In drawing down the cost of logistics in the country the GST has played an effective role. The ‘One Nation, One Tax‘ regime has assured that trucks did not need to wait for hours on the state borders which has drawn down the travel time by up to 30%. It has diminished the cost of logistics and increased the average distance trucks travel from 225 km before GST to 300-325 km, the Economic Survey 2023-24 tabled in Parliament articulated. It adds value to facilitate in performing the business and the…
Category: Income Tax for the West Bengal Govt employees
Deadpool and Wolverine early reviews call it Marvel’s best since Avengers Endgame: ‘High energy ode to superhero cinema’ | Hollywood News
The early reviews from the New York premiere of Deadpool and Wolverine are out, and they won’t be a surprise any Marvel fan: It is already billed as one of the most entertaining superhero films of recent times. Starring Ryan Reynolds and Hugh Jackman in the titular role, Deadpool and Wolverine had its world premiere days ahead of its July 26 release. Directed by Shawn Levy (Night at the Museum: Secret of the Tomb, Free Guy fame), the film features Reynolds and Jackman as Deadpool and Wolverine, respectively, alongside Emma…
FM reiterates intent to stick to fiscal consolidation path, lowers fiscal deficit target to 4.9% for FY25 from 5.1% in interim Budget | Business News
Even as the government announced schemes to boost employment and assistance to some states in Union Budget 2024-25, it reiterated its intent to stick to the fiscal consolidation roadmap and announced a lower fiscal deficit target. In what could be a signal to rating agencies, the government cut the fiscal deficit target to 4.9 per cent of the Gross Domestic Product (GDP) for financial year 2024-25 from 5.1 per cent in the interim Budget, while underlining that the central government debt will be on a declining path as a percentage…
Kerala HC Allows South Indian Bank to Receive IT Deduction for Long-Term Residential Property Financing
It was ruled by the Kerala High Court that the South Indian Bank is entitled to the deduction envisaged u/s 36(1)(viii) of the Income Tax Act concerning the long-term finance furnished by it for the construction and purchase of houses in India for residential purposes. The appellant-bank/assessee South Indian Bank Ltd is in the business of furnishing housing loans for the purchase of the construction of houses and had been receiving the advantage of the deduction mentioned u/s 36(1)(viii) in the years before the amendment. The disallowance was derived as…
Budget’s big MSME push: New credit rating mechanism for smaller units; Mudra loan limit hiked | Business News
Finance Minister Nirmala Sitharaman in Budget 2024-25 increased the limit of Mudra loans from Rs 10 lakh to Rs 20 lakh and introduced a new assessment model for MSME credit. Sitharaman said that for facilitating term loans to MSMEs for purchase of machinery and equipment without collateral or third party guarantee, a credit guarantee scheme will be introduced and that the scheme will operate on pooling of credit risks of such MSMEs. “A separately constituted self financing guarantee fund will provide to each applicant guarantee cover up to 100 crore…
Graduate student dies by suicide in UP, four arrested for ‘harassment and threatening’ | Lucknow News
Four members of a family, including a couple and their two sons, were arrested on Tuesday for allegedly harassing a graduate student, who allegedly died by suicide in her house, in Hardoi. The police claim to have recovered a suicide note. On Monday morning, the police received the information that the second-year graduate had died by suicide, following which, the police team rushed to the spot. Later, the girl’s family produced a suicide note, which they claimed to have recovered from the victim’s room. The family told police that the…
Education Sector Expects GST Reduction and More Infrastructure
Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget 2024 on July 23. Yesterday, Sitharaman participated in the Halwa ceremony, which marks the final stage of budget preparation and precedes the lock-in process for officials involved in the budget. The ed-tech sector has high expectations from the budget 2024, including hopes for reduced GST, improved digital infrastructure, and more favourable policies. Prateek Maheshwari, co-founder of PhysicsWallah and chair of the India EdTech Consortium (IEC), has advocated for a complete exemption of GST on all educational expenses for students…
Budget 2024-25: Will it pick the cues from the Economic Survey or carry through the themes of the maiden budgets from the last two terms | Business News
A new paradigm of inflation targeting, boosting private sector investment, tackling the employment and skills conundrum, unshackling micro, small and medium enterprises (MSMEs), reorienting India’s agriculture sector and managing the country’s green transition could be some of the key themes to look for in the Union Budget for 2024-25, if the cues in the Economic Survey for 2023-24 released Monday are anything to go by. Finance Minister Nirmala Sitharaman will be presenting the Union Budget for 2024-25 today, her sixth full budget and the first one in the third term…
Kamala Harris surpasses number of delegates needed to become party’s presidential nominee: Report
Vice President Kamala Harris surpassed the number of delegates needed to claim the Democratic presidential nomination on Monday night, campaign sources told Reuters. According to an Associated Press tally, Harris had 2,214 delegates, well beyond the simple majority needed to clinch the nomination on the first ballot. The survey is unofficial, the AP said, as Democratic delegates are free to vote for the candidate of their choice when the party formally chooses its candidate. [ad_2] Source link
Delhi confidential: Rain Stance | Delhi Confidential News
A brief spell of rain on Monday afternoon caught some MPs unawares on the Parliament complex. Samajwadi Party president Akhilesh Yadav, MPs Zia ur Rehman Barq, Dharmendra Yadav, Anand Bhadauria and Aditya Yadav managed to borrow a few umbrellas from the security personnel on duty and shared them. Leading the group of MPs exiting the premises under black umbrellas, Akhilesh remarked jokingly, “What can be expected from a government which cannot protect its MPs from rain inside Parliament complex”. Mic Drop One of the many complaints of the Opposition in…