Stay updated with breaking news from Anuradha shukla. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Express News Service NEW DELHI: The finance ministry on Monday announced a slew of measures to help the Covid-battered economy, including fresh credit for MSMEs, and targeted support to the healthcare and tourism sectors. The package includes Rs 1.10 lakh crore of credit guarantee scheme, of which Rs 50,000 crore will be for the healthcare sector, with a three-year single loan of up to Rs 100 crore carrying an interest of 7.95%. Loans to other sectors such as tourism and hospitality would come at 8.25% per annum interest rate. Special support was given to the hospitality sector in the form of retail loan worth Rs 10 lakh to travel agencies and Rs 1 lakh loan for registered tourist guides. ....
Express News Service NEW DELHI: The success of global tax treaty will pave the way for the India-US trade negotiations which were stuck over digital tax, officials in Commerce Ministry claims.“The digital tax imposed on large US multinationals like Google, Facebook, Amazon was one of the stumbling block during the trade negotiations between the two countries. After the success of global tax treaty, this matter will be automatically resolved and will pave way for fresh negotiation,” a senior official from commerce ministry said. India imposed a 2% equalisation levy starting in April last year on earnings in the country by foreign technology and e-commerce companies like Amazon, Facebook and Google. It was opposed by the administration of former President Donald Trump, and he flagged the concerns many times, stopping trade negotiations. In 2018, Trump imposed 25% duties on steel and aluminium imports from India. In 2019, Trump withdrew the special treatment for some ....
Express News Service NEW DELHI: India has extended its support for an international tax framework, which calls for global minimum corporate tax of 15% and makes way for countries to tax multinationals, especially tech giants like Google, Facebook and Amazon, on their earnings there. According to finance ministry officials, India will be able to tax big MNCs doing business in the country without having physical presence here up to 20% of their profits. In 2017-18, the Indian operations of Google and Facebook reported total revenues of Rs 9,800 crore ($1.4 billion). Their tax payments were Rs 240 crore ($38 mn) primarily on income.According to sources, India may have to let go of the 2% equalisation tax levied on these firms, which is also a major hurdle in the trade negotiation between the US and India. ....
Govt confident on fiscal deficit, rules out extra borrowing- The New Indian Express newindianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newindianexpress.com Daily Mail and Mail on Sunday newspapers.
I-T returns: What's new this year?- The New Indian Express newindianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newindianexpress.com Daily Mail and Mail on Sunday newspapers.