Even with the Rs 20,000 crore distributed among states, it will still be a fraction of what they have been demanding in financial support and clearance of pending dues.
The commercial exploitation will partially fund the Rs 5,300 crore Mumbai Urban Transport Project-II which envisages improvement in the suburban rail transport system.
In 2019-20 Budget, the government had increased surcharge from 15 per cent to 25 per cent on those with taxable income between Rs 2-5 crore and from 15 per cent to 37 per cent for income above Rs 5 crore. Following the increase, the effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent and for those above Rs 5 crore it would go up to 42.7 per cent.
During a series of hectic talks between Cairn Energy and the Indian government over the $1.2-billion arbitration award in favour of the former last week, a slew of options was proposed by the two sides, including computation of capital gains and participation in the Vivad se Vishwas (VsV) dispute resolution scheme. The government is likely to go ahead and appeal against the arbitration award by a Permanent Court of Arbitration at The Hague before March 21, indicated finance ministry officials. Cairn Energy Plc on Sunday said it was hopeful that an acceptable solution to its tax dispute with the Indian government could be found to avoid prolonging and exacerbating the 'negative issue' for all parties.
G C Murmu rarely speaks in public and when he does, his statements are always in lockstep with the thinking within this government.
It shows that states would require a compensation to the tune of at least Rs 1.67 trillion in 2024-25, as none of them would be able to achieve a 14 per cent growth every year.
India's tax officials, long the scourge of foreign investors, are under government pressure to avoid aggressive claims against overseas funds.
The form will be redesigned in such a way that investors could fill up most of the details themselves
DRI seized contraband worth Rs 504.39 crore.
The Election Commission has deployed 36 observers for monitoring the flow of illegal cash and other inducements during the upcoming assembly polls in Meghalaya, Nagaland and Tripura. The officials have been deputed by the Central Board of Direct Taxes (Income Tax department) and Central Board of Excise and Customs (Customs and Excise department) and will act as Election Expenditure Observers, a senior Revenue department official said.
The boy was born through a C-section on June 16 at Sonam Nurboo Memorial Hospital in Leh and 30-year-old Dorjey Palmo found out that her baby was unable to suckle when she tried to feed him. The baby underwent a complex life-saving surgery recently at a private hospital New Delhi.
The I-T department had issued re-assessment notice in March 2015 to the media group after noting that Rs 642 crore has allegedly not been computed for the tax assessment purposes of NDTV for financial year 2007-2008.
After taking charge, P Chidambaram promised fine-tuning of policies and place a stable tax regime.
The survey will benefit a population of at least 35,000, mainly tribals, to get patta (title deed) for the land they were possessing.
Worried over those under home quarantine going out and mingling with others, the Karnataka government wants them to confirm their location through selfies.
According to an official, two fresh deaths have been reported in Cuttack and Khurda districts of the state.
Gurgaon administration has attached around 100 acre land "illegally" occupied by singer Daler Mehndi for his farm house at Sohna, about 15 km from Gurgaon.
May adopt dtrict action including prosecution and property attachment.
Around 73,388 people have defaulted aggregating to Rs 3,859 crore.
Guntur district collector has issued a notice to mother of Rohit Vemula, the University of Hyderabad research scholar who committed suicide in January last, asking her to prove she belonged to the Scheduled Caste.
Concerned over rising incidents of tax evasion, a Parliamentary Committee on Thursday asked the government to keep a close watch on high spending individuals and also take steps to reduce tax arrears.
The government has slapped a notice of Rs 5 crore demand on trusts run by Ramdev in connection with alleged service tax evasion while organising their yoga camps.
An ordinance to protect Hindu temples and manage their affairs across Kashmir Valley is in the offing.
The Minister assured that the I-T department would take a benign view of assessees volunteering to file returns and clear their dues and interest.
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
The department had recently sent a tax reminder notice to the British telecom major.
A positive list for taxation of services might be back, though only for accounting purposes.
SVAMITVA is a new government project that primarily aims to demarcate abadi areas that includes inhabitant land, inhabited areas contiguous to abadi and wadis/basties in rural areas, using drone surveying technology.
In a major bureaucratic reshuffle, the Madhya Pradesh government has transferred 33 Indian Administrative Service officers including some collectors and principal secretaries.
The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
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