"Some MSMEs have also said that if the cycle of receiving the goods, manufacturing and sending it out is getting affected, because of delayed or staggered raw material supply, banks will also have to understand that out payments receipts will be taking their own time," Sitharaman said at a press conference after holding a meeting between the industry representatives and other stakeholders to assess the impact of the novel coronavirus, now officially known as Covid-19. … [Read more...] about Coronavirus impact: MSMEs request banks to be flexible
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On the other hand, individuals and HUF with business income are required to make an election while filing their tax return for AY 2021-2022. Such election is permanent and may only be withdrawn once. Once an individual/ HUF withdraws from the lower tax regime in favour of deductions and exemptions they cannot revert to the lower tax regime thereafter. … [Read more...] about Budget 2020|Personal tax rate cuts – to elect or not to elect?
While there is no scope for a repo rate cut at this stage, the stance of policy has to stay at “accommodative” to support the process of “transmission” through bond segments. Also, there should be transparent “forward looking guidance” about the RBI’s open market debt-purchase programme (Operations Twist) to help market participants understand the effectiveness of this measure in managing the yield curve. … [Read more...] about Monetary and fiscal policies need to go hand in hand
The cabinet also gave its nod to the renaming of upcoming government medical college in Mohali as Dr B R Ambedkar State Institute of Medical Sciences.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year. … [Read more...] about Punjab cabinet approves Rs 650 crore for rejuvenation of Buddha Nullah