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  • Tax dept conducts survey on Air India's engineering arm

    Tax dept conducts survey on Air India's engineering arm

    Income tax officials have recently turned towards the government-owned airline Air India, to check in on its subsidiary AIESL (Air India Engineering Services). The airline, which has been delaying salary payments and even GST, however, said nothing was amiss. The TDS survey was done to ensure that it was depositing the taxes deducted at source.

    Three years after notebandi, ‘corrupt’ jewellers face heat

    Three years after notebandi, ‘corrupt’ jewellers face heat

    Armed with data, tax authorities have cracked the whip on jewellers who made huge cash deposits post demonetisation in 2016 but could not explain how they generated so much money when they were showing low income in their tax returns.

    Medium scale companies may be given credit risk cover

    Medium scale companies may be given credit risk cover

    The Credit Guarantee Fund Trust for Micro and Small Enterprises, run by the government and financial institution Sidbi, has floated a consultation paper to banks, where it has estimated that it will get business of around Rs 4,000 crore during the first year.

    Government eyes curbs on toys, TV set imports

    Government eyes curbs on toys, TV set imports

    Sources said there have been suggestions to restrict toy imports, for which several steps such as a quality control order as well as stringent standards have been worked out. Similarly, there have been issues with white goods, especially TV sets, with several domestic players, too, relying on cheap imports from China and Southeast Asian countries.

    No duty cuts to soften fuel spike: Oil Minister Dharmendra Pradhan

    No duty cuts to soften fuel spike: Oil Minister Dharmendra Pradhan

    Brent prices crossed the $71-a-barrel mark early Wednesday morning after Iran launched a missile attack, but softened later in the day. Since last year, Brent prices have jumped nearly 15% and were trading around $68 a barrel. Over the past year, the increase in pump prices of diesel and petrol has been around 10%.

    GST evaders set to face stricter scans

    GST evaders set to face stricter scans

    The idea is to improve upon the red flags, which have helped the government improve compliance, resulting in filing of the GSTR-3B forms rising over 12% to 81 lakh returns by the December 20 deadline.

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