A view on the financial world.
During the presentation of the Fiscal Budget, the Finance Minister announced revised slab rates of taxation for individuals, which are lower than the prevailing rates. However, there is a certain catch to it. Under the new rates, the assessee has to forego certain exemptions and deductions while computing the taxable income. Hence they might actually …
The Finance Minister of our country presented the Union Budget on 1st February 2020. Certain hopes would have burdened the back considering the lacklustre GDP growth of 4.5% of in the September quarter; the slowest since March 2013 and below expectation revenue collections, which would be impacted by the tax rate cut in September 2019. …
Continue reading "Budget 2020- Key highlights and takeaways."
Monday- 18th March 2019 Mukesh Ambani helped his brother Anil from imprisonment by paying money owed by him to Ericsson. The bailout came in critical time as Tuesday was the deadline for Anil’s RCom to clear ₹580 crore due to the Swedish equipment maker. L&T has bought a 20.32% stake in Mindtree for ₹3,269 crore …
Monday- 4th March 2019 Two shareholders of UTI AMC, SBI and LIC have sought more time from the SEBI to divest their stake in the asset manager, but SEBI has declined them an extension of time. Last year, the SEBI introduced a cross-holding limit in mutual funds to eliminate potential conflicts of interest. Zomato Media, …
Monday- 25th February 2019 The income tax department has revived its demand that Cognizant provide documents related to the bribes it had paid to Tamil Nadu government officials to secure approvals for a building. Cognizant had voluntarily disclosed to the US SEC in 2016 the payment of bribes after it uncovered the 2014 payments in …
Monday- 18th February 2019 The RBI to pay ₹28,000 crore as interim dividend to the government, which will help the Center meet its revised budget estimates and polish its fiscal credentials ahead of the general elections. With this interim transfer, the government will get a total ₹68,000 crore from the central bank in the current …
Monday- 11th February 2019 The parliamentary standing committee on IT refused to meet representatives of Twitter India, insisting that CEO Jack Dorsey would have to appear before it in 15 days. The committee has insisted on meeting someone who can be held accountable for Twitter’s actions in India. The government is aiming to raise ₹5,316 …
