The Gujarat International Finance Tech-City, or Gift City, is expected to be spread over 886 acres and will have a special economic zone on 261 acres.
Finance firms in these SEZs likely to get tax breaks.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
Trading in other derivative products in currency, commodities expected to begin soon.
The move is meant to curb or reverse the export of India's financial markets to overseas trading platforms.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai.
Companies in China, South Korea and Indonesia pay 25 per cent tax, while those in Malaysia pay 24 per cent. Only Japan has a higher tax than India at 30.6 per cent. Hong Kong has the lowest corporate tax rate of 16.5 per cent while Singapore has 17 per cent rate and Thailand and Vietnam levy 20 per cent tax on companies.
'The introduction of a tax on LTCG will be a deterrent for foreign investors and could potentially result in a movement of trading activity away from India to other offshore jurisdictions such as Singapore, which offer better tax rates and sophisticated financial products.'
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.
An argument used for removal of this exemption is that it is used to launder black money and bring it in as clean tax paid money by manipulating the price of less liquid shares in the market, says Harsh Roongta.
The regulations will only apply to the share purchases that have been done after October 1, 2004
While for the consumers, there is some gain and some pain, for India Inc, it's all about compliance, consolidation and parity
'Many of the challenges of investing in commercial real estate get taken care of when an investor takes the Reit route,' points out Suraj Nangia.
Experts said the slowdown could be attributed to adjustments leading to destocking and the offering of discounts by companies as the government ushered in the new indirect taxation system on July 1.
Budget 2018 bears imprints of a government unsure of second term with clear majority, says Shekhar Gupta.
The market players were expecting that if long-term gains are taxed, the STT would go. But this has not happened, says Debashis Basu.
What is required from government is intellectual framework.
Investment guru and mutual fund expert Ashok Kumar, answers all your MF related queries.
Ministry considering tax sops for India's first global financial centre, steps to liberalise futures and options markets.
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
'The government's projections for 2019-2020 will be disappointing big time.'
Pitching for a slew of reforms in the Indian capital markets, leading bourse BSE has suggested the government bring in a new transaction taxation structure and besides seeking tax pass through status for Infrastructure Investment Trusts (InvITs).
A key demand is to reduce the dividend distribution tax on listed firms.
Higher levy on dividends earned by individuals also on radar.
The Budget has levied a pollution cess on petrol, diesel cars and SUVs and offered a one-time compliance window for domestic black money holders slapping a tax and penalty of 45 per cent.
Demand among several pre-Budget representation by BSE Brokers' forum
BSE's, NSE's overnight liquid fund facility can help stock investors maximise returns
From July 1, retail investors can offer stocks through exchanges for de-listing, buyback and open offers
The proposed tax exemptions and benefits notwithstanding, these new investment instruments would still be 'revenue accretive' for the government in the form of additional taxes.
REITs, a new investment avenue in India on the lines of one in developed markets like the US, UK, Japan.
Government needs to rationalise taxation policies to promote investments through stock markets, says BSE chief.
How the Aadhar card would be linked to income tax return is yet not clear
The exchange, say sources, began mock trading from early October and around 250 Indian brokers have said they'd take membership of the international exchange.
The tax imposed on buyback of shares and employee stock options is different in case of listed and unlisted companies, says Sudipto Dey
The 50-share NSE Nifty was trading lower by 24 points.
There have been demands from a section of stakeholders that the long-term capital gains tax on equities be reimposed.
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
Instruments such as Reits, InvITs, unsponsored GDR, GIFT find few takers.
Debashis Basu lists various reasons why laundering through the stock market thrives.
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