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Make sure tax reduction brings in investment: Prasad to his ministries
With an aim to revive investments, particularly in the manufacturing sector, Minister of Finance Nirmala Sitharaman Friday announced reduction of effective corporate tax rate to 25.17 per cent.
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Bond market frets amid concerns over higher borrowing, yields soar
On Thursday, RBI Governor Shaktikanta Das hinted that there could be more reduction in the policy rate in the near future, in the wake of lower inflation and the deepening slowdown in the economy.
Will augur extremely well for economy: Das on corporate tax cut
Das was hopeful that the second-quarter GDP numbers will be better than the previous one, as the government has started spending again.
Sensex posts biggest single day jump in over a decade with 1,921-point surge
Friday’s big rally in the Sensex came after the index lost around 3,800 points from 39,908 after the presentation of the Union Budget on July 5, amid worries over the deepening slowdown in the economy.
Lower taxes likely to revive investment, but govt may find managing fiscal deficit tougher
When asked about the impact of the measures on the fiscal deficit, Finance Minister Nirmala Sitharaman said the government is conscious of the impact and expects the economic buoyancy resulting from these changes to generate significant resources.
Many big firms, IT companies may not benefit much from corporate tax cut
Finance Minister Nirmala Sitharaman Friday announced a new corporate tax rate of 22 per cent without exemptions and said the effective tax rate including surcharge and cess would now stand at 25.17 per cent.
Banks to now pay Rs 100 per day penalty for not resolving ‘failed’ transaction issues
The central bank has said the newly announced framework will build customer confidence and bring uniformity in the processing failed transactions, where the customer is not at fault.
GST Council slashes rates on hotel tariffs, grinders; hikes tax on caffeinated beverages
Apart from these, the government has also cut GST rates on slide fasteners, wet grinders, and marine fuel by a large margin.
Bold decision: RBI Governor welcomes Centre’s proposal to slash corporate tax for domestic firms
"This is a bold and welcome decision. During Arun Jaitley's tenure as FM, the corporate tax was reduced from 30 to 25 per cent. This was one of the hurdles, and the measures will help revive the economy," the RBI Governor said.
Investor wealth spikes Rs 2.11 lakh crore after FM announcements
From the 30-share Sensex basket, barring NTPC, all other 29 scrips were trading in the green led by Tata Steel, Maruti Suzuki India, HDFC Bank and Yes Bank, which were trading with gains of up to 5.7 per cent.
Corporate tax rate slashed for domestic companies: FM Nirmala Sitharaman
"Tax concessions will bring investments in Make in India, boost employment and economic activity, leading to more revenue," said Finance Minister Nirmala Sitharaman.
Nirmala Sitharaman announces cut in corporate tax: All you need to know
To stabilise the flow of funds into the market, the enhanced surcharge announced in Budget 2019 will not apply on capital gains arising on sale of any security, including derivatives by foreign portfolio investors, the Centre announced.
Sensex zooms 1,921 pts on FM’s tax booster; auto, bank stocks soar
The 30-share index soared 2,284.55 points to a peak of 38,378.02, before settling 1,921.15 points or 5.32 per cent higher at 38,014.62.
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