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The government on Monday retained the broad rate structure for all indirect taxes, which will dent its kitty under this head by 16.11 per cent this fiscal compared to projections a year ago.
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The rupee closed at 48.46/47 per dollar, weaker than 47.89/91 percent at close on Friday.
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The rupee tumbled in tandem with a plunge in local stocks and ended 65 paise weaker at a nearly two-week low of 48.54/56 against the US currency on fairly good dollar demand.
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The government on Monday retained the broad rate structure for all indirect taxes, which will dent its kitty under this head by 16.11 per cent this fiscal compared to projections a year ago.
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The exemption limit will now be Rs 240, 000 for senior citizens, Rs 190, 000 for women & Rs 160, 000 for others. What’s your money worth? | Impact of budget
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The government on Monday promised to come out within 45 days with a framework for the Direct Taxes Code that will simplify tax structure.
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APA is a pact between a taxpayer and tax authorities that allows both to set out in advance the method of determining transfer pricing for inter-company deals.
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ERP vendors are seeing increased enquiries pushing them to develop tailored solutions targeted at mid-market realty firms.
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DLF is on course to close more deals worth Rs 500 crore in the coming weeks, two company executives said.
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Mutual Funds have welcomed budget 2009-10 saying the proposals were on expected lines.
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Domestic institutional investors seem to be prepared for any money-making opportunity that the Budget may throw up on Monday.
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Disappointed that the Budget did not say anything on the policy front, the Sensex tanked 900 points soon after Pranab Mukherjee’s speech.
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India’s federal Budget on Monday brought little relief to the gem and jewellery sector as lack of a cut in interest rates took away cheer from the excise exemption on branded jewellery sales, industry officials said.
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Shareholders of Satyam have rebuffed the open offer made by IT firm Tech Mahindra as only 4,20,915 shares, or 0.1 percent stake, in the company were tendered in the offer.
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The Indian rupee recovered after a weak start and held steady at 47.87/89 against the greenback in early trade today as local stocks rallied smartly ahead of the Budget to be presented during the day.
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The Indian rupee today depreciated by 6 paise against the US dollar in early trade on increased demand for the American currency from importers.
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Indian shares are seen rising on Monday on expectations that the federal budget, due later in the day, will include measures to boost economic growth.
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Kenya is eagerly awaiting the imminent switch-on of its first fibre-optic cable, which many hope will spark an explosion in high-tech business and boost the East African nation’s struggling economy.
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Also the minister said import duty on silver is being raised to Rs1,000 ($20.7) per kg from Rs500 earlier
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