Tax Concessions
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GST Relief For Middle Class Soon: Cheaper Toothpaste, Utensils, Clothes, Shoes
After a series of income tax concessions earlier this year, the Centre is now preparing to extend relief to middle and lower-income households in the form of a reduction in Goods and Services Tax (GST), sources have said.
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Delhi Government To Provide Tax Concession For Scrapping Old Vehicles
The Delhi government is planning to provide a tax concession for scrapping old vehicles and has sent a proposal to Lt Governor VK Saxena for approval.
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Tax Benefits, Intellectual Property Rights On Pharma Industry's Budget Wishlist
There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies.
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Rahul Gandhi Slams Centre Over No Concession On Rail Tickets To Elderly
Former Congress president Rahul Gandhi attacked the government for not providing concessions to elderly on rail tickets. He alleged that there are "tax exemptions for capitalist friends" but no concessions for elderly.
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How the 1 Percent TDS Provision Will Affect the Growth of the Crypto Industry
The recently introduced 1 percent TDS on virtual digital asset (VDA) transactions, as part of the Finance Bill 2022, has been described as highly detrimental to the industry. The tax provision is expected to discourage entrepreneurs and investors from developing the burgeoning industry while the government could lose out on an opportunity to earn t...
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India Will Not Give Tesla Any Tax Breaks
Tesla wants concessions so that it can import its car in India making them relatively viable.
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MoRTH Proposes Concession Of Up To 25 Per Cent On Road Tax Against Vehicle Scrapping Certificate
According to the new proposal, if the vehicle is registered against submission of "Certificate of vehicle scrapping", the concession in the motor vehicle tax will be up to 25 percent, for non-transport vehicles and up to 15 percent for transport vehicles.
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Stamp Duty Concession For Women, Increased Liquor Tax In Maharashtra Budget
The Maharashtra government's budget for 2021-22, presented on International Women's Day, offered one per cent concession in stamp duty if property is transferred exclusively in women's name.
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"Lost Rs 7,800 Crore Revenue Due To Tax Concessions," Says Centre: Highlights
Finance Minister Nirmala Sitharaman announced reforms in seven key areas,including MGNREGA, healthcare and education, ease of doing business, in the fifth and final tranche of economic stimulus package to deal with the economic fallout of the COVID-19 pandemic. also announced an increase in borrowing limit forstates from 3 per cent to 5 percent. Th...
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Will Your Income Tax Change? New Report Given To Finance Ministry
A Direct Tax Code task force constituted by the government has proposed a new taxation system that will bring about dramatic changes to the age-old Income Tax Act-1961, providing concessions to tax-payers and enhancing their spending power amid an alarming economic slump.
-
GST Relief For Middle Class Soon: Cheaper Toothpaste, Utensils, Clothes, Shoes
After a series of income tax concessions earlier this year, the Centre is now preparing to extend relief to middle and lower-income households in the form of a reduction in Goods and Services Tax (GST), sources have said.
-
Delhi Government To Provide Tax Concession For Scrapping Old Vehicles
The Delhi government is planning to provide a tax concession for scrapping old vehicles and has sent a proposal to Lt Governor VK Saxena for approval.
-
Tax Benefits, Intellectual Property Rights On Pharma Industry's Budget Wishlist
There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies.
-
Rahul Gandhi Slams Centre Over No Concession On Rail Tickets To Elderly
Former Congress president Rahul Gandhi attacked the government for not providing concessions to elderly on rail tickets. He alleged that there are "tax exemptions for capitalist friends" but no concessions for elderly.
-
How the 1 Percent TDS Provision Will Affect the Growth of the Crypto Industry
The recently introduced 1 percent TDS on virtual digital asset (VDA) transactions, as part of the Finance Bill 2022, has been described as highly detrimental to the industry. The tax provision is expected to discourage entrepreneurs and investors from developing the burgeoning industry while the government could lose out on an opportunity to earn t...
-
India Will Not Give Tesla Any Tax Breaks
Tesla wants concessions so that it can import its car in India making them relatively viable.
-
MoRTH Proposes Concession Of Up To 25 Per Cent On Road Tax Against Vehicle Scrapping Certificate
According to the new proposal, if the vehicle is registered against submission of "Certificate of vehicle scrapping", the concession in the motor vehicle tax will be up to 25 percent, for non-transport vehicles and up to 15 percent for transport vehicles.
-
Stamp Duty Concession For Women, Increased Liquor Tax In Maharashtra Budget
The Maharashtra government's budget for 2021-22, presented on International Women's Day, offered one per cent concession in stamp duty if property is transferred exclusively in women's name.
-
"Lost Rs 7,800 Crore Revenue Due To Tax Concessions," Says Centre: Highlights
Finance Minister Nirmala Sitharaman announced reforms in seven key areas,including MGNREGA, healthcare and education, ease of doing business, in the fifth and final tranche of economic stimulus package to deal with the economic fallout of the COVID-19 pandemic. also announced an increase in borrowing limit forstates from 3 per cent to 5 percent. Th...
-
Will Your Income Tax Change? New Report Given To Finance Ministry
A Direct Tax Code task force constituted by the government has proposed a new taxation system that will bring about dramatic changes to the age-old Income Tax Act-1961, providing concessions to tax-payers and enhancing their spending power amid an alarming economic slump.
