The Insolvency and Bankruptcy Board of India (IBBI) vide its notice dated 12th June, 2019 invited applications for Empanelment of Providers of Platform for Distressed Assets (PDAs). In this regard, a pre-application meeting was held at IBBI’s office on 26th June, 2019. Certain queries were raised during the meeting as also were forwarded through email. In accordance with clause 7B and 7C (Page 14) of the said notice, clarification in respect of the following queries are given below:
Several tax proposals aim to promote investments in start-ups and sunrise industries in the country Lower 25% corporate tax rate is to be applicable to those with annual turnover upto Rs.400 crore instead of the current limit of Rs.250 crore Increase in surcharge by 3% for those with taxable income between 2-5 crore rupees and […]
Indian economy becoming a 3 trillion dollar economy this year with World’s 3rd largest economy in terms of Purchasing Power Parity, government’s intention to invest Rs. 100 lakh crore in infrastructure in next 5 years, enhaced target of over one lakh 5,000 crore of disinvestment in 2019-20, proposal to provide Rs.70,000 crore to PSBs to boost credit, […]
Union Budget stresses the need for heavy investment in infrastructure, Digital Economy and job creation in small and medium firms In Transport sector, budget proposes PPP in railways, roadmap to make India a hub of maintenance, repair and overhaul and aircraft financing / leasing activities and Development of state road network Blueprint for developing gas […]
Scheme of Fund for Upgradation and Regeneration of Traditional Industries (SFURTI) aims to set up more Common Facility Centres for generating sustained employment opportunities SFURTI envisions 100 new clusters in 2019-20 to help 50,000 artisans economically 10,000 new Farmer Producer Organizations to be formed to ensure economies of scale for farmers over the next five […]
Government to consider issuing Aadhaar Card for NRIs with Indian Passports Government to open four new Embassies in 2019-20 17 iconic Tourism Sites being developed into world class tourist destinations Indian Development Assistance Scheme (IDEAS) to be revamped The Union Finance Minister proposed to consider issuing Aadhaar Card for Non-Resident Indians with Indian Passports. She […]
Lower rate of 25 % Corporate Tax extended to companies with Annual Turnover up to Rs. 400 crore from earlier cap of upto Rs 250 crore Interchangeability of PAN and Aadhaar to file tax return proposed 2 % TDS on cash withdrawal exceeding Rs. 1 crore in a year from a bank account to encourage […]
Rs. 400 Cr allocated for creating world class educational institutions New education policy for reforms in school and higher education National research foundation (NRF) announced to step up research in thrust areas National sports education board for development of sports persons to be set up under Khelo India An amount of Rs. 400 crore has been […]
Rs 1,19,025 crore allocated for MHA in Union Budget 2019-20 A sum of Rs 1,19,025 crore has been allocated to the Ministry of Home Affairs (MHA) in the Union Budget 2019-20 presented by the Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman in the Parliament today. The budget allocation represents an increase of […]
Estimated savings/benefits of Rs. 59,599 crore upto March, 2019 under ‘PAHAL’ scheme There have been estimated savings/benefits of Rs. 59,599 crore for the Government upto March, 2019 under the ‘PAHAL’ scheme of the Ministry of Petroleum and Natural Gas. The statement of fiscal policy, as required under the Fiscal Responsibility and Budget Management Act, 2003, […]
