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The retail industry plays a major role in supporting the Indian economy. In former 10 years, the need for online platforms would have surged at the speed of the sector, and offline retail would successively see a fall. But the sudden covid-19 has impacted the industry, the industry would have recovered almost from its impact […]
Section 80TTB Income Tax exemption limit for senior citizens: The exemption is there on the Interest income of up to Rs 50,000 on savings accounts, fixed deposits, and recurring deposits from income tax for senior citizens under Section 80TTB of the Income Tax Act. SBI Research recommended in its recent report that this limit must […]
More than 40% of the total wealth made is held by the top 1% of the wealthy people in India from 2012-2021, but only 3% of the wealth would come into the account of the bottom 50%. Only 5% of the Indians hold more than 60% of the country’s wealth. The same would be directed […]
Due to the fact that many working-class individuals enjoy using two-wheelers for their daily journey, they have served as fuel for this nation. In many areas of India, transportation is a significant problem since many roads are still not constructed for the safe passage of four-wheelers and because overcrowded towns are congested with traffic. As […]
To double the income tax exemption limit to Rs 5 lakh in the coming budget so that the economy would obtain a rise in consumption, said the Industry body Assocham. Rs 2.5 lakh is the max amount up to which no tax is levied at present. The exemption for people of age between 60 to […]
A day prior to the central Finance minister Nirmala Sitharaman starting the customary pre-budget meets with the stakeholders, the confederation of Indian Industry (CII) asked for a reduction in the personal rates of the income tax for reviving the demand. The same can provide the advantage to nearly about 5.83 cr people who become part […]
The rise in the tax collection of goods and services is higher because of the higher inflation compared to the higher consumption mentioned by the India Ratings and Research. A private final consumption expenditure, with respect to the first quarter of 2019-20 there is a rise in the consumption which would have increased by 9.9% […]
As the current inflation is running it is not expected to change the GST rates on the goods and services. Goods and services would get taxed in four slabs of 5%, 12%, 18%, and 28% beneath the GST regime. It was acknowledged to diminish these tax slabs reaching three, a practice that engaged raising the […]
The GST collection of April has crossed Rs 1.5 lakh cr, it is for the first time and the Rs 1 lakh cr mark for the tenth month in a row. Also, Rs 1.35 lakh crore per month is been expected to come in the same fiscal said by Central Board of Indirect Taxes and […]
