The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
Aviva Life Insurance on Wednesday launched two new funds -- a secure guarantee fund and equity-oriented growth fund.
Airlines say ATF fuel prices in India are 40 per cent higher than in countries such as Singapore. Jharkhand, Chhattisgarh and Maharashtra
A vast majority of the business leaders believe that the Production Linked Incentive (PLI) schemes have been beneficial and expect an extension to other sectors in the coming years, a Deloitte Survey said on Friday. An overwhelming number of survey respondents hope the budget will fuel growth across industries by building strong domestic demand and focussing on capital expenditure and believe that it would define the 'Amrit Kaal'. "Critical to this growth will be the pace of capital expenditure, infrastructure development, and the need to boost infrastructure financing through private partnership. 60 per cent of respondents suggested raising funds through Indian Government Bonds," the survey said.
A carbon tax may be a better approach in lowering greenhouse gas emissions than the caps and tradable permits legislation being considered by many American lawmakers, according to a new study.
Double tax exemption on wages paid to women can encourage companies to hire, retain and compensate women better, argues Nitin Pai.
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
Gaming industry is estimated at $40 billion and is expected to reach $59 billion.
Budget announcements will come right before five states, with population of around 250 million, go to polls.
In his State of the Union address to the US national legislature on Tuesday, Obama said: The American people deserve a tax code that lowers incentives to move jobs overseas and lowers tax rates for businesses and manufacturers that create jobs right here in America.
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
In the late 1990s, the Gujarat government had issued a policy allowing deferment of sales tax/VAT up to a certain amount, with the benefit capped for a period not exceeding 17 years. Projects with investment over Rs 1,000 crore could be eligible for the tax benefit. A deferment benefit on sale tax means a dealer is allowed to postpone the payment of tax on purchase of raw materials sales of products for a fixed period or/and up to a specific monetary limit.
'If more than 60 commissioner-level tax officials were compulsorily retired in the span of a few months, surely the malaise is far deeper,' notes A K Bhattacharya.
Jaitley assured that both the banking system and the government will make the resources available to them.
OSAT majors have concerns about India's ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
The bonds' unattractive structure seem to have found little favour with eligible taxpayers and infrastructure finance companies are hoping the government would do something to enhance product appeal.
China is contemplating levying carbon tax and raise the prices of petroleum for the next five years as an incentive to cut greenhouse gas emissions and help realise green targets, an expert said on Monday.
Encouraging results for PayTM (One97 Communications) for the 2022-23 financial year (Q4FY23) have led to a surge in the company's stock price, gaining nearly 5 per cent during Monday's trade. PayTM reported Q4FY23 revenues at Rs 2,330 crore, up 51 per cent on year-on-year (YoY) basis (13.2 per cent quarter-on-quarter or QoQ), led by monthly transaction user (MTU) growth of 27 per cent and average revenue per user or ARPU growth of 19 per cent YoY. MTU is defined as users with at least one transaction/month.
'The consensus was that the debate was between looking backward and looking forward.' 'Trump, with his great enamourment of his own 'achievements,' was obviously looking backward, while Harris, nearly 20 years his junior, was focussing on the future, with hope,' notes Shreekant Sambrani.
Sectors throw up a wishlist for the Finance Minister.
'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
The tax authorities and insurance regulator Irda are working on the possibility of removing Service Tax on first premium.
The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wish list for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) secretary general Sudarshan Jain said the domestic pharma industry is currently around $50 billion in size and aspires to grow to around $130 billion by 2030 and $450 billion by 2047. "To achieve this vision, the Union Budget 2023-2024 should help fuel innovation and R&D, which will set the pace for propelling the pharmaceutical industry forward," he told PTI.
The Indian government is keen to woo major semiconductor players, but a global race to attract them to countries where there is already an ecosystem is making it difficult for India to attract the biggies in the business. On Wednesday the government decided to throw open the doors to more players to participate in its semiconductor scheme. It is now looking at not only 28 nanometre (nm) chips and below, but higher nodes like 40 nm.
To resolve the so-called 'angel tax' issue, the start-ups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums, she said.
In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
Rajan said expecting the government to provide all solutions wasn't right.
To give impetus to the real estate sector, Goyal proposed to extend the period of exemption from levy of tax on notional rent on unsold inventories from one year to two years.
Ministry will give relief to exporters through a mechanism that will enable a timely refund of credit balance and time-bound refund of additional duty of customs.
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer.
With a focus on direct, indirect, and corporate tax structures, the Budget 2016-17 offers a balanced taxation structure
The wise pay their taxes on time and plan for it before time. That does not mean one has to necessarily go through the big fat books on taxes! Knowing a couple of hacks for saving tax can have it sorted for you.
Supporting the Finance Ministry's view that tax exemptions to the developers and units in SEZs are a drain on economy, the Organisation of Economic Cooperation and Development has asked the government to review tax exemptions in these areas.
Giving major relief to budding entrepreneurs, the government on Thursday allowed startups to avail tax concession only if total investment including funding from angel investors does not exceed Rs 10 crore.
'While the Budget would be growth-friendly, it would not come at the expense of an increase in the fiscal deficit.'
The panel's report also provides a range for fiscal deficit and debt path of both the Union and states and also recommended additional borrowing room to states based on performance in power sector reforms. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman.
Investors should await consistent growth metrics before looking at an investment in the company.
It would perhaps make more sense if the finance ministry gave greater emphasis on the need for a similar exercise to phase out exemptions and concessions in indirect taxes like customs and excise.
The government's capex spend is expected to rise and much of this is likely to be focussed on rural India, particularly for housing, roads and irrigation.
Buoyed by about 19 per cent jump in tax collection, the government may further moderate taxes in the Budget with the Economic Survey on Monday prescribing a tax reform mantra to unburden India Inc.
