The BJP is the preferred choice because it offers what the Mughals and later British offered in their time: A stable polity and an environment in which business could function, explains T N Ninan.
While analysts assessed One97 Communications (Paytm) Q1FY24 results as in-line with guidance, the market was disappointed and the stock fell by around 5 per cent. Paytm reported a net loss of Rs 360 crore, but revenue grew 39 per cent year-on-year (YoY) to Rs 2,340 crore. It was supported by strong growth in gross merchandising value (GMV), higher disbursements and the addition of subscription devices.
Commerce ministry has written to finance ministry to retain all the fiscal incentives for the special economic zones in the new direct tax code.
The government has also proposed to set up a Mission on Low Cost Affordable Housing to be anchored in the National Housing Bank.
Exemptions, and the fact that farm income is outside the tax net, ensure that India's tax-GDP ratio stays low.
The environmentalists are doing genuinely good work to promote more favourable situation for the earth to survive the rampaging attack on ecology. But in the process one has to look for the correct method. The environmentalists advocate eco-tax and eco-subsidy to cope with pollution.
According to the CBDT, if a social media influencer retains a product from the manufacturing company after using for the purpose of rendering service, then it will be treated as a benefit/perquisite under newly-introduced Section 194R of the IT Act.
If the company A is located in a non-GST state, it would pay a total tax of Rs 300 (Rs 200 on finished product and Rs 100 on input), compared to Rs 200 paid by other producers in a GST state. The Centre is hoping that in such a scenario companies in GST states would lobby for introduction of the pan-India tax, which will subsume most state and Centre-level taxes.
Indirect tax revenues rose marginally by 5.6 per cent in the April-October period to over Rs 2.85 lakh crore, mainly on account of increase in service tax and customs collections.
The government on Monday proposed income tax benefits for people making payments through credit or debit cards and doing away with transaction charges on purchase of petrol, gas and rail tickets with plastic money.
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
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."
as the FAME II deadline of March 31, 2024, nears, EV manufacturers are worried about their investments and future plans.
Five key capital market announcements from the previous Budget.
Duty cut on raw material imports are not likely.
The government may roll out a new foreign trade policy (FTP) of a shorter term of two-three years in a bid to keep pace with the fast-evolving scenarios in international trade which have been triggered by recent disruptions, such as the pandemic and the Russia-Ukraine war. An FTP is an elaborate policy guideline and strategy to promote the export of goods and services, with a duration of five years usually. The existing policy came into force on April 1, 2015, and was valid for five years, before multiple extensions.
Once the income has been classified as either business income or capital gains, be consistent.
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
The Budget has unveiled measures that should now pave the way for India to progress from Make in India to 'Innovate in India'.
There are high hopes that the Budget for 2014-15 to be presented in Parliament may actually not tinker with the threshold limit or the other tax slabs but could provide reliefs by incentivising savings.
Businesspersons who have the potential to contribute to the economy of a country are given a red carpet welcome by way of a start-up visa.
'If you do quick back-of-the-envelope calculation, someone earning Rs 10 lakh can get a benefit of anywhere between Rs 35,000 and Rs 45,000, even if s/he is availing exemptions.' 'A large proportion of people do not avail full exemptions as they don't have money to invest in those schemes.'
On the telecom sector, he demanded auctioning of more spectrum.
'All of us have believed in decentralisation. You may not like property taxation, neither do I. My solution is that the Centre does the tax collection, but we can give a matching grant instead of redistribution,' says the outgoing CEA, Arvind Subramanian.
Finance Minister Nirmala Sitharaman on Tuesday sought to know from industry what is holding it back from investing in manufacturing, even though foreign investors show confidence in India. Drawing parallel between India Inc and mythological character 'Hanuman', Sitharaman said the government is willing to engage with the industry and take policy action. "This is the time for India... We cannot miss the bus," she added.
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the ministry of road transport and highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
Finance Minister P Chidambaram on Friday favoured 'a close hard look' at tax exemptions in a bid to bring fiscal prudence.
At present, the NMP states a series of fiscal incentives, including tax sops, will be offered but only to small and medium enterprises.
A total of 728 applications have been received till July 18, 2016 for Start Up recognition.
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the Ministry of Road Transport and Highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
Tax department sends notices saying they are liable to pay MAT.
Farm loan waivers should not be regarded as expenditure but as incentive and investment, argues B S Raghavan, the distinguished civil servant.
Nearly two weeks after Parliament passed a bill for bifurcation of Andhra Pradesh, the central government has decided that the new Telangana state will be born on June 2.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
