Tax
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Hyderabad News
Tax collection in Hyderabad dips by 24.1% amidst pandemic
Hyderabad: As the businesses are reeling under the impact the COVID-19 induced lockdown, the overall tax collections up to October 17, 2020-21 fell to Rs. 3.7 lakh crore, as against Rs.…
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Entertainment
Rajinikanth pays tax to corporation for entire year
Chennai: Top actor Rajinikanth on Friday paid a property tax of Rs 6.39 lakh for the second half-year of 2020-21 for his marriage hall here to the Greater Chennai Corporation.…
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India
Vodafone wins arbitration against India for tax demand of Rs 20K crore
New Delhi: Vodafone has won the case against India over a retrospective tax demand of more than Rs 20,000 crore. The Permanent Court of Arbitration (PCA) at The Hague has…
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India
No proposal to include high-value transactions in IT Return: Sources
New Delhi: There is no proposal to modify Income Tax returns forms, said Finance Ministry sources when asked to comment on the news reports that appeared in certain sections of…
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News
Govt pursuing people-friendly tax policies for better compliance: PM Modi
New Delhi: Prime Minister Narendra Modi on Thursday emphasised the role of tax compliance in nation-building and said the government is following a policy-driven governance model. “The emphasis is on making every…
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Automobile
Auto LPG industry seeks policy support, tax concessions
New Delhi: Faced with serious challenges amid the coronavirus crisis, the automobile gas industry is seeking urgent policy help from the government to be able to support itself post the lockdown.…
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Pakistan
PBC concerned over tax collection targets for new fiscal year
Karachi: The Pakistan Business Council (PBC) on Wednesday expressed concern over an increase in the tax collection targets being set by the government for the upcoming fiscal year. The PBC said…
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Business
Taxing retirement income of employees a retrograde step
New Delhi: The Union Budget for 2020 contains direct tax proposals in the Finance Bill to tax the retirement fund of an employee, which has been called a retrograde step…
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Business
Biocon chief hails promise on ending tax harassment
Bengaluru: Biocon Chairperson Kiran Mazumdar-Shaw on Saturday lauded Union Finance Minister Nirmala Sitharaman for promising to end tax harassment of India Inc and changing the Companies Act to decriminalise many…
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India
Raising basic exemption limit on Budget agenda
New Delhi: As the clamour grows for more money into the pockets of consumers and households to boost consumption in the economy, the government is discussing multiple options on cuts in…
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India
‘Govt to stick to fiscal glide path, tax revenues to be higher’
New Delhi: The government will continue to follow the glide path to fiscal consolidation but would not cut any expenditure in the process as the entire exercise would become more targeted…
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World
Sri Lanka’s new gov’t announces wide ranging tax reliefs
Colombo: Sri Lanka’s newly appointed interim cabinet has announced wide ranging tax reliefs including reductions in Value Added Tax (VAT) and telecommunications levies, local media reported Wednesday. Following the first…
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India
Tax on gold in the pipeline
New Delhi: Central Govt. is likely to take a surprising decision very soon. It is about the quantum of gold each family should possess. Govt. propose to impose heavy taxes…
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Middle East
Saudi Arabia’s new 100% shisha tax sparks fury
Riyadh: A decision to impose a 100 percent tax on bills at restaurants that serve shisha has ignited criticism on social media in Saudi Arabia, where the water pipes are…
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India
Goa cuts road tax by 50% for all new vehicles
Panaji: In a bid to incentivise purchase of new vehicles, the Goa cabinet on Wednesday rolled back road tax by 50 per cent for all new vehicles till December 31,…
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Business
Corp tax cut credit positive, but raises fiscal risks: Moody’s
Mumbai: Corporate tax reduction is credit positive for companies but increases the government’s fiscal risks, global rating agency Moody’s said on Saturday. On September 20, Finance minister Nirmala Sitharaman announced…
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Automobile
No impact on social sector spending due to tax shortfall: FM
Kolkata: Finance Minister Nirmala Sitharaman on Friday ruled out any scaling down of the social sector spending due to any possible shortfall of tax revenues. “Any tax collection shortfall will…
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India
Corporate tax to be cut gradually: Sitharaman
New Delhi: Finance Minister Nirmala Sitharaman on Monday said corporate tax rate for companies with over Rs 400 crore turnover will be gradually cut to 25 per cent and the government…
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News
Sitharaman on why she taxed super rich more
Chennai: Finance Minister Nirmala Sitharaman on Saturday said the tax on the super rich is a small expectation from them to contribute a little more for the poor. She was here…
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News
Budget extends tax on NRIs for receiving gifts from resident Indians
New Delhi: The expensive gift that you kept for your overseas cousin or friend may attract tax from this year with the Budget 2019-20 proposing to impose withholding tax all…
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Hyderabad News
GHMC appeals citizens to pay property tax by June 30 and escape penalty
Hyderabad: Stating that the GHMC has collected only 605-crore Property Tax out of Rs 1,800 crore for 2019-20 financial year, Commissioner M Dhana Kishore today appealed to the citizens to…
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Business
Government should frame tax-friendly SEZ policy: Nasscom
New Delhi: Recommending measures to be taken for the IT industry in the upcoming general budget, IT industry’s apex body Nasscom said that the government should frame a tax-friendly policy…
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Pakistan
Imran Khan to form high-powered commission to probe corruption
Islamabad [Pakistan]: Pakistan Prime Minister Imran Khan late on Tuesday announced that he will form a high-powered commission to investigate graft in the last one decade, at a time when…
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Business
Fuel tax rejig, infra required to spur air traffic growth
New Delhi/Mumbai: The downtrend in air passenger traffic might continue unless the new government takes steps to reduce airfares via rationalization of jet fuel taxes and infrastructure creation to spur…
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Business
India’s middle class, neo-middle class to be largest vote component in 2024 polls: Jaitley
New Delhi: Noting that India’s socio-economic character has significantly altered in the past few years, Finance Minister Arun Jaitley said on Thursday that the country’s middle class and neo-middle class…
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India
FY19 direct tax collections fall short by Rs 50k cr
New Delhi: Direct tax collections have fallen short by Rs 50,000 crore thereby failing to meet the revised target of Rs 12 lakh crore for 2018-19 fiscal on account of…
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Health
Smoking reduces due to tobacco control policies
Washington: Increasing taxes on tobacco and smoke-free policies have resulted in the reduction of smoking among older adults, according to a recent study. This was noted in the European countries…
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News
Bengaluru tax defaulter held in Mumbai, jailed for 6 months
Bengaluru: A Bengaluru businessman was arrested in Mumbai and jailed for six months here for allegedly defaulting on payment of Rs 11.94 crore as income tax and penalty arrears, said…
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Business
CBDT refutes media reports about en masse issuance of prosecution notices to TDS defaulters
New Delhi: The Central Board of Direct Taxes (CBDT) on Sunday refuted reports regarding en masse issue of prosecution notices to small companies for TDS default, terming them as “completely…
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