The Centre earned nearly Rs 8.02 lakh crore from taxes on petrol and diesel during the last three fiscal years, of which more than Rs 3.71 lakh crore was collected in FY21 alone, Finance Minister Nirmala Sitharaman informed Parliament on Tuesday. The minister was responding to queries on the hike in excise duty on petrol and diesel during last three years and the details of the revenue earned through various taxes on these fuels. The excise duty on petrol rose from Rs 19.48 per litre as on October 5, 2018 to Rs 27.90 a litre as on November 4, 2021.
Continuing our series on how to achieve Financial Independence and Retire Rarly (FIRE), Vatsal Ramaiya emphasises the importance of planning for retirement.
The two-wheeler segment has shown signs of recovery in the first half (H1) of calendar year (CY) 2024, largely driven by improving performance in rural areas. According to the Federation of Automobile Dealers Associations, rural contribution to two-wheeler sales surged by 57-60 per cent in the April-June quarter of 2024-25, indicating a rising demand in these regions. Experts believe that this trend will continue, supported by a favourable monsoon season and government initiatives aimed at rural development.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
An interim report on the action has also been sent by the field investigation wing of the income tax department to the Central Board of Direct Taxes in Delhi, the administrative body for the department.
rediffGURUS Hardik Parikh, Tejas Chokshi, Mihir Tanna and Sanjeev Govila answer your tax related queries.
I-T dept will soon issue a unique number to address your refunds and grievances. But the traditional route is still better.
There has been no change in Tata Steel's strategy on operations in the United Kingdom (UK), company chairman N Chandrasekaran has told shareholders. The statement comes amid growing concern about the restructuring plan in the face of change in government in the UK. Tata Steel's plan for the UK entailed a 1.25 billion investment plan agreed upon by the Conservative party-led government in September last year.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
An RTI query seeking details of expenses incurred by the Centre on hosting US President Barack Obama earlier this year has been rejected by the Ministry of External Affairs on the ground that such information is sensitive and may affect bilateral relations with the foreign country.
Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit.
The marathon raids against Boudh Distillery Private Limited, its promoters and others entered the fifth day on Sunday.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
By following the path of Kula Dharma as mentioned in the Bhagavad Gita, you will not only be securing your child's future but also contributing to your own early sukoon (peace and well-being), says Vatsal Ramaiya
CAG recommended fixing a definite time frame for rolling out simplified GST return forms.
To help our readers with all their tax queries, Rediff Business arranged a chat with tax experts Mr A N Shanbhag and Mr Sandeep Shanbhag on Thursday.
Transcript of the tax chat held on March 12.
Within the next two years, verification and scrutiny of returns will happen electronically through anonymised back offices manned by tax experts and officials. It will function without any personal interface between taxpayers and tax officers. Both the taxpayer and the tax officer will not know each other -- who is scrutinising whose return, and at which place, points out Kuldip Kumar, partner and leader personal tax, PwC.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
On Thursday, the bench, after perusing the plea copy, noted that Wankhede had approached the Central Administrative Tribunal, too, against the notices issued to him by the NCB.
US proposal to raise the global corporate tax rate to 28% from 21% might face resistance from countries unwilling to give up their edge and compete with America on its terms.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Government unlikely to bring in an ordinance to address the developments arising out of the Supreme Court order.
The scheme offers waiver of interest, penalty, and prosecution for settling tax disputes.
The income tax department has found alleged manipulation of account books for reducing taxable income in India by Chinese telecom company Huawei whom it raided recently, sources said on Thursday. The searches were conducted on February 15 at the main business and residential premises of "key office bearers" of a multi-national group, engaged in distribution of telecom products and providing captive software development services, the CBDT said in a statement. Sources identified the company as Huawei.
rediffGURU Ulhas Joshi recommends five factors you need to look at to evaluate the performance of two schemes.
rediffGURU Ulhas Joshi answers readers' mutual fund queries
rediffGURU Vivek Lala answers your income tax and personal finance queries.
rediffGURU Ulhas Joshi answers your mutual fund queries.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
In an online chat with Get Ahead readers on February 6, Anil Rego, CEO, RightHorizons, answered their queries on saving tax.
Megha Engineering and Infrastructure, the little-known Hyderabad-based firm that in recent years won the prestigious Zojila tunnel deal among other projects, forayed into city gas and acquired a media group, was the second largest donor to political parties using electoral bonds.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, will answer your queries.
Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
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