Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« General »
Open DEMAT Account in 24 hrs
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns

Should you get ready for a ‘lockdown tax’?
May, 07th 2020

Tax, tax, tax

A protracted battle against coronavirus has been taking a toll on the government coffers, leading to states looking to hike taxes wherever possible, in a bid to make up for some of the deficit.

Sealed borders

With every state’s borders sealed, the risks of smuggling have been negated, which leaves states free to hike taxes steeply.

 

Back-to-back hikes

For instance, the Andhra Pradesh government raised liquor prices by another 50%, a day after a 25% hike. The fresh hike is expected to add additional revenue of Rs 9,000 crore a year.

 

Fuel

With oil prices tanking across the globe, governments have decided to hike up fuel prices with minimal expense; for instance, petrol in Delhi went up by Rs 1.67 a litre, and diesel by a steep Rs 7.10 per litre.

 

Other options

There are, of course, other hikes available to governments - entertainment tax, municipal taxes and local panchayat cess, registration charges on cars and property - which could be implemented as and when they choose.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting