Auto stocks rally led by Bajaj Auto; Ashok Leyland, Hero Moto, Tata Motors hit 52-week high
Bajaj Auto, Ashok Leyland, Hero MotoCorp, Tata Motors, TVS Motor and Eicher Motors hit new 52-week high on BSE. January 22, 2021 / 12:18 PM IST
The Indian stock market is trading at the day s low with Sensex down 468.23 points or 0.94 percent at 49156.53, and the Nifty shedding 134.50 points or 0.92 percent at 14455.90.
Among the sectors, the auto index was up 2 percet led by Bajaj Auto which jumped over 7 percent. The two-wheeler manufacturer clocked its highest-ever standalone profit of Rs 1,556.3 crore in the December quarter, rising 23.4 percent compared to the year-ago period, driven by volume growth and operating performance.
Union Budget 2021: Auto dealers body demands depreciation benefits for individual taxpayers In its Budget recommendations, the Federation of Automobile Dealers Associations also said auto dealers should be kept out of annual tax collected at source of 0.1% Representational image. Reuters.
New Delhi: Ahead of the upcoming Union Budget, the Federation of Automobile Dealers Associations (FADA) on Wednesday urged Finance Minister Nirmala Sitharaman to introduce benefits of claiming depreciation on vehicles for income tax-paying individuals and extend the depreciation period for corporates.
In its Budget recommendations, FADA also said auto dealers should be kept out of annual tax collected at source (TCS) of 0.1 percent saying it is a huge financial burden on the automobile retail industry.
Budget 2021: Auto dealers want FM to introduce vehicle depreciation benefits
India
Published: Thursday, January 21, 2021, 12:06 [IST]
New Delhi, Jan 21: Ahead of the upcoming Union Budget, the Federation of Automobile Dealers Associations (FADA) urged finance minister Nirmala Sitharaman to introduce benefits of claiming depreciation on vehicles for income tax-paying individuals and extend the depreciation period for corporates.
In its Budget recommendations, FADA also said auto dealers should be kept out of annual TCS (tax collected at source) of 0.1 per cent saying it is a huge financial burden on the automobile retail industry.
finance minister Nirmala Sitharaman The upcoming 2021 Union Budget should be focused on measures to revive the Indian economy from the pandemic slowdown and boost consumption led demand.
Auto dealers body urges FM to introduce vehicle depreciation benefits for individuals in Budget
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Last Updated: Jan 20, 2021, 09:23 PM IST
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Synopsis
In its budget 2021 recommendations, Federation of Automobile Dealers Associations also said auto dealers should be kept out of annual TCS (tax collected at source) of 0.1 per cent saying it is a huge financial burden on the automobile retail industry.
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It added that the increase in depreciation rate for all types of vehicles which was valid till March 31, 2020, should also be extended for 2020-21 and it will fuel demand further.
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NEW DELHI: Ahead of the upcoming Union Budget, the Federation of Automobile Dealers Associations (FADA) on Wednesday urged Finance Minister Nirmala Sitharaman to introduce benefits of claiming depreciation on vehicles for income tax-paying individuals and extend the depreciation period for corporates.