In its pre-Budget memorandum submitted to the Finance Ministry, ASSOCHAM has proposed the rationalisation of TDS rates by suggesting a uniform rate of either 1% or 2% for all payments made to resident assessees. This proposal aims to reduce disputes caused by differing interpretations and enhance tax compliance. The memorandum also called for the decriminalisation … Read more
The Union government has revised its guidelines regarding capital restructuring of Central Public Sector Enterprises (CPSEs) to address the critical interlinked issues such as leveraging of assets lor fresh investment, capital restructuring, financial restructuring and such other matters. The guidelines stipulate eligibility conditions for CPSEs for payment of dividend, buyback of shares, issue of bonus … Read more
Union Finance Minister Nirmala Sitharaman has stressed that nothing stops the private sector from coming and doing business in India, noting that there are many non-Indian private insurance companies that are already operating in India. In her remarks during a fireside conversation with CSIS President and CEO John J Hamre on ‘India’s Economic Aspirations’ on … Read more
The Union Finance Ministry has issued a directive to banks that central government pensioners should receive their pensions by the last working day of each month, with specific provisions for March payments. The ministry clarified that the notification has been issued to ensure timely disbursement of pensions and family pensions. The Ministry issued an … Read more
GST meeting: At the GST meeting, central and state tax officials are expected to present a detailed “status report” regarding taxation related to online gaming and similar activities. This report will specifically outline the collection of GST revenue from the online gaming industry both pre and post October 1, 2023. As of October 1, … Read more
The 54th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman and featuring state finance ministers and tax officials, is set to take place today (September 9). The session will address several critical topics, including the taxation of insurance premiums, proposed rate rationalisations, and a review of online gaming revenues. Taxation on health and … Read more
New Delhi: Finance minister Nirmala Sitharaman called on various ministries and departments to expedite capital spending and set quarterly targets. On Tuesday, Sitharaman chaired the first of a series of meetings lined up to review the productive spending, and the resultant asset creation, across infrastructure and other ministries. She held meetings with the ministries of … Read more
New Delhi: India on Wednesday allowed companies listing on an exchange in its GIFT city international financial services centre to have a lower public float of 10%. Companies listed on local exchanges are mandated to maintain a minimum public shareholding of 25%. The government issued a notification stipulating a lower public shareholding requirement for companies … Read more
New Delhi: The government has directed the National Highways Authority of India (NHAI) to focus on upgrading the existing national highways, amid increasing concerns over their maintenance and upkeep. It marks a shift from the current practice of the NHAI focusing solely on the development of new highways and expressways under the Bharatmala Pariyojana and … Read more
The Ministry of Finance is currently evaluating several options regarding the newly announced revised Long Term Capital Gains (LTCG) regime, which aims to eliminate indexation benefits for property, gold, and other unlisted assets. The tweaks to the Finance Bill may be undertaken in the run-up to the passage of the Finance Bill 2024-25 in Parliament. … Read more