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Bengaluru-based MPL to lay off 350 employees

The move is believed to be an impact of the GST council’s recent recommendation to impose 28 per cent tax on the earnings from this sector.

Bengaluru based MPL to lay off 350 people from the workforce(Freepik)
Updated on Aug 08, 2023 08:53 PM IST

Twitter relates to man paying 50% of his income as tax

A man's tweet about paying taxes twice has sparked a conversation on social media. He shared that he pays income tax and also taxes on his spending.

Bengaluru man shares about how he is paying 50% as tax.(Representative Image)
Published on Jul 20, 2023 09:13 AM IST
ByVrinda Jain

Govt should consider junking TCS on LRS

The govt did a smart thing by not rushing through the implementation of the new LRS rules; perhaps it should do the smarter thing and scrap the changes entirely

LRS was reformist, allowing Indians to spend abroad up to a specified ceiling. (HT PHOTO)(HT PHOTO)
Updated on Jun 30, 2023 03:37 AM IST
ByHT Editorial

Confusion on LRS tweak days before rollout; junk it: Experts

The government will soon issue some clarifications on charging different TCS rates varying between 0.5% and 20%.

The new Foreign Exchange Management (Current Account Transactions) Rules, which was notified last month on May 16, deleted a section that exempted credit card payments from the LRS.
Published on Jun 27, 2023 06:15 AM IST
ByRajeev Jayaswal

Experts criticise decision to tax credit card usage in foreign countries

Experts said the government’s decision imposes 20% TCS on almost all transactions and would discourage people from using online payments.

credit card(Representative image)
Updated on May 19, 2023 02:08 AM IST
ByRajeev Jayaswal, New Delhi

Bali in Indonesia mulls tourist entry tax after crackdown on bad behaviour

Dozens of tourists have been deported from Bali in the last few weeks for misusing their visas to work onshore, break traffic rules and violate religious sites.

Bali in Indonesia mulls tourist entry tax after crackdown on bad behaviour (Unsplash)
Published on Apr 18, 2023 05:17 PM IST
Bloomberg | | Posted by Zarafshan Shiraz

Further felling of trees in Aarey will destroy sustenance of remaining Adivasis

The Bhoyes, whose eviction has been stayed by a 2018 High Court order, are now the only family from Prajapur to continue practicing indigenous land use; harvesting fruits, tubers and a few vegetables for personal consumption and sale. The natural resources that allow them to do so are now under threat, with the MMRCL prepared to fell 124 trees in the area, of which 75 are tended to by the Bhoyes.

Mumbai, India - April 11, 2023: Contrary to what many believe, the 177 additional trees that the MMRCL is now seeking to cut in Aarey Colony for Metro-3, are not actually located in the contentious depot plot. They can be found some distance away on a hillock in Prajapur Pada, an Adivasi settlement, which has been practising agriculture and horticulture on project affected lands for decades. At least 75 of the earmarked trees, including jamun, jackfruit, chickoo and banana varieties, are situated on the land of the Bhoye family, belonging to the Kokna Scheduled Tribe, in Mumbai, India, on Tuesday, April 11, 2023. (Photo by Satish Bate/Hindustan Times) (Satish Bate/HT PHOTO)
Updated on Apr 12, 2023 12:41 AM IST
ByPrayag Arora-Desai

Cyprus-based betting website under scanner for GST evasion

The director of Parimatch, a Cyprus-based online gambling website, has been arrested in India for operating without GST registration, according to the Mumbai zonal unit of the Director General of Goods and Services Tax Intelligence. The firm's GST liability is estimated at INR20 crore ($2.7m). Many similar websites have emerged in India over the past two years, despite gambling and betting being illegal in the country.

HT Image
Updated on Apr 11, 2023 12:57 AM IST
ByPayal Gwalani

Four, including foreigner held for duping Gurugram woman of 16 lakh

Investigators said the suspects posed as doctors, engineers and information technology (IT) professionals and got in touch with women on the matrimonial apps and took money from them on the pretext of clearing customs fees for gifts

Four, including foreigner held for duping Gurugram woman of <span class='webrupee'>₹</span>16 lakh
Updated on Apr 06, 2023 11:58 PM IST

US Justice Department agreed for a settlement with Activision

It is estimated that 60% of the Americans report they enjoy playing video games on a weekly basis and over millions like to watch pro league tournaments.

Activision Games
Published on Apr 05, 2023 06:01 AM IST
ByTuhin Das Mahapatra

Mohali: Duo robs banker of 1 lakh at gunpoint through UPI transfer

Threatening to kill him, the robbers first looted ₹1 lakh through UPI transfer, before forcing the victim to withdraw ₹20,000 from an ATM, said Mohali police

The victim, Vikas Chopra, an employee of SBI, told the Mohali police that he was returning to Sangrur, his place of posting, after attending to an ailing family member in Zirakpur. (HT PHOTO)
Updated on Apr 01, 2023 02:27 AM IST
By, Mohali

Bid to remove tax benefit from debt funds is hasty

There is an uproar in the Indian investing community over the collapsing of the long- and short-term tax status of debt funds, removing the indexation benefit from financial year 2023-24 and the manner in which it was pushed through.

Bid to remove tax benefit from debt funds is hasty
Published on Mar 25, 2023 01:32 AM IST
ByMonika Halan

Centre cuts windfall tax on crude, aviation turbine fuel and diesel: Report

Indian government decided to cut windfall tax on crude, aviation turbine fuel and diesel to 4,350 rupees ($52.60) per tonne from 5,050 rupees per tonne, effective Thursday.

