The government has formed a special committee to manage LPG supplies. This committee will review requests and prioritize non-domestic users like hospitals and schools. The move comes as global fuel supply disruptions impact India’s LPG imports. The automotive industry had…
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Private equity investors face challenges in India due to currency depreciation and high taxes. The Indian rupee has weakened against the dollar. Capital gains tax also impacts returns. While India’s growth outlook is strong, these factors limit investor gains. Fund…
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Rising crude oil prices above $100 per barrel due to the US-Iran conflict are creating significant concerns for India’s economy. The nation, heavily reliant on oil imports, faces risks of increased inflation, a wider current account deficit, and pressure on…
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A nationwide survey conducted by the Income Tax Department on 62 restaurants across 46 cities in 22 states has revealed suppression of sales amounting to around Rs 408 crore, Finance Ministry said on Monday.
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The Supreme Court has declined to hear a petition questioning the Income Tax Act’s search and seizure powers. Judges stated the provision is designed to catch major tax evaders. They acknowledged potential misuse but emphasized existing remedies are sufficient. The…
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The Income-Tax Department is currently investigating restaurants across multiple cities. This action follows a Hyderabad probe that uncovered alleged sales under-reporting through manipulated billing software. Officials are surveying restaurant premises to understand their billing systems. The exercise aims to assess…
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