Friday, Mar 29 2024 | Time 19:42 Hrs(IST)
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Business Economy


Ms Sitharaman also announced that in order to stabilise the flow of funds into the capital market, it was provided that enhanced surcharge introduced by the Finance (No.2) Act, 2019 would not apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for securities transaction tax, in the hands of an individual, Hindu Undivided Family (HUF), Association of Persons (AOP), Body of Individuals (BOI) and Artificial Juridical Person (AJP).
The enhanced surcharge would also not apply to capital gains arising on sale of any security including derivatives, in the hands of Foreign Portfolio Investors (FPIs).
In order to provide relief to listed companies which had already made a public announcement of buy-back before July 5, 2019, it was provided that tax on buy-back of shares in case of such companies would not be charged.
She said government had also decided to expand the scope of CSR two per cent spending.
The total revenue foregone for the reduction in corporate tax rate and other relief was estimated at Rs 1,45,000 crore, she added.
UNI AKM 1235
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