Despite deregulation of petrol prices and a hike in retail prices of other regulated fuels in June 2010, oil marketing companies continue to incur.
The government is likely to ease the incidence of minimum alternate tax, or MAT, on infrastructure companies.
The 2011-12 Budget has failed to bring cheer to the Indian IT sector as Finance Minister Pranab Mukherjee did not make any major announcements to boost the segment.
'Are we so ready to believe that in this country whose virtues we constantly shout from the rooftops, there is no single person -- other than Modi -- in a minimum of 272 elected MPs with the talent and ability to lead this country?' asks Prem Panicker.
Decision on Kirti Parikh recommendations will be taken in due course
Union budget provides no major fillip to the ailing sector.
The increase in liability towards MAT will be matched by an incremental deferred tax credit.
Changing the rules of the game for developers or units who have already committed funds upsets the financial calculations that guided the investment decision. It is another matter if the government makes it clear that newcomers will be subject to taxes.
The Finance Minister is slated to announce on Thursday the budget proposals for the next fiscal.
Despite higher allocations, core sector likely to see reduced profitability.
Personal income tax saw contraction shrink to 13 per cent by November from 22 per cent seen up to September, on the back of lower issuance of refunds and improvement in economic conditions.
Post the change in debt fund taxation in March, a lesser-known hybrid fund has emerged as one of the alternatives for fixed-income investors. Equity savings schemes, the smallest hybrid fund category in terms of assets, have raked in around Rs 6,000 crore this financial year (FY24) so far compared to Rs 1,100-crore outflow in FY23. The inflows along with a strong performance led to a 50 per cent surge in assets under management (AUM) to Rs 24,100 crore during April-November, shows data from the Association of Mutual Funds in India (Amfi).
The slowdown in the US economy along with domestic factors like service tax on leased and rented premises and imposition of minimum alternate tax may impact revenues and earning growth rates of all major IT companies of India.
The US slowdown, service tax on leased and rented premises and imposition of minimum alternate tax are expected to take a toll on the revenue and earnings growth rates of all frontline IT companies in 2007-08.
The appreciation of the rupee, the dividend distribution tax and the hangover of the minimum alternate tax on information technology companies under the Software Technology Parks of India scheme have pulled the prices of IT stocks down.
India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors. India, Sitharaman said, will "look forward to furthering ... bilateral interests through development cooperation and new investment opportunities through Alternate Investment platforms for renewable energy."
Excise duty on formulations has increased from 4 per cent to 5 per cent.
More relief is in store as the revised draft suggested a less taxing dispensation for triggering the General Anti-Avoidance Rule.
The levy of clean energy cess on domestic and imported coal at Rs 50 per tonne can affect select players with captive thermal power plant, and also soda ash producers.
The hike in excise duties will be largely passed on to customers.
The robust revenue collection reinforces hope of a good economic performance in the third quarter of financial year 2020-21 after the surprising pickup seen in Q2.
Nearly 100 foreign funds have been asked to cough up an estimated $5-6 bn.
The eGoM, headed by External Affairs Minister Pranab Mukherjee, is likely to take up issues including demand from developers to revise the 5,000 hectare land ceiling for one SEZ.
Foreign companies that do not have a permanent establishment in India will be exempt from paying minimum alternate tax.
More than Rs 2 lakh crore was wiped off from the overall investor wealth
Minimum taxes on foreign portfolio investors have been removed.
The commerce ministry is proposing a host of direct and indirect incentives such as deferral of import duties and exemption from export taxes to revamp Special Economic Zones through a new legislation, an official said. In the Union Budget this year, the government proposed to replace the existing law governing Special Economic Zones (SEZs) with a new legislation to enable states to become partners in 'Development of Enterprise and Service Hubs' (DESH). The official said the commerce ministry has sought views of different ministries, including finance, on the new bill.
MAT has damaged investor confidence
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
'Given that debt AIFs, by nature, target a higher portfolio return, it is likely to attract investors like HNIs, family offices, etc, looking for a higher yield debt product.'
While the ratio determines the extent to which the government is able to finance its expenditure, it is also an indicator of tax compliance. Developed countries have a higher contribution of tax to their GDP.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The government appears serious about its intent to do away with the sore points in the taxation laws.
The RBI holds its next policy meeting in early June.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
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