Govt exempts customs duty, cess on ventilators, surgical masks, PPE, Covid-19 test kits
“In the context of Covid-19 situation, considering the immediate requirement of ventilators and other items, the Central Government has granted exemption from Basic Customs Duty and Health cess, on the import of these goods, with immediate effect,” the government said in a statement late Thursday evening.
81% employers feel new income-tax regime not to benefit staff: Survey
While organisations will have to look for innovative nudges to ensure t...
These FASTag lanes to be temporarily converted to hybrid lanes
The relaxation is extended for 30 days from February 14, 2020, these 30 fee pl...
How to link PAN with Aadhaar
The government in the Union Budget 2017 had introduced a law making it mandatory for every individual having a PAN to link with their Aadhaar number. Here are different ways to link the same. The last date to link PAN with Aadhaar is March 31, 2021.
Explaining Budget proposals: Headed for lower tax and no exemptions, says FM
Sitharaman says taxpayers falling in certain brackets will gain from new regime, govt not exiting LIC.
Exemption for SWFs should boost Infra play; clarity awaited
Abolition of DDT is also expected to benefit yield-seeking infrastructure investors.
Six income tax slabs in, 70 exemptions out: Impact on taxpayers
Salaried taxpayers who opt for the new regime will have to forgo the standard deduction as well as exemptions under chapter VI-A, including HRA, investments under 80C, medical insurance premium, even LTA.
Insurance stocks tank up to 10% as FM disappoints on exemptions
Street was expecting further tax exemptions from the Finance Minister in the budget.
Budget 2020: Tax exemption for sovereign funds to boost India infra play
Apart from The National Investment and Infrastructure Fund (NIIF) - the country’s only sovereign wealth fund, India has already seen a large pool of infrastructure investments by global sovereign wealth funds such as Singapore based GIC, Temasek Holdings and Middle East based Abu Dhabi Investment Authority.
Coronavirus impact: I-T dept allows more time to individuals to file TDS exemption forms
In an order, the Central Board of Direct Taxes (CBDT) said the 15G and 15H forms submitted last fiscal will remain valid till June 30, 2020, since the Covid-19 pandemic has caused severe disruption in all sectors of the economy. While Form 15H is submitted by senior citizens, 15G can be filed by an individual whose taxable income is less than the exemption threshold.
Data Bill likely to retain exemptions for scribes
Journalists will have to comply with the code of ethics put down by the Press Council of India or “any media self-regulatory organisation,” the draft of the Bill had said, and top officials in the government said this would be retained in the final Bill as well. Exemption to journalists from major parts of the draft had come up during deliberations.
State governments not keen to levy GST on exempted goods
“Goods on the exempted list are mass-consumption items. No state will agree to include them,” said the finance minister of a BJP-ruled state. West Bengal FM Amit Mitra also dismissed the GST Council secretariat’s suggestion for a review of the exempted items. The secretariat had shot off a letter to states seeking a revision of exempted items.
Govt exempts procurement agencies, mandis, farming operations, farm workers from lockdown rules
The directive comes in the wake of farmers facing problems in harvesting their rabi crops and bringing them to the mandis in the wake of a nationwide lockdown to contain spread of coronavirus. Harvesting of rabi (winter) crops such as wheat, mustard, corn and pulses has begun in some places and will pick up in the coming months.
Foreign-trained Indian docs seek exemption from mandatory exam, say could add 20,000 medics
According to government rules, any Indian citizen possessing a primary medical qualification awarded by a foreign institution who wants provisional or permanent registration with Medical Council of India or any state's medical council needs to qualify a screening test (Foreign Medical Graduates Examination or FMGE) conducted by the MCI through the National Board of Examinations (NBE).
Suppliers of essential goods, including restaurants supplying home delivery of cooked food items exempted from lockdown: MHA
Constituents of supply- chain be allowed to operate as availability of essential goods takes place through small local retail shops, large organised retail stores and e-commerce companies, read the notification.