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Maharashtra Scraps Six Percent EV Tax Plan to Boost Adoption
Maharashtra has dropped a 6 percent sales tax proposal on EVs priced above $35,000 (roughly Rs. 30 lakh) to boost adoption in India, where EV sales remain low at 2 percent of four million cars sold last year. Chief Minister Devendra Fadnavis cited unnecessary disincentivisation, while the federal goal aims for 30 percent EV adoption by 2030.
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Modi 3.0's Tax Exemption Limit Is Biggest Ever Since 2005
The Union Budget 2025-26 presented by Nirmala Sitharaman declared that there will be no income tax payable up to a total income of Rs 12 lakh.
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Opinion | Why Over Half Of All Income Tax Filings In India Are Zero-Tax
In terms of value, 84% of corporate filers contributed almost nothing to the total corporate tax collections of Rs. 7.16 lakh crore in the assessment year 2023-24.
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Opinion | How Partition Shaped Independent India's First Three Budgets
The first budget of Independent India described the Partition (1947-48) as the "most poignant human tragedy" outside of war. Of the total non-defence expenditure of Rs 104.5 crore, Rs 27 crore was earmarked for relief and rehabilitation.
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Union Budget 2025: Tax Deduction Terms You Should Know Ahead Of Budget
Tax Deductions: A tax deduction is an expense or expenditure that can be subtracted from an individual's or business's total income, resulting in a lower taxable income.
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Inclusion Into Startup Initiatives, Risk Mitigating Policies: BWA Lists Web3 Needs for Upcoming Government
The BWA, in a recent announcement, listed some immediate steps that the upcoming government could consider aiming to grow the blockchain-based sector. Providing escrow accounts and banking services for owners of Web3 businesses, allowing offsetting of losses, and reducing the one percent TDS tax law to 0.01 percent are among suggestions given by th...
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ITR Filing Last Date 2024: Due Dates For Filing Income Tax Returns, TDS, Advance Tax Payments
Advance tax payment is required if your total tax liability reaches or exceeds Rs.10,000 in a financial year.
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JSW Says MG Motor Joint Venture Aims to Sell 1 Million EVs in India by 2030
A joint venture between Indian conglomerate JSW Group and MG Motor expects to have sold 1 million electric vehicles in India by 2030 and corner a third of the market, a JSW executive said.
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R Madhavan "Totally Impressed" As Firm Gets Income Tax Return In 3 Weeks
"The speed and promptness is simply unheard of," the actor said in his post on social media.
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Restaurant Bodies Fined Rs 2 Lakh For Challenging Service Tax Ban
Delhi High Court has imposed total costs of Rs 2 lakh on two restaurant bodies for failing to comply with an order passed in relation to their challenge to the guidelines prohibiting hotels and restaurants from automatically levying service charge.
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US Scraps Excise Tax Proposal on Bitcoin Mining After Biden Refuses to Slash Crypto Taxes
Earlier this month, the US’ Council of Economic Advisors (CEA) floated a proposal to have Bitcoin miners pay a tax equal to 30 percent of the total energy cost that they consumed in the crypto mining process. The proposal has been scrapped by the US. The decision to pull the plug on this proposal could be part of a bunch of tax-related rebates in...
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US President Joe Biden Calls Proposal to Reduce Crypto Tax ‘Unacceptable’ Amid Debt Pressure: Report
US President Joe Biden has outrightly denied even mulling over the proposal for the US to reconsider the tax it has levied on crypto activities. The US levies 10 percent to 37 percent tax on short-term capital gains and crypto income whereas long term capital gains are taxed between zero percent to 20 percent.
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US Government May Impose Disciplinary 30 Percent Taxes on Crypto Miners: Details
The US is mulling on imposing a punitive tax on companies and individuals indulging in crypto mining in the country. Soon, the US could ask crypto miners to pay a tax equal to 30 percent of the total energy cost that they consume in mining cryptocurrencies.
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Taxes on Crypto Mining Power Use to Spike Next Year in US, Plan Outlined
The US government has proposed to raise the taxes on the electricity requirement for miners. The tax imposed on the electricity usage by crypto mining firms could now go as high as 30 percent of total cost of the electricity that was used to facilitate the mining process in the US.
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India's Fiscal Deficit For April-December Reaches 60% Of Full-Year Target
Net tax receipts rose to 15.56 trillion rupees while total expenditure was 28.18 trillion rupees, government data showed.
