CBDT has issued IT refunds of over Rs. 1,19,093 crore to more than 1.02 crore taxpayers from April 1,2021 to November 15,2021. This includes 67.99 lakh refunds of AY 2021-22 amounting to Rs. 13,140.94 crore.
Two influential Democrats are planning to levy a tax on countries that do not follow the rules for limiting climate change.
Mamata Banerjee also urged Modi to strengthen health infrastructure and augment supplies of equipment, medicines and oxygen for the treatment of coronavirus-positive patients
Central Board of Direct Taxes (CBDT) Chairman P C Mody on Friday said the income tax department has exceeded the revised estimates despite issuing substantial refunds in the 2020-21 fiscal.
Basic economics shows that indirect taxation distorts the economy and how direct taxation is discriminatory in nature, as many are outside the purview of direct taxes.
Revenue collection in October shows a 22% jump compared to the previous year; it had fallen drastically between March-April due to the lockdown.
In the meeting, the GST target was set at Rs 1.10 lakh crore every month between December 2019 and March 2020.
More than Rs 7 lakh crore worth of wealth was added as market capitalisation on the Bombay Stock Exchange, welcoming the finance minister’s announcement to reduce effective corporate income tax by almost 10 percentage points from 34.94 to 25.17.
Finance Minister Nirmala Sitharaman presented the Union budget on Friday and said the NDA government had set the ball rolling for a "new India" in its first term, saying there is a lot to cheer about for the middle class.
Finance Minister Nirmala Sitharaman presented the first budget of the Modi government in its second term. Sitharaman said India needs to make structural reforms to achieve USD 5 trillion economy in the next few years. Follow live updates here
Trump has repeatedly claimed that India is a 'tariff king' and imposes 'tremendously high' tariffs on American products.
The Congress president said another idea that came up during discussions with entrepreneurs was the opening of the banking system to young business-persons and providing them access.
The Congress President has repeatedly questioned Modi for not holding a press conference since he became the Prime Minister in 2014.
Dismissing the criticism of GST as ill-informed and motivated, Jaitley said the new indirect tax regime has led to lower taxes, lower inflation and reduced evasion.
Gandhi also attached a video of his election campaign during the Gujarat Assembly polls last year in which he had made the GST's "flawed implementation" a key issue.
President Donald Trump probed against tax schemes that include instances of outright fraud
When the GST council reduced the number of items attracting the top 28 per cent tax rate to just 50 from 228 in November last year, Chidambaram had said the decision had been taken to further the chances of the BJP in Gujarat where the election was due then.
He would take his colour, brushes and canvas outside to paint and talk with his love. He would stand close to the window and paint, keeping an eye on his muse.
They say the violin mimics the human sound. In his case, it was that of love, of longing. He didn’t know any other way of loving.
Younger people do not have much progressive beliefs; a 2017 survey found that one-third of young people opposed inter-caste marriage.
The pandemic has made it clear that virtual learning is here to stay. In the West, the big question is whether it will dilute the quality of the college experience and education. In India, which grapples with digital divide, the question remains whether this will reach most people at all.
Even after two years of the Covid-19 pandemic, many 'informed' individuals in India continue to deny the virus with unscientific claims and unfounded data. The latest? Omicron will end the pandemic.
Across Asia there are deeply entrenched obstacles to a mode of higher education that is liberal in multiple senses – disciplinary and epistemological but also social and political.
The two incidents in the recent past, one in Mon district of Nagaland and the other at Lakhimpur Kheri in Uttar Pradesh, undermined the core principles democracy and federalism.