The cuts came as Indian refiners continued to stock up discounted Russian fuel amid a steady increase in domestic consumption.(REUTERS/ Representative Image)
Published on Feb 16, 2023 09:33 AM IST
Reuters | | Posted by Singh Rahul Sunilkumar

Budget 2023: What is Indirect Tax? Meaning and types

Indirect taxes are levied on businesses, who then pass the cost on to consumers. Goods and Services Tax (GST) and Central Excise Duty are the two major indirect taxes.

GST is a value-added tax levied on the purchase of goods and services. (MINT_PRINT)
Updated on Jan 29, 2023 02:34 PM IST

Dubai aims to boost business and tourism by ending hefty alcohol tax

Tourism is a key plank of the emirate’s economy but it’s been geared predominantly toward the luxury segment. The latest move of scrapping a 30% tax on alcohol sales and making liquor licenses free will leave Dubai better-positioned to cater to wider swathes of the market.

Dubai aims to boost business and tourism by ending hefty alcohol tax (Unsplash)
Updated on Jan 02, 2023 04:24 PM IST
Bloomberg | | Posted by Zarafshan Shiraz

California Democrats split over move to tax rich for electric vehicles: Report

Environmental and health group backers say California needs dedicated funding to speed the transition away from gas-powered cars and help lower planet-warming emissions.

The proposition before voters would add a 1.75% tax on personal income of more than $2 million. (Representational Image)
Published on Oct 17, 2022 04:07 PM IST
AP | | Posted by Lingamgunta Nirmitha Rao

Centre hikes tax on windfall profit on crude oil, export of diesel, jet fuel

The tax on crude oil produced by firms such as state-owned Oil and Natural Gas Corporation (ONGC) was increased to ₹11,000 per tonne beginning October 16 from ₹8,000.

Centre hikes tax on windfall profit on crude oil, export of diesel, jet fuel (File image)
Updated on Oct 15, 2022 09:50 PM IST

Thailand lures wealthy and talented foreigners with 10-year visa, tax breaks

Top professionals, eligible high net-worth individuals and retirees can start applying online from Thursday to stay for as long as 10 years in Thailand. The government has set the target of attracting one million wealthy or talented foreigners to the country over the next five years

Thailand lures wealthy and talented foreigners with 10-year visa, tax breaks (Pixabay)
Updated on Sep 01, 2022 09:04 AM IST
Bloomberg | | Posted by Zarafshan Shiraz

Pakistan to raise PKR 30 bn as taxes to avert default on oil and gas payments

The country's Economic Coordination Committee (ECC) has approved budget grant of PKR 30 billion for the immediate payment to state-run Pakistan State Oil (PSO), which is facing international payment obligations of about PKR 270 billion till August 28.

Shoppers at a supermarket in Islamabad, Pakistan, on Friday, July 29, 2022. Pakistan announces its consumer price index (CPI) figures on Aug. 1, 2022. Photographer: Asad Zaidi/Bloomberg(Bloomberg)
Published on Aug 01, 2022 04:26 PM IST
PTI | | Posted by Yagya Sharma

'Reconsider…': Maharashtra deputy CM's plea to centre over gas price hike

The Maharashtra government had slashed Value Added Tax (VAT) on natural gas as on April 1, leading to CNG price falling by ₹6 and PNG by ₹3.50/standard cubic metre.

Maharashtra deputy chief minister Ajit Pawar (HT PHOTO)
Published on Apr 07, 2022 02:59 PM IST
Written by Manjiri Sachin Chitre | Edited by Chandrashekar Srinivasan

People react with hilarious memes after 30% Tax on crypto assets announced

Budget 2022: Finance minister Nirmala Sitharaman made the announcement today about 30% Tax on crypto assets.

Budget 2022: A Twitter user shared this meme while reacting to the 30% Tax on crypto assets.(Twitter/@AkVillainn)
Updated on Feb 01, 2022 03:48 PM IST
ByTrisha Sengupta

Kerala govt to slash motor vehicle tax on tourist caravans

The government's policy is that every panchayat and municipality must have at least one tourist destination. For their smooth day-to-day running, the government has decided to enlist active participation of local self-government institutions.

The Kerala government will slash the motor-vehicle tax on tourist caravans by one-fourth, considering the immense scope of Caravan Tourism in the state, State Tourism Department said here on Thursday.(Unsplash)
Published on Sep 30, 2021 10:43 PM IST

What is ‘faceless’ tax assessment? All you need to know

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.

Prime Minister Narendra Modi during the launch of 'Transparent Taxation - Honoring The Honest' platform via video conferencing.(PTI)
Updated on Aug 13, 2020 03:32 PM IST
Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Sparshita Saxena

PM Modi to launch ‘transparent’ scheme on Thursday to reward country’s honest taxpayers

The event will see top officials from the Chambers of Commerce, Trade Associations, Chartered Accountants’ associations in attendance.

File photo: Prime Minister Narendra Modi.(PTI)
Updated on Aug 12, 2020 11:12 AM IST
Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Sparshita Saxena

Made a mistake in filing IT return? Don’t panic

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.

The income tax department gives you the option to rectify your error under section 154.(HT Photo)
Published on Jul 23, 2019 02:34 PM IST
Hindustan Times, Mumbai | ByHT Correspondent
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