Refunds save the day for April direct tax collection; mop-up down 5%

Immediate tax collection surged 36.5 for each cent to Rs 34,784 crore in the very first month of fiscal calendar year 2020-21, even with a nationwide lockdown, many thanks to a 63 for each cent calendar year-on-calendar year (YoY) slide in tax refunds in April.

With no accounting for refunds, the collection contracted 5.4 for each cent, indicating muted economic exercise as the Covid-19 pandemic and subsequent curbs paralysed most sectors.

Gross immediate tax collection stood at Rs forty one,556 crore in April, as in opposition to Rs 43,950 crore in the corresponding period of time last calendar year. Refunds of Rs six,772 crore were about a 3rd of the total disbursed in the exact month last calendar year, at Rs 18,474 crore, which boosted web collection. By the way, the governing administration last month announced expediting refunds up to Rs 5 lakh to strengthen hard cash flows for folks

Read More

MBA students demand tuition fee refunds over campus closures

MBA college students at some of the world’s major business schools are demanding a refund on their tuition charges as payment for campus closures and the swap to what they view as inferior on the internet mastering.

A petition circulating among the college students at The Wharton Faculty, exactly where charges by itself for a two-12 months MBA diploma can exceed $one hundred sixty,000, has gained near to 900 signatures, equivalent to a one year’s ingestion.

At Stanford’s Graduate Faculty of Small business, exactly where the two-12 months MBA programme fees $a hundred and fifty,000 in charges, an on the internet petition has been signed by the equivalent to eighty for each cent of the class. College students have created similar calls for at Northwestern University’s Kellogg Faculty of Management and at Insead.

“They have obviously proven that they do not treatment about us,” stated an MBA candidate at Insead’s

Read More