-
Maharashtra Scraps Six Percent EV Tax Plan to Boost Adoption
Maharashtra has dropped a 6 percent sales tax proposal on EVs priced above $35,000 (roughly Rs. 30 lakh) to boost adoption in India, where EV sales remain low at 2 percent of four million cars sold last year. Chief Minister Devendra Fadnavis cited unnecessary disincentivisation, while the federal goal aims for 30 percent EV adoption by 2030.
-
Modi 3.0's Tax Exemption Limit Is Biggest Ever Since 2005
The Union Budget 2025-26 presented by Nirmala Sitharaman declared that there will be no income tax payable up to a total income of Rs 12 lakh.
-
Opinion | Why Over Half Of All Income Tax Filings In India Are Zero-Tax
In terms of value, 84% of corporate filers contributed almost nothing to the total corporate tax collections of Rs. 7.16 lakh crore in the assessment year 2023-24.
-
Opinion | How Partition Shaped Independent India's First Three Budgets
The first budget of Independent India described the Partition (1947-48) as the "most poignant human tragedy" outside of war. Of the total non-defence expenditure of Rs 104.5 crore, Rs 27 crore was earmarked for relief and rehabilitation.
-
Union Budget 2025: Tax Deduction Terms You Should Know Ahead Of Budget
Tax Deductions: A tax deduction is an expense or expenditure that can be subtracted from an individual's or business's total income, resulting in a lower taxable income.
-
Inclusion Into Startup Initiatives, Risk Mitigating Policies: BWA Lists Web3 Needs for Upcoming Government
The BWA, in a recent announcement, listed some immediate steps that the upcoming government could consider aiming to grow the blockchain-based sector. Providing escrow accounts and banking services for owners of Web3 businesses, allowing offsetting of losses, and reducing the one percent TDS tax law to 0.01 percent are among suggestions given by th...
-
ITR Filing Last Date 2024: Due Dates For Filing Income Tax Returns, TDS, Advance Tax Payments
Advance tax payment is required if your total tax liability reaches or exceeds Rs.10,000 in a financial year.
-
JSW Says MG Motor Joint Venture Aims to Sell 1 Million EVs in India by 2030
A joint venture between Indian conglomerate JSW Group and MG Motor expects to have sold 1 million electric vehicles in India by 2030 and corner a third of the market, a JSW executive said.
-
R Madhavan "Totally Impressed" As Firm Gets Income Tax Return In 3 Weeks
"The speed and promptness is simply unheard of," the actor said in his post on social media.
-
Restaurant Bodies Fined Rs 2 Lakh For Challenging Service Tax Ban
Delhi High Court has imposed total costs of Rs 2 lakh on two restaurant bodies for failing to comply with an order passed in relation to their challenge to the guidelines prohibiting hotels and restaurants from automatically levying service charge.
-
US Scraps Excise Tax Proposal on Bitcoin Mining After Biden Refuses to Slash Crypto Taxes
Earlier this month, the US’ Council of Economic Advisors (CEA) floated a proposal to have Bitcoin miners pay a tax equal to 30 percent of the total energy cost that they consumed in the crypto mining process. The proposal has been scrapped by the US. The decision to pull the plug on this proposal could be part of a bunch of tax-related rebates in...
-
US President Joe Biden Calls Proposal to Reduce Crypto Tax ‘Unacceptable’ Amid Debt Pressure: Report
US President Joe Biden has outrightly denied even mulling over the proposal for the US to reconsider the tax it has levied on crypto activities. The US levies 10 percent to 37 percent tax on short-term capital gains and crypto income whereas long term capital gains are taxed between zero percent to 20 percent.
-
US Government May Impose Disciplinary 30 Percent Taxes on Crypto Miners: Details
The US is mulling on imposing a punitive tax on companies and individuals indulging in crypto mining in the country. Soon, the US could ask crypto miners to pay a tax equal to 30 percent of the total energy cost that they consume in mining cryptocurrencies.
-
Taxes on Crypto Mining Power Use to Spike Next Year in US, Plan Outlined
The US government has proposed to raise the taxes on the electricity requirement for miners. The tax imposed on the electricity usage by crypto mining firms could now go as high as 30 percent of total cost of the electricity that was used to facilitate the mining process in the US.
-
India's Fiscal Deficit For April-December Reaches 60% Of Full-Year Target
Net tax receipts rose to 15.56 trillion rupees while total expenditure was 28.18 trillion rupees, government data showed.
