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Govt eases norms for re-insurers for setting up shop at IFSC

Monday, August 5, 2019, 8:28 AM

In a bid to promote IFSC as an attractive destination for investment for global re-insurers, the government has relaxed norms for setting up shops at Gandhinagar international financial services centre. The notification of Finance Act, 2019, has paved the way for reduction of the Net Owned Funds (NOF) requirement for the opening of branches of foreign re-insurers in IFSC to Rs.1,000-crore from Rs.5,000-crore.
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Direct tax reform to take centre stage in PM Modi's second term

Sunday, June 2, 2019, 12:43 PM

The NDA government, in its second term, plans to introduce transformational changes in the direct tax regime by pruning a tax-rate that is as high as 30%, widening the tax-base and making it easier for honest individuals and corporate entities to comply with tax laws. At the same time, wilful tax-evaders and money launderers will not be spared, government officials aware of plan said.
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Net direct tax collection crosses Rs 10 lakh crore mark

Tuesday, March 19, 2019, 10:07 AM

The net direct tax collection figure has crossed the Rs.10 lakh crore mark as on March 16, helped by the fourth and final installment of tax payment, sources said. The entire advance tax data from across the country has not come yet, the sources said. However, the preliminary assessment indicates that the net direct tax collection has crossed Rs.10 lakh crore, they said.

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