The rupee traded in a range of 71.93 to 72.05 to te US dollar in the early session. A strong dollar in the overseas markets and continued foreign fund outflows weighed on the domestic currency, according to forex traders.
The emerging consensus within India Inc. on the need for a government-led stimulus notwithstanding, the Centre has limited fiscal space given the lower tax collections. The Budget was a missed opportunity in terms of signalling reforms
63 moons had approached the HC against the state government’s notification to attach its assets under the Act, saying that NSEL was a commodities exchange for trading between buyers and sellers and not a deposit-taking entity.
As specified in Section 80-IAC of the Income Tax Act, 1961, these startups will receive deduction for “100 per cent of income” for three out of seven years from the year of its incorporation, the Board said in a statement.
According to the minutes of monetary policy committee released on Wednesday, RBI Governor Shaktikanta Das had said economic activity has shown signs of further weakening since the last MPC meeting in June 2019.
"Since the intention was to support the small startup, the turnover limit of Rs 25 crore was considered reasonable for granting profit linking deduction," the Central Board of Direct Taxes (CBDT) said in a statement.