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ROUNDUP
INDUSTRY
NEWS
India to have 8% growth I-T appeals only for Rs. 10L and above
this fiscal: NITI Aayog VC In a bid to reduce litigation and spare taxpayers harassment, the Central Board
of Direct Taxes has increased from Rs 4 lakh to Rs 10 lakh
Expecting an upward revision of the the threshold for filing an appeal before the Income Tax Ap-
first quarter gross pellate Tribunal. The threshold limit for an appeal by the I-T
domestic product department before the High Courts has been doubled to Rs
(GDP) numbers, NITI 20 lakh. The threshold for I-T department appeals before SC
Aayog vice-chairman remains at Rs 25 lakh.
Arvind Panagariya
said that the National chemicals policy within a month: Min of
economy can still Chemicals
manage an 8% growth this fiscal. The government will come out with a national policy on chemicals in a month,
Ananth Kumar, Minister of Chemicals and Fertilizers, said. "Our
"I have consistently maintained that national policy on chemicals, first ever in independent India is
the economy is moving forward and finalised, we have already sent it to the Cabinet and I think
we have seen the growth shift up to very soon we are going to have a national chemical policy,
7.4% (in the second quarter) now," which will be having some niche things like national chemical
Panagariya said, adding,"I still remain development centre, which is going to promote research and
optimistic...perhaps we will see some-
what revision in the first quarter fig- development," said Kumar.
ure also. So my prediction remains
that by the time we get to the fourth E-commerce site Flipkart sell cars, motorcycles online
quarter we would get to about 8%."
Online marketplace Flipkart has started a local experiment in Bengaluru, its
Tata Motors goes for hy- headquarters, to sell cars and motorcycles. The e-
commerce major has signed with two local dealers,
brids after diesel ban Khivraj Motors for Bajaj motorcycles and Kalyani Mo-
tors for Maruti Suzuki cars, to sell on its platform and
With the future of diesel coming un- within Bengaluru. It is also encouraging its employ-
der a cloud of un- ees with offers to buy vehicles from its partners.
certainty, follow-
ing issues raised This comes after rival Snapdeal in November 2015 launched Snapdeal Motors,
by the National a platform for automobiles, offering an "integrated buying experience", enabling
Green Tribunal, online booking and loan approvals within two minutes of a vehicle purchase on
companies such as Tata Motors are the site.
fast moving towards alternate
sources such as hybrids and electric
technologies.
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