Has the projection for corporation taxes been reduced?
There has been a modest reduction. Still, we are projecting a growth rate of about 10 per cent. This aligns with the growth rate achieved to date. The projection incorporates the decline in corporate profits of the top 170 companies for the first quarter (April-June) of FY25, excluding banks and the financial sector.
Including these sectors, there is an approximate increase of 4 per cent. For the 200 companies that reported profits, our growth rates are also reflective of this.
Central goods and services tax (GST) saw a reduction while excise duty saw an upward revision.
These adjustments are aligned with the growth rates observed over the past year.
What was the rationale behind revamping the capital gains regime?
The government, over the past few years, has been trying to simplify various tax provisions, starting with GST, which simplified the indirect taxation regime. Seen in light of that transformative change, this is another change we have introduced.
Revamping the regime has been a request from many stakeholders for some time, given the different rates and holding periods across asset classes. For instance, without indexation, the rate is 20 per cent, and with indexation, it is 10 per cent, and so on.
We have now drastically simplified it, primarily to two rates in long-term capital gains: 20 per cent and the applicable rates. Similarly, in short-term capital gains.
この記事は Business Standard の July 25, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Standard の July 25, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Higher volume, profitability gains for GAIL India
GAIL India's second quarter (Q2FY25) performance met expectations.
MULTI-ASSET ALLOCATION FUNDS: Ensure fund's equity exposure and strategy match your risk appetite
A recent analysis by Ventura Securities of 25 multi-asset allocation funds (MAAFs) reveals that many of these funds have outperformed a large number of equity schemes over 1-5-year timeframes.
Markets fall over 1% after two-day rally
IN THE RED Sensex intraday
Industry bodies urge FinMin to ease TDS rate structure
Proposal seeks to lessen compliance burden on taxpayers and avoid litigation
After SC rap, Centre doubles penalty for stubble burning
Burning issue
Proactively made all disclosures, recusals: Sebi WTM on Cong's charges
Ananth Narayan, whole-time member (WTM), the Securities and Exchange Board of India (Sebi), has responded to allegations of conflict of interest due to personal investments.
Market regulator may water down skin-in-game rules for MF executives
The Securities and Exchange Board of India (Sebi) has shown intent to relax the skin-in-the-game norms applicable to senior executives of the mutual fund (MF) industry.
MSCI adds 5 Indian stocks to key index
MSCI added five Indian companies to its Global Standard Index late on Wednesday, a move that brokerage Nuvama said would lift the country's weighting on the index to 20 per cent, further narrowing the gap with China.
Trump's triumph: Will bulls run amok and gold, silver sparkle?
Top brokerages highlight opportunities, risks, and contradictions the new administration may offer
REIMAGINING ROLE OF AGRICULTURE
In the changed context of economic development, agriculture is seen playing a much larger role than perceived in the dominant thinking in development economics