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tax
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Cut in states’ share in tax may become next big flashpoint
Hindustan Times, New Delhi | By Zia Haq
UPDATED ON OCT 27, 2020 05:05 AM IST
Chairman of the 15th Finance Commission NK Singh declined to comment on the issue due to reasons of confidentiality.
Andhra govt increases annual professional tax with some exemptions
Hindustan Times, Hyderabad | By Srinivasa Rao Apparasu
UPDATED ON AUG 26, 2020 01:01 AM IST
A fresh notification to this effect was issued on Monday. According to the notification, the government has increased one of the two slabs of professional tax on some categories – from Rs 1250 to Rs 2,000 to Rs 2,500 per year.
What is ‘faceless’ tax assessment? All you need to know
Hindustan Times, New Delhi | By hindustantimes.com | Edited by Sparshita Saxena
UPDATED ON AUG 13, 2020 03:32 PM IST
Under the system, appeals will be randomly allotted to any officer in the country. The identity of the officer deciding the appeal will remain unknown.
PM Modi to launch ‘transparent’ scheme on Thursday to reward country’s honest taxpayers
Hindustan Times, New Delhi | By hindustantimes.com | Edited by Sparshita Saxena
UPDATED ON AUG 12, 2020 11:12 AM IST
The event will see top officials from the Chambers of Commerce, Trade Associations, Chartered Accountants’ associations in attendance.
Taxes now make up almost three-fourths of fuel prices
Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON MAY 07, 2020 12:28 AM IST
According to officials with direct knowledge f the matter, the basic price of petrol dropped about 36% to Rs 17.96 per litre on May 6 from Rs 27.96 a litre on March 16, the day when fuel price was last revised. The basic price for diesel also dropped by over 41% at Rs 18.49 per litre compared to Rs 31.49 a litre on March 16.
Goods trucks seek extension on payment of road tax, GST
Hindustan Times, New Delhi | By Anisha Dutta
UPDATED ON APR 02, 2020 10:22 AM IST
Transport associations have also raised concerns with the ministry of road transport and highways alleging non-compliance of the ministry of home affair’s order to all states allowing transport of both essential and non-essential goods.
Telcos may get relief on taxes, input costs
Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON FEB 24, 2020 04:57 AM IST
Instant refund of input tax credit is unlikely as this would require the approval of the GST Council, but immediate bailout may include other measures such as a soft loan.
No new tax, project in Mohali MC’s ₹17 cr surplus budget
Hindustan Times, Chandigarh | By Hillary Victor
PUBLISHED ON FEB 13, 2020 01:18 AM IST
India faces first fall in direct taxes in at least two decades: Report
Hindustan Times, Mumbai | By Reuters
UPDATED ON JAN 24, 2020 06:25 PM IST
However, a sharp decline in demand has stung businesses, forcing companies to cut investment and jobs, denting tax collections and prompting the government to forecast 5% growth for this fiscal year - the slowest in 11 years.
Don’t want to pay tax? You don’t have to
By HT Brand Studio
PUBLISHED ON DEC 06, 2019 06:31 PM IST
Even though it sounds too good to be true, your investments can get you ample tax benefits. Tune in to the latest episode of HT Friday Finance to know more.
European Union hails ‘fast, ambitious’ pace towards digital tax
Lisbon | By Agence France-Presse
UPDATED ON NOV 08, 2019 06:56 AM IST
Competition Commissioner Margrethe Vestager, who takes over as the EU’s digital supremo next month, made her comments at the Web Summit in Lisbon, a major European conference for high tech.
Centre may ask states to levy more tax on older vehicles
New Delhi | By HT Correspondent
UPDATED ON SEP 27, 2019 12:22 AM IST
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.
GST Council may reduce tax on hotel room tariffs
New Delhi | By Shishir Gupta & Rajeev Jayaswal
UPDATED ON SEP 19, 2019 03:53 AM IST
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.
