A jury found two corporate entities at the Trump Organization guilty on all 17 counts, including charges of conspiracy and falsifying business records.
With global oil prices rallying to a decade high in the aftermath of the Russia-Ukraine war, state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) raked in windfall profits.
Taxpayers expect that at least in the upcoming Budget, their long-pending demand of increase in the deduction limit to Rs 3 lakh will be fulfilled
The government on Thursday slashed windfall tax or the special additional excise duty (SAED) on locally produced oil and also reduced levy on diesel exports.
Addressing the media on Thursday, Jayaram, however, denied it was a benami property.
The revised tax rates become effective from December 2, 2022.
This is the ninth straight month when collections from Goods and Services Tax (GST) have remained above Rs 1.40 lakh crore.
According to Bajaj, one of the changes in the new tax regime could be increasing the threshold from Rs 2.5 lakh to say Rs 7 lakh. He also feels the need for rationalising the tax slabs.
The officials asked the accountants and principals on how the colleges collect fees, whether it is in cash or online or in the form of cheques and whether the authorities issue any receipts.
A division bench of Justice PS Dinesh Kumar and Justice MG Uma quashed the notice dated August 11, 2021, issued by the Joint Commissioner of Income Tax
"The State government has been levying Rs 30 as cess tax per quintal of farm produces, including paddy, cotton, chilly, maize, ginger, turmeric and coconut, since June 2021.
I-T raids on 3 bizmen in morning, state GST follows with 7 in evening
The I-T officials reportedly found several discrepancies in transactions carried out by the Malla Reddy group of educational institutions as well as the businesses run by his relatives.
Government is reportedly looking at simplifying tax structure by bringing uniformity in holding periods to decide the nature of capital gains as short or long
That is a minuscule number of taxpayers in a country with a population of 1.4 billion.
Although at the moment India cannot afford to slash the tax rate on automobiles drastically, he said a plan to reduce cess on the industry can be looked at.
It is not the proportion of the population that is important but the fact that all of them are old.
The PHD chambers of commerce and industries sought tax rebate benefits on long term durables/real assets to give impetus to demand in the economy.
Sources said the corporation is yet to get more than Rs 100 crore from multiple sources like various taxes and rents from buildings owned by the corporation.
To boost job creation, CII suggested that an employment-linked incentive scheme be introduced and the government could consider an urban employment guarantee scheme.