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Super rich tax, other proposals to swell exchequer by Rs 18K cr

[email protected] (PTI)
February 28, 2013
New Delhi, Feb 28: New tax proposals including 10 per cent surcharge on super rich and higher duties on mobiles, cigarettes and SUVs will help government garner Rs 18,000 crore in 2013-14.

Finance Minister P Chidambaram in his budget speech today said, "My tax proposals on the direct taxes side are estimated to yield Rs 13,300 crore and on the indirect taxes side Rs 4,700 crore."car

As part of budget proposals for direct taxes, the Finance Minister imposed a surcharge of 10 per cent on persons (other than companies) whose taxable income exceeds Rs 1crore.

Besides, surcharge has been doubled to 10 per cent on domestic companies whose taxable income exceeds Rs 10 crore. For foreign companies, surcharge has been raised from 2 per cent to 5 per cent, if the taxable income exceeds Rs 10 crore.

These additional surcharges would be in force for only one year. However, education cess would continue at 3 per cent.

At the same time, the Finance Minister has provided tax relief of Rs 2,000 for the Tax Payers in the first bracket of Rs 2 lakh to Rs 5 lakh.

With regards to indirect taxes, the Finance Minister proposed raising excise duty on SUVs from 27 per cent to 30 per cent while on mobile phones priced above Rs 2,000 it has been raised to 6 per cent from the current 1 per cent.

Cigarettes will cost more as specific excise duty increased by about 18 per cent. Similar increases are proposed on cigars and cigarillos.

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News Network
February 10,2020

Hyderabad, Feb 10: All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi continued his tirade against PM Modi and Amit Shah against Citizenship Amendment Act (CAA), National Population Register (NPR) and National Register of Citizens (NRC). "We are ready to take bullets in our chests but we will not show our papers.

We are ready to take bullets in our chests as we love our country," Owaisi said further.

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News Network
June 6,2020

New Delhi, Jun 6: With 9,887 new positive cases reported in the last 24 hours, India's COVID-19 count touched 2,36,657 on Saturday surpassing Italy's latest tally of over 2.34 lakh, taking India to the sixth spot among countries with the highest caseloads of the virus.

The Union Ministry of Health and Family Welfare (MoHFW) said that India registered a spike of 9887 new cases and 294 deaths in the past 24 hours taking the tally to 1,15,942 active cases and 6642 deaths.

Today's count was the highest single-day spike in the country, which has now overtaken Italy, according to the tally posted by the Johns Hopkins University which posted that globally the coronavirus had infected over 66.64 lakh people and claimed over 3.91 lakh lives so far.

In india, the MoHFW informed that 1,14,073 persons have been cured/discharged/migrated so far.

Maharashtra remains the worst-hit State as the total number of COVID-19 positive cases reached 80,229. While the total number of active cases in the state stands at 42,224.

In Tamil Nadu, 28,694 cases have been detected so far while Delhi has reported 26,334 coronavirus cases.

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News Network
June 20,2020

New Delhi, Jun 20: The government-imposed upper and lower limits on airfares may be extended beyond August 24 depending upon how the situation turns out, Aviation Secretary P S Kharola said on Saturday.

The government resumed domestic passenger flights from May 25 after nearly two months of suspension to combat the coronavirus outbreak, but placed lower and upper limits on airfares depending upon the flight duration.

It had said on May 21 that these limits would be in place for a period of three months.

"Depending on how the situation turns out, the fare band may have to adjusted beyond that (August 24) also. But right now, it is only for three months," Kharola said at a press conference here.

International passenger flights continue to remain suspended in the country.

However, the government started Vande Bharat Mission on May 6 to help stranded people reach their destinations through special flights.

Aviation Minister Hardeep Singh Puri said at the conference that during phase 3 and phase 4 of the mission, private domestic airlines have been approved to operate 750 international flights to repatriate people stranded amid the coronavirus pandemic.

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