Startups to witness tax planning, investment opportunities and regulatory discussions via TV channels set-up specifically for this sector. This will bolster new entrepreneurs to understand the tax and regulatory framework in India along with possible fund raising opportunities - Sohrab Bararia, Associate Partner/ Indirect Tax, BDO India
Source: Zee Business
Social stock exchange with a policy, centric to promote sustainable impact investments, will generate large societal benefits apart from achieving financial goals - Suraj Malik, Partner, Transaction Tax, Tax & Regulatory Services, BDO India
Source: The Hindu
With an aim to stimulate growth, lower rate of 25% has been expanded to almost 90 % of the companies in India, to be made applicable for companies with a turnover of up to 400 crores. This is a welcome move towards bridging the gap of corporate tax with the ASEAN countries - N V Raman, Partner, Indirect Tax, BDO India.
Source: The Hindu
The much talked about angel tax for start-ups is proposed to go away, subject to provision of certain information and documents. And this would bring a sign of relief to start-ups. It is important to note that this benefit is likely to apply to start ups which are registered and recognised by DIPP - Nitesh Mehta, Prtner, Transaction, Tax and Regulatory Services, BDO India
Source: Moneycontrol
The application of direct and indirect taxes on this sector needs to be analysed carefully - Sohrab Bararia, Associate Partner/ Indirect Tax, BDO India
Source: The Hindu BusinessLine
Measures announced by the FM for water management would go a long way in an area that requires an urgent fix. The mission of Har Ghar Jal by 2024 is laudatory - Pranay Bhatia, Partner,Tax, & Regulatory Services, BDO India
Source: Business Today
Start-ups given impetus by introduction of tax sops and a dedicated TV channel for awareness, in pursuance of Make in India initiative. Plans to set up a global hub for manufacture of electric vehicles in India, GST rate cut for electrical vehicles from 12% to 5% and tax redemption to encourage purchase of electric vehicles, in lieu of government's commitment towards green India - Gunjan Prabhakaran, Partner/ Indirect Tax, BDO India
Source: Business Today
The devil of angel tax seems to be finally eliminated and several administrative measures announced should mitigate undue harassment of start-ups - Suraj Malik, Partner - Transaction Tax, Tax & Regulatory Services, BDO India.
Source: Business Today
Minimum public shareholding norms will require promoters to trim their stake in a time-bound manner and it is essential to have a highly conducive environment for the primary and secondary markets - Nitesh Mehta, Partner/Transaction, Tax, & Regulatory Services, BDO India
Source: VCCircle
With the objective of Make in India, the customs duties of certain finished goods are being increased while the customs duty is being reduced on some of the items. This will not only give a filip to manufacture in India but will also avoid the outflow of forex towards the same. In essence the customs duties are being rationalized - NV Raman, Partner/ Indirect Tax, BDO India
Source: Business Today
The legacy dispute resolution scheme is a widely expected move, not only to reduce pending litigation but also to bring in a onetime additional revenue to the Government. We, of course, need to wait for further details on how interest and penalty amounts are handled as a part of the measure - NV Raman, Partner for Indirect Tax, BDO India
Source: Economic Times
The recovery of Rs four lakh crores under the IBC vindicates our faith in one of the key reforms India has seen in recent times - Sundaresh Bhat, Partner and Leader at Business Restructuring Services, BDO India
Source: The Indian Express
The Rs 1 trillion reduction of non-performing assets (NPAs) in banks is a very healthy trend to clean the ill of the banking industry. The additional provision of Rs 70,000 crore to the capital of the public sector banks will also ensure additional restoration of financial confidence - NV Raman, Partner/ Indirect Tax, BDO India.
Source: Business Standard
Proposal to increase the limit to Rs 400 crore from the current Rs 250 crore for the application of 25 per cent tax rate coverage while seems large at more than 99 per cent coverage, the possibility of full-scale reduction of tax rate aligned to falling head-line tax rates seems to have taken a back-seat - Partho Dasgupta, Partner-Tax & Regulatory Services, BDO India
Source: Business Today
The clarity for start-ups that no inquiry would be made about the valuation of shares going forward as much as for past inquiries, provides a welcome relief to what seemed to be an unseemly tax controversy, defying the logic of taxing income and not capital - Milind Kothari, Managing Partner, Partner and Head, Tax and Regulatory Services, BDO India
Source: NDTV Profit
No scrutiny by IT department of share premium received by a start-up, this will reduce litigation to a great extent. Big relief for entrepreneurs - Transaction Tax Partner, Tax and Regulatory Services, BDO India.
Source: NDTV Profit
FM's assurance in the Budget to merge NRI and FPI (foreign portfolio investor) routes for investing in India to increase NRI funding in the country - Harry Parikh, Associate Partner, Transaction Tax, Tax & Regulatory Services, BDO India
Source: The Hindu
Government's guarantee provision to PSU banks for purchase of high rated pooled assets of financially sound NBFCs will be a boost for NBFCs, currently reeling under bad loan pressure - Tax Partner, Tax & Regulatory Services, BDO India
Source: The Hindu
The FM announced that SEBI will mull increasing minimum public shareholding from 25% to 35%. Implementation of this idea would require promoters to reduce their stake in a time bound manner and for this purpose, having a good primary market and conducive secondary market would be essential. It would be interesting to see the extent and form of relaxation that is announced to local sourcing norms in relation to FDI in single brand retail. This relaxation would certainly encourage more foreign players to explore setting up stores in India - Nitesh Mehta, Partner/ Transaction Tax, Tax & Regulatory Services, BDO India
Source: The Hindu
Standardisation of laws subsequent to the streamlining into four labour codes, is expected to reduce litigation and disputes - Tax Partner / Tax & Regulatory Services, BDO India
Source - Livemint
Increasing FDI limits in sectors like aviation and insurance is a huge positive since these sectors are highly capital intensive and a constant request by India Inc - Tax Partner/ Transaction Tax, Tax & Regulatory Services, BDO India
Source: Livemint
Reforms proposed for education sector will transform India into a knowledge economy and will significantly improve our human capital with rising aspirations - Suraj Malik, Partner/Transaction Tax, Tax & Regulatory Services, BDO India
Source: Moneycontrol
In continuation to bolstering MSME sector growth, interest subvention of 2 percent announced for fresh or incremental loans. This keeps the supply chain intact and registered assesses get additional buoyancy in this sector - Sohrab Bararia, Associate Partner/Indirect Tax, BDO India
Source: Moneycontrol
The proposal to let FIIs and FPIs to invest in debt securities issued by NBFC, would provide a much needed boost of capital to a sector now starving of capital; an important prop to several sectors, particularly, real estate and automobile which are reeling for lack of finance to purchasers/buyers - Milind Kothari, Managing Partner, Partner & Head, Tax & Regulatory Services, BDO India
Source: The Hindu