Minimum Government – Maximum Governance Direct Tax > No income tax, if the annual total income is less than 5 lakhs. > Increase in surcharge for individuals having taxable income from Rs.2 crore to Rs.5 crore and above Rs.5 crore. > Corporate tax @ 25% for companies with annual turnover upto Rs.400 crores. > ‘Angle […]
FINANCE (No.2) BILL, 2019 PROVISIONS RELATING TO DIRECT TAXES & RELATED LAWS Introduction The provisions of Finance (No. 2) Bill, 2019 relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as ‘the Act’), to continue to provide momentum to the buoyancy in direct taxes through deepening and widening of the […]
Expert Committee to be set up to recommend the structure and required flow of funds through development finance institutions Regulation Authority over Housing Finance Sector proposed to be given to RBI Separation of NPS Trust from PFRDA proposed Six months’ Partial Credit Guarantee proposed to be provided to Public Sector Banks (RSBs) The Government has […]
India to move towards harnessing its space capability commercially, New Space India Limited (NSIL) incorporated towards this end Company to spearhead commercialization of various space products New Space India Limited (NSIL) has been incorporated as a new commercial arm of Department of Space. This was stated by the Union Minister of Finance and Corporate Affairs, […]
Government sets enhanced target of Rs 1,05,000 crore of disinvestment during 2019-20 Strategic disinvestment of Air India proposed to be reinitiated More CPSEs proposed for strategic participation by private sector Government is setting an enhanced target of Rs 1,05,000 crore of disinvestment receipts for the financial year 2019-20 said the Union Minister of Finance & […]
Union Budget proposes permitting 100% Foreign Direct Investment (FDI) for insurance intermediaries Easing of Local Sourcing Norms also proposed for FDI in Single Brand Retail sector Rationalization of existing Know Your Customer (KYC) norms for FPIs contemplated to make it more investor friendly NRI-Portfolio Investment Scheme Route proposed to be merged with Foreign Portfolio Investment […]
Whether the AO is correct in making addition in the return by considering the income as not from agriculture on the failure of Assessee to prove agriculture activity?
India’s FDI inflows in 2018-19 remained strong at USD 64.375 billion marking a 6% growth over the previous year. The Finance Minister proposed the following steps to further consolidate the gains in order to make India a more attractive FDI destination:
India to become a 3 trillion Dollar Economy this year and a 5 trillion Dollar Economy by 2024-25 India requires Investments averaging Rs. 20 lakh crores every year Gone are the days of policy paralysis and license-quota-control regimes: Finance Minister
The Union Minster of Finance and Corporate Affairs, Nirmala Sitharaman said that the Government proposes to start a channel within the DD bouquet of channels exclusively for start-ups.
