Tax Incentive

Incentive scheme for low-value UPI transactions to boost ease of living: PM

The Union Cabinet headed by Modi on Wednesday approved an incentive scheme worth approximately Rs 1,500 crore to promote UPI transactions below Rs 2,000 for 2024-25

Budget: 5-year extension of incorporation deadline brings cheer to startups

In her 2025 Budget speech, FM Sitharaman announced an extension in the period of incorporation for startups by five years till April 1, 2030

Budget 2025: Ed-tech sector seeks tax relief, funds for AI-driven education

The ed-tech sector is hoping for more AI adoption through tax reductions, specifically targeting AI-first ed-tech businesses, startups, and MSMEs

Union Budget 2025: Apparel exporters seek tax incentives to boost shipments

Apparel exporters body AEPC on Saturday urged the government to announce tax incentives, including removal of a provision requiring payments to MSMEs within 45 days to claim deductions and customs duty exemption on garment machinery imports. The Apparel Export Promotion Council (AEPC) has also requested that an interest equalization rate of 5 per cent be announced in the Budget, scheduled to be unveiled on February 1 by Finance Minister Nirmala Sitharaman. Other demands include extension of concessional tax rate for new manufacturing units to encourage setting up of new garment units; simplification in the procedure of imports of trims and embellishments under IGCR (Import of Goods at Concessional Rate); and liberalizing e-commerce export procedures. "Ready Made Garments (RMG) industry has also demanded removal of Sec43B (H) of IT Act in the ensuing Budget which pertains to payment to any MSME companies within a maximum 45 days' time to claim any deduction in tax. This has increase

China revises its value-added tax, a big relief for small-scale taxpayers

The draft law exempts tax on specific agricultural products, imported equipment for scientific research and teaching, certain goods for people with disability, and services by welfare institutions

Malaysia announces tax breaks, incentives for Forest City development

Forest City, a joint venture between the embattled Country Garden and a private Malaysian company backed by the country's king, has been beset by problems

Semicon 2.0 scheme to raise subsidies; large chip design firms to benefit

Under the Semiconductor Incentive Scheme 2.0, the subsidy amount is likely to increase beyond the current limit

Ending Biden tax incentives would be 'historic mistake for states: Yellen

Treasury Secretary Janet Yellen is warning voters in the battleground state of North Carolina that they could lose jobs if Republicans weaken a signature Biden administration law that encourages investments in manufacturing and clean energy. Yellen says that Republican-dominated states like North Carolina are greatly benefiting from tax incentives under the 2022 Inflation Reduction Act and that eliminating them would be a historic mistake, according to a draft of a speech she will give Thursday at a community college in Raleigh. The Treasury Department released the remarks ahead of the address. North Carolina has emerged as a key battleground this election cycle between Republican former President Donald Trump and Democratic Vice President Kamala Harris, where Trump ultimately won North Carolina in the 2020 presidential election. Yellen says Treasury data shows that 90,000 North Carolina households claimed more than $100 million in residential clean energy credits and $60 million in

Budget 2024: FM's speech sparks praise for employment scheme, angel tax cut

Budget 2024: Industry experts react to Finance Minister's announcement of three employment-linked incentive schemes, abolition of angel tax, among others

South Korea to detail tax incentives aimed at supporting chip industry

The government will also release next month detailed measures to support the country's semiconductor industry

Interim Budget 2024: Industry seeks tax benefits, boost to exports

Indian industry, including exporters on Thursday, asked the government to provide tax incentives for research and more funds for marketing activities in the Budget to boost manufacturing and the country's outbound shipments. They also urged the government to consider developing a global shipping line in partnership with the private sector. India's outward remittance on transport services is increasing with rising exports. "We remitted over USD 80 billion as transport service charge in 2021. As the country moves towards the goal of USD 1 trillion, this will touch USD 200 billion by 2030," Federation of Indian Export Organisations (FIEO) said, adding that the private sector may be engaged to develop the shipping lines. This will also reduce arm-twisting by foreign shipping lines, particularly of our MSMEs, the organisation said. For promoting Research and Development (R&D) in the country, weighted tax deduction can be increased to 200 per cent, it said. "Unfortunately, India's ...

India plans to widen range of steel grades in manufacturing incentive plan

India has already approved an investment of about 6,300 cr rupees ($770 million) over five years to make high-grade specialty steel

Centre not looking at any 'tailored incentives' as of now for Tesla: Report

The union government is not looking at extending any tailor-made incentives to US-based electric car maker Tesla as of now, though states are free to offer concessions to the company, sources said. They also said that the company is talking about building a complete supply chain in the long run as they are showing keen interest in India. The representatives of the firms visited the country last month and held meeting with various parts of the government, including the commerce and industry ministry. "We have made it very clear that imports are not the preferred thing from our side...The company is talking big in terms of complete supply chains," one of the official sources said. When asked about extending incentives to the firms, they added that "the government is not looking at any tailored incentives as of now. States are a different matter. States might compete with each other and someone might give them (concessions)". In 2021, the US-based electric car maker demanded a reduct

Sri Lanka cabinet approves incentives to businesses at Colombo Port City

Primary and secondary businesses that are strategically important to the Port City have been identified, according to Gunawardena

Reliance Capital suitors likely to redraw offers after Budget tweak

The dispute is now pending at the National Company Law Appellate Tribunal (NCLAT)

Budget 2023: Exporters urge govt for fiscal incentives, lower customs duty

The meeting took place at a time when external demand is waning as exporters are facing global headwinds of high inflation, currency depreciation and geopolitical tensions

Proposed DESH law aims to grant SEZs greater flexibility, but will it work?

Some experts see significant positives, other believe problems associated with older policy will persist

NITI Aayog suggests tax sops for investment in Infra Investment Trusts

Niti Aayog has suggested to the government to provide tax incentives for investment in InvITs, and bring them under the IBC to attract retail as well as institutional investors

Mismatch between valuations and fundamentals glaring for AMCs: Analysts

March historically a good month for savings products across categories, for reasons such as tax incentives

Apple lobbies for India incentives as it plans iPad assembly: Report

Apple assembles a bulk of its iPads in China, but is fast diversifying production to markets such as India and Vietnam