In just 6 sessions since the Union Budget was proposed, FIIs offloaded Rs 2,937.53 crore worth of shares. Institutional investors play a dominant role in day-to-day market movement in India.
July 31 is the last day for filing income tax return. You can file ITR online through income tax's e-filing ITR website. This year, the government has introduced many changes in ITR form. It is important to know the changes before filing ITR to avoid any unwanted penalty later on.
However, some 40 per cent of the FPIs automatically come under the higher tax rate as they have been investing as a non-corporate entity such as trust or association of persons (AOPs), which in the Income Tax law are classified as an individual for the purpose of taxation.
This year’s budget is a mixed bag of cheers for the respective sectors. For the development of infrastructure over the course of five years, the Government has proposed an investment of Rs. 100 Crores. Public infrastructure and affordable housing are the major key areas taken up in this budget. The Reserve Bank of India’s proposition to be regulatory for the Housing NBFCs is also welcomed by the industry at large as it is expected to improve regulations and remove anomalies.
The Income Tax Department has issued Rs 64,700 crore worth refunds in the current fiscal, and for full 2018-19 fiscal the amount released was over Rs 1.61 lakh crore.
In a letter to Principal Chief Commissioner, Chief Commissioner and Principal Commissioner, the revenue department has advised them to guide trade and businesses and educate them on change in custom duties on various items. It has also asked them to give their views and feedback on various proposals.
Alstom's India and South Asia Managing Director Alain Spohr said: "The Finance Minister has taken a holistic approach to prime up India's growth engine. This budget lays down a clear path India needs to take to become a $5 trillion economy."
The first Budget of Modi 2.0 government has laid huge emphasis on investment and consumption to realise the dream of 'New India' making it a $ 5 trillion economy in the next few years, but mobilising funds remains a challenge for it in the wake of global headwinds and domestic slowdown.
Watch FM Nirmala Sitharaman and Railway Minister Piyush Goyal speaks to Rajat Sharma on Union Budget
Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. On home loans, Sitharaman said the income tax exemption limit has been raised by Rs 1.5 lakh. This is applicable for loans upto Rs 45 lakhs.
The central govt employees were expecting an announcement regarding their long-pending demand of hike in minimum pay and fitment factor beyond 7th Pay Commission recommendations in this budget. However, according to reports, there is no increase in the minimum wages of central govt employees in the Budget 2019.
Railways has got a budgetary allocation of Rs 65,837 crore and the highest ever outlay for capital expenditure amounting to Rs 1.60 lakh crore from Union Finance Minister Nirmala Sitharaman in her Budget. Last year, the outlay for the railways was Rs 1.48 lakh crore while the Budget allocation was Rs 55,088 crore.
Kurukshetra | Modi Govt calls the budget as 'Budget of New India' aiming for 5 trillion dollor economy
Commenting on the Budget 2019, Congress leader Siddaramaiah on Friday said, people are unhappy. “People had expectations from Budget 2019, but they're unhappy. It's against development. They promised growth in the farming sector, which remained false. Farmers are not getting MSP, they are in drastic condition. There is no pro-farmers thing in budget,” said the 22nd chief minister of Karnataka.
Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. On home loans, Sitharaman said the income tax exemption limit has been raised by Rs 1.5 lakh. This is applicable for loans upto Rs 45 lakhs.
Budget 2019-20 happened to be the first of the Modi 2.0 government. And as per the size of the National Democratic Alliance's (NDA) victory over its opponents, Sitharaman's maiden Budget speech was a giant-sized bag of chocolates -- a mix of all flavours (read: some might not be your favourite).
Finance Minister Nirmala Sitharaman on Friday in her maiden budget speech has an announcement that might not be music for the middle-class consumers who buy gold for various reasons. The government has increased customs duty on gold and other precious metals to 12.5 per cent from the existing 10 per cent, said Finance Minister in the Lok Sabha.
Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. On home loans, Sitharaman said the income tax exemption limit has been raised by Rs 1.5 lakh. This is applicable for loans upto Rs 45 lakhs.
The Union Home Minister Amit Shah further said that the Budget for "new India" has set the stage for fulfilling collective dreams of water for every citizen, ensuring electricity connectivity across India and boosting manufacturing especially in sunrise sectors. "The Budget will enable India to become a more vibrant start-up hub."
Nitish Kumar also praised Sitharaman's target to take India's economy to $5 trillion. "This budget is good for the people, particularly the poor and farmers," he said.
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