The increase in surcharge, often called the 'super rich tax', has been rolled back for all domestic and foreign investorsFor income from salary, profession or rent above ₹2 crore, the surcharge increase will continue.
1 min read20 Sep 2019Analysts said it could reverse the outflows seen after the budget and may also aid in the appreciation of the rupeeThe higher tax surcharge on super-rich tax payers sent foreign portfolio investors into a selling spree
2 min read23 Aug 2019FPIs withdrew a net amount of ₹11,134.60 from equities while pumping in ₹1,937.54 into the debt segment during 1-9 August, taking the total net withdrawal to ₹9,197.06 croreAnalysts say the trend may reverse if the government addresses the tax concerns of overseas investors
1 min read11 Aug 2019The Sensex rose more than 700 points intra-day on expectations that the government would exempt FPIs from last month’s budget proposal to levy a higher tax in the form of a surcharge on the super rich
1 min read8 Aug 2019Official sources say PMO asked FinMin to come out with a solution that reduces the impact of new taxation on these institutional investorsA proposal to grandfather all income generated by FPIs till 5 July is being considered, which will reduce the impact of the new taxation by almost a third
2 min read6 Aug 2019FPIs had been net investors in the equity segment in the previous five monthsFPIs have been on a selling spree ever since government proposed 'super-rich' tax in its budget
1 min read21 Jul 2019Finance Bill amendments propose further tax relief for startups, NBFCsFinance minister added more safeguards against tax evasion in the amendments to Finance Bill
2 min read18 Jul 2019The Sensex plunged to its biggest single-day decline in nine months on 8 July, the first full trading day after the 2019-20 Union budget was announced on 5 JulyMint explores whether there was more to the fall in the indices than just the higher tax on foreign portfolio investors
2 min read12 Jul 2019In a country of vast disparities, it is well understood that the wealthy must bear a heavier tax burden than the rest. But progressive taxation has its limits. Let’s not overdo it
2 min read10 Jul 2019Capital gains, in particular LTCG, should have been excluded from high surcharge
4 min read10 Jul 2019The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared