As a Parliamentary panel races to submit its report on the nuclear liability bill, Bharatiya Janata Party appears to have dug its heels asking the government to clarify whether the draft legislation was India-specific or being enacted to fulfil requirements of international treaties.
Students claimed that they were attacked when they were watching the documentary on their mobile-phones as the screening could not be held.
The regulatory burden is the highest on small cars, a key segment of the Indian automobile industry and having a uniform tax structure across all segments of vehicles will not augur well for the sector growth, according to Maruti Suzuki India chairman RC Bhargava. He also said India's economic growth rate could be higher if the manufacturing sector grows fast, which 'unfortunately' has remained a laggard despite the best efforts of the Narendra Modi-led government at the Centre due to implementation gaps at the ground level. "The burden of regulatory changes on the small cars is far higher than the regulatory burden on big cars and that is changing the whole market behaviour.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Agra has long been known for the Taj Mahal, but it is also a manufacturing hub filled with micro, small and medium enterprises (MSMEs) that make everything from electronic components to metal products, from paints and chemicals to footwear. And five years after the introduction of the Goods and Services Tax (GST), the MSMEs here complain that while the indirect tax regime has been transformative, cutting out the need to file multiple taxes, its biggest drawback has been the delay in credit refunds. Whoever you speak to - MSME owners, tax lawyers, or industry bodies like the National Chambers of Industries and Commerce (NCIC), Agra Footwear Manufacturers and Exporters Chamber (AFMEC) and Agra Shoe Manufacturers Association (ASMA) - they all emphasise that the GST continues to face some key challenges.
The Central Board of Direct Taxes (CBDT) has issued detailed guidelines on facilitating tax deducted at source (TDS) on virtual digital assets (VDA) or crypto assets, under which date of transfer and mode of payment will have to be specified. From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year, as the Finance Act 2022 has introduced Section 194S in the income tax (I-T) Act. The department has explained different scenarios through six questions to remove difficulties.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
Luxury carmaker Mercedes-Benz has submitted its interim report on the fatal accident of industrialist Cyrus Mistry to the Palghar police, which mentions that the brakes of the vehicle were pressed five seconds before it crashed into the road divider, a senior official said on Friday.
Maharashtra Governor Bhagat Singh Koshyari, facing flak over his "Mumbai will have no money if the Gujaratis and Rajasthanis were to leave" remarks, on Monday apologised for the same.
Russia has welcomed India's decision to not support the price cap on Russian oil announced by G7 and its allies and offered it cooperation on leasing and building large-capacity ships to overcome the ban on insurance services and tanker chartering in the European Union and Britain to continue buying discounted oil. The offer came as Russian Deputy Prime Minister Alexander Novak held a meeting with the Indian Ambassador to Moscow, Pavan Kapoor, on Friday. "The Deputy Prime Minister welcomed India's decision not to support the price cap on Russian oil, which was imposed on December 5 by the G7 countries and their allies," the Russian foreign ministry said in a statement.
As violent protests against the new recruitment scheme Agnipath raged across several states, the government on Thursday issued a clarification, asserting that not only the new model will bring in new capabilities to the armed forces but will also open up avenues for youth in the private sector as well as help them in becoming entrepreneurs with the aid of the financial package.
'he Centre has not issued any mandate, the stand of centre is that it should be 100 per cent but it is not a mandate'
The interfaith marriage has stirred up a political storm after the bride's relatives alleged 'love jihad,' with a senior Left party leader supporting the charge, only to retract his statement later.
Seventy-two women officers from the Indian Army have issued a legal notice to the defence ministry over strict compliance with the Supreme Court order on granting permanent commission to females in the force. "The notice has been sent on behalf of 72 women officers who are fully entitled to be granted permanent commission on the basis of a clear and unambiguous order of the Supreme Court on 25 March this year," counsel of the women officers Major Sudhanshu Pandey said.
The Gujarat high court had through its orders dated August 19 and August 26, 2021 had stayed the operation of section 5 of the state government's Freedom of Religion Act of 2003.
Top government sources also said the civic polls in the state, delayed due to the OBC reservation issue being heard by the Supreme Court, are likely to be held in October after getting a clarification from the apex court.
Musharraf said on Saturday the fact that Hurriyat leaders have not come on Indian passports and Pakistani visas is a recognition by the countries of the disputed status of Kashmir.
Even as lenders are getting ready to send more companies to bankruptcy courts from this week, several old cases are still awaiting resolution with no clarity on the completion of the process. This includes some high profile cases from the first list of 40 companies including Videocon Industries, Bhushan Power and Steel and Lavasa Corporation, sent by the Reserve Bank of India (RBI) for resolution. The delay is mainly due to litigation and late clarifications by various government agencies including the Reserve Bank of India and litigation by the Enforcement Directorate.
