Tax
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Healthcare tax imposed on liquor, fuel in Uttarakhand
Business | May 08, 2020, 08:20 AM ISTBy imposing a healthcare tax on liquor and fuel, the Uttarakhand cabinet on Thursday increased the price of liquor by amounts between Rs 20 and Rs 200 per bottle and that of petrol and diesel per litre by Rs one and Rs two respectively.
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Employees have to inform employers about intention to opt for new tax system: CBDT
Business | Apr 13, 2020, 08:29 PM ISTThe income tax department on Monday said employees will have to inform their employers about their intention to opt for the new optional tax regime to enable the latter to deduct TDS while paying salaries.
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COVID-19 relief: CBIC launches drive for faster clearance of refund claims
Business | Apr 09, 2020, 10:42 PM ISTWith about Rs 18,000 crore of refund claims stuck, the CBIC on Thursday said it has launched a special drive to facilitate disposal of all such pending claims. The 'Special Refund and Drawback Disposal Drive', which will go on till month end,
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Petrol, diesel, liquor to cost more in Karnataka as govt hikes tax
Business | Mar 05, 2020, 07:03 PM ISTPetrol, diesel and liquor are set to cost more in Karnataka from April 1 as the BJP government in its 2020-21 budget on Thursday proposed to hike the taxes to mop up additional resources in the face of unprecedented "financial difficulties".
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Lok Sabha passes bill to settle disputed tax dues by March 31 without paying interest,penalty
India | Mar 04, 2020, 07:55 PM ISTA bill providing opportunity to taxpayers to settle disputes by paying just due taxes with complete waiver of interest and penalty by March 31 was passed by the Lok Sabha amid din on Wednesday.
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Over 4.78 lakh income tax appeals pending at end of March 2019
Business | Mar 02, 2020, 05:43 PM ISTThe number of income tax appeals pending at various judicial fora stood at 4,78,801 at the end of the financial year 2018-19, the Lok Sabha was informed on Monday.
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Looking for last-minute tax saving investments? MUST keep these things in mind
Business | Feb 20, 2020, 05:57 PM ISTThis is that time of the year when we try to evaluate all our investment proofs to submit in order to justify our earnings. Only a few days are left for the financial year to end and many of us have still not submitted our tax savings investment.
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Goa: Liquor traders seek restructuring of proposed excise tax
India | Feb 18, 2020, 10:52 PM ISTGoa Chief Minister Pramod Sawant on Tuesday reportedly assured a delegation to restructure the proposed excise tax by keeping the interests of the state government and liquor traders in mind.
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How much money you can save? This new e-calculator will answer all questions on new, old tax regime
Business | Feb 19, 2020, 12:26 PM ISTThe Income Tax department has launched an e-calculator to answer all your queries on the new vs old tax regime. People can calculate how much they will have to pay in eighter of the tax regimes, how much they can save and which scheme will be suitable for an individual.
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Individuals earning more than ₹1 lakh/month can save under new tax regime
Business | Feb 02, 2020, 11:07 PM ISTIndividuals having an annual salary income of over Rs 13 lakh and availing deductions of up to Rs 2 lakh will save on their tax outgo if they opt for the new tax regime proposed in the Budget, government sources said on Sunday.
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The beginner’s guide to income tax sections & how to save taxes
Brand Content | Jan 31, 2020, 01:37 PM ISTBeginner's Guide to Income Tax Sections and How to Save Taxes: A quick look at some of the most commonly-availed sections of the Income Tax Act which provide you tax savings.
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Budget 2020: BJP recommends tax tweaks to attract foreign investors
Business | Jan 29, 2020, 08:44 PM ISTThe Bharatiya Janata Party (BJP) has recommended adjusting rules on taxing equity market returns in the upcoming budget, news agency Reuters reported on Wednesday. The report said the proposal, if accepted, could attract more capital inflows into the stock markets.
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While making tax-saving decisions, don’t make these common mistakes
Brand Content | Jan 29, 2020, 09:21 PM ISTAs we’re approaching the end of the financial year, many of us are on the hunt for a tax-saving investment plan or insurance policy. Last-minute tax-saving decisions have the potential to be poorly thought.
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Tax Department raises GST revenue target to Rs 1.15 lakh cr for Jan-Feb
Business | Jan 17, 2020, 10:14 PM ISTLast month, the department had raised its GST tax collection target to Rs 1.1 lakh crore per month with Rs 1.25 lakh crore for a single month for the remaining period of this financial year while the direct tax target was to remain at Rs 13.35 lakh crore sans the corporate tax relief of Rs 1.45 lakh crore.
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Flat tax rate in Budget 2020? Govt considering proposal
Business | Jan 17, 2020, 11:38 AM ISTThe government is considering a proposal to extend further incentives to salaried taxpayers in the upcoming budget. The Finance Ministry may allow individual taxpayers to pay a lower flat rate of tax if they forego all exemptions.
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Will Budget 2020 bring tax relief? Common man has hopes pinned on Modi govt
India | Jan 01, 2020, 01:38 PM ISTThe common man has his eyes set on Finance Minister Nirmala Sitharaman's second Budget next month for relief in income tax, but an economic slowdown and a sharp reduction in corporate tax rates hint that she has very little flexibility to dole out a big largesse.
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Goa village 'suspends' tourist photography tax
India | Nov 07, 2019, 09:21 AM ISTThe tax had also irked travel and tourism industry stakeholders in Goa, who had expressed concern that such a tax may be emulated in other coastal villages, which would deter tourists from visiting the areas.
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Sitharaman seeks tax experts' inputs to correct GST flaws
Business | Oct 11, 2019, 10:50 PM ISTConceding that GST may have some flaws in its present form, finance minister Nirmala Sitharaman on Friday asked tax professionals not to curse it and sought their help to make it better.
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Chinese vow to make Gwadar port more valuable than Karachi
World | Oct 09, 2019, 09:59 PM ISTPakistan has granted a 23-year income tax holiday, exemptions of sales tax and customs duties to the Chinese operators of the strategic Gwadar Port and its free zone as the two countries stepped up their efforts to build the China-Pakistan Economic Corridor, according to a media report on Wednesday.
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Chinese firm gets 23-year tax exemption in Pak
World | Oct 09, 2019, 11:53 AM ISTThis was announced by Pakistan Federal Minister for Maritime Affairs Ali Haider Zaidi on Tuesday. He said that the government has granted tax exemption to the China Overseas Ports Holding Company (COPHC) for 23 years to facilitate establishment of its industrial units at Gwadar Port.