Levying buyback tax at a flat rate of 20 per cent (plus applicable surcharge and cess), irrespective of the period for which shares are held will be a dampener for equity shareholders who take inherent risks while investing, says Hitesh D Gajaria, partner and head of tax, KPMG in India.
The chairman of mortgage giant HDFC Ltd in his annual letter to shareholders, also suggested a one-time restructuring of real estate loans, easing of external commercial borrowing rules and immediate changes in regulations to allow end-to-end execution of housing loans online.
However, the government has enacted an important change to the fixed-term employment framework that may help companies in handing out contractual jobs to its existing permanent workforce.
Gandhi noted that lakhs of migrants continue to walk hundreds of kilometres to reach back their homes without food, water, medicines and cash. She also accused the central government and the Railways of completely ignoring the demands made by the Congress for ensuring the safe and free travel of migrant workers and labourers to their homes.
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
The Finance Ministry has started preparations for Budget 2014-15 by asking different central ministries and departments to come out with their estimates of receipts as well as expenditure for the next financial year.
RBI has invited case studies from participant banks by January 31.
'When an institution believes its knowledge and capability is superior to everyone, it behaves like a frog in the well.' 'And this is precisely the cause for the mess,' says J N Gupta.
'Modi has given India its 'lost half-decade'. Elect him again and by 2024 it will be a lost decade'
Retaining the GST rate assumes importance since states are under pressure to increase their revenues, hit hard by lockdown. Also, the Centre has not fully compensated states for their revenue losses on account of GST for 2019-20.
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
Ved Prakash who has been working in the field of recyclable raw materials for 29 years aims to 'create value' every day.
Investing in ETFs is similar to buying and selling shares on exchanges through your trading account, points out Ashwani Bhatia, MD and CEO, SBI Mutual Fund.
Persons making disclosure of unaccounted assets will be given time up to November 30 to pay taxes
Banks and oil companies are in discussions as to who should bear these charges, it said a day after averting a crisis that would have hit millions of people as oil pump owners threatened to stop taking card payments.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
The transformational reforms like GST, Bankruptcy Code and recapitalisation of banks, Black Money Act, demonetisation, flexible inflation targeting and adoption of fiscal discipline (FRBMA), etc, have temporarily and purposefully pulled us back only to propel us forward with greater velocity, Rajiv Memani.
The Bentayga can go from a standstill to 100 km/hr in 4.5 seconds, and, if you can keep your foot down, the speedometer will climb all the way to 290 km/hr!
There has been no discussion so far on cutting Plan expenditure, the Planning Commission said on Thursday even as it asked states to maintain fiscal discipline.
CII suggested the policy measures required to ease the tight liquidity situation by cutting CRR by at least 50 basis points.
Massive crowds thronged liquor stores, more vehicles plied on roads and cab-hailing platforms resumed services as India entered the third phase of the lockdown on Monday with further easing of curbs except in containment zones in the shadow of the highest rate of recovery yet from coronavirus.
'Their dharma propels them to pay their workers; otherwise, they know the boys would starve.' 'At the same time they will not allow their business to suffer,' observes Dr Sudhir Bisht.
With audits and greater emphasis on anti-evasion measures, more tax demands will lead to more litigation. So, it is a bit early to start celebrating. GST is still work in progress.
The transition to a single, nationwide tax on goods and services will streamline business and boost the economy by tearing down barriers between 31 states and union territories.
'This (opposition to the project) is not just architects, but everyone needs to know more.' 'We need to be allowed to participate, maybe, you can ignore what we have to say, that's your decision.' 'At least follow the process.
Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, writes Tamal Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, says Tamal Bandyopadhyay.
Many argue there's a mismatch between Prime Minister Narendra Modi's focus on international exposure and his government's diktat to officials on limiting travel.
'If the current mood in North Block, headquarters of the finance ministry, is anything to go by, the government will now keep a closer watch on all kinds of schemes and projects undertaken by different central ministries. 'The next six months will determine which central schemes will have to be wound up and which ones will survive the axe,' says A K Bhattacharya.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
Breaking silence over the Rs 12,967 crore scam at Punjab National Bank, he said: "I have chosen to speak today to convey that we at the Reserve Bank of India also feel the anger, hurt and pain at the banking sector frauds and irregularities."
'We believe 2017 could see higher flows from foreign institutions as money comes back to growth markets like India.'
'The IAS officers are after the rich people, the IRS officers are after the middle class and the IPS officers are after the poor. This is the new varnashrama created by the bureaucracy.'
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
The eligibility for loan issuance for salaried individual for car purchase has been raised from Rs 250,000 per annum to Rs 600,000 per annum, as per the recent circular of the bank.
A final call will be taken by Congress president Sonia Gandhi on Thursday.
A staunch defender of demonetisation, it would be interesting to see how he handles the government's increasing demand for more cash from the RBI, and letting some weak banks get out of prompt corrective action.
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
'The army has stopped short of exerting the sort of influence it may have done historically.' 'It is comfortable with its relations with the civilian government as the superior partner.'
Amber Dubey explains why India needs to stop blocking competition if it ever wants to become the top aviation market.
'The Modi government needs some big private sector trophies to affirm its anti-corruption credentials before the polls.' 'So on whose neck will the sword fall next?' 'To that extent, the outing of the ICICI Bank-Videocon story is cathartic,' says Shekhar Gupta.
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