Scheme for Measures For Stimulating Growth, Indian Budget 2017-18

 

Indian  Budget 2017-18, Schemes for Measures For Stimulating Growth

 

Scheme for Measures For Stimulating Growth, Indian Budget 2017-18Indian budget highlights on schemes for Measures For Stimulating Growth is extracted below:

 

Concessional withholding rate of 5% charged on interest earned by foreign entities in external commercial borrowings or in bonds and Government securities is extended to 30.6.2020. This benefit is also extended to Rupee Denominated Masala) Bonds

For the purpose of carry forward of losses in respect of start-ups, the condition of continuous holding of 51% of voting rights has been relaxed subject to the condition that the holding of the original promoter/promoters continues. Also the profit linked deduction) exemption available to the start-ups for 3 years out of 5 years is changed to 3 years out of 7 years

MAT credit is allowed to be carried forward up to a period of 15 years instead of 10 years at present

In order to make MSME companies more viable, income tax for companies with annual turnover upto ` 50 crore is reduced to 25%

Allowable provision for Non-Performing Asset of Banks increased from 7.5% to 8.5%. Interest taxable on actual receipt instead of accrual basis in respect of NPA accounts of all non-scheduled cooperative banks also to be treated at par with scheduled banks

Basic customs duty on LNG reduced from 5% to 2.5%

 

 

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