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FM announces IFSC tax sops to boost startup funding SECTIONS Last Updated: Feb 01, 2021, 08:06 PM IST Share Synopsis Union Budget 2021-22 provides for tax incentives for units under the IFSC at GIFT City, a move that will allow international funds to relocate to India and avail tax exemptions. AFP To facilitate the onshoring of offshore funds into India, the finance minister on Monday announced new tax incentives for units under the International Financial Services Centre (IFSC). This will allow international funds to relocate to India and avail tax exemption, experts said. The government of ...

Transactions involving royalty, tech fee taxable under I-T not liable for equalisation levy: Budget SECTIONS Last Updated: Feb 01, 2021, 09:21 PM IST Share Synopsis The Union Budget clarified that transactions taxable under income-tax are not liable for equalisation levy. In the past, there have been concerns on the interpretation of the equalisation levy provisions. Getty Images NEW DELHI: The government on Monday clarified transactions involving royalty/ technical services fee would be taxable under income-tax and not be liable for equalisation levy that is paid by foreign companies for con...

February 01, 2021 × To provide certainty, the Finance Ministry has clarified that transaction taxable under income-tax are not liable for equalisation levy on online players. Further, it has also clarified regarding the applicability of equalisation levy on physical/offline supply of goods and services. “The Budget has corrected the anomaly of mismatch in the effective date of income-tax exemption with applicability of EL retrospectively. So it is now clear that there will be a corresponding exemption from income-tax if equalisation levy is payable. Although, levy will not apply on receip...

Bank manager arrested for stealing ₹1 crore Updated: Updated: January 31, 2021 21:06 IST His friends told that they would double the money and hand over the full amount to him in a few hours Share Article AAA His friends told that they would double the money and hand over the full amount to him in a few hours The Yelahanka police have arrested the manager of a bank who allegedly stole ₹1 crore in cash and handed the money over to his contact who promised to double it in a couple of hours. The accused has been identified as Arun Veetamallu, manager of the Rajarajeshwari Nagar branch of Ban...

 E-Mail IMAGE: Eliminating a single gene can turn exhausted cancer-fighting immune cells known as CD8+ T cells back into refreshed soldiers that can continue to battle malignant tumors, a new study led... view more  Credit: UT Southwestern Medical Center DALLAS - Jan. 19, 2021 - Eliminating a single gene can turn exhausted cancer-fighting immune cells known as CD8+ T cells back into refreshed soldiers that can continue to battle malignant tumors, a new study led by UT Southwestern researchers suggests. The findings, published online this week in the Journal for Immunotherapy of Can...