thinking. It is not at all binding on the government and there is no rethinking to support Chinese investments in the country," Goyal told reporters in Delhi.
Maharashtra is considering imposition of betterment charge and service tax on developers of residential and commercial complexes adjacent to the mega-infrastructure projects lined up in Mumbai.
The decision to impose a 28 per cent tax on the full face value of bets placed on online games will be implemented from October 1 even though there was demand for a review from states like Delhi and Goa, finance minister Nirmala Sitharaman said on Wednesday. The GST Council -- the highest decision making body of the new indirect tax regime that comprises Union finance minister and representatives of all states -- discussed the language of amendments that will be needed to enabling taxing online gaming, she said after the panel meeting.
The principal commissioner has been made responsible for developing and approving any intelligence, conducting search, and completing investigations and relevant subsequent actions, including at the lower field formations, points out T N C Rajagopalan.
They said the Left party is consulting its lawyers to challenge the notice of the tax authorities.
Concerned over the practice of banks and Non-Banking Financial Companies (NBFCs) using penal interest as a revenue enhancement tool, the Reserve Bank on Friday came out with modified norms, under which lenders would be able to levy only "reasonable" penal charges in case of default in repayment of loans. The banks and other lending institutions will not be allowed to levy penal interest with effect from January 1, 2024, the RBI said in its notification on 'Fair Lending Practice-Penal Charges in Loan Accounts'. "Penalty, if charged, for non-compliance of material terms and conditions of loan contract by the borrower shall be treated as 'penal charges' and shall not be levied in the form of 'penal interest' that is added to the rate of interest charged on the advances," RBI said in a notification.
A group comprising top tech startups and unicorns has raised several "serious concerns" over a platform-based gig workers Bill proposed by the Karnataka government, saying it would hurt the ease of doing business. They told the state government the Bill in its current form would hamper operations and increase regulatory and compliance burden on the nascent gig and startup economy, according to sources.
The cabinet also gave its nod to a proposal to amend the Madhya Pradesh Minister (Salary and Allowance) Amendment Bill, 2024, and make a provision for state ministers to deposit their income tax instead of the government bearing such burden.
The education cess will be a 2 per cent surcharge on the total payable tax, and not 2 per cent of total income.
'If petro products are brought into GST, then there will be minor impact on the incidence of tax... and minor impact on prices. The price of petrol, diesel will continue to be driven by global factors'
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
A 7:2 majority verdict by the apex court ruled that the tax legislation by the state does not require the consent of the President under Article 304 B of the Constitution
This would be a practical way of bringing a huge sum of money.
IMAGES from the English Premier League matches played on Sunday
Telecom service providers have doubled down on their demands for a proposed fair-share charge (FSC) to be levied on major over-the-top (OTT) service providers, opening up the 6 GHz spectrum band and increasing the number of testing labs for telecommunication products. Telecom industry body Cellular Operators Association of India (COAI) on Wednesday said these were the topmost demands for Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government. The industry body wants this additional capital expenditure to be borne by these Large Traffic Generator (LTGs) OTTs as a proposed fair-share charge.
The best solution would be the one followed in 2018 -- allow cost indexation until March 31, 2024 -- but exit at any time. The second-best alternative would be to allow time until March 31, 2025 for investors to exit their investments under the old indexation regime, points out Harsh Roongta.
Greece beat England for the first time as striker Vangelis Pavlidis's double earned the visitors a richly-deserved 2-1 victory.
Idan Amedi, 35, was fighting as an IDF reservist. He was airlifted to a hospital on Monday where he was sedated and received treatment.
The Supreme Court on Tuesday stayed the operation of a Delhi high court order holding as "unconstitutional" the imposition of the Integrated Goods and Services Tax (IGST) by the Centre on import of oxygen concentrators by individuals for personal use. A special bench of Justices D Y Chandrachud and M R Shah issued notice on the plea and sought response from the petitioner, who filed a PIL before the high court.
In its second blow to liquor imports, the Maharashtra government has withheld imported liquor stocks on the basis that they do not display the maximum retail price.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
One per cent TDS will apply on non-agriculture immovable property of over Rs 50 lakh on the basis of sale price or the stamp duty value, which ever is higher, after an amendment in the Income Tax Act.
Upcoming batsman Richard Levi winning the ICC's Twenty20 International Performance of the Year augurs well for the Proteas ahead of the World Twenty20 starting in Sri Lanka on Tuesday, feels Cricket South Africa.
Telecom services providers have urged the Ministry of Finance to suspend the universal service obligation (USOF) till the existing corpus is exhausted. In their Budget recommendations, they have also pressed for an exemption from the service tax on "assignment of right to use natural resources" and the slashing of Customs duty on telecom equipment to zero. The Cellular Operators Association of India (Coai), which represents private sector telecom operators Reliance Jio, Bharti Airtel, and Vodafone Idea, called for abolishment of USOF levy.
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
South African opener Richard Levi, who grabbed the headlines hitting the fastest ever century in T20 internationals, in all likelihood will be playing for Mumbai Indians (MI) in the upcoming edition of the Indian Premier League.
Punjab National Bank, Bank of Baroda, Bank of India and Canara Bank already charge their customers a levy for failing to maintain a minimum balance for a quarter or a month.
National-award winning actor, producer, hotelier, ex-politician, cricket team owner, philanthropist, highest tax payer, reality show judge, animal lover and, above all, people's hero -- Mithun Chakraborty -- who has been conferred the Dadasaheb Phalke Award -- is truly a force of nature, notes Sukanya Verma.
Finance Minister Pranab Mukherjee asked all chief ministers to reduce state levies on diesel, kerosene and cooking gas to mitigate the impact of the price hike on the common man.
The penetration levels in rural and semi urban areas can be significantly enhanced, and government can help in this mission through reduction and rationalization of levies.
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.
With production hitting a three-year low of 14.7 million tonnes in this sugar season (October to September), the government is also expected to double the levy quota for the PDS from 10 to 20 per cent to tide over shortages. The levy price and quota act as a notional benchmark for open market sugar prices, which have doubled to Rs 34 to Rs 35 a kg since last September, owing to a global shortage. The price of levy sugar is half that of the open market price.
IC 814: The Kandahar Hijack begins by asking why the hijack lasted seven days and ends in wondering if the good guys fought the bad ones hard enough, observes Sukanya Verma.
Mohammed Shami went through the toughest phase of his career in 2018 when he had to battle his way against allegations of match-fixing levied by ex-wife Hasin Jahan.
Making cash payments at bank counters to settle your credit card dues is getting expensive. Credit card issuers led by ICICI Bank and HDFC Bank have started levying a fee on such payments.
