Plans to phase out corporate tax exemptions over the next two years
GN Bureau | November 23, 2015
A process to phase out the corporate tax exemptions over the next two years has been placed before the stakeholders. The policy, which looks to reduce the tax rate, simplify the administration and improve India’s competitive edge globally, may hit the pharma sector.
It may result in discouragement of investment in research and development (R&D) and the special economic zones (SEZ). The policy may have an adverse impact on sectors ranging from infrastructure to information technology (IT).
Meanwhile, industrialist and biotech pioneer Kiran Mazumdar Shaw tweeted that the phasing out of tax exemptions especially those relating to weighted tax deductions in research n SEZ will kill Biotech.
The Govt's proposed phasing out of tax exemptions especially those relating to weighted tax deductions in research n SEZ will kill Biotech— Kiran Mazumdar Shaw (@kiranshaw) November 23, 2015
Ranveer Singh, a 78-year-old resident of Mukeempur Shivara village in the Jewar area, knows exactly what he wants in return for giving up his land for the international airport that is being planned there: four to five times the present circle rate, Rs 20 lakh for rehabilitation, a government job for at le
Does the Indian economy now need a fiscal stimulus?
Today, Nirmala Sitharaman, India’s first woman full-time defence minister, may appear a picture of poise and confidence. But 11 years ago, she wasn’t even sure if she should join the Bharatiya Janata Party (BJP), which has allowed her political career – and, of course, her abilities &ndas
On his first visit to Varanasi after the Uttar Pradesh polls, PM Modi announced and laid foundation stones of various projects on Friday and Saturday. Addressing a public meeting in Varanasi on Saturday, PM Modi took took a jibe at the opposition saying that the BJP’s programmes are no
Union minister for civil aviation, P Ashok Gajapathi Raju unveiled a new campus of the Indian Aviation Academy (IAA) spread over 5.33 acres. Civil aviation, secretary, R N Choubey said India is poised to attain its coveted place on global aviation arena as one among top three largest aviatio
Attributing enhanced focus on project execution as the reason behind Bharat Heavy Electricals Limited’s (BHEL) growth, the enterprise’s CMD Atul Sobti said BHEL achieved a capacity addition of 45,274 MW during the 12th five year plan period (2012-17) and surpassed the target of 41,661 MW by 9 p