Facing an acute shortage of COVID-19 vaccines, the Odisha government on Monday decided to float a global tender for procuring the vaccine to inoculate the states entire population, Chief Secretary S C Mohapatra said.
In his second term in office, UP Chief Minister Yogi Adityanath has retained 34 portfolios.
For 2011-12, there were 7,56,741 foreign remittances made from India with money worth Rs 3,56,461 crore (Rs 3,564.61 billion) going out of India
I-T dept launches Tatkal system for those who desire to help the victims of the earthquake in Nepal.
US State Department's report said that this has resulted in many investors retreating slightly from their once forward-leaning support of the BJP-led government
There is no official confirmation to reports that the IPS officer was caught red-handed by his wife of 32 years at a woman's house, after which he assaulted her.
Outlay for infra is also expected to see a significant increase in view of the government's Rs 111-trillion investment plan under the national infrastructure pipeline to develop social and economic infrastructure over five years.
The guidelines, which have made service charge "totally voluntary and not mandatory", will be sent to states for necessary action
The Parthasarathy Shome committee gives its second reform report to finance ministry.
FATCA will facilitate flow of financial information between countries.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
Cos can apply for PAN card number online through e-Biz portal.
With Goods and Services Tax (GST) officers under pressure to exceed the Rs 1-trillion collection mark per month, industry has faced a barrage of recovery notices and summons issued over the last one month across sectors, according to company executives. Industry bodies have claimed harassment by field officers, blocking of input tax credit, cancellation of GST registration, threats of arrest and steep penalties, impacting their working capital and operations. Company executives pointed at an atmosphere of apprehension and fear due to such notices and summons.
MakeMyTrip filed its objections before the Commissioner of Income Tax (Appeals) on May 30.
While the virus out there meddling big-time with our lives, danger is lurking in our email boxes too.
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.
The ED case has been booked under the Prevention of Money Laundering Act (PMLA) and the agency will record the statement of the accused. The central agency will investigate if proceeds of crime were generated by the accused by laundering of funds that were earned through the alleged gold smuggling racket.
Also on the anvil is abolition of distinction between Plan and non-Plan expenditure and replacing it with capital and revenue expenditure
This time, the global appetite for risk is in favour of India.
It said the sleuths have recovered Rs 14.6 crore of "unaccounted" cash and seized diaries and computer files of suspect payments made between Madhya Pradesh and Delhi.
Marking the end of strict banking secrecy practices, Switzerland earlier this month agreed to automatic exchange of information and mutual administrative assistance in tax matters with overseas authorities.
Clarifies 'profit-split' will not be only method to compute tax
Initially it will procure only e-rickshaws and e-autos for leasing to operators
The Supreme Court collegium headed by Chief Justice D Y Chandrachud has recommended the names of three advocates for appointment as judges of the Bombay high court.
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.
Department of financial services secretary Sanjay Malhotra held a meeting with heads of PSBs, insurance companies and financial institutions for identifying ways to support Agniveers on completion of their tenure of duty.
Capital markets regulator, I-T department suspect tax evasion and market manipulation
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
As per the Economic Survey for 2013-14, India's gross domestic product growth rate will improve to 5.4-5.9 per cent in the current fiscal after remaining at sub-5 per cent level for past two years.
The 0.5 per cent Krishi Kalyan Cess (KKC) on all services increases the total tax chargeable on services to 15 per cent, making it expensive to dine out or travel.
While the tax holiday for the factory coming to an end might be a factor, many say the business model of Microsoft (which acquired Nokia's handset division last year), as well as freebies offered by the Vietnamese government, might also have played a role.
The new ITR forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or exemptions.
Sectors throw up a wishlist for the Finance Minister.
Asserting that his government will implement the five poll 'guarantees' promised ahead of the assembly polls, Karnataka Chief Minister Siddaramaiah on Wednesday said officials have shared their inputs on financial implications, and the cabinet will meet on June 2 to decide on the implementation.
According to the EPFO estimates, there would be a surplus of Rs 151.67 crore after providing 8.65 per cent rate of interest for 2018-19 on EPF.
Peeved over the silence of leaders of separatist groups, their factions in Pakistan and in occupied-Kashmir are making desperate attempts to foment trouble in Jammu and Kashmir by giving calls from across the border for 'bandhs' and strikes to mark the death anniversary of Mirwaiz Farooq and Abdul Gani Lone, officials said.
The government on Monday asked online food business operators like Swiggy and Zomato to submit a proposal within 15 days on improving their consumer grievance redressal mechanism amid rising complaints from customers. The department of consumer affairs directed e-commerce FBOs "to transparently show consumers the breakup of all charges included in the order amount such as delivery charges, packaging charges, taxes, surge pricing etc." According to an official statement, "The Department of Consumer Affairs has directed major e-commerce Food Business Operators (FBOs) to furnish the current framework as well as a proposal on improving the consumer grievance redressal mechanism within 15 days."
Sushil Chandra will conduct the UP, Punjab, Goa, Manipur, Uttarakhand elections before he retires in May 2022.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
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