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As expected, the budget has been populist, where many sops have been provided to middle-class tax payers and farmers. Overall, it appears to be a well-balanced budget, with a mix of populist and pragmatic statements. The most critical aspect to this was that the fiscal deficit targets be maintained even after doling out benefits. The real estate sector has been given an impetus by extending the tax holiday for affordable housing- extending the exemption period for taxing notional rent on unsold inventory from one year to two years rollover capital gains benefit for two houses, among others. This will go a long way in meeting the government’s aim of ‘Housing for All by 2022’...
We are pleased to present the annual edition of SKP Investment Chronicle – our update that focuses on the deal-making landscape in India, comprising Mergers and Acquisitions (M&A), equity investments and exits. In this report, we look at India’s transactions arena in the year 2018. With stable GDP growth, reviving economy from setbacks of policy reforms and investor confidence, India has emerged as one of the fastest growing economies in the world and one of the most attractive investment destinations. Driven by bigticket transactions and strategic consolidation, 2018 has been a phenomenal year as total transaction value crossed the USD 100 billion mark...
We would like to update you with the recent updates introduced by the Federal Tax Authority (FTA) in relation to the VAT implications on interest income from bank deposits and dividend income and taxability of donations, grants and sponsorships. It is clarified that the Interest income generated from Bank Deposits does not constitute consideration for supply and such income can be said to be earned passively. Therefore, Interest income would be considered outside the scope of VAT...
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