Hardcastle wants higher GST & input tax credit
The move could have a huge implication for the country’s restaurant sector Restaurants across India, such as McDonald’s and Pizza Hut, are currently levied 5% GST and they cannot claim ITC on the tax paid on expenses, including raw materials and rent.
NPS partial withdrawal rules and how it is taxed
NPS offers two types of accounts for an individual - Tier-I and Tier -II. It is mandatory to...
CBDT seeks to widen net for appointment of members, makes younger officers eligible for post
Till a couple of years ago, only officers of the...
Buildings composting green waste in Nashik to get 5% concession in property tax
The move is aimed at reducing the waste that the civic body collects from households on a daily basis and that will in turn save money spent on the collection of waste.
Tax optimiser: Salaried Kumar can save over Rs 68,000 in tax via NPS, perks
Not only should you ask your employer for the NPS benefit, but you should also invest in the scheme on your own. You can reduce your tax outgo significantly. Hence in this way, you can optimise your tax by rejigging your income and investments.
9.2 million MSMEs to benefit from fintech era, 49% of them still prefer traditional lending over digital: Survey
Illustrating the increasing popularity of digital payment technology in recent times, the report, by digital payment solution provider further highlights that currently digital payment technology is marked by a high level of MSME user satisfaction.
Vodafone Idea presses for Rs 7,000 cr tax refund; I-T dept hesitant in view of fresh liability
The I-T dept is caught in a bind as Voda Idea has to pay Rs 44,150 crore to govt in past statutory dues.
Slowdown in auto sector cyclical; government taking steps to support the sector
Minister of Heavy Industries and Public Enterprises Prakash Javadekar said the sector is facing a prolonged downturn due to various reasons, including reduction in finance availability and increase in cost due to upfront collection of insurance premium.
Exporters voice concern at disabling of benefits
Exporters found that the claims from the period August 1, 2019 were disabled by DGFT. They were expecting MEIS to continue till March 31 2020, when the new foreign trade policy (FTP) comes in place. “FTP has a good legal framework for trade facilitation. Sustained growth in exports needs policy continuity adhering to the duration clause of FTP,’ he said.
Software isn’t manufacturing, won’t be eligible for 15% tax rate
The amendment comes after industry sought clarity on whether software development could be treated as manufacturing and be eligible for the reduced tax rate. On September 20, FM Sitharaman slashed the corporate tax rate to 22% for companies that do not seek exemptions or incentives, and to 15% — from the current 25% — for new manufacturing companies.
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How FedEx cut its tax bill to $0
The public face of its lobbying effort, which included a tax proposal of its own, was FedEx’s founder and chief executive, Frederick Smith, who repeatedly took to the airwaves to champion the power of tax cuts. “If you make the United States a better place to invest, there is no question in my mind that we would see a renaissance of capital investment,”.
One nation, one ration card: Inside food ministry's ambitious scheme to make ration cards portable
The food ministry is moving towards making ration cards portable to help migrant workers.
Most tech can be shaped to have more benefits than negatives: Bill Gates
Gates is on a three-day visit to India to assess the work that his foundation is carrying out here.
Finance Commission likely to get extension for working on devolution to UTs of J&K, Ladakh
According to the Act, the distribution of taxes suggested by the 15th Finance Commission to the state of Jammu and Kashmir will have to be apportioned to the Union Territories of J&K and Ladakh. The award made by the Fourteenth Finance Commission to the existing state of Jammu and Kashmir will be apportioned between the successor Union territories of J&K and Ladakh.
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