Direct tax collections top revised estimates by 5% – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr NEW DELHI: The Centre’s direct tax collections, net of refunds, were estimated at Rs 9.45 lakh crore during 2020-21, around 5% higher than the revised estimates of Rs 9.05 lakh crore for the financial year, the government said on Friday. Both corporation tax and personal income tax collections turned out to be higher […]

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Centre’s fiscal deficit at 76% of revised estimates during Apr-Feb: CGA

Share this…FacebookPinterestTwitterLinkedinTumblr The central government’s fiscal deficit at the end of February worked out to be 76% of the revised estimate, indicating that it is likely to remain within the projections made by Finance Minister Nirmala Sitharaman last month. The minister had revised the fiscal deficit projections for 2020-21 to ₹18.48 lakh crore or 9.5% […]

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No digital tax if goods, services sold via Indian arm of foreign e-commerce players

Share this…FacebookPinterestTwitterLinkedinTumblr The digital tax introduced in April 2020, applies only to non-resident companies with annual revenues in excess of ₹2 crore, and covers online sales of goods and services to Indians. In a bid to provide a level-playing field, the government has decided not to levy 2% digital service tax if goods and services […]

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Not possible to bring petrol, diesel in GST regime even for next 8-10 yrs: Sushil Modi

Share this…FacebookPinterestTwitterLinkedinTumblr Finance Minister Nirmala Sitharaman had on Tuesday said in Lok Sabha that she would be “glad” to discuss the suggestion of bringing petrol and diesel under the ambit of the Goods and Services Tax at the next meeting of the GST Council. Bringing petrol and diesel under the GST regime is not possible […]

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PF tax-free up to Rs 5 lakh if employer doesn’t contribute – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr NEW DELHI: The Lok Sabha on Wednesday approved tax proposals after finance minister Nirmala Sitharaman moved 127 amendments, including a minor tweak to the provision on annual provident fund contribution of over Rs 2.5 lakh apart from offering a tax holiday of up to 10 years for development finance institutions. While announcing the […]

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Government to borrow Rs 20,000 crore less this fiscal; RBI cancels debt auction – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr MUMBAI: The government has decided to cancel its Rs 20,000 crore borrowing scheduled for March 26 on review of position of cash balance, the Reserve Bank of India (RBI) said on Monday. This means, the government would be borrowing Rs 20,000 crore less than its target of Rs 12.8 lakh crore announced in […]

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Taapsee Pannu takes a dig at the recent findings of the Income Tax raid at her home, says, “Not so sasti anymore” : Bollywood News – Bollywood Hungama

Share this…FacebookPinterestTwitterLinkedinTumblr Anurag Kashyap and Taapsee Pannu have been on the radar as the Union Ministry of Finance had recently raided their homes under the Phantom Films tax fraud probe. While the findings of the recent investigation are still underway, a few facts have been given out including that the actress has a bungalow in […]

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High petrol, diesel prices burden on consumers; tax cut should be joint call of Centre, States: Nirmala Sitharaman

Share this…FacebookPinterestTwitterLinkedinTumblr Economists at SBI in a report stated that petrol price can go down to ₹75 a litre across the country if it is brought under the ambit of GST. Finance Minister Nirmala Sitharaman on Friday acknowledged that consumers have a case for petrol and diesel prices to be brought down but said a […]

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Budget marks directional change for Indian economy: Sitharaman

Share this…FacebookPinterestTwitterLinkedinTumblr Union Finance Minister Nirmala Sitharaman on February 25 said this year’s Budget has negated the notion that welfare state is a socialist prerogative, and added that it has given a directional change to the Indian economy, wherein the government trusts wealth creators and citizens. She lauded the reform of faceless assessment for direct […]

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Petrol price: Centre in bind but 4 states offer relief as fuel’s on fire | India Business News – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr NEW DELHI: The Centre may be facing “dharm sankat (dilemma)” over record fuel prices. But four states have taken the lead with tax cuts to offer consumers relief and show the Centre that spiralling pump prices have less to do with rising crude but is more because of high levies. On Sunday, poll-bound […]

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