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Tag: hiked

Petrol now just Rs 19 short of 100 mark in Delhi, diesel prices hiked too

Petrol now just Rs 19 short of 100 mark in Delhi, diesel prices hiked too

Finance
Oil marketing companies have hiked the prices of petrol and diesel again on Thursday by 13 paisa and 11 paisa respetively. As a result, petrol has reached its all time high of Rs 81 per litre in Delhi while diesel costs Rs 73.08 per litre in the national capital. In Mumbai, petrol now costs Rs 88.39 per litre and for disel you have to shell out Rs 77.58 per litre. Petrol and diesel prices have been rising for a while now owing to a falling rupee and rising international oil prices. A fear that the US sanctions on Iran may end up contracting global oil supplies more than other producers can make up is pushing up oil prices. Crude oil prices have risen to $ 77 a barrel, gaining about $ 7 in a month. Recently Andhra Pradesh as well as Rajasthan have announced cut in state taxes to rein in th...
Tax exemption, Sec 80C limits, surcharge on HNIs may be hiked in Budget 2018: EY

Tax exemption, Sec 80C limits, surcharge on HNIs may be hiked in Budget 2018: EY

Finance
We expect Budget 2018 to increase the basic tax exemption limit from the current Rs 2.5 lakh to Rs 3 lakh and also the Section 80C investment limit for tax saving from the current Rs 1.5 lakh to Rs 2 lakh, says Sonu Iyer, tax partner and people advisory services leader, EY. Talking to ET online about what she thinks the forthcoming budget would bring in the area of personal taxes, she said that these increases were also warranted to account for inflation. These increases would entail loss of revenue for the exchequer but they were also needed to keep the limits in line with inflation, she explained. Re-introduction of inheritance tax unlikelyCommenting on the current speculation regarding re-introduction of inheritance tax, Iyer said "I don't think it will come in. Wealth tax was a...