rediffGURU Samkit Maniar answers readers' personal income tax queries.
Students can be imposed a penalty of Rs 20,000 for holding dharnas and face admission cancellation or a fine of up to Rs 30,000 for resorting to violence at Jawaharlal Nehru University, its latest rules stipulate.
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.
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.
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.
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.
They said the Left party is consulting its lawyers to challenge the notice of the tax authorities.
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.
According to sources in the aviation ministry, only State-owned Air India and private carrier AirAsia India have agreed to pay the surcharge.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
The Supreme Court imposed a green tax on trucks destined for other states but wanting to take a shorter route through Delhi.
Here is what your favourite celebrities have been upto.
Not filing an ITR or paying the tax dues on the deceased's behalf can lead to penal consequences.
Adding petrol and diesel to GST was a challenging task due to their significant role as revenue generators for both the central and state governments.
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.
Idan Amedi, 35, was fighting as an IDF reservist. He was airlifted to a hospital on Monday where he was sedated and received treatment.
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.
Rajeev Ram and partner Harel Levy of Israel set up a showdown with Cypriot star Marcos Baghdatis and Marc Gicquel at the Chennai Open.
The BSE faces a larger outgo after regulatory clarity on the fee to be paid to the Securities and Exchange Board of India (Sebi) as a turnover charge on options volume. The market regulator on Friday directed the exchange to pay a regulatory fee on the 'notional value' of annual turnover.
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.
With this latest notice, the Income Tax department has raised a total demand of Rs 3,567 crore from the Congress.
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
Telecom operators pay 30 per cent of their revenue as levies like annual licence fee, spectrum charges, contribution to universal service obligation fund and the total burden adds up to 40 per cent along with service tax.
If sources are to be believed the Khiladi is all set to become the brand ambassador of Levi's Jeans, a rather interesting tidbit given the fact that the brand is usually associated with the youth.
China is contemplating levying carbon tax and raise the prices of petroleum for the next five years as an incentive to cut greenhouse gas emissions and help realise green targets, an expert said on Monday.
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.
To increase the adoption of credit on United Payments Interface (UPI), National Payments Corporation of India (NPCI) is looking at an interchange fee for transactions lower than that for a credit-card transaction. Sources in the know said these charges could be 1-1.2 per cent. Fintech participants concur with the view that the interchange fee is expected to be lower than that for a credit-card transaction.
Levi Strauss, which has just completed 15 years in the country is on a high, cornering 40 per cent share in the Rs 2,000-crore (Rs 20 billion) branded denim market in India.
NEET is a court-ordered examination, supposedly aimed at meritocracy. However, over the past years when the incumbent Narendra Modi government at the Centre began implementing it, it took on political and casteist colours, observes N Sathiya Moorthy.
Under the agreement, customers who purchase merchandise worth a certain minimum amount from Levi's stores using the credit card of partner banks, can convert the transaction to an EMI scheme, a press release said.
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
# Richard Levi (50 off 35 balls) has posted his first fifty in the IPL -- his seventh in Twenty20.
Airfares are set to rise with the government deciding to levy up to Rs 8,500 per flight on major routes to fund the regional air connectivity scheme.
An earthquake of magnitude 4.8 struck 7 km north-northeast of Whitehouse Station, New Jersey, on Friday, the United States Geological Survey (USGS) reported.
'It is a fiercely fought battle, like our fiery chillies in Guntur.'
The finance minister also provided some relief to readymade garment manufacturers by raising the abatement available for levy of taxes on retail price of some branded garments and textile made-ups.
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