Tag: Taxes

An amount of Rs 2,01,108 crore has been transferred to state governments as devolution of share of taxes by the Centre up to July, 2022, which is Rs 36,044 crore higher than the previous year.

Cuttack: In a major setback to Odisha government, the Orissa High Court has ordered to keep in abeyance the demand notice that it had issued to Indian Oil Corporation Ltd (IOCL) to recover pending taxes to the tune of Rs 1,485 cr. As per the order, no action can be taken on the matter till […]

New Delhi: The government has exempted rupee payments made to Iran’s national oil company NIOC towards the purchase of crude oil from payment of any tax, according to a Gazette notification. The finance ministry in a December 28, 2018 Gazette notification said the National Iranian Oil Company (NIOC) will not have to pay any withholding […]

Sambalpur: In a bid to promote cashless transactions, Sambalpur Municipal Corporation (SMC) is all set to use swipe machines for collection of taxes shortly. Deputy Commissioner of the SMC, Sudhansu Bhoi said, “We have already asked the HDFC bank to provide us two swipe machines. While one swipe machine will be installed at the office of […]

Jharsuguda: In order to evade taxes, people resort to various illegal methods little aware of the age old proverb that ‘nothing is certain but death & taxes.’ In one such incident, a trader in Sarbahal area of Jharsuguda, has put himself in trouble by lodging a fake complaint of cash robbery to evade taxes. As […]

New Delhi: The economic crisis triggered by the Covid-19 pandemic and subsequent pressure on revenues may again push the Centre to raise excise duty on petrol and diesel. Sources indicated that another Rs 3-6 per litre increase in excise duty on petrol and diesel may come soon if the government felt the need to mobilise […]