Over the next four years corporate tax will come down by 5 per cent and lot of exemptions will get phased out.
The ruling mean FPIs cannot seek treaty protection against the new withholding tax that companies are required to deduct at source. The apex court order pertains to when the cricketing bodies of Pakistan, India, and Sri Lanka formed a joint committee to conduct the 1996 Cricket World Cup.
Finance Minister P Chidambaram on Wednesday announced that the Permanent Account Number (PAN) to be made sole identity for participants in the security markets to strengthen capital market.
The Cabinet on Wednesday approved amendments to the GST bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime.
Is the curated and limited data put out by the central government sufficient enough to pass a judgement on the trend in GST collections, particularly that of the Centre?
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
The buoyancy in the tax revenue of GST reflects the upswing in the economy and better compliance
Modi on Friday invited the Congress leaders at his Race Course Road residence at 7 PM, sources said.
Financial accounting software company Tally Solutions on Thursday launched its VAT-compliant business accounting software 'Tally 7.2', aimed specifically at the small and medium segment for changeover to the new tax regime that begins from April1.
Sacked Rajasthan minister Rajendra Gudha had claimed that the red diary which he had secured from the residence of Congress leader Dharmendra Rathore during an income tax raid in July 2020 on the directions of the chief minister had details of Gehlot's financial transactions.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
PM promised a tax regime that is predictable and competitive
An equitable tax regime makes more sense than debates over whether the rich should pay more.
As per norms, the returns have to be filed online on www.aces.gov.in.
After Multi Fiber Arrangement is phased out, the textile industry of developing economies like India will have a reason to be optimistic about the long-term growth opportunity.
The new tax regime has also been fuelling sale of SUVs, particularly the compact SUVs
A reading above 50 indicates expansion, while a score below this mark means contraction
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.
Crorepatis' income rose by a staggering 40% between 2015-2016 and 2017-2018.
GST is a landmark reform considering the sweeping changes it brings about in the indirect tax regime in India.
Know what terms like anti-profiteering, CGST, SGST, IGST means in the new regime
Nasscom president said moving from single to multiple points could be a challenge from the point of view of ease of doing business
The GST will be a national sales tax that will be levied on consumption of goods or use of services
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
Maruti Udyog Managing Director Jagdish Khattar on Wednesday said that antiquated laws, poor infrastructure and high tax regimes were preventing India from becoming a global hub for manufacturing small cars.
Till such time that a new governance framework comes into being, the progress of reforms in health, education, land, labour, electricity and agriculture could remain fraught with problems, agitations and delays, observes A K Bhattacharya.
GST making you anxious? Here is a fact-check on how new tax will impact you.
The entire operation was meant to have a chilling effect on independent journalists, those not completely subservient to the regime, the small section still doing what the Fourth Estate should do -- raising questions to those in power.
E-proceeding of tax scrutiny has certain technical and practical issues which need to be addressed before making the system fully electronically driven.
Modi told the probationers to have a 'sensitive' and 'humane' approach to the job.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
The Deutsche report said though India must move to a GST regime, the transition is likely to be disruptive for large sections of the economy and SMEs
The combined share of customs and excise duties, service tax, and value-added tax in India's gross domestic product reached an all-time high of 10.5%.
The GST, an indirect tax regime, is to be rolled out from April 2016.
The new tax regime has got a lot of investors thinking on whether they should realign their 'tax saving' investment portfolio in favour of mutual funds.
Industrial output rose to nearly three-year high of 6.4% in August.
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