Business in India

Business in India, one the fastest growing economies, has been growing faster ever since 'economic liberalisation' opened the floodgates of worldwide trade in 1991. Tremendous scope for business exists in India, which boasts of being the 10th largest economy of the world in terms of market exchange rate and third largest on the count of Purchasing Power Parity.

India is rapidly surging ahead on the global economic front and thus brandishes great business opportunities in all sectors. Its mighty, second largest labour class in the world with 48.66 crore workmen, is poised to attract massive foreign investments. Business houses and multinational corporations across the globe have great expectations' from India’s burgeoning economic prowess.

India Business News

By next month, American crude oil's first shipment will reach India
After the former president of the US, Barack Obama lifted the 40-yr-old ban on its export, the first shipment of crude oil to India worth USD 100 mi..Read More
Snapdeal launches mobile marketplace, Shopo
Aiming to help small businesses find their customers, e-commerce portal Snapdeal on Wednesday launched 'Shopo', a mobile-based marketplace. ..Read More
BSE cracks down on 530 companies without a woman director
Stock exchange BSE has cracked the whip on 530 companies that have not appointed a woman director, asking them to pay up the fine for non-compliance..Read More
Sensex provisionally closes more than 265 points up
Hopes of a rate cut and expectations of importing cheaper oil from Iran after it signed a nuclear deal with the world powers cheered the Indian equi..Read More
Kerala institute offers training for masons, engineers
A Kerala institute set up at a cost of Rs.100 crore will provide skill development courses for masons, diploma holders and engineers, a minister sai..Read More
Branding Nano as cheap car was wrong: Tata
Branding Tata Motors small car Nano as a cheapest car was a mistake and was one of the reasons for the model not taking off as expected, Ratan Tata,..Read More
Telecom minister to open Infocom meet Thursday
Communications and Information Technology Minister Ravi Shankar Prasad will on Thursday inaugurate a two-day conference on business, technology and ..Read More
Sensex surges 127 points in early trade
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), on Wednesday was trading at 127.06 points or 0.45 percent up du..Read More
Income tax return can now be verified electronically
In a move to facilitate taxpayers through e-enabled services, the finance ministry on Tuesday said the income tax return for assessment year 2015-16..Read More
FDI up 48 percent in seven months of 'Make in India'
Foreign direct investment (FDI) into the country has seen a 48 percent growth in the seven-month period from the launch of 'Make in India' i..Read More
India clears defence purchases worth over Rs.29,000 crore
India on Tuesday cleared defence purchases worth over Rs.290 billion ($4.5 billion) at a meeting of the Defence Acquisition Council (DAC). Among the..Read More
Odisha's revenue collection up 33 percent
Odisha Finance Minister Pradeep Amat on Tuesday said that the state's total revenue collection has increased by 33 percent in the first quarter ..Read More
'Service Charge' in restaurant bills doesn't come to us: Government
Service charges levied on customers by some restaurants do not end up in the government exchequer and are retained by the outlets, the finance minis..Read More
With wholesale prices in negative, India Inc urges RBI rate cut
India Inc on Tuesday called in unison for a rate cut next month by the Reserve Bank of India as official data showed that the annual inflation rate ..Read More
Sensex down 44 points in afternoon session (Lead)
A benchmark index of Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), was on Tuesday trading 44.03 points or 0.16 percent down du..Read More
India's wholesale inflation falls further to (-)2.4 percent
India's annual rate of inflation based on wholesale prices continued in the negative territory in June, falling further to (-)2.4 percent from (..Read More
Sensex sheds 42 points in early trade
A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), on Tuesday was trading at 42.12 points or 0.15 percent down dur..Read More
More social security schemes to benefit all: Jaitley
The government would formulate more variants of its social security schemes to benefit maximum number of people, union Finance Minister Arun Jaitley..Read More
Cargo handling in Indian ports rises by 5.4 percent: ICRA
Credit rating and investment information company ICRA on Monday said during the fiscal year ended March 31, 2015, Indian ports have registered a mod..Read More
CNG stations to triple in NCR: Petroleum minister
The government plans to triple the current CNG stations in the national capital region (NCR) for boosting use of the clean fuel, Petroleum Minister ..Read More
Modi to launch Skill India Campaign on July 15
Prime Minister Narendra Modi will launch the Skill India Campaign on the occasion of World Youth Skills Day on July 15, Skill Development and Entrep..Read More
Honda launches new Jazz in Karnataka
Honda Cars India Limited (HCIL) launched its third generation Honda Jazz's petrol and diesel variants in Karnataka on Monday. "We strongly ..Read More
Rs.25,085 crore net outflow for mutual funds in June
Indian mutual funds saw a net outflow of Rs.25,085 crore in June, as per data published by Association of Mutual Funds in India (AMFI). According to..Read More
Greece deal buoys investors, Sensex gains 300 points
A barometer index of the Indian equity markets provisionally closed 300 points up on Monday, as investors' sentiments were buoyed on account of ..Read More
June retail inflation rises to 5.40 percent
India's retail inflation inched up to 5.40 percent in June from 5.01 percent in May, official data showed on Monday. Source: IANS ..Read More
Individual resident aged below 60 years or any NRI/ HUF/ AOP/ BOI/ AJP*
Annual IncomeTax Rates
Up to Rs.2,50,000Nil
Rs.2,50,001 - Rs.5,00,0005%
Rs.5,00,001 - Rs.10,00,000Rs.12,500 + 20%
Above Rs.10,00,000Rs.1,12,500 + 30%
In case of a resident senior citizen (who is 60 years or more but less than 80 years)
Annual IncomeTax Rates
Up to Rs.3,00,000Nil
Rs.3,00,001 - Rs.5,00,0005%
Rs.5,00,001 - Rs.10,00,000Rs.10,000 + 20%
Above Rs.10,00,000Rs.1,10,000 + 30%
In case of a resident super senior citizen (who is 80 years or more)
Annual IncomeTax Rates
Up to Rs.5,00,000Nil
Rs.5,00,001 - Rs.10,00,00020%
Above Rs.10,00,000Rs.1,00,000 + 30%
TDS should be deducted at applicable rates as above along with surcharge and Education Cess.
Rebate under Section 87A
Surcharge: 10% of the Income Tax, where the taxable income is between Rs. 50 lakhs and Rs. 1 crore. However, the amount of Income Tax and Surcharge will not raise the amount of income tax that is payable on a taxable income of Rs. 50 lacs by more than the amount of increase in taxable income. 15% of the Income Tax, where taxable income is in excess of Rs. 1 crore. However, the amount of Income Tax and Surcharge will not raise the amount of income tax that is payable on a taxable income of Rs. 1 crore by more than the amount of increase in taxable income. Education Cess: 3% of the total of Income Tax and Surcharge. * Abbreviations used: NRI - Non Resident Individual; HUF - Hindu Undivided Family; AOP - Association of Persons; BOI - Body of Individuals; AJP - Artificial Judicial Person

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Last Updated: November 14, 2017