No need to clarify higher tax on FPIs due to surcharges: Nirmala Sitharaman

The government on Friday raised income tax surcharge on people with an annual income of more than 20 million Indian rupees

1562437555-2726

Budget 2019: Indian Finance Minister Nirmala Sitharaman said on Monday there was no need for any clarification on the additional tax burden that could apply to foreign portfolio investors due to higher surcharges introduced by her budget last week.

The government on Friday raised income tax surcharge on people with an annual income of more than 20 million Indian rupees ($291,248.00) who make up the top end of Indian society.

Indian markets crashed due to a sell off led by foreign portfolio investors, who now may have to pay higher tax on their income due to the new rules.

Comments

Post a Comment

Popular posts from this blog

Is the worst over for Vodafone Idea stock?

Image
  Last month, Vodafone Idea hiked tariffs to improve its financials. But analysts continue to be wary of the telecom player. What is worrying them? What is the road ahead for the stock? Let's find out India’s third largest telecom player, Vodafone Idea, has been in the news for quite some time now, for all the right reasons. Starting from the government’s relief package in September to tariff hikes in November, the debt-laden telco seems to be getting its act together. Now, according to a Business Standard report, the company has managed to raise funds for interest payment to its bondholders due on December 13. Reacting to the report, shares of the company zoomed 16.5 per cent intra-day to hit a fresh 52-week high of Rs 16.6 per share. This was also the share’s highest level since May 2019. So, do these developments signal at a change of fate for Vodafone Idea? Not really, feel analysts. According to Balaji Subramanian, telecom sector expert at... read more
Read more

Will have a good time with Modi, says Trump before leaving for Houston

Image
The 90-minute music, dance, and multimedia show features close to 400 artists and community members from Texas and across the nation Howdy Modi : Looking forward to address 'Howdy, Modi' rally in Houston, US President Donald Trump said on Sunday that he and Prime Minister Narendra Modi will have a good time at the mega event. "We'll be going to Houston and we'll be at a very nice big stadium packed full of people with Prime Minister Modi," Trump told reporters on the South Lawns of the White House before he left for Houston, where he and Modi would address over 50,000 Indian-Americans. "He (Modi) asked if I would go with him and I've accepted and We're going to have a good time," Trump said minutes before he boarded Marine One from the White House lawns... read more
Read more

IPL 2019 Qualifier 2 CSK vs DC Preview: Can Delhi continue their dream run?

Image
In IPL 2019 qualifier 2, DC would be high on confidence as they know the conditions of the ground after winning Eliminator in Vizag but Chennai is unlikely to make the same mistakes again. Sports News : In qualifier 2 of VIVO Indian Premier League (IPL 2019) Delhi Capitals (DC) will face Chennai Super Kings (CSK) at the ACA-VDCA Stadium in Visakhapatnamon on Friday. MS Dhoni-led Chennai lost to Mumbai Indians in the qualifier 1 on Tuesday but they get another chance to reach the finals as they are placed second in IPL 2019 points table. Delhi defeated Kane Williamson’s Sunrisers Hyderabad (SRH) on Wednesday in the last-over thriller to face Chennai in the virtual semifinal. → Read our full coverage on  IPL 2019  ← While Capitals will have an advantage over Super Kings as they know the conditions of Vizag stadium better but for CSK, MS Dhoni’s experience will be handy to gauge the nature of the wicket. Chennai would look to fix their vulnerable spots while Delhi would...
Read more