The government has exempted units of investment trusts and ETFs issued by entities based in GIFT City or traded in exchanges there from capital gains tax. The Central Board of Direct Taxes (CBDT) notified the exemption from capital gains tax any unit of investment trust; a unit of a scheme; and a unit of an Exchange Traded Fund (ETF) launched under the International Financial Services Centres Authority (Fund Management) Regulations, 2022. Gujarat International Finance Tec-City (GIFT)-IFSC is being promoted as a tax-neutral enclave for the financial sector.
The safety and security of citizens is primary for the government, he said.
As the year 2023 comes to an end, a look at some newsy events that shaped the world in the first half of the year.
Alternative investment funds (AIFs) - pooled investment vehicles catering to high net worth individuals (HNIs) - saw a 30 per cent increase in investment commitments during financial year 2022-23 (FY23). At the end of March 2023, the total investment commitments raised stood at Rs 8.33 trillion, up Rs 1.92 trillion from Rs 6.41 trillion at the end of March 2022. A commitment is the money clients are willing to put into AIFs.
BPO, which is growing at 12 per cent annually in the country, is expected to touch $50 billion by 2020 from the present $21 billion.
Highly placed sources said the test firing could take place any time this month.
The Supreme Court refused to stay Allahabad high court's December 14 order which allowed the primary survey of the Shahi Idgah complex adjacent to the Shri Krishna Janmabhoomi Temple in Uttar Pradesh's Mathura by a court-monitored three-member team of advocate commissioners.
Taking note of a plea of an Aam Aadmi Party councillor alleging wrongdoing in the polls, the court issued notices to the Chandigarh authorities, including the civic body.
Only three countries (United States, Russia and China) have successfully landed spacecraft on the airless lunar surface.
On Sunday, at 12.07 am in Sriharikota, off the coast of the Bay of Bengal, it was almost like an early Diwali, with the sky lit up by the launch of 36 OneWeb satellites. The Indian Space Research Organisation (Isro) did the launch on a 43.5-metre-tall Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk III) rocket. After the countdown, which started 24 hours in advance, once the mega screen marked the launch, a select group of invitees at the gallery cheered by applauding the feat.
India has placed orders for 10 C-17s Globemaster III airlifters, of which five would be delivered this year and rest five in 2014. The flight test programme would be carried out at the Edwards Air Force Base in Valifornia.
India will begin supply of ultra low sulphur content petrol and diesel in all but seven states from April 1, the government announced on Thursday.
Wen Johnson (24) had intruded into the pitch at Ahmedabad's Narendra Modi Stadium just before the drinks break in the final at around 3pm, but was immediately apprehended by security personnel as he approached batter Virat Kohli.
Khichdi needs a lot more masala, observes Deepa Gahlot.
While the Army will be getting around 100 light utility helicopters, it is also looking at the option of taking choppers on lease to meet its requirement.
Is the premium pricing of Samsung Galaxy S III justified? Will it take on the competition from iPhone, HTC?
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
The Madras high court on Tuesday observed that the continuance of V Senthil Balaji as a minister without portfolio in the MK Stalin-led Tamil Nadu cabinet will serve no purpose and it does not augur well with the principles of good governance and purity in administration.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
The Quad summit to be hosted by India in 2024 is likely to enhance New Delhi's strategic intent.
A bench of Justices Sanjiv Khanna and Dipankar Datta stayed the implementation of the December 14, 2023, order by which it had agreed to the appointment of a court commissioner to oversee the survey of the mosque premises which, the Hindu side claims, hold signs suggesting that it was a temple once. However, the apex court made it clear that proceedings before the high court in the dispute including the maintainability of the suit under Order 7 Rule 11 of the Civil Procedure Code (CPC) will continue.
The Supreme Court on Friday refused to stay the proceedings before the Allahabad high court on suits related to the Sri Krishna Janambhoomi-Shahi Idgah dispute, saying it will not be fair to interfere with the high court order without hearing both the sides.
The Mizoram assembly elections passed off peacefully on Tuesday with over 77 per cent of 8.57 lakh electors exercising their franchise, officials said.
Ukrainian President Volodymyr Zelenskyy makes a surprise visit to the UK in his second visit outside Ukraine since the Russian invasion nearly a year ago.
The palace said the Queen Mary Crown was removed from display at the Tower of London to be repurposed for the ceremony on May 6 with jewels paying tribute to the late Queen Elizabeth II.
Wind speed at the time is expected to be in the range of 125-135 kmph gusting up to 150 kmph.
Last year's open-water swim competitions took place at the French capital's Parc de la Villette in northern Paris.
The Islamic State militants have released a second video of British journalist John Cantlie in less than a week which shows him warning US-led coalition against carrying out military operations against his captors.
Herzog further claimed that Iran is supporting the "terror machine" by providing billions of dollars aiming to undermine the regional situation.
India succefully test-fired a 3,000-km Agni-III missile on April 12 this year.
This shift is driven by a pursuit of a superior lifestyle and an innate desire to be grounded in an owned plot of land. Villas, situated within gated housing societies, have gained popularity as a property type, witnessing strong traction due to elevated aspirations and the need for more living space.
The income tax department has notified rules for valuation of equity and compulsorily convertible preferable shares issued by startups to resident and non-resident investors. As per the changes in Rule 11UA of I-T rules, which comes into effect from September 25, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method.
'I'm honoured to mark the unforgettable occasion of the #Coronationconcert by wearing the collaborative vision of two of the most incredible designers from the two countries I'm lucky to call home.'
Make no mistake, there's never a dull moment in God of War III, but you can help feel the momentum drop a bit during certain parts of the game.
They have three children: Xavier (15), Ella-Grace (14), and Hadrien (9).
Chief Justice of India D Y Chandrachud on Tuesday said the State has an obligation to recognise unions entered into by queer couples and grant them benefit under the law.
As photographs and video clips were distributed on social media, aviation security watchdog BCAS issued show cause notices to IndiGo and Mumbai airport operator MIAL over the incident, official sources said on Tuesday.
'With the current situation in the global job market, students come back with an added burden of educational loans.'
'Now that we are a pure-play India business, many investors are open to investing.'
