From PTI : Government will not relent on Rs 40,000 cr tax demand on FIIs: Finance Ministry
NEW DELHI: The government will not relent to FIIs’ pressure for withdrawing tax demands worth Rs 40,000 crore towards minimum alternate tax (MAT), a top finance ministry official said today.
“The total demand is around Rs 40,000 crore. We will not yield to the FII demand for tax waiver,” he said.
A large number of such investors have been asked to pay MAT for untaxed capital gains earned by them, but they have protested these tax notices and demands saying they were exempt from long-term capital gains tax and had never been subjected to MAT in previous years.
The revenue department had sent notices to Foreign Institutional Investors (FIIs) demanding 20 per cent MAT on capital gains earned by them till March 31, 2015.
The FIIs had then approached the Authority for Advanced Rulings (AAR), which had ruled in favour of the tax department.
Finance Minister Arun Jaitley had previously stated that India was not a tax haven and legitimate dues from foreign investors would be pursued.
Jaitley had said in his budget speech had said that FIIs would be exempted from paying MAT on capital gains made by them with effect from April 1, 2015.
Even Revenue Secretary Shaktikanta Das had said that FIIs should look at courts to appeal against the tax rather than seek retrospective waiver.
“If you are not satisfied with a particular judicial pronouncement, the answer is to go and appeal to a next higher judicial forum… The answer is not in between rushing to the government and expecting the government to intervene through executive action or initiating a legislative measure to provide retrospective exemption,” Das had said.
Japan’s Maglev Train Hits World Record…… Speed 603km/hrs
https://youtu.be/Wv4a89bGCxU
21st April’15 FII’s & DII’s Activity ( Cash figure effect of Sunpharma stake sale )
Updated : 06.48pm / 21st April’15
21st April’15 Nifty Future update
NIFTY FUTURE closed : 8470
Yesterday Nifty Future was huge selling off like Blood bath
Written Last support NF at 8580……… After broken the level NF was Free Fall
NF made a low of 8446.35, high of 8643 and finally closed 8470
But lower level we recommend buying alert 25 points stop triggered
FII’s Sold Huge in Index future around 1500cr
Today Huge volatile will be expected!!!
Nifty Future consider support 8435 & 8410 levels
Suppose once if Breaks 8410 and Trade below the level………..
We see next Supports 8360 & 8320
LAST & FINAL HOPE 8320…….. Are you Risky ?? Can buy at decline use stop of 8320
U Turn Expected at lower levels!!!
RED ALERT Below 8320……………… Will check 8000 for Positional
Today’s Nifty Future consider Resistance 8500 & 8525
There after we see FIRE Work up to 8580 levels!!!
Where to Entry, Exit and Reversal point update to our clients on Live Market
Updated : 08.58am / 21st April’15
21st April’15 Banknifty Future levels
Banknifty Future closed : 18142
Today BNF facing support 18030 & 17970
Once if stays below 17970………… we see more panic up to 17800
Last & Final hope 17700.
Today’s Resistance 18300 & 18450………. There after we see 18600
Higher level stay caution!!!
More update to our clients only
UNIONBANK below 154.50…………
Free Fall on the card up to 150 & 147+
Updated : 08.49am / 21st April’15
21st April’15 Hot Calls
JUSTDIAL
(Closed : 1116 )
Yesterday Recommend Selling alert JUSTDIAL at 1127 cracked 1092
Again Today watch below 1092……..
Once if trade below the level
We see slide up to 1060 & 1030 levels
CESC
(Closed : 543.80 )
Yesterday’s HOT Sell stock CESC, Recommend at 566 cracked 540
Today again can sell around 550……….
Down side support 535 & 528 levels
LICHSGFIN
(Closed : 441.80 )
LICHSGFIN can buy around 438-440
Facing Resistance 448 & 455 levels
Keep stop of 435
ARVIND
(Closed : 262.65 )
ARVIND now trading near by Support level
Today once if breaks the level
Fall will be expected up to 6-10 pts from our alert
Which level will breaks???
Clients special call
GUESS
Today’s GUESS………
XXXX SELL BELOW 3082 TARGET 3020 2980
STOP-LOSS 3120
Guess………….. Which stocks ???
( Yesterday’s Guess call :Not activated )
Updated : 08.44am / 21st April’15
