« General » Open DEMAT Account in 24 hrs  Won case against income tax department but still waiting for benefit? No more delay after an update in ITR portal  Income Tax Department regrets issuing erroneous notices to taxpayers: Know the details  Income Tax Return: Miss THIS ITR filing deadline and you will be fined Rs 10000  Tax contribution of petroleum sector set to drop rapidly in FY 2024-25  Missed reporting foreign assets in ITR? File revised return to avoid Rs 10 lakh penalty  Tax regime shift: Is filing ITR under old regime still valid after default new regime?  Income Tax Department Targets Bogus Refund Claims, Issues Notices To Taxpayers  IT firms bullish on higher spending due to tax cuts  How to calculate capital gains tax on sale of land?  Don't fall for fake notices! How to verify your income tax communication  I decided to shift to the new tax regime. Will I lose benefit on interest income of my PPF account? «  Companies allowed to offer pricing logic in tax assessment... Govt forecasts 7% growth in mid-year review report... » Govt must slash ATF tax for airlines to cut domestic fares: Vijay Mallya December, 27th 2008 Kingfisher Airlines Chairman Vijay Mallya on Friday indicated that unless the government brought down the sales tax on ATF to four per cent, airlines in the country would not cut domestic air fares. "Domestic fare cuts are really dependent on government policies in terms of sales tax on fuel," Mallya told reporters in response to questions after the annual general meeting of the company in Bangalore. Mallya said once the government gives ATF the declared goods status, bringing down sales tax to a uniform four per cent, airlines in India would cut fares. Airlines in India have "accumulated burden" when the crude oil prices were at $147 a barrel. "We still continue to pay an average of 26% sale tax without any relief whatsoever," he said. The airlines now have to pay oil marketing companies and Airports Authority of India in full, Mallya said, adding, "we have to generate enough cash to do so".