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According to depository data, Mauritius-based FPIs owned shares worth Rs 5.2 lakh crore in April 2017 contributing to 20% of the total FPI assets in India.
No extension of concessional tax rate: Interim Budget 2024 has disappointed the manufacturing start-up companies by not extending the sunset date for concessional corporate tax rate of 15% beyond March 31, 2024. Some industry experts are of the opinion that this non-extension might impact the government's Make In India initiative.
The resolution, proposed by Nigeria, was backed by 125 countries, including India, China and Russia, and passed in the UN General Assembly in New York last week despite developed nations such as the US, UK, Netherlands, Switzerland, Japan, France and Germany voting against it.
Amid ongoing debate over Angel Tax, government plans to release draft rules pertaining to the taxation of Indian startups by next week.
You shouldn’t. In fact, you should keep them. Tax proofs for expenses incurred or investments made must be saved for a few more years after you file your income-tax returns. If your case is reopened, the tax man could ask for document proof. If you fail to submit them, it can spell trouble.