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In December 2023, a division bench of the Madras High Court granted an interim stay against the Income Tax department's demand from Cognizant. In lieu of the stay, the court had asked the company to deposit of Rs. 1,500 crore in addition to giving property security for the balance tax liability with interest and penalty.
Investors should not avoid MNC companies as part of their portfolio largely because they are good dividend payers and also they are defensive play when volatility increases.
The govt will miss fiscal deficit by 50 bps but markets will react more positively to fiscal slippage with expenditure intact than to “creative” fiscal consolidation.
If the government is looking at revenue optimisation then there are other ways for them to monetize revenues than tweaking of LTCG, said Sudhir Kapadia, National Tax Leader, EY.
"MAT (minimum alternate tax) and DDT (dividend distribution tax), you will definitely see something on February 28 ... There will be a decision," Kher said at a FICCI function here.
