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"We have put the tax at the hands of the shareholder as a capital gains tax, which long term will be only 12.5 percent. That is a correction and relief given to shareholders."
CII calls for a trust-based, technology-enabled tax system; proposes simplified TDS regime, statutory taxpayers’ charter, and paper-free customs roadmap in pre-Budget 2026-27 proposals
The industry body’s delegation met Revenue Secretary Arvind Shrivastava on October 29 to present the industry body’s pre-budget proposals and discuss tax and tariff-related issues impacting businesses.
Industry body urges filling vacancies, simplifying TDS structure, and granting tax neutrality for fast-track demergers to reduce litigation and improve ease of doing business
As per an official notification, Malhotra will serve as the RBI Governor for a period of three years starting December 11, 2024.
Currently, customs duties in India can be paid through net banking, over-the-counter payments, etc.
Union Budget 2025-26 is an opportunity to reinforce India’s stability and create a blueprint for a prosperous, equitable, and technologically advanced country, the industry bodies told revenue secretary.
"This LTCG increase will impact only the people with higher income as per our study,” Sanjay Malhotra told Moneycontrol in an interview.
Budget 2024 has given relief of Rs 17,500 this year in direct tax. In last year's Union Budget, the government had reduced the number of tax slabs, and adjusted the rebate limit in the new tax regime to Rs 7 lakh.
The GST Council has revised the rate on online gaming from 18 percent to 28 percent on full face value effective October 1, 2023. The revenue from the sector has seen almost six-fold increase since then, the Revenue Secretary said.
The proposal will be discussed at the next GST Council meeting likely this month.
The imports of the yellow metal are expected to touch 800 tonnes in 2023-24.
Budget 2024: Among Malhotra's key challenges for the Budget would be to ensure the growth in tax revenue is maintained in the next fiscal year
The Union Budget this year targets a 10.4 percent growth in gross tax revenue in FY24 from Rs 30.4 lakh crore garnered in 2022-23.
India as the co-chair of the Asia Initiative of the Global Forum on transparency and exchange of information for tax purposes is hosting its 4th high-level meet on April 27-28 in New Delhi.
