The government has set a total revenue target of Rs 40,874.5 crore (Rs 408.74 billion) this fiscal from spectrum, including auction amount, one-time spectrum charge and annual regular licence fee.
CM Stalin has a procedural problem. Nominating new ministers would entail his having to seek formal permission from governor R N Ravi. Stalin does not want to interact with the person of this governor, as far as possible, predicts N Sathiya Moorthy.
The government on Tuesday said around 49 lakh cases of income tax refunds are pending with the revenue department.
Sharma said 2,500 tankers that supply potable and non-potable water across Mumbai have been on strike since February 8 and it's a do-or-die situation for them.
The chiefs of the central agencies currently have a two-year tenure.
The real estate sector in Maharashtra foresees a loss of Rs 2,000 crore (Rs 20 billion) due to the ban on extraction of sand by the Bombay High Court. The realty industry has sought the intervention of the state government to tackle the crisis.
A revenue department official said against 4,500 sand spots across the state, only 1,300 which had been cleared by the respective gram panchayats are available for auction.
Delhi ministers Manish Sisodia and Satyendar Jain on Tuesday resigned from the Cabinet, amid corruption allegations against them.
Power Minister A K Sharma blamed the 72-hour strike that began at 10 pm on Thursday on some 'irresponsible' leaders of the electricity department and said it was not in the interest of the employees.
The step has been taken in view of the high density of population in Mumbai where there is more possibility of spread of the disease compared to other districts.
In a daring attack, two LTTE aircrafts tonight carried out strikes in the heart of Colombo dropping bombs near the Army Headquarters ground and on a government building in the high security zone. At least 28 people have been injured, news reports indicate.
The drive met with opposition in Tinsukia in upper Assam leading to lathicharge by the security forces, while in Sonitpur the alleged illegal settlers claimed that it was launched about a week before the stipulated date.
Union Home Minister Amit Shah said on Friday security in the ocean needs to be strengthened as most of the narcotic drugs are shipped in Pakistan and go via Iran to Sri Lanka and Africa.
In 2019-20 Budget, the government had increased surcharge from 15 per cent to 25 per cent on those with taxable income between Rs 2-5 crore and from 15 per cent to 37 per cent for income above Rs 5 crore. Following the increase, the effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent and for those above Rs 5 crore it would go up to 42.7 per cent.
More than 87 per cent of the spectrum has been allocated to bidders.
In a most perverse example of tax bullying, someone I know has got by three such notices reopening his assessment minutes before the midnight deadline of June 30, reveals Debashis Basu.
The Income Tax department Wednesday conducted searches at the premises of Bengaluru-based pharmaceutical company Micro Labs Ltd, the manufacturers of Dolo-650 tablet that was widely used by COVID-19 patients during the last over two years, on charges of alleged tax evasion. Officials said the department is looking at financial documents, balance sheets and business distributor networks of the company as part of the searches. The PTI has sent queries on the action to the company and a response is awaited.
The government would fall short of its target for direct tax collections for the second consecutive year, with the revenue department estimating its direct tax receipts at Rs 3,70,000 crore (Rs 3700 billion) for 2009-10.
Farmers say they are paid lesser by Rs 110 per sq meter for road project. A day before the announcement of Nano project at Northcote farm in Chharodi village in Gujarat, the Ahmedabad district collector along with revenue department officials had assured the farmers that they would be duly compensated for the amount of land they given for four lane road project.
The reason for the largesse, a first in the revenue department, is on account of direct and indirect tax collections exceeding the target (Budget estimate) for 2006-07. Total revenue collections stood at Rs 470,987 crore (Rs 4,709.87 billion) for the year, against the targeted Rs 439,952 crore (Rs 4399.52 billion).
The issue dates back many years when the actor and others proposed bringing Sony TV channel to India.
As the low-pressure area in the south-eastern Arabian Sea intensified into a severe depression on Friday, heavy rains lashed many parts of Kerala and huge tidal waves started hitting low-lying coastal areas.
According to sources familiar with the development, Sebi has decided to make references to the Ministry of Corporate Affairs and the Department of Revenue, citing violations of the Acts these bodies govern.
In a reversal of its two-year-old decision to avoid from the purview of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, the finance ministry, which administers the Act, has once again proposed compulsory registration of all medicine manufacturers and dealers that handle drugs that contain narcotic and psychotropic substances before the Central Bureau of Narcotics (CBN). CBN comes under the revenue department of the ministry.
The petition, filed through advocate Rizwan Merchant, claimed that after concluding the investigation in the case, a draft complaint was prepared by the department legal advisor, where charges were proposed against Aryan Khan among others.
In another instance of Indian tax authorities adopting a hard-nosed stance to prevent abuse of tax avoidance treaties, the revenue department recently opposed a proposal of a Cyprus-based company to increase its stake in an Indian telecom services company from 40 per cent to nearly 74 per cent.
Nineteen people have been killed in rain-related incidents in Uttar Pradesh in the past 24 hours, the state relief commissioner's office said Monday evening.
A sudden drop in atmospheric temperature and small earthquakes convinced seismologists to alert Assam government for a major earthquake in the near future.
The Muslim leadership striving for the recovery of the encroached Waqf property in Andhra Pradesh achieved a major success on Wednesday as the Andhra Pradesh Chief Minister Y S Rajasekhara Reddy returned 50 acres of prime land to the state Waqf board.
The revenue department is expected to release two circulars mentioning details of all 100 services under the service tax net and related procedures in a simplified manner by mid-June.
Companies are required to pay three-fourth of their annual tax liability in three instalments, by June 15, September 15 and December 15, depending on their annual profit projections. Advance tax payout is seen as a leading indicator of the performance of the company as it is based on its estimate of profit for the full year.
McMahon was being investigated by the board for agreements to pay $12 million over the past 16 years to suppress allegations of sexual misconduct
The finance ministry on Friday withdrew expenditure curbs on various departments and ministries imposed in June in the wake of the COVID-19 second wave, reflecting improvement in public finances and the urgency to step up growth.
The comments come at a time when the Supreme Court-constituted Special Investigation Team has detected funds worth about Rs 4,479 crore (Rs 44.79 billion) held by Indians in a Swiss branch of HSBC bank, while unaccounted wealth totalling Rs 14,958 crore (Rs 149.58 billion) have been traced within home.
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