The state's revenue receipts might not afford various freebies announced by the parties, unless revenue deficit and hence fiscal deficit is widened.
It will also be new Revenue Secretary Sanjay Malhotra's first GST Council meeting. He will take charge after the incumbent Tarun Bajaj retires on November 30.
At least two persons were killed and four others injured in West Bengal's Jalpaiguri district as a mortar shell, reportedly carried by the floodwaters of Teesta river, exploded, police said on Friday.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
Income Tax officials plan strikes, stoppage of searches and surveys if their demands on vacant positions, infra aren't met.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
Air India has recorded 19.5 per cent rise in sales revenue in the Gulf-India route in the past three months, a senior official of the Indian national carrier said.
An improvement in the wind speed November 21 onwards might bring air pollution levels down.
The ongoing second quarter earnings, movement of oil benchmark Brent crude and the uncertainty in the Middle East would dictate terms in the domestic markets this week, analysts said. Furthermore, the activities of Foreign Institutional Investors (FIIs) will also influence trading in the markets. "A slew of earnings reports from heavyweights expected this week will significantly impact market direction.
Overhaul of the goods and services tax (GST) structure, including possible changes in the tax slabs, may now be taken up only after the 2024 Lok Sabha elections, given the number of states that are going to the polls in its run-up. "No major overhaul of tax rates is expected in GST until the end of next fiscal year. One major reason for this is that some members of the group of ministers (GoM) - mandated to look at rate rationalisation by the GST Council - are from poll-bound states. Later, this may lead to reconstitution of the panel," a senior government official told Business Standard. Besides, both the Centre and states are not in favour of frequent changes in the tax rates amid inflationary uncertainties; they believe any major change should be brought in after extensive deliberations, according to the official.
The Union government's revenue from securities transaction tax (STT) is on track to exceed its Budget projection for the current fiscal year, with the mop-up already surpassing 50 per cent of the annual estimate. Provisional figures reveal that the Centre has collected approximately Rs 14,000 crore in the first half of this fiscal year up to September, according to a government official. This amount exceeds half of the full-year target of Rs 27,625 crore set for FY24.
Activist Manoj Jarange on Monday said he will set out on a tour of Maharashtra after the Diwali festival to meet Marathas and make them aware about the issue of reservation for the community.
'The greater the delay, the more the likelihood of crucial evidence being destroyed.'
The orders designated all revenue tehsildars and naib tehsildars to authenticate computer-generated copies of revenue record.
Two years ago, India was touted as a rare bright spot in a gloomy global economy with GDP growth outpacing a slowing China.
India's Ambassador at the World Trade Organisation K M Chandrashekar is all set to become the new revenue secretary and special secretary S N Menon will become the new commerce secretary.
Militants also abducted four people.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
He said over 30 people were detained for questioning during searches in 30 Rohingya settlements in Jammu city.
Pulkit Arya is the son of Vinod Arya, a BJP leader from Haridwar.
Two local leaders were arrested for allegedly inciting violence during the eviction drive at Sipajhar in Assam's Darrang district on September 23 in which two persons, including a 12-year-old boy, were killed in police firing and over 20 injured, an official said.
With this, a total of 42 individuals and seven firms have so far been chargesheeted in the case which was initially registered by the Directorate of Revenue Intelligence, Gandhidham unit, Gujarat, on September 13, 2021.
The anti-encroachment drive by Jammu and Kashmir administration intensified on Saturday as the land illegally occupied by 'influential persons' was retrieved at many places in the valley, officials said.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The CBI recently filed an FIR against Wankhede for allegedly seeking Rs 25 crore bribe for not framing the SRK's son Aryan Khan in the drugs-on-cruise case.
The government managed to raise revenues by sending notices to high net individuals to did not file I-T returns last year.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
Riding on a buoyant economy and better tax compliance, gross tax revenue collections are likely to surpass the Rs 6,00,000 crore (Rs 6000 billion) mark in 2007-08. In other words, tax revenue is expected to double compared with Rs 3,04,958 crore (Rs 3049.58 billion) in 2004-05.
Cyclone Biparjoy made landfall near Jakhau Port in Gujarat on Thursday evening with a wind speed of 115-125 kmph gusting to 140 kmph as heavy rains lashed the coastal region, where several areas plunged into darkness due to power cuts and a large number of trees, electric poles and hoardings got uprooted.
It would be ludicrous to expect Modi, Erdogan or Biden to pay to keep blue ticks on their respective official accounts. It would be equally ludicrous to expect the Delhi Metro or the Income Tax Department to pay, points out Devangshu Datta.
The central government's fiscal deficit touched 67.8 per cent of the full-year target at the end of January due to higher expenses and lower revenue realisations, according to official data released on Tuesday. In actual terms, the fiscal deficit or gap between the expenditure and revenue collection during April-January period stood at Rs 11.9 lakh crore, as per the data from the Controller General of Accounts (CGA). The fiscal deficit in the comparable period of 2021-22 was 58.9 per cent of that year's Revised Estimate (RE) in the Budget.
Multi-Screen Media (MSM), which runs the league's official broadcaster, SET Max, is likely to see a nearly 30 per cent drop in ad revenues this season, given the hard bargains most companies have driven.
According to the state government, 60,000 tourists have so far been evacuated from the hill state.
The high court further asked the Delhi Development Authority to state its stand on a batch of petitions challenging the action and also seeking a bar on the demolition till a fresh "demarcation report" is prepared.
Mumbai, which adds 37 per cent to the total direct tax mop-up, has reported tax collection of Rs 4.93 trillion so far, against the full-year target of Rs 5.35 trillion.
The point made by sociologist M N Srinivas, that it represented a Sanskritic act that was linked to caste, is never raised in Indian debates and the disapproval of drink is almost universal, notes Aakar Patel.
In yet another instance of his confrontation with the Dravida Munnetra Kazhagam dispensation in Tamil Nadu, Governor R N Ravi on Monday concluded his customary address to the House within a few minutes, making certain remarks over the content of the address that were 'expunged'.
Though the legislator of Rupohihat, Nurul Huda, stopped the drive in Sitalmari area of Burachapori Wildlife Sanctuary for a while claiming it was illegal, the exercise resumed later, a senior official said.
