Hike in tax sop for health insurance premium sought in Budget 2020
With the rise in healthcare costs, the tax exemption limits can be further increased by 20% for self and dependent parents each. This will provide a huge relief in terms of disposable income and help increase the penetration of health insurance.
Apparel, made-ups exports get 1% ad hoc sop
The textile ministry has announced a special one-time additional ad hoc incentive of up to 1% of free on board (FoB) value for exports of apparel and made-ups.
Improvement in prices, govt sops to support sugar mills’ profitability in near term: ICRA
Further, the decline in the sugar production along with the government support measures for SY2020 such as creation of 4 million MT of buffer stock and export subsidy for 6 million MT of sugar, are likely to support the sugar prices.
Handsets companies say Exports Sop must for investment
Handset brands and third-party manufacturers are putting investments and hiring plans on hold following a sudden reduction in duty credit scrips under the Merchandise Exports from India Scheme (MEIS) to 2%, from 4%.
Budget 2020 proposal for salaried professionals: PPF, NSC sops on cards to increase taxpayers' savings
Finance Ministry may allow tax exemptions of up to Rs 2.5L for savings and up to Rs 50,000 for NSC.
Millions of gig workers set to get health cover, other sops with labour law tweak
The code on social security, one of four codes that are intended to refashion 43 labour laws, seeks to extend coverage of employees state insurance corporation act across India and to all establishments employing 10 or more employees.
Food processing industry seeks 20% export sop
The high taxes on branded food products has led to an increase sale of food in loose form which is unsafe and unhealthy. This has also reduced consumption of packaged food, said Jindal. The association has also recommended that new units be provided with a five-year tax holiday irrespective of the location of the unit.
AAP govt unveils sops, targets 25% new EVs in Delhi by 2024
The Delhi Electric Vehicle Policy 2019 approved by the state cabinet on Monday focuses on electric two-wheelers, shared transport vehicles and goods carriers or freight vehicles, since they contribute to majority of the vehicular pollution, an official statement said.
Government plans higher duty sops to lure phone companies to Make in India
Govt has set a target to increase smartphone exports to $110 billion by 2025 from $3 billion now.
Restore 4% export sop: Electronic companies
Representatives from Apple, Uber, Paytm, Wipro, Reliance Jio Infocomm, IIM and ISB, and associations including MAIT and Nasscom attended finance minister Nirmala Sitharaman’s pre-budget consultations.
Xiaomi, MAIT want MEIS export sops back
The Manufacturers’ Association of Information Technology (MAIT), apex body of electronic product makers, has urged the government to restore the 4-5% incentive under the Merchandise Exports of India Scheme (MEIS).
Partial revival of export sops cheers spice traders
India exports around Rs 18,000 crore worth of spices every year.
MeitY urges Finmin to bring back 4% exports sops on smartphones
Meity has warned that unless govt restores sops for phone exports, the $3 bn industry would collapse.
Scrappage policy: No direct sops for junking old cars
“The Central government will not offer any direct incentives in the policy or any tax sops, as was being talked about earlier,” an official told ET. “State governments will be free to offer rebates on road tax against a scrapping certificate. Even original equipment manufacturers can allow a discount against a scrapping certificate if they want to boost their sales.”
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service