The economy overall was bleak last year with sticky inflation forcing the RBI to raise the interest rates aggressively.
'Everyone involved in this transaction must be punished and penalised.'
The Nifty ended at 4,605 -- up 148 points. Earlier in the day, the index opened at 4,459 and touched a high of 4,614. The market breadth was extremely positive. Out of 2,794 stocks traded 2,215 advanced while only 517 declined.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
The government on Wednesday released a brand new direct taxes code that will replace the 1961 Income Tax and other direct tax laws, saying it will provide a simple tax structure for better compliance.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
'Rather than abolishing stamp duty as STT is already levied on all transactions, the government has de-facto imposed a state STT in the guise of stamp duty'
Investors expect the govt to abolish tax on delivery-based transactions in the cash segment.
A strong start-up ecosystem can propel investment, jobs, and demand creation, and for that, substantial growth capital is required.
Events proved that on every count the RBI had accurately predicted both the damage and the lack of benefit. What the RBI was hiding was the fact that Modi had ignored its concerns -- all of which turned out to be true -- and gone ahead anyway, asserts Aakar Patel.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai.
The proposed move to withdraw the DDT would help encourage investments by addressing multiple taxation of income and bringing down the effective tax rate on companies, which is among the highest in the world.
Capital markets regulator Sebi on Tuesday decided to gradually phase out buyback of shares by companies through the stock exchange route to address the drawbacks associated with the existing mechanism. Sebi chairperson Madhabi Puri Buch said the regulator has chosen the tender offer route for share buyback as the present mode is vulnerable to favouritism. "This is a glide path and will lead to the phasing out of the present buyback mode (through stock exchange route)," she told reporters after its board meeting in Mumbai.
Jaitley's fifth Budget has provided little relief to the middle class.
Home Minister Amit Shah on Sunday lashed out at opposition Indian National Developmental Inclusive Alliance (INDIA) parties over Dravida Munnetra Kazhagam leader Udhayanidhi Stalin's remarks against 'Sanatan Dharma', accusing them of insulting 'Sanatan Dharma' for votebank and appeasement politics.
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
DDT is levied on dividends that a company pays its shareholders out of its profits. It is currently charged at the rate of 20.55 per cent, including a surcharge and education cess. Government may instead tax the shareholders receiving dividends, in a bid to help improve investor sentiment by addressing the multiplicity of taxes and bring down the effective tax rates for companies.
References to the repealed laws for service tax, purchase tax, etc, continue in the SEZ laws.
Most mutual funds charge an entry load of 2.25 percent on your investment. Here's why you NOT pay the load.
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
The Budget has levied a pollution cess on petrol, diesel cars and SUVs and offered a one-time compliance window for domestic black money holders slapping a tax and penalty of 45 per cent.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
If there is a morality tale here, it is that debt and death spare no king.
'By demonetising higher denominations of currency notes, we have taken out the vehicle for corruption.' 'But the motive is still there.'
There were heightened expectations from Budget 2017 after the impact of note ban on different sections but most remain unfulfilled.
"Protectionism is not new. The attention that is given is because there is a political and emotional element to it." TCS COO N G Subramaniam on why his company is optimistic despite global headwinds.
NDA government has shunned populism.
IIM-B, professor R Vaidyanathan talks to Shobha Warrier about black money, Mudra Bank and Jaitley's Budget.
