Indian Economy: News and Discussion

[SKC]

I know for sure that it is not at the click of a button. It overlaps several departments.

Isn't that obvious!

 

[SKC]

Who is the Govt to decide on circle rates?

Here again, the Govt. wakes up one fine morning and decides to tax real estate transactions to guarantee a steady cash flow.

Will you pay circle rate to a seller even if he is desperate and is willing to sell for less?
No.
You still pay the stamp duty/registration fees at circle rate if the transaction value on paper is LESS than the circle rate.

Hey I am in desperate need of money. Am willing to sell my property at 3000 per sqft. The Govt. rate is 3700, the current market rate is less than the govt rate and I've been trying to get rid of this property for over a year.

Will you pay him 3700 out of gregariousness or pay him 3000, the rate he is demanding?

You are negating your own points now! Running in circles around your own arguments!

 

[another_armchair]

You are negating your own points now! Running in circles around your own arguments!

Will quote an example.

My uncle was in need of cash. He had about 8 katthas of land. The circle rate of each kattha was 5 lakhs, but the market rate was hovering around 2.

He sold the entire lot at 2 lakh rupees which was the prevailing market rate. The buyer paid the registration/stamp duty at the rate fixed by the government - 5 lakhs per kattha.

There was no 'black money' made here. You are free to believe it or laugh it off.

 

[Love Charger]

Ah yes, why not?

After all, they saved bharatwasis from the clutches of evil western capitalists who owned the system and also the data of Indians all the while making 'astronomical' sums in merchant fees.

Now please pay a small fee for our UPI services. Trust us, it won't hurt much.

Sir i don't understand this online payment system very well, my attempts to join paytm turned out to be nothing except futile exertion on my part as some technological difficulties on paytm's behest eluded me from opening a paytm account.
I was thus shunned And shamelessly denied the privilege to open a paytm online payment account, effectively forcing me to go on my purchases in old manners by using paper money.
Having given you the above description about the reasons for my inability to join the digital payment age, I hereby ask you a question.
Tell me sir , since people here are talking about a fee being levied on using UPI which I belive is another method of transaction of money via electronic means, then is it correct on my part to assume that the cess will multiply in relation to the value of transaction?
Means if a person pays 20 rupees after engaging in a transaction of 100 with another entity . So if a person engages in a transaction of 200 rupees, is he needed to pay 40 rupees on the transaction tax?

 

[SKC]

Sir i don't understand this online payment system very well, my attempts to join paytm turned out to be nothing except futile exertion on my part as some technological difficulties on paytm's behest eluded me from opening a paytm account.
I was thus shunned And shamelessly denied the privilege to open a paytm online payment account, effectively forcing me to go on my purchases in old manners by using paper money.
Having given you the above description about the reasons for my inability to join the digital payment age, I hereby ask you a question.
Tell me sir , since people here are talking about a fee being levied on using UPI which I belive is another method of transaction of money via electronic means, then is it correct on my part to assume that the cess will multiply in relation to the value of transaction?
Means if a person pays 20 rupees after engaging in a transaction of 100 with another entity . So if a person engages in a transaction of 200 rupees, is he needed to pay 40 rupees on the transaction tax?

 

[Eagle Eye]

Vodafone Idea may shut shop in India due to huge debt. Leaving monopoly of Airtel & Jio.- India TV news

 

[Eagle Eye]

Vedanta Resources Group is concentrating on reducing large debt.- livemint

ps- i wonder? it may hv any impact on its purposed semiconductor investment
in Gujarat, eventhough they said it will be created under separate entity- Volcon Investment LTD.

 

[jai jaganath]

Vedanta Resources Group is concentrating on reducing large debt.- livemint

ps- i wonder? it may hv any impact on its purposed semiconductor investment
in Gujarat, eventhough they said it will be created under separate entity- Volcon Investment LTD.

It's bound to happen
This thing doesn't seem to materialize except led diode manufacturing (if I am not wrong)

 

[Eagle Eye]

Vodafone Idea may shut shop in India due to huge debt.- India TV news

Goverment of India is largest shareholer nearly 36%. Govt allowed 16,133cr(33%) dues to conversion equity in Feb 2023.

 

[Sayman Ame]

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I was bewildered by his Tharoor speak too!!

Sir i don't understand this online payment system very well, my attempts to join paytm turned out to be nothing except futile exertion on my part as some technological difficulties on paytm's behest eluded me from opening a paytm account.
I was thus shunned And shamelessly denied the privilege to open a paytm online payment account, effectively forcing me to go on my purchases in old manners by using paper money.
Having given you the above description about the reasons for my inability to join the digital payment age, I hereby ask you a question.
Tell me sir , since people here are talking about a fee being levied on using UPI which I belive is another method of transaction of money via electronic means, then is it correct on my part to assume that the cess will multiply in relation to the value of transaction?
Means if a person pays 20 rupees after engaging in a transaction of 100 with another entity . So if a person engages in a transaction of 200 rupees, is he needed to pay 40 rupees on the transaction tax?

