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USISPF for simpler TDS, Customs tariff structure
Business Standard|January 16, 2025
Ahead of the Union Budget for 2025-26, the US-India Tax Forum, a key body under the US-India Strategic Partnership Forum (USISPF), has recommended streamlining the tax deduction at source (TDS) structure to two or three rates, aligning tax rates for foreign bank branches with domestic banks, and introducing a 10 per cent concessional tax rate on dividends for foreign portfolio investors (FPIs).
- MONIKA YADAV
USISPF for simpler TDS, Customs tariff structure

To establish GIFT City as a global financial hub, the Forum has proposed tax exemptions on dividends and financial transactions. For manufacturing and renewable energy, it has recommended extending concessional tax rates for greenfield manufacturing beyond March 2024 and offering a 15 per cent tax rate for Maintenance, Repair, and Overhaul (MRO) firms. In healthcare, it has suggested reducing tariffs on life-saving drugs and continuing exemptions for medicines under Patient Assistance Programs.

This story is from the January 16, 2025 edition of Business Standard.

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USISPF for simpler TDS, Customs tariff structure
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This story is from the January 16, 2025 edition of Business Standard.

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