"Small businesses across the country that had accounts at Silicon Valley Bank and Signature Bank can breathe easier knowing they'll be able to pay their workers. It won't cost taxpayers a dime. This is paid for with the fees that banks pay into Deposit Insurance Fund," said Biden.
CBDT chief Gupta said that the I-T department had taken several progressive steps to encourage voluntary tax compliance and facilitate a transparent and non-intrusive tax administration. One such major initiative is the e-Verification Scheme, 2021, which was notified on December 13, 2021.
"Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," read the statement.
Bharatiya Janata Party leader and former MP Vivek Venkataswamy on Sunday called Bharat Rashtra Samithi MLC K Kavitha as "liquor queen" alleging that she reduced value added tax on the liquor and increased the commission on the same.
The Telugu Desam Party (TDP) national general secretary, Nara Lokesh, on Saturday said that the Jagan Mohan Reddy Government is imposing a heavy burden on the people in the shape of various kinds of taxes and once the TDP comes to power again, all this burden will be reduced.
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The provisional figures of direct tax collections continue to register steady growth and also said it registered 22.58 per cent higher than the gross collections for the corresponding period of last year.
In a bid to curb pollution, the Uttar Pradesh Cabinet has approved old vehicle scrapping policy for the state, State Transport Minister Dayashankar Singh told media persons on Friday.
For almost three years now, protests against load shedding, shortages of wheat and water, increased progressive taxation and land grab by Pakistan military has been a daily occurrence.
The Italian Tax Police (Guardia di Finanza) has uncovered evidence proving that the Chinese Communist Party routinely cooperates with several criminal organizations-- the Italian Mafia, Colombia's drug cartels, and Russian oligarchs--to launder billions of dollars, reported Bitter Winter.