Tax incentives for International Financial Services centre Transfer of derivatives and certain securities by non-residents exempted from capital gains tax Non-corporate taxpayers operating in IFSC to be charged alternate minimum tax at concessional rate of 9% at par with minimum alternate tax applicable for Corporates In order to promote trade in stock exchanges located in International Financial Services Centre (IFSC), the Union Finance and Corporate Affairs Minister Shri Arun Jaitley proposed to provide two more concessions for IFSC. Presenting the General Budget 2018-19 in Parliament here today, Shri Jaitley proposed to exempt transfer of derivatives and certain securities by non-residents…
Author: Amit Bhanot
Finance Minister Shri Arun Jaitley presents general Budget 2018-19 in Parliament. Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors Government says, a series of structural reforms will propel India among the fastest growing economies of the world. Country firmly on course to achieve over 8 % growth as manufacturing, services and exports back on good growth path. MSP for all unannounced kharif crops will be one and half times of their production cost like majority of rabi crops: Institutional Farm Credit raised to 11 lakh crore in 2018-19 from…
Announcing that a provision of Rs. 3794 crore has been provided in the General Budget 2018-19 for the Medium, Small and Micro Enterprises (MSMEs),the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley said that this has been done to provide credit support, capital and interest subsidy and innovations to this Sector. Presenting the General Budget 2018-19 in Parliament here today, Shri Jaitley added that an outlay of Rs.7148 crore has been provided for the Textile Sector. Strongly emphasising that creation of job opportunities and facilitating generation of employment has been at the core of policy-making of the Government…
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has proposed a reduced rate of 25% to companies that have reported turnover up to Rs 250 crores in financial year 2016-17. This will benefit the entire class of Micro, Small and Medium Enterprises which accounts for almost 99% of companies filing their tax returns. Accepting Rs 7,000 crores as the estimated revenue forgone due to this measure during the financial year 2018-19, the Finance Minister, while presenting the General Budget 2018-19 in Parliament here today, said, “This is towards fulfilment of my promise to reduce corporate tax rate…
The Government has initiated efforts to generate funds as well as undertake banking sector reforms. The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitely, while presenting the General Budget 2018-19 in Parliament here today said that the Government has initiated the process of strategic disinvestment in 24 CPSEs including strategic privatization of Air India. Highlighting the Government’s effort to generate funds, the Finance Minister said that the Exchange Traded Fund Bharat-22 which was introduced to raise Rs. 14,500 Crore, was over-subscribed in all segments. Similarly, the 2017-18 Budget Estimates for disinvestment were pegged at the highest ever level…
(PTI) Finance Minister Arun Jaitley on Thursday said India is expected to register a growth rate of 7.2-7.5 per cent in the second half of the current fiscal and is on way to becoming the 5th largest economy of the world.While unveiling the Budget 2018-19, he said, India has grown on an average of 7.5 per cent in the first three years of the current government and has become a USD 2.5 trillion economy. “We hope to grow at 7.2 to 7.5 per cent in the second half of the current fiscal,” Jaitley said in the Lok Sabha. India has…
(PTI) Petrol and diesel prices in India are to a “large extent” aligned to international rates, Indian Oil Corp (IOC) Chairman Sanjiv Singh said today, responding to the charges of government meddling in fixing of fuel prices. The prices are revised daily based on 15-day rolling average rate of their international benchmark, he said. “To a large extent, our prices are aligned to international product prices,” he said. He was responding to questions on government interfering with rates of deregulated fuels at a press briefing called to discuss the company’s third quarter earnings. Prices in international markets have been fluctuating…
(FE) Giving a massive hike in salary, the Modi government today announced that the pay of the Supreme Court and all high courts judges has been increased by nearly 200 per cent. As per the new pay scale, the Supreme Court judges will now draw Rs 2.8 lakhs per month while the judges of the high court are entitled to get Rs 2.5 lakhs per month. On January 2, the Lok Sabha took up a bill which seeks to hike the salaries of judges of the Supreme Court and high courts by over two folds amid demands by parliamentarians for…
(NDTV) केंद्र सरकार ने नारंगी पासपोर्ट जारी करने का फैसला वापस ले लिया है. सरकार की यह योजना थी कि जिन्होंने 10वीं की परीक्षा पास नहीं की है, उन्हें नारंगी रंग का पासपोर्ट दिया जाएगा. सरकार के इस फैसले का यह भी अर्थ है कि पासपोर्ट का अंतिम पन्ना पहले की ही तरह छापा जाएगा. भारतीय पासपोर्ट के आखिरी पन्ने पर पते की जानकारी होती है. पासपोर्ट में लिखा पता मान्य प्रमाण के रूप में स्वीकार किया जाता है. विदेश मंत्रालय ने विदेश मंत्री सुषमा स्वराज की अध्यक्षता में समीक्षा बैठक के बाद पिछला फैसला बदला. इस मुद्दे को लेकर…
Rs.20,339 crore has been approved by the Government in 2017-18 to meet various obligations arising from interest subvention being provided to the farmers on short term crop loans, as also loans on post-harvest storages meets an important input requirement of the farmers in the country, specially small and marginal farmers who are the major borrowers. This was stated in the Economic Survey 2017-18 tabled by the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley in the Parliament today.The Survey further adds that this institutional credit will help in delinking the farmers from non-institutional sources of credit, where they…