Foreign cos using agents face tax
3 February 2018, The Times Of India

Some foreign companies, having liaison offices (LOs) in India or who avail of market support activities from their Indian subsidiaries or agents may need to re-examine their operating structure to avoid an income tax (I-T exposure in India. If a foreign entity has a business connection in India, the profits attributed to its India operations can be taxed.

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Union Budget 2018: Reimagining Customs Law and Process
2 February 2018, The Quint

The indirect tax space in Budget 2018 was dominated by customs related changes as Goods and Services Tax changes, having acquired a federal character, were already announced after the latest GST Council meeting on 18 January. However, the magnitude and range of changes introduced by the finance minister, which few expected, is nothing short of a reimagining of the customs law and process.

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Budget 2018: Cess eclipses standard deduction
2 February 2018, DNA

In what most expected, but were still disappointed with, there is no change in the personal income tax slabs in Budget 2018, apart from the reintroduction of the standard deduction of Rs 40,000. However, the deduction, too, is just optical relief, as it leaves too little in the hands of salaried employees to write home about.

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Mixed reaction on long-term capital gains tax
1 February 2018, The Hindu Business Line

Finance Minister, Arun Jaitley, made the worst dream of “imposition of long term capital gains tax on equities” of investors come true today. He has introduced the long term capital gains tax on sale of listed equity shares at 10 per cent without indexation benefit for an amount exceeding capital gains of Rs 1 lakh. He has also levied 10 per cent tax on the income distributed by equity oriented mutual funds.

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Should investors fear long-term capital gains tax?
1 February 2018, Express Newline

The BSE benchmark Sensex crashed over 400 points in afternoon trade today after Finance Minister Arun Jaitley announced 10% LTCG tax in his Budget speech. Only the gains that would arise after 31 January 2018 would be considered. The FM said that the total amount of exempted capital gains has surged to nearly Rs 3,67,000 crore as of last year's returns.

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ModiCare: Details please
1 February 2018, Fortune India

Presenting the union budget, finance minister Arun Jaitley Thursday proposed a healthcare programme that would benefit India’s 10 crore “poor and vulnerable” families, or around 50 crore people. Under the National Health Protection Scheme, a health cover of Rs 5 lakh per family will be offered for secondary and tertiary care hospitalisation, making it the world’s largest healthcare programme.

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Union Budget 2018: Finance Minister Arun Jaitley as ‘angel’? Here’s what startups want
24 January 2018, Financial Express

an angel investor is more focused on the potential a start-up possesses and quite often acquires the shares at a price higher than the FMV, resulting in an unfair tax burden for the start-up. So from this year’s Union Budget, we expects that the government should exempt start-up enterprises from Angel Tax, say during first three years of operation.

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