The budget aims to balance socialism, wealth redistribution, and laissez-faire economics but past attempts at this balance have failed. It promises many transformative ideas but lacks specifics on implementation. While expanding infrastructure and promoting self-reliance, it raises taxes on the wealthy and aims to increase compliance.
Key Takeaways:
Methods of funding for investmenr in overseas JV/WOS
Capitalization of export proceeds
Investment in equity of companies registered overseas/rated debt instruments
Acquisition of foreign company through bidding or tender procedure
Key Takeaways:
Methods of funding for investmenr in overseas JV/WOS
Capitalization of export proceeds
Investment in equity of companies registered overseas/rated debt instruments
Acquisition of foreign company through bidding or tender procedure
Key Takeaways:
- What is Single Master Form
- Registration in FIRMS Portal
- Structure of FC-GPR
- Procedures and documents required
- Reason for rejection of form
Key Takeaways:
Recent amendment in FDI policy for foreign investment
Ambiguities relating to the amendment
Probable impact of the changes in the policy
Overview of other countries' rule for strategic takeovers
WTO principles and inference
Key Takeaways:
FEMA regulations relating to IFSC
Scheme for setting up of IFSC Banking Units (IBUs)
Permissible activities of IBUs
Rupee Derivatives at IFSCs
Managerial Remuneration under Companies Act and SEBI (LODR) RegulationsDVSResearchFoundatio
Key Takeaways:
Limits prescribed under Companies Act, 2013
Procedural aspects and provisions of Schedule V
Relaxation of provisions for certain companies
Recent amendments in SEBI (LODR) Regulations
Objectives & Agenda :
To know the background of Abu Dhabi Global Market (ADGM) and the kinds of business that can be set-up in ADGM. To understand the procedure for setting-up business in ADGM and the benefits of operating from ADGM. To analyse the restrictions placed on persons operating in ADGM. To know the rules governing ADGM and finally the webinar will cover the compliances that has to be done while carrying out operations in ADGM
The 2015 budget had long list of expectations. On one hand; the Government has addressed major issues surrounding the foreign investors which would certainly boost capital market inflows and revive the private equity industry (by deferring GAAR by 2 years and clarifying Permanent Establishment & Indirect Transfer of Assets). On other hand; it has just rationalized the subsidies. Probably as we see growth coming in and more job creation; subsidy burden can be better dealt with by the Government. Though there are no direct benefits for the middle class. However incentives have been introduced to encourage savings. These savings are expected to fuel the infrastructure and other investment plans laid out by the Government. Certainly Foreign investors have a reason to cheer for this Pro Business; Pro Growth Government budget.
Key Takeaways:
- What is Single Master Form
- Registration in FIRMS Portal
- Structure of FC-GPR
- Procedures and documents required
- Reason for rejection of form
Key Takeaways:
Recent amendment in FDI policy for foreign investment
Ambiguities relating to the amendment
Probable impact of the changes in the policy
Overview of other countries' rule for strategic takeovers
WTO principles and inference
Key Takeaways:
FEMA regulations relating to IFSC
Scheme for setting up of IFSC Banking Units (IBUs)
Permissible activities of IBUs
Rupee Derivatives at IFSCs
Managerial Remuneration under Companies Act and SEBI (LODR) RegulationsDVSResearchFoundatio
Key Takeaways:
Limits prescribed under Companies Act, 2013
Procedural aspects and provisions of Schedule V
Relaxation of provisions for certain companies
Recent amendments in SEBI (LODR) Regulations
Objectives & Agenda :
To know the background of Abu Dhabi Global Market (ADGM) and the kinds of business that can be set-up in ADGM. To understand the procedure for setting-up business in ADGM and the benefits of operating from ADGM. To analyse the restrictions placed on persons operating in ADGM. To know the rules governing ADGM and finally the webinar will cover the compliances that has to be done while carrying out operations in ADGM
The 2015 budget had long list of expectations. On one hand; the Government has addressed major issues surrounding the foreign investors which would certainly boost capital market inflows and revive the private equity industry (by deferring GAAR by 2 years and clarifying Permanent Establishment & Indirect Transfer of Assets). On other hand; it has just rationalized the subsidies. Probably as we see growth coming in and more job creation; subsidy burden can be better dealt with by the Government. Though there are no direct benefits for the middle class. However incentives have been introduced to encourage savings. These savings are expected to fuel the infrastructure and other investment plans laid out by the Government. Certainly Foreign investors have a reason to cheer for this Pro Business; Pro Growth Government budget.
Allaying all fears, the finance minister presented a brave budget. She took all Covid-19 blows on (fiscal) body and refused to yield to fiscal pressures. She prudently refused to indulge in allurements of raising resources through additional taxation. The Budget for FY22 is continuation of various measures announced during 2020 to support the economy. The recognition of the need of new economy (ecommerce workers, startups, e-learning, new education techniques etc.) and willingness to let go the control over even strategic CPSEs are signs of pragmatism. This is perhaps the only budget in independent India that does not propose to make any change in income tax rate structure.
It is now upon the administrative ministries, departments and state governments responsible for executing the proposals. Like Rishabh Pant, who went to Australia with a poor record of recent execution, the performance of these executing organs of the government in recent past has not been encouraging. It is to be hoped that the execution will improve materially in next 15 months and Indian economy shall emerge winner.
FALL IN RUPEE - A MAJOR CONCERN FOR THE ECONOMYNeha Sharma
The recent fall of the Indian rupee visà-vis US Dollar and other major currencies have caused serious concern in the business, profession and Indian intellectuals. The fall of Indian rupee indicate serious inherent weakness of the Indian economy and in spite of some arrests of the inflationary tendency the overall outlook is very weak. Some major indicators include:
The general election to Lok Sabha is the most important democratic process in the Indian Constitutional Framework. Current elections have attracted a huge turnout of the voters, clearly indicating to the political leadership that India need change and Indian democracy, economy and expectations of public and society is under transformation.
The BJP Government is on the verge of completing a year and has now stabilised. Major economic initiatives and actions are emerging for a high growth oriented economy.
INDIAN MANUFACTURING SECTOR NEED FOR A POSITIVE ENVIRONMENT FOR GROWTHNeha Sharma
The Indian Economy, the Government, the public at large and specially the people who are in industry, manufacturing sector, service sector or any other arena of business activity , all are deeply concerned with poor growth rate of manufacturing sector during last 2 to 3 years and specially in 2012-13.
Make in india – a formidable step in right directionNeha Sharma
Make in India campaign of Prime Minister Narendra Modi has evoked lots of attention all over the world. Prospective investors from China, Japan, USA etc are eagerly watching changes being made in the directions of investment liberalization . There is no doubt that with this PM has taken a major initiative to bring Indian and International Corporate Sector on one platform to aggressively boost industrial production and growth in India.
Companies Act 2013 and the draft Rules towards better corporate GovernanceNeha Sharma
The Companies Act 2013 has already been passed by the Parliament and has also received the assent of the President. The government is expected to announce the date from which the specific section of the new Act will come in force.
The general public and the society including top bureaucrats, politicians, media personnel, social activists, thinkers, intellectuals and policy makers and those who determine the future directions of the society and the economy expect the auditing profession to perform the roles of a watchdog who can monitor the auditee entity comprehensively to ensure that interest of owners, minority shareholders, investors, bankers, government, regulators, suppliers, customers and other stake holders are fully protected. Most importantly interest of the auditee entity are preserved and various financial and operational decisions taken by the management at various levels were in the interest of the company and were within the policy framework laid down by the Board.
Ease of doing business challenges persistingNeha Sharma
The new government has been brought to power by electorate of our nation along with large expectations by industry, businesses and professions and other stakeholders of the Indian economy.
U.S. Gandhi Budget 2015 - 2016 AnalysisKunal Gandhi
Rarely has there been a budget as highly anticipated as this one.
Coming on the heels of the defeat of the ruling BJP in the recent Delhi elections, there were expectations that the original ‘Maximum governance, minimum government’ model would give place to a more populist agenda.
India Inc on the other hand expected improving the ease of doing business and a more rational tax regime.
While Corporate tax was lowered and Wealth tax was abolished, a major theme in the budget was creating a social security framework. Targeting a GDP growth rate of 8 – 8.5%, the budget plans to keep the deficit to within 3.9% of GDP by laying special emphasis on infrastructure development with a major spend budgeted on Road building.
All in all, though there were no big bang reforms, the budget 2015 was a good mix of Pragmatism and Populism. We are optimistic about growth and believe a lot more reforms are expected in the coming 3 years.
The most beautiful aspect of Indian religious and social traditions has been their flexibility and adaptability.
In recent decades, superstitions, fears, desires, frivolous rituals and ostentatious celebrations have begun to dominate the sense of religiousness, rather than selfless prayers for general social well being, efforts to immerse into Nature, creating a path towards attainment of spiritual goals, and self-elevation as a human being.
But these distortions and irrationalities that have infested the social and religious customs and practices cannot be an argument against the religion itself.
The study of Indian religion, social customs and practices has encouraged me to adapt these customs and practices to suit my understanding and affordability.
Overall domestic equity market outlook – marginally positive, expect benchmark indices to continue moving in a narrow range in near term
Currency outlook – Stable, expect INR to average 70-71 for the year
Rate outlook – expect more easing
Total failure of "self regulation" on part of citizens is worrisome and needs to be managed at the primary education level.
Also worrisome is the tendency of businesses and professionals to indulge in finding loopholes in a legal provision even before such provisions becomes enforceable, rather than reasoning with the government about the appropriateness or otherwise of such provisions.
The argument that government is unresponsive and arrogant is more of a platitude, since most of the people and organizations wanting to engage with the government would fail the bona fide test that is pre requisite for such engagement. After all the law of land provides that the plaintiff must approach the court with clean hands only.
The mandate of this government is unmistakably for pragmatism, development, inclusivity, nationalism and good governance. This government does not enjoy the luxury of hiding behind the shields like limitation of coalition, party ideology and conventional political paradigms. People have afforded BJP complete freedom to deliver on the promised change and are entitled to expect an express delivery from the government.
Fiscal prudence is good. But that discussion could wait for a sunny day. In overcast conditions, as forecasted for this fiscal and the next, we need to bother more about leaking roof and broken umbrella.
"I am a weak and ordinary person. I have absolutely no control over my senses and desires. This material world is full of allurements and illusions (Maya). A multitude of forces is always at work to beguile me into following these allurements and illusions and diverting from the path of truth and righteousness. I have not found any worthy guru who can teach me how to face and win over these illusionary and demonic forces. I have however learned the art of dodging these demonic forces myself.
Kashi, the Soul of India, has become a generic Tier 2 north Indian city of India. You would struggle to tell a difference between Kashi, Dehradun, Patna, Bareilly, Moradabad, Aligarh, Agra, Panipat, Hissar, Jhansi, Allahabad, Gorakhpur, Kota. The city is growing like ginger - unplanned and unmindful.
In this note, I highlight the present day condition of the holy city of Kashi, with the objective of making a larger point that perhaps the direction and paradigm of development we have chosen needs to be reviewed
In my exploration of the treasure you know as India, I get to meet a variety of brilliant people. In my endeavor to understand how come a land of such amazing talent is miserable in many parts, distressed in few others and stressed in most, I must have spoken to thousands of people. I cannot claim to know any minutiae of the ailment that plagues the peace and happiness of my people, but I do have a faint idea. I do not have sufficient words to express my thoughts intelligently in economic jargon, therefore I would like to assistance of following six short stories to convey my thoughts. I believe that it is the toxic cocktail of misplaced priorities, unguided aspirations, dying socio-cultural roots, and short sightedness of people that might be responsible for at least some part of this misery, distress and stress. Salvation therefore may lie within.
The holy annual event of Kanwar Yatra has largely been reduced to frivolous celebrations and hooliganism. The devotees of Lord Shiva, who consumed venom to save the humanity, leave a long trail of venomous pollution behind them.
In my view, a deeper study is needed urgently to identify the causes of this cultural degeneration and to implement a remedial course. Else we risk losing our culture and traditions; and trust me nothing much will be left of India, as we know it, if so were to happen.
In past few months you have read the suggestions of the globally reputable experts to remove the growth impediments of Indian economy. Indubitably their efforts are commendable and suggestions very valuable. But in my view, these suggestions seek to maintain and somewhat improve the status quo. In that sense, these are incrementalist only. Moreover, since the experts recognize that the status quo is not a pretty picture in itself, rather the conditions are pathetic in many important areas, the approach may be lacking.
Believing that the present conditions are poor and challenging, and the current approach and ecosystem has mostly failed in tackling the problems afflicting the Indian socio-economic milieu, a zero based approach is worth trying.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
1. Union Budget FY20
Cocktail of Gandhi, Marx and Adam Smith
Ambitious, low on specificsAmbitious, low on specifics
- Vijay Kumar Gaba
1
This presentation does not contain any investment advice or equity research.
Please refer the important disclaimer given at the end of this presentation.
2. Key message
Many transformation ideas presented in budget
– mostly statement of intent, no specific programs, allocation or timelines indicated
An audacious attempt to find a balance between Gandhi (socialism), Marx (rich pay for
poor) and Adam Smith (laissez-faire).
- all previous such attempts have failed miserably.- all previous such attempts have failed miserably.
Promise of policy predictability, continuity and certainty broken with impunity
- Negative for business confidence
Overall rating - 6/10,
- for tight fiscal walk and new ideas.
2
3. Big Idea
• Mega Manufacturing Park
• Study in India
• National grids for highways, power, gas and water
• Development/Deepening of market for corporate bonds and CDS
• PPP in building Railways infrastructure and delivery of passenger freight services
Promotion of organized rental housing• Promotion of organized rental housing
• Self reliance in aviation with domestic aircraft leasing and MRO infrastructure
• Use of big data for improving compliance (pre filled It returns etc.)
• Incentives for Electric Vehicles
• Divestment of land holdings of CPSEs
• Creation of payment platform for MSMEs
3
4. Key announcement for capital markets
1. To "consider" raising minimum public shareholding of listed companies to 35%.
2. To rationalize and streamline the existing KYC norms for FPIs to make it investor friendly.
3. Proposal to set up a "Social Stock Exchange" for social enterprises and voluntary organizations.
4. Interoperability of NSDL/CSDL with RBI depository to facilitate retail participation in GSec.
5. Consultation for further opening of FDI in aviation, media and insurance sector.
6. 100% FDI to be permitted for insurance intermediaries.
7. Proposal to ease local sourcing norms for FDI in Single Brand Retail sector.
8. FPI limits in companies enhanced to sector limits with option to companies to set a lower limit.
9. Proposal to merge NRI-Portfolio Investment Scheme Route with the FPI Route .
10. Rs700bn additional capital for PSU Banks.
4
10. Rs700bn additional capital for PSU Banks.
11. HFCs to be regulated by RBI henceforth.
12. ETFs to be considered at par with ELSS.
13. Disinvestment target raised to Rs1.05trn.
14. Taxation of buy back of shares by listed firms to be at par with unlisted firms and dividend.
15. Hike in custom duties for ACs, tiles, PVC etc to protect and encourage local producers
16. Proposal to provide one time six months' partial credit guarantee to PSBs for first loss of up to
10% in case of high-rated pooled assets of financially sound NBFCs.
