ROAD TAX ONLINE
Discounting wars in quick commerce; tax relief for ecommerce suppliers
The recent funding raised by Zepto may trigger a discounting war in the quick commerce space. This and more in today’s ETtech Morning Dispatch.
Central govt employees, private employees can't claim LTA if they don't follow these rules; LTA eligibility, other latest updates
LTA for central govt employees: Employers offer Leave Travel Allowance (LTA) to offset travel expenses during leave. It covers airfare, train tickets, or public transport, but reimbursement is capped by employer or tax limits. Confusions arise, especially with air travel. Here's a breakdown: Can you claim LTA with a confirmed flight ticket? Does the booking platform matter? Is family included? What documents are required for flight-based LTA claims?
How to claim LTA: Eligibility, LTA rules, documents you need to submit, how much amount you can claim and more
Leave Travel Allowance or LTA, a component in your salary, helps offset travel expenses incurred during your vacation. The benefit extends to family – covering travel costs for your spouse and dependent children, and family members. To claim LTA, you need to submit documented proof of travel costs to your employer within the stipulated deadlines. Who can claim LTA? What are the documents that you need to submit? What are the conditions you need to keep in mind while claiming LTA? All questions answered.
India vs Australia: Airfares surge eightfold, hotels 29X as cricket excitement reaches fever pitch in Ahmedabad
The highly anticipated ICC World Cup final between India and Australia at the Narendra Modi Stadium in Ahmedabad is causing a surge in demand across various industries. Over 100 charter flights have been booked, leading to skyrocketing airfares and hotel tariffs. Car rental companies and liquor permit applications are thriving. The surge in demand has affected flight prices, with the cheapest one-way fare from Hyderabad to Ahmedabad costing Rs 40,000.
Tax collected at source: You have to pay TCS on bike, EV, car of more than this amount
The seller of a motor vehicle will collect TCS from the buyer if the value of the motor vehicle is over Rs 10 lakh. However note that TCS is not an additional tax and this amount can be claimed back at the time of income tax return (ITR) filing.
End of the road for Dream Capital; payment aggregator licence seekers under RBI scrutiny
Happy Friday! We have two exclusive newsbreaks! Dream Sports, which operates fantasy gaming platform Dream11, has decided to roll back its self-funded corporate venture arm which had a committed corpus of $250 million. This and more in today’s ETtech Morning Dispatch.
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PAN-Aadhaar linking charge: Rs 1,000 late fee; you may have to pay more if you do it offline
If you have not linked your PAN with Aadhaar earlier and want to do it now, it can very well be done online or offline. However it will involve payment of a late fee of Rs 1000. But if due to any reason like date of birth mismatch, etc the linkage could not be done, then you will have to get it corrected first.
How to pay road tax online in India
Both the central and state governments impose a road tax. The state government collects toll taxes, state VAT, passenger and goods taxes, and motor vehicle taxes on an annual or lifetime basis.
Policy changes in online gaming, ecommerce; CXOs log out of unicorns to start up
It was a busy Wednesday for policymakers and one that could hold serious ramifications for India’s tech and startup ecosystem. Today’s ETtech Morning Dispatch brings you all these details and more. Read on!
The road tax handbook: A complete guide to understanding road tax for vehicle owners in India
In India, road tax is levied by both the Centre and state governments. However, road tax is essentially a state-level tax since the cost of maintenance of local roads is borne by the state governments. Road tax can be paid both offline and online in India. Vehicle owners must note that without producing an active vehicle insurance policy, individuals are not allowed to make road tax payments.
Indians singed by high food prices await targeted interventions, tax cuts to make ends meet
Skyrocketing food prices in India are hitting consumers hard. Prices for staples such as rice, pulses and tomatoes, essential items used in the preparation of most Indian dishes, have surged and making affording even necessities difficult for most Indians, who in any case paying over Rs 100 for a litre of petrol in many parts of the country.
From IT Returns to EPFO statements, DigiLocker will soon be your one-stop document hub
The digital repository already has 2,311 issuers on board and is working on having all government departments make documents available on the DigiLocker account of each citizen, people aware of the development said.
Refuse fuel to uninsured vehicles, suggest insurers
The proposal was part of the presentation made during 'Bima Manthan', organised by insurance regulator, the Insurance Regulatory and Development Authority of India, or IRDAI, earlier this month. Insurers have proposed an app that will be integrated with M-Parivahan and show whether the vehicle is insured or not.
