Concessional rate of tax on dividends received by Indian companies from foreign subsidiaries will be done away with from April 1, a change that may hamper global expansion of Indian companies and compel some firms to move their headquarters out of India to geographies such as Singapore and Dubai. At present, dividends received by Indian companies from their foreign subsidiaries are subject to a concessional tax rate of 15 per cent under Section 115BBD of the Income Tax (I-T) Act. The provisions of this section shall not apply from assessment year 2023-24 onwards, according to the Finance Bill.
FM proposed rationalisation of various tax exemptions.
This is the BJP's first full-year Budget.
Post Office has 1,54,000 rural branches.
Budget has laid emphasis on increasing social spends
Large moves in equity and in currency are expected during March settlement.
The diesel variant offers fuel economy of 26.59 kmpl.
DLF Ltd on Friday said it was reviewing an order from the country's market regulator that fined the company and its top management $8.4 million.
The Bench did not agree with the submission that in the past, Centre had postponed presentation of Budget due to assembly polls.
Though not a blockbuster budget it does not undermine the fact that key issues were addressed and the finance minister certainly did not under-deliver, says Vatsal Srivastava.
Jaitley's fifth Budget has provided little relief to the middle class.
All these measures will revitalise the manufacturing sector, which has been in doldrums.
Budget fails to cheer realty players.
The government will conduct a spectrum auction this year, which will facilitate the roll-out of 5G services by private telecom operators during the financial year 2022-23, Finance Minister Nirmala Sitharaman said on Tuesday. "Spectrum auctions will be conducted in 2022 to facilitate the roll-out of 5G mobile services within 2022-23 by private telecom providers," Sitharaman said. She said the telecommunications sector in general and 5G, in particular, can enable growth and offer job opportunities.
The additional amount will be exclusively earmarked for the hospitality and related segments to help them recover to pre-pandemic levels. Presenting the Budget 2022-23 in Parliament, the finance minister said the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme will be revamped with required infusion of funds.
The Rail Budget is full of hollow promises, the Congress leader said.
Following the demonetisation move, the recast in direct tax moves is expected to give a boost the economy.
The government on Tuesday announced revoking of anti-dumping duties on certain steel products imported from countries including China, a move aimed at containing high prices of metals and promoting domestic manufacturing.
More funds are expected to be allocated for the new crop insurance scheme, PMSKY and RKVY.
Using lines of a popular Hindi song, "Kya hua tera vaada (what happed to your promises)," Lalu attacked the PM.
The Budget shouldn't be stuck on fiscal numbers, the PMO apparently said.
Corporate honchos from real estate sector to manufacturing to textile say the Budget does not have enough to help their sectors
The finance minister defended the change in the tax rates.
The people of the nation co-operated and patiently waited for the government's promised "ache din", and now they want their just rewards, says Adhil Shetty.
This finance minister has come of age. That's not condescension. It is a praise, says Omkar Goswami.
The rupee bounced back by 10 paise to end at 68.62 on Friday.
Finance firms in these SEZs likely to get tax breaks.
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
Budget 2014 is a strong first step to slowly re-architecting and reviving our economy and transform India, says Rajeev Chandrasekhar.
There has been nothing consolidated in the Budget for this section that may transform entrepreneurship in any meaningful way
For maintaining sustained demand in domestic consumption and household investment, the economy must generate enough jobs in the formal sector,says Shubhashis Gangopadhyay.
While the finance minister had a great opportunity to come out with flying colours while presenting this last Budget of his government, he didn't, says Omkar Goswami.
Arguably one of the toughest engineering challenges in hand, the Indian Railways plans to complete the Chenab bridge in Jammu and Kashmir by 2016, making it the world's highest rail bridge.
Two stock market experts discuss their wishlists for Union Budget 2017 with Rediff.com's Aslam Hunani.
Rail Budget showcases a vision to reorganise, restructure and rejuvenate Railways
It is a Budget 'high on promises but low on design,' the agency said.
Aditya Birla Money MD talks about liquidity concerns in the market.
20 new industrial clusters will be developed in 2014-15.
Railway Minister Suresh Prabhu presented the Railway Budget at the Parliament on Thursday.
In September 2013, FMC was brought under the Finance Ministry.
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