UP ministers to now pay taxes from own pockets as state amends law
Lucknow | By HT Correspondent
UPDATED ON SEP 14, 2019 07:38 AM IST
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.
Industry hails deadline for GST refunds, removal of angel tax for start-ups
Hindustan Times, Ludhiana | By HT Correspondent
UPDATED ON AUG 24, 2019 10:53 PM IST
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.
Higher taxes on the super rich is not a sound idea
By Rajeev Mantri
PUBLISHED ON AUG 13, 2019 07:33 PM IST
The current policy will push India’s best talent offshore, affecting the critical finance and technology sectors
Mamata Banerjee to protest against Centre over tax on Durga Puja
Kolkata | By Press Trust of India
UPDATED ON AUG 11, 2019 05:55 PM IST
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.
Want to reduce tax on corporates, Sitharaman expresses intent at CII meet
New Delhi | By Indo Asian News Service
PUBLISHED ON AUG 09, 2019 07:15 PM IST
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 on August 15.
What US could learn from India’s new tax on share buybacks
Bloomberg | By Ravil Shirodkar and Adam Haigh
UPDATED ON JUL 26, 2019 11:01 AM IST
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.
Made a mistake in filing IT return? Don’t panic
Hindustan Times, Mumbai | By HT Correspondent
PUBLISHED ON JUL 23, 2019 02:34 PM IST
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 return.
Arvind Kejriwal writes to union home and finance ministers on taxes
New Delhi | By HT Correspondent
UPDATED ON JUL 18, 2019 10:33 PM IST
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.
$42 billion wiped off Indian stocks since Budget as doubts on tax linger
New Delhi | By Bloomberg
UPDATED ON JUL 10, 2019 08:53 PM IST
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.
Has India’s growth become less revenue generating in nature? We decode
Hindustan Times, New Delhi | By Roshan Kishore
UPDATED ON JUL 09, 2019 08:35 AM IST
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.
Delhi’s share in central taxes stays unchanged, AAP alleges step-motherly treatment
New Delhi | By HT Correspondent
UPDATED ON MAY 28, 2020 08:57 PM IST
Raising Delhi’s share in Central taxes, which has remained the same for 19 years, has been a long-pending demand of AAP .
Kejriwal meets Sitharaman, demands hike in share of taxes
Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JUN 28, 2019 07:29 AM IST
The Delhi government also requested the Union finance minister to clear ₹3,000 crore pending integrated goods and services tax (IGST) dues of Delhi.
Disability pension no longer tax free for soldiers who serve full tenure
New Delhi | By Sudhi Ranjan Sen
UPDATED ON JUN 25, 2019 11:25 PM IST
Currently, both the disability pension and pension of soldiers are exempt from income tax.
Increase Delhi’s share in central taxes: Manish Sisodia
New Delhi | By HT Correspondent
UPDATED ON JUN 22, 2019 05:19 AM IST
Sisodia, who is also Delhi’s finance minister, made these demands at a pre-budget meeting convened by union finance minister Nirmala Sitharaman.
Trump hotel evaded taxes in Panama, alleges hotel investor
New York, US | By Press Trust of India
UPDATED ON JUN 04, 2019 10:14 AM IST
A filing in New York federal court alleges that Trump’s hotel management company evaded income and social security taxes.
Duo evades over Rs9-cr tax in fake gold racket, held
Mumbai | By HT Correspondent
PUBLISHED ON MAY 27, 2019 02:01 AM IST
According to the DRI, the arrested accused Vishal Choudhary is the director of a company that dealt in the export and import of gold.
Lok Sabha elections 2019| ‘No new tax for Nyay’: Manmohan Singh
New Delhi | By Indo Asian News Service
UPDATED ON APR 20, 2019 11:19 PM IST
In a statement, Singh said that implementation of Nyay, which aims to provide Rs 72,000 per family every year to the poorest 20% of population, would not entail any new tax on the middle class.
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