Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
I wholeheartedly support the increase in amount of relief under Sec. 87A. However, I see one problem for senior citizens like me. If my taxable income is under Rs 5.00 lakhs, I have to neither to invest in Sec. 80C schemes nor have to pay any tax. But I am not free from hassles of filing Income Tax Return (ITR) every year. Further there is a penalty of Rs 1,000/- for not filing ITR. Hence, my request to the Union Finance Minister will be to reconsider levy of penalty for delayed filing ITR when the tax liability is Zero, at least in case of senior citizens.
I wholeheartedly support the increase in amount of relief under Sec. 87A. However, I see one problem for senior citizens like me. If my taxable income is under Rs 5.00 lakhs, I have to neither to invest in Sec. 80C schemes nor have to pay any tax. But I am not free from hassles of filing Income Tax Return (ITR) every year. Further there is a penalty of Rs 1,000/- for not filing ITR. Hence, my request to the Union Finance Minister will be to reconsider levy of penalty for delayed filing ITR when the tax liability is Zero, at least in case of senior citizens.