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.
Esta historia es de la edición July 25, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición July 25, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
SOM Distilleries debuts in K'taka with Woodpecker beer
Bhopal-based SOM Distilleries and Breweries has entered the Karnataka market with \"Woodpecker\" premium beer, India's first twist cap beer.
Ambiguity over GST food rates in spotlight
The managing director (MD) of a famous restaurant chain in Tamil Nadu supposedly apologising to Union Finance Minister Nirmala Sitharaman in Coimbatore on Wednesday has triggered a political controversy.
Four states get six Vande Bharat trains
Prime Minister Narendra Modi on Sunday virtually flagged off six Vande Bharat trains for Jharkhand, Odisha, Bihar, and UP at Ranchi.
D2C brands hitch their wagon to quick-commerce
As quick commerce gains ground, emerging direct-to-consumer (D2C) brands are betting big on digital channels to drive growth.
UPS: SENSE & SENSIBILITY
As the govt embarks on a new pension scheme, what will be its fiscal implications?
Firms need time to comply with data protection law'
Companies will need time to comply with the Digital Personal Data Protection Act (DPDP) whose rules are to be released, according to VINAYAK GODSE, chief executive officer of Data Security Council of India (DSCI). It's a non-profit non-profit organisation set up by NASSCOM and works in cybersecurity and privacy. \"Companies will need to overhaul processes and adjust operations\", he said in an interview with Ashutosh Mishra in New Delhi. Edited excerpts:
There is a case for Al helping the law
The technology can assist in clearing the massive backlog in courts and in research, report ASHUTOSH MISHRA & BHAVINI MISHRA
Delaying buy decision may push costs higher amid rising prices
Pay 20-30% of cost as down payment; EMI should not exceed 40% of take-home salary
Bank not liable for lack of pledged goods cover
Shree Shakti Foam had applied to Canara Bank for a cash credit facility against the hypothecation of stocks.
India our APAC priority and primary market focus'
With markets looking forward to a rate cut by the US Federal Reserve (Fed) this week, BHASKAR LAXMINARAYAN, chief investment officer and head investment management Asia at Julius Baer, shares with Puneet Wadhwa that a 25-basis- point (bp) cut paired with a strong dovish message could be just as effective as a 50-bp cut with minimal commentary. The impact, he observes, will largely depend on the accompanying message and how it is interpreted. Edited excerpts: