Business – Page 5 – Neeraj Bhagat & Co.

April 8, 2020 / Business

India’s Growth Rate of More Than 7% is The Strongest Among G-20 Countries OECD Survey.

The Indian economy is expanding at a fast pace, boosting living standards and reducing poverty nationwide. Further reforms are now necessary to maintain strong growth and ensure that all Indians benefit from it, according to a new report from the OECD. The latest OECD Economic Survey of India 2017 finds that the acceleration of structural reforms and the move toward a rule-based macroeconomic policy framework are sustaining the country’s longstanding rapid economic expansion. The Survey, launched in New Delhi today …

April 8, 2020 / Business

Key Highlights of Budget 2017

This is the first time in Indian history that Union Budget has been announced one month in advance. This decision is made to complete the legislative process for approval of annual spending plans and tax proposals in chartered accountant firms in mumbai before beginning of the new financial year on April 1.

	-Govt. proposes levy of surcharge of 10% for income between Rs. 50 lakhs and Rs. 1 crores
	-FM proposed no change in Exemption limit but reduces tax

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April 8, 2020 / Business

Budget 2017 – Push or Pull To Digital Economy

Government is trying its every best to make India “A digital Economy”. It seems as India is on the edge of a massive digital revolution. Promotion of a digital economy is an integral part of Government’s strategy to clean the system and weed out corruption and black money.
There are not many changes in current indirect taxation in India regime as GST is proposed to be rollout on 1stJuly, 2017. Hon’ble Finance Minister in today’s speech, said that IT system …

April 8, 2020 / Business

Threshold Limit on ESI Increases to Rs. 21,000

As per notification issued by Ministry of Labour and Employment dt. 22nd December, 2016, in exercise of the powers conferred by section 95 of the Employees’ State Insurance Act, 1948, the Central Government, after consultation with the Employees’ State Insurance Corporation, hereby makes the following rules further to amend the Employees’ State Insurance (Central) Rules, 1950, namely:- 1. (1) These rules may be called the Employees’ State Insurance (Central) Third Amendment Rules, 2016. (2) They shall come into force from …

April 8, 2020 / Business

GST Could Trip Make In India For Smartphones

India’s success in making firms such as Samsung, Xiaomi, and Micromax to locally produce phones could become a cropper, once the Goods and Services Tax (GST) comes into effect, as the new expats taxation regime could neutralise the cost benefits to make these phones in India in taxation services for expatriates
Since the last two years, India has been able to attract 40 global smartphone makers in the country, after it tweaked norms that made cheaper to make phones in …

April 8, 2020 / Business

Ordinance Likely to Amend Payment of Wages Act.

A mid currency crunch, the government is mulling over bringing in an ordinance to amend the payment of wages Act for allowing business and industrial establishments to pay salaries through Cheques or by electronic modes.
“The government may bring an ordinance to amend Payment of Wage Act, 1936, to nudge employers of certain industries to make payment through electronic modes and cheques,” a source said Direct foreign investment in India.
The source further said, “The bill for the purpose …

April 8, 2020 / Business

It ministry asks Telcos for Cashless Action Plan

Ravi Shankar Prasad, minister of electronics and information technology, has given a week to mobile telephone service providers for a plan on how to increase cashless transactions, sources said. At a meeting on Friday, Prasad apparently met representatives from Jio, Airtel, Idea, Vodafone and BSNL, among others. Apart from promoting of digital payments, the minister asked them to find ways of making it possible for feature phones to pay and accept e-payments.“The service providers are on-board with the idea and

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April 8, 2020 / Business

Now Foreign Investors Can Invest in Unlisted Corporate Debt Securities

As announced in the Union Budget 2016-17, it has now been decided to expand the investment basket of eligible instruments for investment by FPIs under the corporate bond route to include the following:

(i) Unlisted corporate debt securities in the form of non-convertible debentures/bonds issued by public or private companies subject to minimum residual maturity of three years and end use-restriction on direct foreign investment in india real estate business, capital market and purchase of land. The expression ‘Real Estate …

April 8, 2020 / Business

Authorized Persons to Exchange Old Notes Held by Foreigners Up to Rs 5,000 Till Dec 15,

Attention of Authorized Persons is invited to the A.P. (DIR Series) Circular No. 16 dated November 9, 2016 giving certain exemptions to foreign tourists visiting India. In super session of instructions issued therein, it has been decided that foreign citizens (i.e. foreign passport holders) can exchange foreign exchange for Indian currency notes up to a limit of Rs. 5000/- per week till December 15, 2016 subject to the tenderer submitting a self-declaration that this facility has not been availed of …

April 8, 2020 / Business

Demonetisation to help revive affordable housing segment

Demonetisation will help revive the latent demand in the housing sector as people now hope to buy houses in transparent deals, said Sriram Kalyanaraman, managing director & CEO, National Housing Bank. In an exclusive chat with ET’s Saikat Das, Kalyanaraman said some segments of the housing sector will especially benefit from it as prices may correct 15-20% with adequate supplies. Edited excerpts…
Will demonetisation drive demand in the housing sector in direct foreign investment in India?
Housing finance is …