The debate surrounding the taxation of health and life insurance premiums in India has taken a significant turn with the recent consensus among members of the Goods and Services Tax (GST) Council to consider reducing the current 18 per cent levy.
This includes Rs 7,15,224 crore in Tax Revenue (Net to Centre), Rs 3,01,796 crore in Non-Tax Revenue, and Rs 6,386 crore in Non-Debt Capital Receipts.
The Goods and Services Tax Network (GSTN) is organising the GST Analytics Hackathon, an initiative to drive innovation in tax compliance through predictive analytics.
India's net direct tax collection surged by 22.5 per cent to Rs 6.93 lakh crore during the current financial year so far (April 1 to August 11) which is expected to keep the country firmly on the path of fiscal consolidation.
The Centre on Tuesday informed that it collected nearly Rs 98,681 crore from long-term capital gains (LTCG) tax in FY23, a nearly 15 per cent growth from Rs 86,075 crore in FY22.
Earlier, in the name of making property tax uniform across Delhi, rates were hiked for North and East Delhiites. Now, other types of trivial methods are being resorted to. Corporation officials are trying to bring maximum properties out of 25 lakh properties under the wealth tax net.
State governments have received a total of Rs 1,16,665.75 crore as against the normal monthly devolution of Rs 58,332.86 crore.
Monday's surprise search and seizure of documents at Mar-a-Lago elicited a forceful reaction from top Republican and conservative officials, many of whom condemned the federal law enforcement agencies, talked openly of retribution and even spoke of defunding them outright, reports dpa news agency.
But the D.C. Circuit panel wrote that they could only analyse what Neal wrote in his request, not statements by other members of Congress about what they may do with Trump's returns once they have them.
The Income Tax Department on Friday said that they carried out a search and seizure operation recently on an ex-fund manager and chief trader of equities of a prominent mutual fund house, along with related sharebrokers, middlemen, and entry operators.