Karnataka ups revenues, collects 91% of target as at Jan end
Karnataka has collected 91% of revenue targeted for the fiscal year 2022-23 by the January end, with the state's own tax revenues rising 21% over the same period last year, Governor Thawar Chand Gehlot told the joint session of the state legislature on Friday.
Budget at a glance: What it means for taxpayers, economy and business
During her speech, FM Nirmala Sitharaman asserted that the Indian economy is on the right path and heading towards a bright future. Offering big boost to taxpayers and economy, Sitharaman announced major changes in tax slabs under the new tax regime and big hike in allocation for railways and capital expenditure.
Will Budget 2023 hike threshold for tax deduction at source on income from online games?
The online gaming is in news due to various reasons. Budget 2022 announced to set up a task force committee to boost the domestic capacities and develop opportunity for the world. However, there are media reports that Budget 2023 may make some changes in the threshold for TDS on online gaming winnings.
HC seeks Centre's response on plea challenging double toll tax for commuters without FASTag
A division bench comprising Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad issued a notice and gave four weeks to the government to produce an affidavit.
Getting an ESOP in your next job? Here's how an ESOP works, risks involved and tax implications
Typically, a company offers its employee an option to buy a fixed number of stocks after a vesting period at a predetermined price that often comes with a big discount. Though it may appear a good bargain on paper however, in reality, there are many things which may go wrong and there is no guarantee that you will always take home the jackpot. Here's what should know to get the call right.
Driving licence, learner’s licence, 56 other RTO services available online now; Check full list
These services include driving licence application and renewal, learner license application and renewal, vehicle registration, and transfer of ownership among others. Know more
GST revision can enable India achieve $5 trillion economy: EY
The book recommends the policy measures required to reform GST hinging on revenue buoyancy, world-class dispute resolution, institutional strengthening, and enhancing the ease of doing business.
Your tax money flow to roads, highways likely increasing as projects take over a decade to cut the ribbon
In the road transport and highways sector, 300 out of 825 projects are delayed, according to a latest flash report on infrastructure projects for June 2022. It is followed by railways, where 119 projects out of 173 are delayed, while for petroleum, 90 out of 142 projects are delayed. The total cost of implementation of 825 road transport and highway projects is anticipated at Rs 5,37,163.29 crore now, implying a cost overrun of 9.4 per cent.
How uniformity in tax law made a common national market
The GST law is driven by the recommendations of the GST Council, which is a body having representation from both Central and State Governments, thus promoting uniformity in law, practice, tax processes and standardisation of reports or filings.
GST council gives relief to transport sector, small online businesses
The council has also waived the compulsory registration norms for small businesses with annual turnover up to Rs 40 lakh and Rs 20 lakh for goods and services respectively, using e-commerce platforms to sell products and allowing them to opt for composite scheme, benefitting about 1.2 lakhs small taxpayers.
GST relief for transport and tourism sectors, small online businesses
Road transporters will now have the flexibility to opt for paying GST at 5% without input tax credit or GST at 12% with such credit. The option will be available at the beginning of a financial year.
Byju’s eyes multi-billion-dollar deals, may acquire Chegg; banks raise fintech concerns with RBI
Byju Raveendran told us in an interview that the next 12 months will be the best time to acquire companies, and that Byju’s is looking at striking “multi-billion-dollar” deals around the world.
Govt proposes 'IN' series registration number for personal vehicles
This vehicle registration facility under “IN series” will be available to defense personnel, employees of Central and State governments , Central and State public sector undertakings and private sector companies and organizations, which have their offices in five or more States or Union territories.
How hard and long will India's road to recovery be? An ET Online survey finds answers
Did India really need such draconian lockdowns, especially at a time when the economy was already having a hard time? While a debate over this risk-return tradeoff continues to divide people, a majority (over a third) of survey respondents said Modi govt had no other options.
Over-regulated market jacking up 2-wheeler prices, says Rajiv Bajaj
The market is "over-regulated", which has led to an increase in the two-wheeler prices, Bajaj said.
Two years of GST: Road ahead for one nation, one tax
The one-nation, one-tax revolution has seen a few hiccups, but it’s settling down and benefits should start to flow sooner rather than later.
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