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EQUALIZATION LEVY INDIA
RBI sweetens FCNR deposits: NRIs can now earn up to 7% on dollar savingsFor the first time in years, the math is actually working for non-resident Indians to invest dollar savings in India.- SC upholds govt retrospective 28% GST levy on online gaming companiesThe Supreme Court has backed the government's retrospective 28% GST on online gaming. The court ruled that online gaming platforms are not ...
- SC allows Amazon's appeal, sets aside order imposing Rs 202 crore penaltyThe Supreme Court has relieved Amazon by setting aside a Rs 202 crore penalty. The apex court also suspended the e-commerce giant's deal wi...
- Cabinet approves Rs 37,500 crore coal gasification scheme to cut import dependenceThe Union Cabinet on Wednesday approved a Rs 37,500 crore scheme to promote surface coal and lignite gasification projects, aiming to gasif...
- Builder denied proper parking? Know your rights under RERA & key court rulingsHomebuyers facing parking disputes with builders now have legal recourse. Judicial precedents and RERA guidelines offer clarity on issues l...
- India’s fuel resilience amid global oil turmoilThe article describes India’s economy as “resilient” amid the West Asia crisis, highlighting the country’s ability to maintain stable fuel ...
- Apple’s Tim Cook takes on crucial new role: Global ambassadorTim Cook steps into a new role as executive chairman, dedicating more time to global diplomacy for Apple. He will engage policymakers world...
- India received highest number of regressive tax recommendations from IMF: OxfamAn Oxfam report highlights the International Monetary Fund's (IMF) tax advice. India received the most regressive recommendations between 2...
- Blow to Discount Brokers: Sebi says charges levied by market institutions should be uniformExchanges frequently offer lower fees to brokers who generate high trading volumes, which has led to increased activity across segments suc...
- India cuts windfall tax on crude oil to Rs 1,900 per tonne from Rs 2,100 per tonneIt has also reduced levy on ATF to Rs 3.5 per litre from earlier Rs 4.5 per litre and has reduced export duty on diesel to Rs 5 per litre, ...
- Alphabet, Meta paid Rs 1,254 crore as levy in FY21India collected a total of Rs 2,057 crore in equalization levy last fiscal, up 85%.
- Equalisation levy does not discriminate against US firms: IndiaIn a statement, the commerce and industry ministry said there is no retrospective element as the levy was enacted before the 1st day of Apr...
- Biden regime may engage on equalisation levy, but India stance to remain unchanged, say expertsThe US had launched a Section 301 probe on EU, India, UK and Brazil in June to determine whether the levy discriminates against American e-...
- High Court ruling: No equalisation levy for Mastercard Asia Pacific Ltd in IndiaThe revenue department submitted before the court that it would go by the Delhi Authority of Advance Ruling (AAR) order, in a separate case...
- Taxing Google, Amazon: India’s equalization levy suffers from ambiguities on applicabilityThe first instalment of EL 2.0 was due on 7 July 2020. The stakeholders expected the government to defer the levy for some time, considerin...
- Modi govt sees no major threat of US retaliation over Google taxThe issue was discussed last week during an interaction with USTR Robert Lightheizer as American authorities had flagged their concerns soo...
- Govt not considering extending equalisation levy deadline, says companies got enough timeThe 2 per cent Equalisation Levy was introduced in the 2020-21 Budget and has come into effect from April 1, 2020. The deadline for payment...
- CBDT's panel suggests Rs 1 lakh threshold for tax on online advertisingThe Committee has also suggested that income arising from payments subjected to Equalization Levy should not be subjected to income-tax, an...
- Govt unlikely to consider super profit tax on minersThe government is unlikely to consider implementation of a super profit tax on miners, as the new mining Bill which is pending Parliament a...
- Muslim leaders in India condemn levying Jazya on Pak SikhsProminent Indian Muslim leaders on Sunday strongly condemned incidents of Sikhs being attacked in Pakistan and asked to pay "protection mon...
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