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Govt accepts Shah panel report, says no retrospective tax on FIIs Govt accepts Shah panel report, says no retrospective tax on FIIs The government has decided to amend the Income Tax Act to clarify the issue with regard to levy of MAT on FIIs and in the meantime CBDT field officers will be asked not to pursue cases against FIIs.
Nifty plunges 185 points on gloomy macro data; bank shares crack Nifty plunges 185 points on gloomy macro data; bank shares crack Investor sentiment was dampened after the June quarter GDP grew below estimates at 7 percent and core sector growth slipped to a three-month low of 1.1 percent in July.
No retrospective tax on FIIs; govt accepts Shah panel report No retrospective tax on FIIs; govt accepts Shah panel report In a big relief to FIIs, the government on Tuesday accepted recommendation of a high level panel that minimum alternate tax (MAT) should not be imposed on overseas portfolio investors retrospectively.
Govt accepts Shah Panel report, no retrospective tax on FIIs Govt accepts Shah Panel report, no retrospective tax on FIIs The government has accepted the Justice A P Shah panel report which recommends non-applicability of Minimum Alternate Tax (MAT) on FIIs, Finance Minister Arun Jaitley said on Tuesday.
Fitch affirms ratings on 9 Indian banks Fitch affirms ratings on 9 Indian banks International ratings agency Fitch has downgraded viability rating of state-run Punjab National Bank by a notch while affirming ratings on nine banks, including SBI and ICICI Bank.
RTGS facility will not operate on 2nd, 4th Saturdays: RBI RTGS facility will not operate on 2nd, 4th Saturdays: RBI The RTGS system, which allows real time transfer of large funds, will not be operated on second and fourth Saturdays with banks observing public holiday on that days, the Reserve Bank said Tuesday.
Rupee closes 26 paise higher at 66.22 against USD Rupee closes 26 paise higher at 66.22 against USD Snapping its 2-day losing streak, the rupee recovered by 26 paise to close at 66.22 against the US dollar Tuesday on fresh selling of the greenback by banks and exporters in overseas markets amidst fall in equities.
Market crash wipes out over Rs 2 lakh crore from investors wealth Market crash wipes out over Rs 2 lakh crore from investors wealth Total investor wealth of BSE-listed companies tumbled by Rs 2,02,654.47 crore to Rs 96,25,276 crore.
Sensex crashes 587 points to over 1-year low on slowing growth Sensex crashes 587 points to over 1-year low on slowing growth In tandem with overall trends, the BSE small-cap and mid- cap indices lost 2.17 and 1.96 percent, respectively.
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