It is that time of the year when you will be asked to submit investment proof so that your workplace can deduct tax before the end of the fiscal on March 31, 2024. On one hand, the Income Tax department deducts tax, but at the same time, it promotes savings and investments among taxpayers. It … Read more
“Finance Minister Nirmala Sitharaman presented a surprise-free Budget for FY23-24, aimed at driving economic growth in a global scenario, where a recession looms for most of the large economies,” says Gurmeet Singh Chawla, Director, Master Capital Services Limited. In an interview with ETMarkets, Chawla said: “One of the sectors that can possibly offer high returns … Read more
Union finance minister Nirmala Sitharaman on Tuesday noted that the interaction between the government and industries should be more centred around futuristic ideas. “The industry will have to come up with ideas, talk with government…The need of the hour is to give money where there is an idea waiting to bloom and that idea is … Read more
Gold plays an important role in the Indian economy. It is considered a safe form of savings and investment among individuals, and it is an integral part of traditional ceremonies. This metal is considered the best collateral for loans and the precious metals industry is a significant source of employment in the country. The demand … Read more
The jump in capital expenditure announced in the budget will provide the economic thrust needed in the face of global headwinds, finance secretary TV Somanathan told ET in an interview. Edited excerpts. Global uncertainty is the biggest threat at this juncture. Has the budget done enough to ensure 6-7% growth?The most direct action the government … Read more
The budget has ticked most of the boxes and dealt with the pre-budget expectations adequately. For the first time, the tax to GDP ratio has moved to double digits, an achievement we should not fail to consider. A lot of tax buoyancy witnessed recently can also be attributed to digitisation and the emphasis on compliance. … Read more
NEW DELHI: India is ‘fairly’ confident it can meet its target to cut its fiscal deficit by nearly 200 basis points to 4.5% of GDP in the next three years, assuming there is no major global economic shock, a top government official told Reuters on Thursday. On Wednesday, the government in its 2023/24 budget set … Read more
New Delhi: A day after the Budget announcement of a revamped personal income tax regime, Revenue Secretary Sanjay Malhotra on Thursday said the government would eventually like to move to a simple and exemption-free tax structure with lower rates. According to an analysis by the Revenue Department, an individual earning Rs 15 lakh in a … Read more
Shares of cigarette-to-hotels major rallied over 6% to hit a 52-week high of Rs 384.4 in Thursday’s trade on BSE after the hike in duty on cigarettes in Budget will have a limited impact. The government has hiked the National Calamity Contingent Duty (NCCD) on cigarettes by 16%. NCCD accounts for about 10% of overall … Read more
The budget is expected to provide a boost across the agriculture value chain, with announcements ranging from increased credit for the sector, investment in fisheries and focus on high-value horticulture crops to setting up of a dedicated fund for agri startups and building of digital public infrastructure. The finance minister has proposed to increase the … Read more