Page 6 - Taxes

Low rate regime: Why corporation tax is a hit but not personal tax?

While the new corporation tax regime has drawn a good response, the personal income tax regime seems to have attracted only a lukewarm response

UK PM race: Liz Truss rules out new taxes, energy rationing in last pitch

Truss made the commitments at the last Conservative Party leadership hustings in London on Wednesday, ahead of the victor being announced Sept 5

Medicine purchases by inpatients exempt from GST, says Tamil Nadu AAR

But says drugs, consumables purchased by outpatients in the course of treatment will be taxed

Govt earning more from taxes on common people than on corporates: Rahul

Former Congress president Rahul Gandhi on Sunday accused the government of imposing high taxes on common people and reducing tax to its "friends". Taking to Twitter, he also shows a graph alleging that the government is earning more revenue from taxes on common people and less from corporates due to lower tax. "Raise taxes on people, cut taxes for Mitron - the 'natural course' of action for suit-boot-loot sarkar," Gandhi said in a tweet, while sharing the graph. The graph shared by him gave a comparison of "less tax on people versus more tax on people", which shows that corporate tax over the years is coming down and tax on people is going up. The graph also showed that the percentage of revenues collected by the government over the years is higher from people than from corporates. The graph showed that in 2010 the revenue collected through tax on corporates was over 40 per cent against 24 per cent revenue from tax on people. The graph shows that in 2021, the revenue collected fro

Centre garners Rs 3,000 crore from windfall tax on oil and gas firms

It is likely to continue with the levy till the Indian basket of crude is above $80 a barrel

States' share in central taxes come down to 29-32% against recommended 41%

The previous five years saw the states' share, except for 2019-20, in between 34.5% and 37%, whereas the recommendation was to give them a 42% share

Senate Democrats approve big Biden deal worth $740 bn; House to vote next

Democrats pushed their election-year economic package to Senate passage, a hard-fought compromise less ambitious than Biden's original domestic vision but one that still meets deep-rooted party goals

Here's what to expect from Senate's tax, climate and healthcare bill

After more than a year of stop-and-start negotiations, Democrats on Sunday agreed to a narrow bill to invest in energy initiatives, curb drug prices and reduce the deficit

States seek a raise in central taxes, call for extending GST compensation

NITI Aayog is mandated to boost cooperative federalism in the country

CM Baghel urges Centre to increase Chhattisgarh's share in central taxes

Chhattisgarh Chief Minister Bhupesh Baghel on Sunday urged the Centre to increase the state's share in the central taxes and duties, citing rising burden on its resources, an official said here

Top headlines: Windfall tax, India's 5G market, US Fed rates, and more

India to account for about 15% of worldwide market for the 3.5 GHz-based 5G radio and network: Global telecom gear makers

Vote against reappointment of Harsh Mariwala: SES to Marico's shareholders

Seeks approval for revision in remuneration payable to Marico's cost auditors

Windfall tax: Frequent changes create uncertainty for Indian oil producers

Experts say move is justified but government should clarify how proceeds will be utilised

India's tally of crorepatis at 131,000 as 6,000 new ones added in FY22

There was also a significant rise in number of people who declared their income between Rs 10 lakh and Rs 1 crore, data from the Finance Ministry showed

No new tax or VAT increase in Uttar Pradesh, announces CM Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath on Friday said that keeping in mind the larger public interest, the government has neither increased the VAT and nor has imposed any new tax in the state

Prompt grievance redressal of taxpayers top priority: CBDT chairman

Prompt redressal of taxpayers' grievances remains the top priority for the tax department, the newly appointed chairman of Central Board of Direct Taxes (CBDT) Nitin Gupta said on Sunday

'No tax should be levied on common man's items': Kerala on GST hike

Kerala Finance Minister KN Balagopal said the state had repeatedly expressed its reservations over imposing GST on certain packaged food items, contradicting Union Finance Minister's claims

Talk of socialism adds spice to abrasive UK leaders' debate in race for PM

Rishi Sunak accused Foreign Secretary Liz Truss and former Defence Secretary Penny Mordaunt, his two closest rivals, of "socialism" as he attacked their plans to cut taxes and borrow more

CBIC to issue SOP for GST summons to stop harassment of businesses

The new SOP will make officials more accountable and will also make the entire process transparent

Delhi HC asks ED to consider Vivo's representation on freeing bank accs

ED's money-laundering probe into Vivo revealed the company, to avoid paying taxes in India, remitted about Rs 62,476 crore of its turnover to China between 2017 and 2021