The revenue will accrue to the government as the organisations will be required to deduct tax at source while making payments to players, umpires, coaches, commentators and others involved with the tournament.
Shivakumar has got the all-important Major and Medium Irrigation and Bengaluru City Development, including the Bruhat Bengaluru Mahanagara Palike (BBMP), Bangalore Development Authority, Bangalore Water Supply and Sewerage Board, Bangalore Metropolitan Region Development Authority and the Bangalore Metro Rail Corporation Limited.
In its mid-year analysis presented in Parliament earlier this week, the Finance Ministry had said that there were concerns about overheating of the economy in the midst surge in capital flows.
The Minister assured that the I-T department would take a benign view of assessees volunteering to file returns and clear their dues and interest.
The California-headquartered company has not only seen more Indians coming to its platform, it has also seen engagement and conversation on various subjects going up manifold.
An improvement in the wind speed November 21 onwards might bring air pollution levels down.
Revenue minister Narayan Rane lifted a stay on an earlier order of the government.
The development comes after the resignation of Manish Sisodia and Satyendar Jain, the key faces of the city government and were instrumental in steering the national capital through the COVID-19 crisis.
The central government has for the first time allowed a private company, Bajaj Healthcare, to process opium to extract alkaloids used to make pain-killers, cough syrups, and even cancer drugs. Two government factories in Ghazipur, Uttar Pradesh, and Neemuch, Madhya Pradesh, do the work yet, processing some 800 tonnes of opium gum annually to extract alkaloids. The government on Tuesday gave Thane-based Bajaj Healthcare an initial contract to process 500 tonnes of opium gum annually and wants production to be at 800 tonnes per annum (tpa) in the next five years, indicating the state's exit from the highly-regulated sector.
The department had recently sent a tax reminder notice to the British telecom major.
The erstwhile Bahujan Samaj Party government's decision to transfer over 500 acres of land to the Noida Authority in 2009 has resulted in a whopping Rs 2,600 crore loss to the state exchequer, the Comptroller General of India has pointed out.
The commercial exploitation will partially fund the Rs 5,300 crore Mumbai Urban Transport Project-II which envisages improvement in the suburban rail transport system.
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The minister was speaking at a review meeting of Principal Chief Commissioners, Principal Directors General, Chief Commissioners of I-T in New Delhi on Thursday in order to assess the revenue collection target for 2014-15 fiscal.
The gross tax revenues have touched 65 per cent of the Budget estimates at Rs 17.81 lakh crore during the first eight months of the current fiscal till November, propelled by corporate and personal income tax mop-up, according to the Economic Survey 2022-23 presented in Parliament on Tuesday. The survey, authored by Chief Economic Advisor V Anantha Nageswaran, said the 'substantial reforms' in India's taxation ecosystem post-2014 and policy reforms have removed the distortionary incentives from the economy. Reforms like GST, reduction in corporate taxes, exemption of sovereign wealth funds and pension funds from taxes, and removing Dividend Distribution tax have reduced the tax burden on individuals and businesses.
Kingfisher Airlines, which emerged out of an impasse over salary payment to its staff, is likely to face more trouble soon with the Revenue Department deciding to move the Supreme Court to expedite recovery of about Rs 330 crore dues.
Rebel Himachal Pradesh Congress MLA Rajinder Rana on Saturday claimed that nine more party legislators 'feeling suffocated' due to Sukhvinder Singh Sukhu's style of functioning are in touch with him as he called the chief minister 'liar number one'.
The apex court has settled the long-pending dispute between companies such as Samsung, IBM, HP & others and the tax department.
The government has already sanctioned Rs 4,200 crore for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
Among the current FTAs with significant trade deficits for India, five are with countries from the 10-nation Asean bloc. Exports to the 10 economies stood at $ 37.4 billion in 2018-19, up by 9% year on year. On the other hand, imports were higher at $ 59.31 billion, up by 25% from the previous year's $ 47.13 billion.
The Enforcement Directorate on Wednesday told a Delhi court the investigation in the money laundering probe against Aam Aadmi Party leader Manish Sisodia in the alleged excise scam is at a "crucial' stage and it has found fresh evidence of his complicity.
Revenue Secretary Sunil Mitra admits tax collection target for 2011-12 is ambitious but achievable.
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
Karnataka Chief Minister Basavaraj Bommai on Monday said that he will ask his Maharashtra counterpart Eknath Shinde not to send his ministers to Belagavi, amid the raging border dispute between both the state, as it may disrupt the law and order situation in the border district.
The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
In its drive against tax evasion, the finance ministry is planning to add to the list of high-value transactions required to be reported to the revenue department in annual information returns (AIRs).
There have been demands from bankers and insurers to hike the tax exemption limit from Rs 100,000 per annum to encourage household savings.
Thanks to an ambiguous law on the import of platinum alloys, some bullion importers are making big profits. A handful of them are importing refined gold cloaked as platinum alloy. Gold attracts 15 per cent import duty, as opposed to platinum alloy that invites a duty of 10.75 per cent. Industry sources say this is a case of mis-declaration and duty violation.
There will be a blanket ban on the production, sale and use of all types of firecrackers in the national capital, including on Diwali, till January 1, 2023, Environment Minister Gopal Rai said on Wednesday.
To take the 'Idea to Enterprise' journey, you need to be open about your idea and articulate it to potential customers, existing entrepreneurs, experts in your industry and well-wishers.
The list of drought-hit taluks will be notified, following Chief Minister Siddaramaiah's approval.
Three months have passed, but the Maharashtra government has not been able to finalise its report on the results of the September 22 referendum it had organised in 22 villages of Raigad district that form part of the 10,000-hectare Mumbai Special Economic Zone developed by Jai Corp, a company promoted by Reliance Industries chairman Mukesh Ambani's close associate Anand Jain.
IT services firm HCL Technologies on Friday reported a 16.7 per cent increase in net profit at Rs 2,014 crore for the quarter ended September 2016.
The form will be redesigned in such a way that investors could fill up most of the details themselves
'Advertising this season will help IPL surpass $550 million in ad revenues, across digital and pay TV.' 'It should still represent a steep loss against annualised 2023-2027 IPL rights fees of $1.2 billion.'
The case relates to RTI applicant S P Manchanda, who sought to know from the revenue department of Delhi government the registration details of a property traded by him in 2000 but was informed that they do not maintain the property-wise list.
Maharashtra Chief Minister Ashok Chavan, whose name has been linked to a property scam related to the Adarsh Society in Colaba, Mumbai, attempted to clarify his stand on Friday.
The next spectrum auction will be held in late February 2024 and the reserve price for most bands will remain the same as the 2022 auction, department of telecommunications (DoT) officials have said. The government expects operators to go for low bands beginning in 600 megahertz (MHz), licences for many of which are lapsing soon. Back in September 2021, the government had decided that spectrum auctions should be held annually.
