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The Income Tax Department is the central government's largest revenue generator; total tax revenue increased from ₹ 1,392.26 billion (US$17 billion) in 1997–98 to ₹ 5,889.09 billion (US$71 billion) in 2007–08. [3] [4] In 2018–19, direct tax collections reported by the CBDT were about ₹ 11.17 lakh crore (₹11.17 trillion). [5]
A resource rent tax is a tax on the rents gained on the exploitation of a resource. [ 1 ] [ 2 ] [ 3 ] It can cover both renewable and non-renewable resources. It is classically understood to be a tax on the surplus value generated by resource exploitation beyond the necessary costs of production (which includes rewards to capital). [ 1 ]
This tax applies to a "dividend equivalent amount," which is the corporation's effectively connected earnings and profits for the year, less investments the corporation makes in its U.S. assets (money and adjusted bases of property connected with the conduct of a U.S. trade or business). The tax is imposed even if there is no distribution.
Tesla's stock price reached $420 on Wednesday afternoon, which elicited responses from social media users and the company's CEO, Elon Musk. "As foretold in the prophecy," Musk wrote in an X post ...
Prosecutors say Alvarez owned and ran the Bronx-based company ATAX New York, which they described as a “high-volume tax preparation company.” The company prepared about 90,000 federal income ...
The Corps of Engineers is the primary federal agency with responsibility over "waters of the United States" that plans, designs, builds, and operates water resources and other civil works projects, [6] while the Bureau of Reclamation oversees federal dams, irrigation, and rural drinking water projects in the Western United States.
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WASHINGTON (Reuters) -The U.S. government posted a $367 billion budget deficit for November, up 17% from a year earlier, as calendar adjustments for benefit payments boosted outlays by some $80 ...