The IT department said companies that had a turnover of less than Rs 50 crore in 2015-16 will pay tax at the reduced rate of 25 per cent from April 1 even if they cross the threshold in 2016-17 or subsequent years. Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said the income tax […
Tag: Arun Jaitley
Budget raises India’s capital market ambitions
The Indian government has unveiled its most ambitious target for public share sales so far, looking to capitalise on the robust domestic capital markets to cut its annual deficit. In last week’s federal budget, Finance Minister Arun Jaitley set a 725 billion rupees ($10.76 billion) target f…
Start-ups, FDI to be exempt from new tax on unlisted firms
Allaying investor fears over levy of long-term capital gains tax on share transfer in unlisted companies, the government on February 3 said the move is only to target ‘khoka’ companies and ‘genuine investments’ in startups and through FDI will be exempt. Revenue Secretary …
Jaitley provides tax breaks to start-ups and SMEs, but their concerns remain
The Union Budget 2017 seeks to strengthen the push to a digital and cashless economy. It is good on intentions and takes baby steps towards a digital India, the move which was kick-started with the demonetisation drive. The Budget, which revolved around farmers, youth and affordable housing, also…
Budget 2017: A hit or a miss for entrepreneurship in India? Start-ups respond
The biggest day on India’s policy calendar had a slew of announcements directed at the middle class and the rural sector, but few that shone a spotlight on the burgeoning startup ecosystem in India. India’s payment industry, however, has much to cheer about with the proposed regulator…
Arun Jaitley’s Union Budget didn’t address key concerns of start-ups & SMEs
Budget 2017 has provided tax exemptions to small and medium scale enterprises (SMEs) and start-ups. SMEs got a drop of five per cent on the tax rate, which according to Finance Minister Arun Jaitley, would benefit 96 per cent of businesses. However, what it doesn’t do is to come up with an energi…
Budget 2017: ‘Big Relief’ to MSME sector, says Kalraj Mishra
New Delhi: Asserting that the Budget provides a ‘big relief’ to the MSME sector, Union Minister Kalraj Mishra today said announcements like the lowering of income tax for smaller firms and doubling the lending target under MUDRA Yojana will benefit small entrepreneurs in the country. …
A good year for SMEs Cut in income tax in budget 2017 most welcome
A cut in income tax by 5% that would benefit 96% of Indian companies and presumptive tax reduction of two percentage point to 6% means the beleaguered SME sector that was hit hard by demonitisation has something to cheer. Announcing the Union Budget for 2017, Finance Minister Arun Jaitley said MS…
Budget 2017: What this Budget meant for start-ups & MSMEs
Budget 2017 left much to be desired for the startups. The budget which focussed more on propelling the digital economy of the country gave some concessions to the startups while holding out on some of the major demands of the startup community. Here are the top announcements concerning startups a…
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…