Finance Acts

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Saturday, 16 January 2021

Latest News for: Finance acts

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10% price stamp duty relief from 2002: ITAT

The Times of India 16 Jan 2021

To prevent tax abuse and deter the use of black money in property deals, Section 50C was introduced by the Finance Act, 2002 ... This proviso was further amended by the Finance Act, 2020, and enhanced the acceptable variation rate to 10%....

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10% price-stamp duty variance relief on flat sale applies from ’02-’03: ITAT

The Times of India 16 Jan 2021

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Digital loans at Maruti Arena

The Telegraph India 16 Jan 2021

Maruti Suzuki India Limited (MSIL) has extended its online financing platform — Smart Finance — to its Arena customers across 30 cities. Earlier, the company had launched the digital financing platform for its Nexa customers only ... Smart Finance offers customers a one-stop shop for financing....

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This crypto startup is offering 8.6% interest on savings accounts — 123 times the national average

Yahoo Daily News 16 Jan 2021

Yahoo Finance ... “You can start earning your interest and gaining passive exposure into a new asset class,” BlockFi co-founder Flori Marquez explained in an interview with Yahoo Finance Live ... Similar to banks, BlockFi acts as a financial intermediary that’s able to benefit in the gap between borrowing and lending....

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Transfer of CARES funds could leave Etowah County with $1.37 million bill

The Gadsden Times 16 Jan 2021

A panel of six legislators — at the behest of the state finance director — pulled $70 million in CARES act money designated for counties and cities and transferred it to the state Unemployment Trust Fund, Association of County Commissions of Alabama Director Sonny Brasfield told commissions by email Monday....

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US pharma giant Abbvie secures reversal of €572m Irish tax bill

Irish Independent 16 Jan 2021

Previously, such schemes had been exempt. The new measures were implemented immediately in 2019, affecting Abbvie as it progressed its takeover of Botox maker Allergan ... Read More ... The determination notes that the case relates to the acquisition of a company “and the stamp duty provisions introduced by section 61 of the Finance Act 2019”. ....

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Revenue from cash deals touches Rs4.2bln in H1

The News International 16 Jan 2021

KARACHI ... The withholding tax is applicable under a section (231A) of Income Tax Ordinance, 2001 at the rate of 0.6 percent on taxpayers whose names are not on the ATL ... However, through the Finance Supplementary (Second Amendment) Act 2019, the levy of 0.3 percent was abolished ... The government lifted the coronavirus lockdown in June last year ... ....

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Ex-bureaucrats flag ‘clear lack of transparency’ in PM Cares Fund

Indian Express 16 Jan 2021

They said the immediate cause for the letter was the refusal to divulge details under RTI “on the grounds that the PM Cares Fund is not a Public Authority under the ambit of Section 2(h) of the RTI Act, 2005”....

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Martin Scorsese's 'Killers of the Flower Moon' is finally set to film in Oklahoma soon - and here's how to be a part of it

The Oklahoman 16 Jan 2021

Background Oklahoma, a division of Oklahoma-based Freihofer Casting, is still accepting submissions for the virtual call for extras ... ... According to Variety, Paramount still will distribute the film worldwide, with Apple joining to finance the project, act as the movie's creative studio and then stream the prestigious title on its Apple TV+ service....

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Saudi Ministry of Finance inks $3b export financing pact with South Korean entities

Gulf News 15 Jan 2021

Saudi Arabia's Ministry of Finance has secured a $3 billion export financing facility that would also come in handy in raising South Korea's trade prospects with the Gulf state ... Export credit agencies operate as the via media between governments and exporters to issue export-related guarantees for financing....

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Delhi CA held by CGST officials for passing on fake ITCs

The Siasat Daily 15 Jan 2021

Nitin Jain by using fake entities on the identity of his family members has knowingly committed offences under Section 132(1)(b) and 132(1)(c) of the CGST Act, 2017 as amended vide Section-127 of the Finance Act 2020, which are cognisable and non-bailable offences as per the ......

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EPA awards $73M to Dayton for water infrastructure improvements

Springfield News-Sun 15 Jan 2021

The U.S. EPA has awarded $73 million to the city of Dayton for water infrastructure improvements, U.S. Sen ... The funds come through the Water Infrastructure Finance and Innovation Act, and is the first project funded in Ohio ... The Water Infrastructure Finance and Innovation Act of 2014 is a federal loan and guarantee program administered by the EPA ... .......

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10 RFQ applications come for CSMT Railway Station redevelopment

The Siasat Daily 15 Jan 2021

IRSDC will be a single window for approval of master plan and building plans in consultation with local authorities in terms of power conferred under Section 11 of Railway Act, 1989. The redevelopment cost of the station (mandatory cost) including the cost of financing and contingency etc is Rs 1,642 crore....