Business news, Cryptocurrency exchanges evade crore in tax

Business news, Cryptocurrency exchanges evade crore in tax and increased the maximum transaction limit of UPI Lite,Rs 55 lakh crore, according to data released by the World Bank, more than..

Business news,

UPI Lite service has a maximum transaction limit of Rs 5,000

The Reserve Bank of India has increased the maximum transaction limit of UPI Lite, a mobile payment service that does not require an internet connection, from Rs 1,000 to Rs 5,000. In UPI, money transfers not only require an internet connection, but also additional confirmation and transaction alert information is sent instantly to the customer's mobile phone.

In UPI Lite, which does not require an internet connection, the transaction limit was previously allowed up to Rs 1,000. The Reserve Bank has issued a circular increasing this to Rs 5,000. This is expected to further increase the number of small-value electronic transactions.

India's external debt rises to Rs 55 lakh crore

India's total external debt increased by Rs 2.60 lakh crore in 2023 to nearly Rs 55 lakh crore, according to data released by the World Bank.

The World Bank's '2024 International Debt Report' states that due to the increase in India's debt, interest on debt has increased from Rs 1.29 lakh crore in 2022 to Rs 1.92 lakh crore in 2023. In 2023, debt on long-term securities increased by 7 percent to Rs 42.33 lakh crore, while debt on short-term securities decreased slightly to Rs 10.74 lakh crore. In 2023, the share of external debt was 80 percent of exports; 10 percent of services exports.

This is stated in it.

Cryptocurrency exchanges evade Rs 824 crore in tax

The government has said that cryptocurrency exchanges have been found to be evading GST to the tune of Rs 824 crore.

In this regard, Minister of State for Finance Pankaj Chaudhary said in a written reply in Parliament: Cryptocurrency exchange exchanges like CoinDCX,

CoinSwitch Kuber, WazirX, Finance have been found to be involved in GST evasion. While a tax evasion of Rs 824 crore has been detected, Rs 122.29 crore has been collected from them so far. He said this.

'Indigo' is the seventh worst airline

'AirHelp' has rated 109 airlines from 54 countries and released a ranking. The companies are ranked based on passenger handling, food quality, seat comfort, staff service, punctuality at take-off and landing. IndiGo has been ranked 103rd in the list.

Overall, IndiGo has been ranked seventh in the top 10 list of worst-performing airlines. IndiGo has denied this, saying the reliability of the results is questionable.

Comments

No tax on gold, gold prices plummet

New Delhi, Aug. 13-Gold prices fell by nearly two percent in the international market yesterday after US President Trump announced that there would be no tax on gold. Gold price gold price fall reasons The US Customs Department issued a statement last week that the tax would also apply to gold bars . Following this, prices rose sharply. The price of one ounce of gold, i.e. about 28.35 grams, reached a new high of Rs 3 lakh. White House sources said at the time that the tax would be applicable and that an official clarification would be made soon. Following this, Trump announced on his Truth Social social networking site the day before yesterday that 'there will be no tax on gold '. This announcement allayed investors' fears regarding price hike, leading to high selling of gold. Following this, the price of one ounce of gold fell below Rs 2.90 lakh. The international market situation was also reflected in India. In the last 2 days in Chennai, the price of 22-ka...

At one time, the tax rate in India was 97.50

Many feel that foreign countries tax the rich very heavily and India does not. But did you know that at one time India had to pay 97.50 percent of income tax? Indira Gandhi What is the historical tax rate in India Debates such as distribution of wealth and introduction of inheritance tax have arisen and are currently being discussed in a frenzy. But, in our country, 50 years ago, maximum tax was collected up to 97.50 percent. There was such a period in India. During Indira Gandhi's tenure as Prime Minister, income tax in India was as high as 97.50 percent. However, this collection came to an end shortly after. Indira Gandhi saw taxation as an important mechanism to balance income and wealth. Based on this, in February 1970, he presented the budget in Parliament and addressed it. Social welfare was the theme of the budget. Since the green revolution was taking place, various announcements related to the agriculture sector were included in the budget. A huge sum...

This gold price is not permanent.

This gold price is not permanent, but when people think of a problem in the country, they buy gold first. It is good to buy as much as needed, but buying too much is foolish. When there is a famine, the things they buy are food, clothing, and money. If we don't have money, it is difficult to sell gold for urgent needs. Gold price Gold market crash history Will there ever be a situation where gold , which has been rising very, very rapidly in a short period of time, will become a commodity? Studies on gold say that it may come. If we look at the price of gold over the past 50 years, rather than just 10 or 20 years, it seems that what you are saying has happened. That is, in September 1980, the price of 1 ounce of gold touched $666. 19 years later, in September 1999, the same 1 ounce of gold was sold for $255. A 62 percent decline. An ounce did not touch $666 again until 2007. That is, 27 years later. Next, in 2012, 1 ounce of gold touched $1,772. But, in just three ye...

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