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    Surcharge on dividend income for FPIs may be capped at 15%

    In a major relief for foreign portfolio investors, the Union Government has proposed to cap the surcharge on dividend income from FPIs with a trust structure at 15 per cent.Currently, FPIs that operate as trusts have to pay a surcharge as high as 37 per cent if their dividend income is over Rs 5 crore and 25 per cent in case of a dividend income of Rs 2 crore and Rs 5 crore, following...

    • 6 hrs ago
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    SEBI steps to curb market volatility to continue till Oct 29

    The Securities and Exchange Board of India (SEBI) has extended, till October 29, the enforcement of regulatory measures aimed to contain market volatility amid the coronavirus pandemic.The measures, first introduced in March, include limits on positions that can be taken up by investors in the futures and options (F&O) segment. "On review of the Covid-19 pandemic-related...

    • 6 hrs ago
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    Extra financial burden on consumers due to PGCIL's inefficiency: CAG

    In a scathing attack on inefficient operations of state transmission utility Power Grid Corporation of India, the official au ditor Comptroller and Auditor General (CAG) has put the blame of higher electricity tariff on PSUs inability to recover Rs 6,853.43 crore from customers for relinquishing long-term access (LTA) to transmission network. According to the CAG report on...

    • 6 hrs ago
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    Diesel prices down 19-21 paise across metros

    Diesel prices declined in the range of 19-21 paise across the four metropolitan cities on Saturday.In the national capital, diesel was sold at Rs 71.82, lower from Rs 72.02 per litre on Friday.Similarly, in Mumbai, Chennai and Kolkata, the fuel was priced at Rs 78.27, Rs 77.21 and Rs 75.32 a litre, respectively, down 21 paise, 19 paise and 20 paise, respectively from the previous levels. The recent...

    • 7 hrs ago
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    GSTN unveils creative contest to bring taxpayers closer to tax system

    In yet another attempt to bring taxpayers and tax authorities closer to each other by way of better understanding of the tax systems, the Goods and Services Tax Network (GSTN) has launched a creative contest namely "GST-n-You" that will allow people to come up with their own videos and graphics on various recent initiatives and reforms on GST. The creative materials...

    • 7 hrs ago
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    Centre proposes tax incentives for foreign funds shifting to GIFT City

    In a bid to attract off-shore funds to set up their base in India, the Centre has proposed tax incentives or foreign funds who decide to shift their base to International Financial Services Centre (IFSC) at the Gujarat International Finance Tec-City (GIFT City).The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 tabled in the Parliament...

    • 7 hrs ago
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    No procurement from nations where Indian tenders prohibited: Govt

    The Central government has barred companies from countries, which do not allow Indian companies to participate in their government procurement, from participating in any government procurement tenders in India.In a statement on Friday, the Ministry of Commerce and Industry said that the Centre amended the Public Procurement (Preference to Make in India) Order, 2017 on September...

    • yesterday
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    Re 1 cess on petrol, diesel to fund Andhra road infrastructure

    The Andhra Pradesh government on Friday introduced a Road Development Cess of Re 1 per litre on petrol and diesel to raise funds for developing the state road infrastructure, which is currently in a bad shape after heavy rainfall."Taking all the factors into consideration and keeping in view the necessity of allocating dedicated funds to road development in the state, the...

    • yesterday
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    NBFC delinquencies could see up to 250 bps spike this fiscal

    The rapid increase in Covid-19 afflictions and intermittent lockdowns will increase asset quality challenges of non-banking financial companies (NBFCs), already grappling with the economic slowdown since last fiscal, Crisil Ratings said on Friday.According to Crisil, the trend in monthly collection efficiency till August 31, 2020 (unadjusted for moratorium) shows there is still some...

    • yesterday
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    SEBI tells MFs to put in place policy for trade execution, allocation

    The Securities and Exchange Board of India (SEBI) has made it mandatory for mutual fund houses to put in place a policy specifying the specific roles and responsibilities of various teams engaged in activities dealing with order placement, execution of order, trade allocation amongst various schemes.In a circular, the market regulator said that the policy shall ensure that all...

    • yesterday

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