Oravel Stays Limited, the parent company of travel-tech firm OYO, has received in-principle approval from BSE and NSE to list on the respective bourses, sources said. OYO has filed preliminary documents for a Rs 8,430 crore initial public offering (IPO). The offering will consist of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore.
Facing criticism over his remarks about deaths at riot relief camps in Muzaffarnagar, Uttar Pradesh Sports and Youth Welfare Minister Narad Rai on Sunday said death cannot be averted and people died at the camp despite all arrangements by the government.
Apparently eyeing a larger role in Maharashtra politics, Raj Thackeray-led Maharashtra Navnirman Sena is now making attempts to shed its "anti-North Indian" image by reaching out to the community, which accounts for sizeable number of voters in the state.
Reacting to Musk's letter, Twitter's board chair Bret Taylor said on Saturday that they will file a lawsuit against the Tesla chief to 'force him to buy the social media company on the agreed terms'.
The National Commission for Women has summoned Udit Raj over his "sycophancy" remark against the president.
The central government's clarification on the 2 per cent equalisation levy on foreign digital operators in the Budget, which considerably expands the scope of the levy, might be challenged in court, with several companies contemplating filing a writ petition in the coming few weeks. The writs might be filed on the grounds of the levy's alleged extra-territorial overreach, as it aims to cover those entities that do not have a physical presence in India, going against international taxation rules.
The government has tweaked the income tax laws to make it easier for the new owners of loss-making public sector undertakings (PSUs) to carry forward the accumulated losses and set them off against future profits. This will result in significant tax savings for the new owners if they are able to turnaround operations of the ailing PSU within a few years. This will, in turn, boost the post-tax earnings and returns for the new owners.
Media company New Delhi Television (NDTV) recorded its highest-ever consolidated profit at the group level in over a decade for financial year 2021-22 (FY22), said co-chairpersons Radhika Roy and Prannoy Roy in the firm's latest annual report. Addressing shareholders, the Roys, founder-promoters of NDTV, said the company had emerged financially strong in FY22, continuing the turnaround of recent years. "Both the television and digital branches of the NDTV group reported their highest-ever profit. NDTV Ltd (television arm) recorded a profit of Rs 59.18 crore.
As the petition points out, new medical colleges entail adjunct government hospitals, thus making specialised medical care that much more accessible to the vast majority of population that otherwise could not afford high-cost medical care in the private sector, N Sathiya Moorthy points out.
The Centre told the Supreme Court on Monday that religious freedom does not include a fundamental right to convert other people to a particular religion and that it certainly does not embrace the right to convert an individual through fraud, deception, coercion or allurement.
Several FIRs were lodged against Devgan for using a derogatory term for the Sufi saint in the news debate show called '"Aar Paar'" on his channel on June 15.
Masoodi said all the participants are against giving voting rights to non-locals as "it will be tantamount to the disenfranchisement of the local voters."
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
In a video apparently of a speech made to his supporters, Mishra dismissed allegations levelled against him.
The Centre on Monday told the Delhi high court that WhatsApp's new privacy policy, which is scheduled to come into effect from May 15, was being being examined at the highest level and they were seeking some clarification from the instant messaging platform on the issue.
Police said it has been found during preliminary investigation that a woman student, a hosteller, had shared her own video with a youth from Himachal Pradesh whose role is also under the scanner.
The government on Monday clarified that transactions involving royalty/ technical services fee would be taxable under income-tax and not be liable for equalisation levy that is paid by foreign companies for conducting business with Indian parties, while explaining what would construe online sale of goods or services.
Union Finance Minister Nirmala Sitharaman on Tuesday said the mass consumption items such as pulses, wheat, rice, flour, and curd will not attract the 5 per cent goods and services tax (GST) when sold loose, and not pre-packed or pre-labelled. The clarification came amid protests and widespread criticism by Opposition Members of Parliament over foisting GST on daily-use essentials and subsequent price rise. The all-powerful GST Council, chaired by the Union minister, had last month decided to impose GST on some mass consumption items to simplify the rate structure, which came into effect on Monday.
Raising the issue during Zero Hour, Gandhi demanded immediate withdrawal of the objectionable question and a review into the 'gravest lapse'.
With a Karnataka minister's alleged remarks that the 'government is not functioning, we are somehow managing' causing embarrassment to his administration, Chief Minister Basavaraj Bommai on Tuesday tried to do damage control by stating that the comments were made in a 'different context'.
