Black Money crackdown set to Intensify

March 14, 2017 · Author: · Category: / · Comment 

As per state election results declared by the Election Commission on March 11, 2017 the BJP performed exceedingly well in the largest Indian state of Uttar Pradesh (UP) where it managed to capture 77% of the seats. It is worth noting that this is a historic victory as is evident from the time-series data on the seat share and vote share captured by the winning party as compared with the previous UP elections.

Policy-making in India is likely to Read more

New Income Tax Cost Inflation Index for FY 2017-18

February 23, 2017 · Author: · Category: business · Comment 

The Finance minister in his Budget Speech on Feb-01-2017, revised the Cost Inflation Index used by the Indian Income Tax Department to calculate Long Term Capital Gains Tax with Indexation benefit. The revision was shift in base year from 1981 to 2001. What does this mean ? This means any “asset” as defined by the Indian Income Tax department and which comes under the purview of Long Term Capital Gain [For Example – Real Estate] and if acquired before 2001, then for the purpose of determining the Indexed Cost of Acquisition, the base year henceforth will be 2001.

Let us illustrate with an example. Suppose you bought a Plot of Land in 1980 for Rs 10,000. You plan Read more

Modi’s Demonetisation Execution Failure will Cost BJP Uttar Pradesh Assembly

January 4, 2017 · Author: · Category: general · Comment 

The Opinion poll survey conducted by Lokniti-CSDS on the upcoming Uttar Pradesh (UP) election in Feb-Mar 2017 suggests that no single party will be able to get a majority on its own in a 404-seat assembly. The survey hints that the BJP might finish at number two in the total seat tally. Since the last survey done in August 2016, nothing seems to have changed in Uttar Pradesh (UP) when it comes to the assembly election results. The ruling Samajwadi Party (SP) is still leading in terms of vote share and seat share but none of them is in a position to Read more

Will Modi Launch Universal Basic Income scheme in India ?

December 30, 2016 · Author: · Category: / · Comment 

The demonetisation move announced by the Narendra Modi led Government is creating a great deal of inconvenience for the electorate. We had therefore said that we expect the Government to consider launching a Universal Basic Income (UBI) scheme on a pilot basis in FY18.

What is the Concept of Universal Basic Income Scheme ?
Dr. Vijay Joshi in his recent book titled “India’s long road – The search for prosperity” expounds the concept of Universal Basic Income (UBI). According to him, the current system of subsidy disbursements is extremely inefficient since the system has limited success in targeting the deserving and also suffers from leakages. He proposes that a basic income of about Read more

NHAI / REC Reduce Interest Rates on 54EC Capital Gain Tax Exemption Bonds

November 29, 2016 · Author: · Category: bank · Comment 

Breaking NewsKeeping in mind the reducing trend in interest rates on FDs and other fixed income securities after the Demonetisation of Rs 500 and Rs 1,000 notes by the most respected Government of India, both REC and NHAI have decided to reduce the rate of interest for 54EC Capital Gain Tax Exemption bonds wef 01.12.2016. The new rate of interest for these bonds will be 5.25 % per annum. The amount invested in REC 54EC Capital Gain Tax Exemption Bonds where the amount of investment is credited in REC’s Collection Accounts on or after 1st December, 2016 and where deemed date of allotment for the bonds is 31st December, 2016 or a later date, the coupon/ interest rate will be 5.25 % per annum.

Capital Gains Bond After Real Estate / Property Sale
These Capital Gains Bonds are very popular with Indians after selling their Real Estate / Property Read more

Rs 500 + Rs 1000 Currency Ban – Modi Corners Corrupt Congress Politicians / Bureaucrats

November 10, 2016 · Author: · Category: bank · Comment 

Discontinuing usage of either of Rs 500 or Rs 1000 notes can significantly increase the physical risks of holding black money [What we have seen is, weight of Rs 1 Crore in the form of hard cash rises from 12kgs to 100kgs if the denomination of the sum is changed from 1,000-Rupee notes to 100-Rupee notes]. In line with these expectations, the Government banned Rs500 and Rs1,000 notes. Modi-led NDA Government is committed to the crackdown on black money.

The Key takeaways from this call of demonetizing existing currency notes – (1) this move reflects the NDA’s strong resolve to curb Read more

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