Three trade bodies have moved the Supreme Court against a new income tax provision related to payment to micro and small enterprises. Federation of All India Vyapar Mandal, Federation of Madras Merchants and Manufacturers Association and Confederation of West Bengal Trade Associations have sought interim stay and finally quashing the amendment in the Income Tax … Read more
The Finance Ministry has fixed a timeline for scrapping various types of vehicles and placing fresh orders. This is a part of new guidelines to write off losses under revised Delegation of Financial Power Rules (DOFR). These rules have set the threshold for writing off losses in case of theft, fraud, etc. Also read: PV … Read more
The Ministry of Finance on Sunday clarified that there is no new change in the tax regime that is coming into effect from April 1. Just a day ahead of the interim budget’s income tax proposals coming into effect, the finance ministry debunked the spread of misinformation concerning the new tax regime. Late on Sunday, … Read more
The Finance Ministry has imposed definitive anti dumping duty on Cast Aluminium Alloy Wheels or Alloy Road Wheels (ARW) imports from China. The definitive anti dumping duty, valid for five years, ranges from $ 0.23 per kg to $ 1.71 per kg depending on the producer from China. Cast aluminium alloy wheels or ARW is … Read more
Finance Minister Nirmala Sitharaman on Friday, virtually launched seven infrastructure projects worth over ₹1,000 crore, the Finance Ministry said. Also read: Government saved over ₹20,000 crore through new accounting mechanisms, says FM Sitharaman In her address on the occasion, Sitharaman said it is important to ensure that projects are planned and completed without delays and … Read more
The fate of the proposed Development of Enterprise and Service Hubs (DESH) Act, set to overhaul SEZ rules to turn them into more inclusive economic hubs, is likely to be decided by the new government that comes in after the general elections in the country, sources have said. Also read: Broker’s call: Adani Ports & … Read more