 

[Love Charger]

I was bewildered by his Tharoor speak too!!

Kindly ameliorate my doubt by providing me the answer to the question I asked good sir.
As for my command on the kings language, it's not good at all sir, @Haldilal the forum feline has way better grasp on it than myself, it's an indignity that iam bested by a feline in this regard!
Shashi tharoor is a distinguished gentleman , whose level of command on english is something a man should aspire to achieve I believe, atleast I must try and strive to succeed in this endeavor.

 

[Love Charger]

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View attachment 198235

 

[Sayman Ame]

Kindly ameliorate my doubt by providing me the answer to the question I asked good sir
@SKC ji you too.

It's hard to tell without any indication, but given the 'interchange fee' notified today, we can take it to be that the transactions will be taxed progressively as the value of the transaction increases, as a percentage value (subject to categeory ofc, in the pic below, it seems that the interchange fee is capped depending on the category - the Finance Bill cleared yesterday also capped the cess chargeable on the Sin goods category items)

That said, there are also fixed cesses like the Agri Infra cess which have a fixed rate on items you buy (ex: petrol and diesel).

 

[Arjun Mk1A]

PAN, Aadhaar linking deadline extended to June 30.

When will they start linking property with Pan and Aadhaar? Oh wait... guess never.

Aadhar - EB Bill is being integrated in TN now. Currently owners having multiple property with meters enjoy free electricity. (Eg. If you have 5 services then you will get 100 units free for each service). With Linking Aadhar this is going to cut down and lot of people are already preparing themselves to accept the fate. Now under a single person he can only get 100 unit free for any one service.

EB Minister skirted this issue by claiming that they will still receive free 100 units, but he avoided to mention that it will be one user - One service can avail this 100 units.


Property is the next big area which will be taken slowly. I think in Karnataka already Aadhar is being used to link property.

 

[Coalmine]

Aadhar - EB Bill is being integrated in TN now. Currently owners having multiple property with meters enjoy free electricity. (Eg. If you have 5 services then you will get 100 units free for each service). With Linking Aadhar this is going to cut down and lot of people are already preparing themselves to accept the fate. Now under a single person he can only get 100 unit free for any one service.

EB Minister skirted this issue by claiming that they will still receive free 100 units, but he avoided to mention that it will be one user - One service can avail this 100 units.


Property is the next big area which will be taken slowly. I think in Karnataka already Aadhar is being used to link property.

Husband wife can enroll in two different aadhars. And kids and parents aadhar can be used to enroll as well.
2-4 properties can be hidden kept.

 

[another_armchair]

Aadhar - EB Bill is being integrated in TN now. Currently owners having multiple property with meters enjoy free electricity. (Eg. If you have 5 services then you will get 100 units free for each service). With Linking Aadhar this is going to cut down and lot of people are already preparing themselves to accept the fate. Now under a single person he can only get 100 unit free for any one service.

EB Minister skirted this issue by claiming that they will still receive free 100 units, but he avoided to mention that it will be one user - One service can avail this 100 units.


Property is the next big area which will be taken slowly. I think in Karnataka already Aadhar is being used to link property.

My friend bought a flat last November through NoBroker in Bangalore.

Let me check with him if he 'linked' it with Aadhaar at the local office.

 

[rithwik123]

Centre Allocates 39,600 MW Of Domestic Solar PV Manufacturing Capacity To 11 Companies Under Tranche-II Of PLI Scheme

The government has allocated a total of 39,600 MW of domestic solar PV module manufacturing capacity to 11 companies, with a total outlay of Rs 14,007 crore under the Production Linked Incentive Scheme for High Efficiency Solar PV Modules (Tranche-II).

The allocation is expected to bring in an investment of Rs 93,041 crore and generate a total of 1,01,487 jobs, with 35,010 jobs being direct employment and 66,477 jobs being indirect employment.

Centre Allocates 39,600 MW Of Domestic Solar PV Manufacturing Capacity To 11 Companies Under Tranche-II Of PLI Scheme

swarajyamag.com

 

[notaname]

My friend bought a flat last November through NoBroker in Bangalore.

Let me check with him if he 'linked' it with Aadhaar at the local office.

I bought a property few months back, and all I needed was my Aadhaar and biometrics to confirm the Aadhaar to get the registry done. Nothing else was needed.

 

[another_armchair]

Vodafone Idea may shut shop in India due to huge debt. Leaving monopoly of Airtel & Jio.- India TV news

What is the likelihood of Vodafone getting merged with BSNL?

GoI seemed intent on ensuring telecom doesn't become a duopoly between Reliance Jio and Airtel.

 

[AK047]

India’s overall exports cross an all time high of US$ 750 Billion in the 75th year of independence: Sh. Piyush Goyal

https://www.pib.gov.in/PressReleseDetailm.aspx?PRID=1911581