State-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum are likely to lose Rs 45,478 crore (Rs 454.78 billion) this fiscal on selling fuel below cost, Petroleum Minister Murli Deora said.
'As regard to specific reference to high net worth individual, the moment we finish the 75th anniversary of India's independence, we shall review and take a call,' Finance Minister Nirmala Sitharaman said.
Govt may tighten presumptive taxation norms and also do away with some deductions.
The Centre managed to collect only Rs 990 crore as compensation cess in April 2020-21, almost one-ninth of the figure of Rs 8,874 crore mopped up a year ago. The subdued collection would further increase states' problems unless the GST Council, which meets next week, decides to borrow from the market.
Those who have been handed the pink slip shouldn't make too many loan queries, advises Raj Khosla.
Taxmen are opposing proposals to cut personal income and corporate tax and scrap taxes on various transactions.
The standoff ended after talks between the two sides late on Saturday
Sports Minister V Abdurahiman said 20 deaths were confirmed on the basis of information from various hospitals where those pulled out from the water and inside the boat were admitted.
Some also demanded empowering of local bodies.
The FIR was lodged against food inspector Rajesh Vishwas, Sub-Divisional Officer of Pakhanjore RL Dhivar and Sub-Engineer Chhotelal Dhruv, both from the water resources department, at the Pakhanjore police station based on a complaint of nayab tehsildar (revenue official) of the area, a police official said.
The officials said Pakistani intelligence operatives have adopted the modus operandi of investing in illegal call exchanges that switch Voice over Internet Protocol (VoIP) calls to normal Indian mobile calls.
'Airlines will need a war chest to deal with post-COVID economics.'
Hit by the recent government diktats on banning smoking in public places, cigarette manufacturing firms are putting up a brave front and are gearing up to cope with the revenue loss. While companies like Godfrey Phillips have put up 'no-smoking' posters in their offices and removed ash-trays, lighters from their premises, others like ITC and the Indian Hotel Association have sought relief from the Supreme Court.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
The Central government is certain that the country will meet the wheat production target for 2008-09., inspite of the hailstorms that destroyed standing crops. According to data provided by officials, wheat crops in around 100,000 hectares of land have been damaged in Haryana itself after the recent hailstorms. The exact loss was being assessed and a special revenue assessment will be ordered later. But govt said wheat production estimate remains unchanged at 74.81 mn tonnes.
India could lose out on hosting the 2021 Champions Trophy if the government doesn't allow tax exemption on the event.
The cess collected on cars as also tobacco and coal will be used to compensate the revenue loss of states by implementing GST.
With states agreeing to implement value-added tax from April, government on Monday pegged two rates of 10 and 12.5 per cent, while assuring full compensation for any revenue loss in the first year.
Vodafone Idea (Vi) lost 12.4 million subscribers in the first quarter of FY22, the most since the fourth quarter of FY20, as the second wave of Covid hurt its operational and financial performance. Vi had managed to trim subscriber losses in the third and fourth quarters of FY21. However, it lost 12.4 million subscribers and its customer base shrunk to 255.4 million in the first quarter of FY22. Sequential fall in 4G users was modest, indicating that most of the loss was in the low-margin 2G segment.
Any residual amount left in the Compensation Fund after five year compensation period shall be shared equally between the Centre and the states.
Food aggregator platform Zomato has discontinued its 10-minute delivery offering, Zomato Instant, as the business has struggled to grow and faces challenges in turning profitable, media reports said. The company has denied these claims, stating that the business is just being rebranded. This comes as the company's CEO Deepinder Goyal announced 800 job vacancies across 5 roles via a Linkedin post.
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