What I want from Budget 2020: Reduction in import duty on gold; single-window process to simplify approvals for new businesses
Melorra boss Saroja Yeramilli wants the FM to extend exemption from Capital Gain to the gems and jewellery sector.
Amfi proposes a 17-point budget wish list
Association of Mutual Funds in India (Amfi) has proposed several points for the Budget 2020 to help...
Solar power association writes to Gadkari against NTPC's tender conditions
It said NTPC is not exempting MSMEs from payment of earnest money ...
Retirement planning: How to maximise returns from EPF, NPS investments
In the dynamic retirement landscape, EPF and NPS are critical pillars of your retirement planning.
Amfi pitches for debt-linked saving schemes in Budget
The industry body has also demanded that the government recognise mutual funds (MFs) as specified long-term assets, qualifying for Long-Term Capital Gains (LTCG), as well as bring ULIPs of life insurance companies and equity MF schemes on par.
Enforcement Directorate names JSW Steel in BPSL case
The Enforcement Directorate on Friday filed a charge sheet against former Bhushan Power and Steel Ltd CMD Sanjay Singal and others in a multi-crore money laundering case linked to an alleged bank loan fraud.
Transport ministry to help states set up vehicle tracking system
This comes after states made little progress in setting up these centres, which was to be done following a Supreme Court ruling that mandated all public transport vehicles to have vehicle tracking systems and emergency buttons. The features were mandated from January 1, 2019.
Budget 2020 proposal for salaried professionals: PPF, NSC sops on cards to increase taxpayers' savings
Finance Ministry may allow tax exemptions of up to Rs 2.5L for savings and up to Rs 50,000 for NSC.
Panel of officers on GST for raising rate, curtailing exemption list to increase revenue
The committee of officers from the Centre and states, formed to review the goods and services tax (GST), has also recommended selective taxation on education and health, sources said. The committee, which made presentation before the GST Council on December 18, also suggested pruning of exempt list for raising resources.
What I want from Budget 2020: A robust, primary healthcare system; at-home care integrated with Ayushman Bharat
India currently ranks 184th out of 191 countries in terms of GDP spending on health.
FSII recommends making India global seed production hub & pushes for 200% deduction of R&D expenditure in the seed industry
The income tax deduction for the in-house R&D has been reducing over the last few years, it said. Through an amendment as per Finance Act 2016, the weighted deduction was reduced to 150% effective from April 1, 2017 through March 31, 2020 and it indicated a further reduction to 100% from April 1, 2020.
States seek pruning of GST exemptions
A panel of state and central government officials, set up to suggest measures for revenue augmentation, has also backed rejig in the GST rate structure to shore up revenues besides a tighter administrative hand to improve compliance.
Mandatory FASTag rule relaxed for 65 toll plazas on National Highways citing high cash transactions
This comes after NHAI raised ‘concerns’ regarding high cash transactions at 65 identified toll plazas in the country. Around 535 toll plazas under NHAI have been equipped with ETC infrastructure, and barring 65 of these, the remaining toll plazas have to mandatorily convert all lanes barring one in each direction into FASTag lanes January 15 onwards.
Bengal FM cautions govt against reviewing exemptions under GST
West Bengal finance minister Amit Mitra, in his letter to Union finance minister Nirmala Sitharaman mentioned the exemptions to commodities from GST that were discussed in a meeting. He said the basic principle behind exempting these items was that these were consumed predominantly by the poor and the underprivileged.
A taxpayer-friendly interface for India Inc: Is it tough proposition?
Bring in technology to cut interfacing between tax assessment officer (AO) and taxpayer.
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