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Vaibhav pande reacted Great @Vaibhavpande 20 Sep 2019 At 04:45 PM

Sensex zooms past 2,000 points after Finance Minister announces measures to slash corporation taxes on domestic companies

After Finance Minister Nirmala Sitharaman announced to slash corporation taxes on domestic companies in a bid to revive the sagging economy, domestic equity benchmark BSE Sensex rose over 2,000 points in the morning session today. As per media reports, after the announcement, the 30-share index zoomed 1904.06 points, or 5.28%, to 37,997.53 at 12:00 IST, while broader Nifty rose to 362.95 points, or 3.39%, to 11,067.75. The report further said that top gainers in the Sensex pack included Maruti, M&M, HDFC Bank, Tata Motors, Yes Bank, L&T, ICICI Bank, Bajaj Auto, and RIL, rallying up to 9%. Today’s announcement was the latest in a series of measures announced by the govt in the past few weeks to provide a boost to growth that has fallen to a six-year low of 5% in June quarter. Src: https://bit.ly/2lXI51M

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Vaibhav pande stand with @BJPGovt @Vaibhavpande 20 Sep 2019 At 04:45 PM

Finance Minister Nirmala Sitharaman announces to reduce 'Corporation tax'

In a bid to boost the economy, Finance Minister Nirmala Sitharaman has announced major tax cuts in Corporation tax. Here are the highlights - 1. All Domestic Companies will have Corporation tax at the rate of 22% (effective rate 25.17 % including cess and surcharge) but it will go under the subject to the condition that these companies do not avail any tax exemptions. No Minimum Alternative Tax (MAT) would be imposed. 2. Any domestic manufacturing company, incorporated post October 1, 2019 will be charged 15% tax (effective rate 17.01%). No MAT will be imposed on companies started before. This is only for companies who avails no tax exemptions or incentives 3. To provide relief to companies that continue to avail exemptions and incentives, the rates of MAT has been reduced from 18.5% to 15% 4. Enhanced surcharge introduced by the Finance Act 2019 would not be applied to capital gains arising out of sale of equity or share in a company/unit of equity oriented fund or unit of business trust liable for securities transaction tax. 5. Increased surcharge won’t apply on capital gains of sale of securities including derivates in the hand of Foreign Portfolio Investors. 6. No tax on buyback of shares in a case of listed companies which already have made a public announcement of buyback before 5th July 2019 7. The Finance Minister also expanded the scope of Corporate Social Responsibility activities. Now the companies can spend 2% of the money on a state or central govt incubators, PSUs, universities, IITs, public-funded entities. Do you think slashing corporate tax rate will serve as a major move to revive economy? Will it help companies in India? Let us know your views in comment section! Src:https://bit.ly/2msvnbD

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Vaibhav pande reacted Great @Vaibhavpande 20 Sep 2019 At 04:45 PM

Bihar: 43 people hospitalised after eating prasad

In Bihar's Muzaffarpur district, around 43 people have been hospitalised due to food poisoning allegedly after consuming contaminated prasad in Bisharma Pooja. 98 Sahib Ganj, MLA, Ram Vichar Rai, stated, "There was a pooja held in the Budhimanpur gram of Devariya Thana. Women, man and children all consumed prasad after which they suffered from loose motions. Ther are all being treated in the local hospital". A patient stated that he had prasad in the night and since then he has been suffering from vomiting and loose motion. Src: https://bit.ly/2m3qIg4

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Vaibhav pande stand with @VineshPhogat @Vaibhavpande 20 Sep 2019 At 04:45 PM

Vinesh Phogat wins bronze after securing 2020 Olympics berth

Recently Indian star wrestler Vinesh Phogat has become the first Indian wrestler to qualify for the 2020 Tokyo Olympics. She has clinched bronze in the 53 kg category in the World Wrestling Championships. This 25-year-old has won her maiden medal in 4th attempt after defeating two-time world bronze medalist Maria Prevolaraki of Greece. Src: https://bit.ly/2mp0jtb