In just 6 sessions since the Union Budget was proposed, FIIs offloaded Rs 2,937.53 crore worth of shares. Institutional investors play a dominant role in day-to-day market movement in India.
Giving point-by-point rebuttal to senior Congress leader P. Chidambaram, Union Finance Minister Nirmala Sitharaman on Friday said in the Rajya Sabha that all revenue targets in the budget are realistic and India will become a $5 trillion economy in the next five years.
Modi govt bats for electric vehicles, Budget 2019 shows govt wants you to buy electric cars
July 31 is the last day for filing income tax return. You can file ITR online through income tax's e-filing ITR website. This year, the government has introduced many changes in ITR form. It is important to know the changes before filing ITR to avoid any unwanted penalty later on.
However, some 40 per cent of the FPIs automatically come under the higher tax rate as they have been investing as a non-corporate entity such as trust or association of persons (AOPs), which in the Income Tax law are classified as an individual for the purpose of taxation.
There is a hike of nearly 15 per cent in the 2019-20 Budget for the Ministry of Development of North Eastern Region (DoNER), from Rs 2,629 crore in 2018-19 to Rs 3,000 crore in the current fiscal, Union minister Jitendra Singh said on Monday.
This year’s budget is a mixed bag of cheers for the respective sectors. For the development of infrastructure over the course of five years, the Government has proposed an investment of Rs. 100 Crores. Public infrastructure and affordable housing are the major key areas taken up in this budget. The Reserve Bank of India’s proposition to be regulatory for the Housing NBFCs is also welcomed by the industry at large as it is expected to improve regulations and remove anomalies.
The Income Tax Department has issued Rs 64,700 crore worth refunds in the current fiscal, and for full 2018-19 fiscal the amount released was over Rs 1.61 lakh crore.
According to the Union Budget for 2019-20, filing of returns has been made compulsory for those who deposit more than Rs 1 crore in a current account in a year, spend more than Rs 2 lakh on foreign travel or have an annual electricity bill of more than Rs 1 lakh. The official data reveals 6.86 crore income tax returns (ITRs) were filed in 2017-18 registering a growth of 23 per cent over the previous year.
This came a day after in her Budget speech on Friday she said that the government will modify the present policy of retaining 51 per cent stake in PSUs.
In a letter to Principal Chief Commissioner, Chief Commissioner and Principal Commissioner, the revenue department has advised them to guide trade and businesses and educate them on change in custom duties on various items. It has also asked them to give their views and feedback on various proposals.
The Indian Medical Association Saturday termed the budgetary allocation in the health sector "inadequate" as the body lamented that public spending on health remained at 1.2 per cent of GDP.
Central Board of Direct Taxes (CBDT) Chairman P C Mody told news agency PTI in an interview that all "legacy issues" related to start-ups will be resolved through a consultative process and under strict supervision of senior officers of the tax authority.
Cess on petrol and diesel was raised by Re 1 per litre, while customs duty on gold was also increased to 12.5 per cent from existing 10 per cent on Friday, while Finance Minister Nirmala Sitharaman presented her maiden budget in the Lok Sabha. Read on to know the revised rates of petrol and diesel in your city.
Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha, which did not go down well with the Opposition. The Aam Aadmi Party termed the budget as 'step-motherly' and 'full of tokenism'. Earlier on Friday, the budget was even criticised by BSP chief Mayawati, who accused the Centre of favouring the business class through their budget and making it more difficult for the common man of the country.
All eyes were on Nirmala Sitharaman as she had a massive job at hand. She had to fill in the shoes of former Finance Minister Arun Jaitley as well as lay foundation that would help India achieve its goal of becoming a $ 5 trillion economy. Presenting Modi 2.0 government's first budget, Sitharaman laid huge emphasis on investment and consumption to realise the dream of 'New India'. Here is sector wise analysis of who got what in Modi Sarkar 2.0's first union budget.
Alstom's India and South Asia Managing Director Alain Spohr said: "The Finance Minister has taken a holistic approach to prime up India's growth engine. This budget lays down a clear path India needs to take to become a $5 trillion economy."
The first Budget of Modi 2.0 government has laid huge emphasis on investment and consumption to realise the dream of 'New India' making it a $ 5 trillion economy in the next few years, but mobilising funds remains a challenge for it in the wake of global headwinds and domestic slowdown.
Watch FM Nirmala Sitharaman and Railway Minister Piyush Goyal speaks to Rajat Sharma on Union Budget
Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. On home loans, Sitharaman said the income tax exemption limit has been raised by Rs 1.5 lakh. This is applicable for loans upto Rs 45 lakhs.
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