The figures of tax collection by the state government of Maharashtra have been consistently growing for the last three years.
Finance Minister P. Chidambaram Tuesday said taxing petrol and diesel was necessary for government revenue.
In an interaction with SupportBiz, Amol Naikwadi, Joint MD, Indus Health Plus, expressed his wish for policymakers to form a separate category for preventive health check-ups in the Union Budget 2013-14, so that people get a precise and clear incentive to go for such check-ups. Naikwadi is also a member of FICCI’s Health Services Committee.
The availability of Chinese products is adversely affecting the sports goods industry in Meerut, Uttar Pradesh.
India Inc said Wednesday that there should not be any increase in taxes for the "super rich" as it would dampen business sentiments and lead to relocation of professionals to low tax regions like Singapore, Dubai and London.
In India, small units setting up shop in the north-east and in specified backward states do not have to pay any direct taxes for the first five years. They also enjoy a 25 percent deduction on direct taxes from the fifth to the 10th year of operation, according to government information.
At an estimated Rs.2,000 crore, India has become the sixth largest market for contraband cigarettes, casing huge revenue losses to the government and affecting the livelihoods of some five million tobacco farmers, says a study conducted for industry lobby Assocham. It could be a source of terror funding too, adds the study.
Asking traders not to "evade" value added tax (VAT), Delhi Chief Minister Sheila Dikshit Wednesday said the revenue is crucial for the development of the city.
Traders in the northern Punjab state, India’s grain basket, irked over a recent pronouncement by the state excise and taxation commissioner about the implementation of the ‘e-Trip system’, have submitted a memorandum to state’s chief minister asking to withdraw the decision.
It also wants state taxes on poultry items to be waived to get to its former top position in India.