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What the FCRA amendments mean

The Bill amends the Foreign Contribution (Regulation) Act 2010 (FCRA 2010) to make several new provisions. The FCRA 2010 has already been amended twice.
Minister of state for home Nityanand Rai, during a discussion in the Lower House, argued that the law needed to be updated further to “prevent the misuse of foreign funds” by those who receive it.(Diwakar Prasad/ Hindustan Times)
Minister of state for home Nityanand Rai, during a discussion in the Lower House, argued that the law needed to be updated further to “prevent the misuse of foreign funds” by those who receive it.(Diwakar Prasad/ Hindustan Times)
Updated on Sep 22, 2020 11:48 PM IST
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Hindustan Times, New Delhi | By

TCS to be levied on foreign tax remittances: All you need to know

A TCS of 5% was announced in Union Budget 2020, which was presented in February.
A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas/Files(REUTERS)
A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas/Files(REUTERS)
Updated on Sep 10, 2020 04:04 PM IST
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Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Karan Manral

Gross Direct Tax collection grew 8% in FY20, says CBDT

The revenue impacts of corporate tax reforms and personal income tax concessions were 1,45,000 crore and 23,200 crore, respectively.
In order to boost investments, the government in September last year gave a <span class='webrupee'>₹</span>1.45 lakh crore bonanza to the industry by drastically reducing corporate tax rates. (Representative Image)(Getty Images/iStockphoto)
In order to boost investments, the government in September last year gave a 1.45 lakh crore bonanza to the industry by drastically reducing corporate tax rates. (Representative Image)(Getty Images/iStockphoto)
Published on Jun 08, 2020 05:25 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

‘No extension of fiscal year’: Finance Ministry after rumours abound

Officials said a gazette notification issued late on Monday evening pertained to date of applicability of stamp duty which has been changed from April 1 to July 1.
Industry has been demanding extension of fiscal year by three months in view of the economic impact caused by outbreak of Covid1-19.
Industry has been demanding extension of fiscal year by three months in view of the economic impact caused by outbreak of Covid1-19.
Updated on Mar 30, 2020 11:20 PM IST
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New Delhi | ByPress Trust of India

Home loan tax rebate: Have you claimed these tax benefits yet?

Under Section 80C of the Income Tax Act, borrowers can claim tax exemptions of up to Rs.1.5 lakh on the annual home loan principal repaid.
Homebuyers should be aware of home loan tax benefits before submitting their annual tax return.(Bajaj Finserv)
Homebuyers should be aware of home loan tax benefits before submitting their annual tax return.(Bajaj Finserv)
Updated on Jan 31, 2020 11:18 AM IST
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Petition over electoral bonds in Supreme Court on January 20

The Finance Act, 2017 introduced a system of electoral bonds to be issued by any scheduled bank for the purpose of electoral funding.
The Supreme Court will hear on Monday the plea by Communist Party of India (Marxist) and NGO Association for Democratic Reforms and seeking a stay on the electoral bonds scheme of 2018.(Amal KS/HT PHOTO)
The Supreme Court will hear on Monday the plea by Communist Party of India (Marxist) and NGO Association for Democratic Reforms and seeking a stay on the electoral bonds scheme of 2018.(Amal KS/HT PHOTO)
Updated on Jan 18, 2020 11:44 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Aadhaar impact?: 7-judge bench to look at passage of 2017 Finance Act

The decision virtually reopened the 2018 Aadhaar judgment since it upheld the validity of the passing the Aadhaar Act, 2016 as a Money Bill.
The Centre maintained its stand that it is a money bill since it has provisions which deal with salaries and allowance to be paid to members of tribunals from the consolidated funds of India.(Sonu Mehta/HT PHOTO)
The Centre maintained its stand that it is a money bill since it has provisions which deal with salaries and allowance to be paid to members of tribunals from the consolidated funds of India.(Sonu Mehta/HT PHOTO)
Updated on Nov 14, 2019 05:35 AM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Lok Sabha elections 2019: All you need to know about electoral bonds

Electoral bonds, unlike debt instruments, resemble promissory notes, which allow donors to pay political parties with banks as an intermediary. These were introduced after changes in the Finance Act 2017.
Electoral bonds are issued by the State Bank of India (SBI) for amounts ranging from <span class='webrupee'>₹</span>1000 to <span class='webrupee'>₹</span>1 crore and are available for a period of 10 days each in the months of January, April, July and October.(BLOOMBERG NEWS)
Electoral bonds are issued by the State Bank of India (SBI) for amounts ranging from 1000 to 1 crore and are available for a period of 10 days each in the months of January, April, July and October.(BLOOMBERG NEWS)
Updated on Apr 24, 2020 05:14 PM IST
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Hindustan Times, New Delhi | By

Privacy of electoral bond buyers vital: Centre tells Supreme Court

The affidavit was in response to a petition filed by the CPI (M) questioning the law that permits “unlimited and anonymous” corporate funding of elections by way of electoral bonds.
Electoral Bonds were introduced after changes in the Finance Act 2017; there was related amendments in the Income Tax Act, the RBI Act, and the Representation of People Act.(HT File Photo)
Electoral Bonds were introduced after changes in the Finance Act 2017; there was related amendments in the Income Tax Act, the RBI Act, and the Representation of People Act.(HT File Photo)
Published on Mar 14, 2019 11:40 PM IST
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Hindustan Times, New Delhi | ByBhadra Sinha and Smriti Kak Ramachandran

Slash cap on anonymous donations to parties from 20,000 to 2000: Election Commission asks govt

There is no constitutional or statutory prohibition on receipt of anonymous donations by political parties. But there is an “indirect partial ban” on anonymous donations through the requirement of declaration of donations under Section 29C of The Representation of the People Act.
A general view of Election Commission of India building in New Delhi.(PTI Photo)
A general view of Election Commission of India building in New Delhi.(PTI Photo)
Updated on Oct 17, 2018 11:34 PM IST
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New Delhi | ByPress Trust of India

The path to reforms: Ensure enforcement, bring clarity

Election Commission of India (ECI) is outgunned when it comes to confronting those who circumvent existing campaign finance rules and lacks power to sanction candidates.
ECI is outgunned when it comes to confronting those who circumvent existing campaign finance rules and lacks power to sanction candidates.(AFP File Photo)
ECI is outgunned when it comes to confronting those who circumvent existing campaign finance rules and lacks power to sanction candidates.(AFP File Photo)
Updated on Jul 27, 2018 10:03 AM IST
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ByDevesh Kapur, E Sridharan and Milan Vaishnav
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Thursday, January 27, 2022