SIMPLIFICATION OF SHARE TRANSFER
MCA likely to simplify process for transfer of unclaimed shares
The corporate affairs ministry plans to simplify documentation for transferring unclaimed shares and dividends to investors through the IEPFA. A panel's report suggests reforms for claims up to ₹5 lakh for physical securities, ₹15 lakh for dematerialized securities, and ₹10,000 for dividends. This initiative aims to reduce timelines, improve transparency, and provide hassle-free services to investors.
GST Diwali Dhamaka has a catch, but govt is watching
The government is closely monitoring businesses to ensure that the recent GST rate cuts reach consumers, especially during the festive season. Ministries are collecting price data and urging companies to voluntarily pass on the benefits. While some industries have pledged to reduce prices, concerns remain about full transmission due to factors like existing inventory and lack of consumer awareness.
Eight opposition-ruled states extend support to cut in number of GST rate slabs: Congress
Eight opposition-ruled states, including Karnataka and West Bengal, back a reduction in GST rates. They want lower rates for essential goods. These states are requesting compensation for five years, starting in 2024-25. They also propose that revenue from levies on luxury items be fully transferred to the states.
Time for a raft of reforms to make fintech sector leaner, more inclusive and resilient to risks
India is set to reform its fintech sector. The focus is on innovation and competition. Reserve Bank of India may simplify regulations. It may allow Non-Banking Financial Companies to issue Unified Payments Interface credit lines. Revamping New Umbrella Entity framework is also on the cards. No-action letters may encourage innovation. Digital bank licensing is also a possibility.
Now Paytm UPI users can trade in the stock market without paying money to the stock broker in advance; Here’s how
Paytm UPI: Paytm has enabled support for UPI trading blocks i.e. Single Block Multiple Debits. This means now you can trade in the stock market (BSE SENSEX, NSE NIFTY, and others) without first adding money to your demat account. Using Paytm UPI you can create a block request like ASBA and money will only be debited when you execute any securities buy trade.
Will new income tax bill increase tax burden? What taxpayers can expect from it?
New income tax bill 2025: Many taxpayers are awaiting the draft of the new income tax bill 2025. The government has said the new income tax bill is being brought to simplify the changes and reduce the litigation. However, should the taxpayers be worried about changes in the income tax slabs and tax rates?
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Tax reforms, simpler customs procedure top Budget wishlist
Indian industry bodies met with revenue secretary Sanjay Malhotra. They presented their tax proposals for the upcoming budget. The Federation of Indian Chambers of Commerce and Industry (FICCI) proposed comprehensive tax reforms. The Confederation of Indian Industries (CII) suggested simplifying the goods and services tax (GST) regime.
New capital gains taxation regime: Income tax department releases 13 important FAQs on latest STCG, LTCG rules
New capital gains taxation rules:The finance minister Nirmala Sitharaman has suggested revisions to the capital gains tax system in the 2024 Budget. Below are key inquiries provided by the tax department concerning the recent capital gains tax adjustments introduced in the 2024 Budget.
Capital Gains Tax FAQs: What are the major changes brought about in LTCG & STT in Budget? All queries answered
Capital Gains Tax Budget 2024: India's Budget proposed significant changes in the taxation of capital gains, aiming for rationalisation and simplification. Key changes include a simplified holding period with only two categories, uniform rates for most assets, removal of indexation, parity between residents and non-residents, and maintaining roll over benefits. The new provisions are effective from 23.7.2024. Here's all your questions answered by the government.
Budget 2024 shakes up tax rules, hitting stocks, properties, and gold
The government has introduced significant tax changes impacting stock market transactions, property sales, and gold imports. Revised tax rates have been proposed, with a focus on simplification. Industry associations have welcomed the reforms to resolve tax disputes and address loopholes in corporate gifting regulations.