5. Key tax proposals
Personal income tax
1. Surcharge on personal income tax hiked -
(i) In cases where taxable income is more than Rs2cr 25% from 15% earlier; and
(ii) In cases where taxable income is more than Rs5cr to 37% from 15% earlier.
2. Filing IT return made mandatory in following cases:
(i) Deposit of cash in current account exceeds Rs1cr in a year; or
(ii) Foreign travel expense on himself or any other person exceeds Rs2lac in a year; or
(iii) Charges for electricity paid for himself or any other person exceed Rs1lac in a year; or
5
(iv) fulfils such other prescribed conditions, as may be prescribed.
3. Deduction of upto Rs1,50,000 on loan taken to purchase an Electric Vehicle (EV). Only one EV per
assessee eligible. Loan taken between 1-4-2019 to 31-3-2023 eligible.
4. Deduction of upto Rs1,50,000 in respect of loan taken in FY20 to buy an affordable house (stamp duty
value upto Rs45lacs) by a person who does not own any house previously.
Corporate tax
The rate of corporate tax for domestic companies whose the total turnover in FY18 was Rs450cr or less
(earlier Rs250cr or less), shall be 25%. A surcharge of 7% shall be applicable for these companies. No change
in rates for other companies.
6. Key tax proposals
Miscellaneous
• As per new section 194M, from 1 September 2019, all individual and HUF shall deduct TDS @5% from payments made
to contractors (for personal or business purpose) if such payments exceed Rs50lakh in a year.
• Taxes on gifts to a resident outside India shall be payable in India for any gift made on or after 5 July 2019.
• To claim benefit of rollover of exemption from capital gains tax on investment in specified assets like house, bonds etc.,
filing IT return would be necessary from AY21.
• A person who has not been allotted PAN but possesses an Aadhar Number, can quote Aadhar number for specified
transactions. Such person will be allotted PAN in prescribed manner. A person having both PAN and Aadhar, can quote any
of the two numbers.
• TDS @2% applicable wef 1-9-19 if the cash withdrawal by any person from banks, including cooperative bank, exceed
Rs1cr in a year.
6
Rs1cr in a year.
• From 1-11-19, any business whose annual turnover or gross receipts exceeds Rs50cr in a year, must allow payments
through electronics means, besides other modes of payments.
• Deposit taking and systemically important NBFCs allowed them recognize interest on bad debts on receipt basis.
• Section 194LC amended to exempt INR denominated bonds issued overseas from TDS requirement.
• Withdrawal of upto 60% of corpus from NPS account at the time of closer or opting out to be exempt from tax.
• Section 80CCD exemption limit for central government employees increased to 14% (10% earlier).
• Contribution to Tier II account of the pension scheme by central government employees included u/s 80C.
• CPSE ETF eligible for concessional rate of tax on STCG.
• TDS on taxable portion of life insurance payments now to be 5% of income instead of 1% of gross payments.
• From 1-9-19, STT on exercise of option to be calculated on difference between the strike price and settlement price.
• Import duty for precious metals increased to 12.5%.
• Rs 1 additional cess on petrol and diesel to fund EV initiatives.
13. Important Disclaimer
It is important to note that Vijay Kumar Gaba does not offer any portfolio management , brokerage, money management,
equity research or investment advisory services of any kind. Please take advise of a qualified and registered investment
advisor before taking any investment decision.
This presentations provide a general market overview for academic purposes.
This is definitely not intended to provide investment advice and these do not take into account the specific investment
objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice
regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed in
the reports.
Material from these reports may be copied freely, without any need for permission from the author/publisher. This is
however subject to copyright consideration of the contents of third parties.
13
however subject to copyright consideration of the contents of third parties.
Copyrights of all the third parties whose material has been used in preparation of this presentation is gratefully
acknowledged and respected.
The reports provide general information only. The contents should NOT be considered research analysis or advise.
