In a big push to digital economy, Finance Minister Arun Jaitley in his Budget announced a plan to boost digital transactions by removing service tax on railway tickets booked via IRCTC portal, establishing a travel portal for Indian defence forces and launching Aadhaar Pay, a merchant app for Aad…
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Labour Ministry seeks early passage of Amendment Bill to Wages Act
Union Labour Minister Bandaru Dattatreya said his Ministry will seek the passage of Amendment Bill to Payment of Wages Act in the Parliament for allowing business and industrial establishments to pay salaries to their workers through cheques or electronic modes. The Government had in December Las…
Budget 2017: Fails to assuage key concerns of start-up community
New Delhi: With falling investments and failing startups, the startup world was hoping for the government to take away the main pain points of its industry. While a few concerns were addressed by the Finance Minister Arun Jaitley during his Union Budget speech in the Parliament, the larger issues…
Budget 2017: Steps in Budget will infuse more cash flow for MSMEs
The government steered clear of a bold reform step of cutting the corporate tax rate and removing a range of exemptions. Instead, it proposed to reduce the income-tax rate for micro, small and medium enterprises to 25% from 30% previously. It also allowed credit for minimum alternate tax to be ca…
Budget 2017: Tax window extension for start-ups just an eyewash, say experts
Finance Minister Arun Jaitley on February 1 announced that small and medium enterprises in the country with a turnover of less than Rs 50 crore will now be taxed at a flat rate of 25 percent. The move is likely to positively impact 96 percent of businesses in India. Earlier, the SMEs were being t…
Budget 2017: Start-ups get more time to choose their 3-year tax holiday
No gain, without pain is the verdict from startups and investors on tax measures unveiled in the Budget. Income tax rebates for startups have been extended for three out of the first seven years since incorporation. The industry is cheering the move to allow startups -certified under the IT Act o…
Budget 2017: SMEs to gain from tax cut amid pain due to demonetisation: EEPC
Mumbai: Cut in corporate tax for the companies with turnover of Rs 50 crore or below would befit small and medium enterprises engaged in the export sector, said Engineering Export Promotion Council of India’s Chairman TS Bhasin. In the Union Budget for 2017-18, Finance Minister Arun Jaitley has p…
Kerala B2B Meet ‘Vyapar 2017’ to showcase vibrant SMEs of state
Kochi: The sixth edition of Kerala business-to-business meet, Vyapar 2017, will be held at Bolgatty Palace here from 2nd February, providing a robust and interactive platform to the state to showcase its vibrant Small and Micro Enterprise (SME) sector and chalk out a roadmap for its future growth…
Budget 2017: Arun Jaitley announces sops for demonetisation-hit MSME
Reeling under the pressure of demonetisation, which has weeded out 86% of the country’s bank notes, Arun Jaitley, while presenting his Budget on February 1 focused on startups, and the small and medium enterprises. It meant several tax SOPs for the sector. Jaitely said that corporate tax has been…
Budget with long term objective to steer Indian economy: S C Ralhan, President, FIEO
Hailing the Union Budget limiting revenue deficit to 2.1% of GDP and pegging fiscal deficit for 2017-18 at 3.2%, while focusing on rural India and infrastructure, S C Ralhan, President, FIEO said that the budget has drawn a road map for bringing economy back on track and accelerating it in medium…