Corporate tax cut in phases

choing Prime Minister Narendra Modi's Independence Day speech, she said Indian wealth-creator entrepreneurs would be given all kinds of support. Modi in his annual address to the nation from the Red Fort on August 15 had extolled the role of wealth creators and said they must not be viewed with suspicion. "Let us never see wealth creators with suspicion. Only when wealth is created, wealth will be distributed," he had said.On tax collection, Sitharaman said tax administrators become facilitators and people who pay tax are treated with a lot of understanding.Redemption reserves off The government has removed the redemption reserve requirement for the issue of debentures by non-banking financial companies, housing finance companies and listed firms, a move aimed at reducing the cost of raising capital.Under the companies law, these entities raising money had to create a debenture redemption reserve (DRR) of 25 per cent of the value of outstanding debentures. For unlisted companies, the DRR requirement has been reduced to 10 per cent from 25 per cent of the outstanding debentures."The measure has been taken to reduce the cost of capital raised by companies through the issue of debentures and is expected to deepen the bond market," the corporate affairs ministry said. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The Telegraphhttps://ask.fm/duangoesee (This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.) DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: Hindustan Timeshttps://soundcloud.com/user-239101232