The states and the Centre levy road taxes for maintaining state or national highways, and they vary. The taxes are also levied when vehicles are bought. They are over and above the purchase prices and registration charges. read more

No GST is charged on room tariffs below Rs1,000 per day. A 12% tax is levied on tariffs above Rs1,000 but below Rs2,500. An 18% tax is levied on room tariffs between Rs2,500 and 7,500. Rroom rents above Rs7,500 fall in the 28% tax slab. read more

The Act was passed when VP Singh, then in Congress, was chief minister of the state and there existed a perception that most ministers came from poor backgrounds and needed their income tax liabilities to be underwritten by the government. read more

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The Union government should also have focused on other sectors of economy, including real estate, steel industry and textiles, which are also facing a slump, say industry representatives. read more

The current policy will push India’s best talent offshore, affecting the critical finance and technology sectors read more

Mamata Banerjee said Trinamool Congress would sit on a dharna in the city on August 13 in protest against the move of the BJP-led government at the Centre. read more

Sitharaman also touched upon two other elements relating to taxation: simplification and harassment. “We are looking at simplification of taxes,” said Sitharaman adding that the report of the committee on Direct Taxes Code is expected to be released... read more

Being something of a G-20 pioneer in financial taxes hasn’t stopped the rise of India’s equity market, which exceeds $2 trillion, making it three quarters the size of its economy. read more

In case you want to make changes in your income tax return data, you can choose from options such as schedules being changed, donation and capital gain details. The gross total income and deduction amounts should be the same as in the processed retu... read more

Kejriwal requested Shah and Sitharaman to look into the matter personally and “provide additional terms of reference to the 15th Finance Commission to enable” it to recommend the legitimate shares of Delhi in central taxes. read more

The reason being the realization that the new tax rate applies not just to the super rich but also to trusts -- a structure of choice for a large number of foreign funds that invest in the nation. read more

A higher tax buoyancy number indicates that either the nature of growth is more revenue generating or the tax-net is more effective at dealing with tax evasion. The reverse can be inferred if the tax-buoyancy number goes down. read more

Raising Delhi’s share in Central taxes, which has remained the same for 19 years, has been a long-pending demand of AAP . read more

The Delhi government also requested the Union finance minister to clear \u20B93,000 crore pending integrated goods and services tax (IGST) dues of Delhi. read more