Government exercises to provide relief in super rich tax on FPI

-

New delhi date. August 14, 2019, Wednesday

The Finance Ministry is likely to take a definitive decision on this issue after discussing with the Law Ministry on how to get relief in the super-rich tax imposed on foreign portfolio investors (FPI) in the Budget introduced last month.

According to sources associated with the move, the government is considering various options and the most effective will be to choose the best possible law. The surcharge has come into force after Finance Bill 2 received the President's approval. If relief is given through circular or direct advertisement then the bill will have to be amended or an order may be amended to amend the Finance Act.

In the past, the government has issued Beneficial Circulars to provide relief to the taxpayer, which has been approved by the Supreme Court, but the Circular under Section 1, which gives the Central Board of Direct Taxes the ability to issue benefits, will have to look at whether the tax rate or surcharge can be covered.

Tax experts said that the best and strongest option with the government is to bring an Amendment in which all SEBI registered FPIs and AIFs can be exempted from the surcharge.

Comments

Post a Comment

Popular posts from this blog

Covid-19 effect: Significant increase in demand for second hand cars in the country

-
Image
Mumbai, May 26, 2020, Tuesday As lockdowns are being phased out across the country, the use of private vehicles using public transport to reach their destinations is on the rise. The increasing use of private vehicles has also increased the demand for cars, especially secondhand cars. Demand for second-hand cars is unprecedented. Inquiries for second-hand cars have almost doubled during the lockdown period compared to the time before the lockdown, according to a survey of about 100 dealers and car buyers. Demand for used cars at dealers has been strong in the last few weeks, and is expected to grow as the lockdown eases. Consumers are increasingly interested in buying second-hand cars, especially smaller ones, due to lower income levels and health-related safety, said an organized second-hand car dealer. Inquiries for a particular vehicle, which used to be around 15 per cent before the lockdown, have now doubled to 5 per cent. Inquiries for new vehicles have fallen from 21 per cen...
Read more

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more