What makes capital gains tax so complicated and how to simplify it
The current income tax rules on capital gains are intricate, with varying holding periods and tax rates for different asset classes. There is a proposal to standardize taxation by applying a single 10% tax rate on long-term capital gains for all financial assets.
'Don't treat earning below Rs 5 lakh from shares as biz income'
The move to make annual income of less than Rs 5 lakh made on equity trading as short-term capital gains would help reduce litigations.
Economic Survey 2023 calls for simpler tax rules to bring startups back to India
To enable reverse flipping, the Economic Survey called for simplifying tax structure to reduce multiple layers of tax and tax litigations, besides simplifying procedures for capital flows with lesser restrictions on inflow and outflow of capital.
Union Budget 2023: The road ahead for India's complex capital gains tax
Union Budget 2023: Guided by various policy considerations over the years, capital gains taxation in India has become a complex maze. At present, there is a lack of consistency in tax rates or holding periods of different types of instruments falling within the same asset class. For instance, the sale of listed equity shares or units of equity-oriented fund attracts a 10% long-term capital gains (LTCG) tax and the holding period for the long term in this case is 12 months.
Tata Steel merger: Is it good for parent company and bad for subsidiaries?
While analysts say the simplification and unification of the group's metals and mining businesses into a large-sized single entity will drive efficiency and cost reduction, investors of only Tata Steel appear to be happy about the proposed merger.
US-China trade deal, GST Council meet, RBI minutes to guide Dalal Street this week
US agreed to a phase 1 of trade deal with China on Friday, averting Dec 15 round of tariffs.
RBI looks to improve Ease of Doing Business for SMEs & Startups
RBI said the credit counselors will assist MSMEs in preparing project reports in a professional manner which would, in turn, help banks make more informed credit decisions.
Budget 2016: ‘Non-adversarial’ tax regime to trigger confidence in M&A market
The investment activity seems to have picked up in recent times, thanks to the initiatives such as Make in India, Startup India, Digital India, etc.
Budget 2016: Proposals related to tax simplification, certainty and minimizing litigation, says Naveen Aggarwal, KPMG
The statement also added that the Finance Minister has accepted several recommendations of Justice Easwar Committee, including extension of presumptive taxation scheme to professionals.
Relaxations to start-ups to create more Indian unicorns: Raghuram Rajan
The Reserve Bank of India (RBI) will ease regulations to allow startups to raise foreign venture capital through innovative instruments .
RBI to create enabling framework for growth of startups
A liberalised patent regime is being brought to help start-up businesses register patents, for which the fee will be slashed by 80 per cent.
Lower TDS rate; amend capital gains tax laws: Easwar panel
In a 78-page draft report, the Justice (retd) RV Easwar Committee has suggested simplifying classification between capital gains and business income.
Some steps taken by Modi government in 2015 would reduce tax-related litigations
Even as the Narendra Modi government keeps busy with Goods and Services Tax (GST), the ease of doing business in India may have increased.
Good news for multi-brand retail, pharma: Composite Cap approved for foreign investments
DIPP will issue a separate circular to clarify that even the sub-limits for FII investment in many sectors such as banking and defence will go, a top government official said.
Budget 2015: Tax reforms, investments to drive 'Make in India' & 'Digital India'
With the government promising promoting innovation, Indian mid size IT companies are seeking tax incentives for their R&D centres.
Vedanta hopes to complete Sesa Goa, Sterlite merger in a month
Hearings at the division bench has already been completed and the company is expecting announcement of the court order in next two weeks.
Vedanta's merger of Sesa Goa, Sterlite to create USD 20 bn entity
Vedanta Resources today decided to merge Sterlite Industries with Sesa Goa to create USD 20 billion controlling entity for simplying its group structure.
Companies Bill to cushion ride for M&As; implementation holds the key
The new Companies Bill supports M&As, but implementation holds the key to its success.
Kandla port to develop four new berths for Rs 755 crore
Four companies have been identified for the Rs 755-crore project to develop new berths at Gujarat’s Kandla port.
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