• About Us
  • Contact Us
Saturday, February 4, 2023
  • Login
  • Register
B2B Infomedia
No Result
View All Result
  • Home
  • Fintech
    Credit card numbers continue to slip after RBI’s deactivation order

    Digital economy push offers hope for multiple players: Mastercard

    PayU reports over 50% jump in revenue, clocks net profit of Rs 126 crore

    Paytm Payments Bank gets final RBI nod to operate as Bharat Bill Payment Operating Unit

    Indian Bank to hold vostro A/cs of 3 Sri Lankan banks

    Indian Bank expands digital offerings under ‘Project WAVE’ initiative

    India records over 23 billion digital payments worth Rs 38.3 lakh crore in Q3

    Cabinet approves promotional incentives worth Rs 2,600 crore for Rupay debit cards, low value UPI transactions

    RBI response sought on PIL seeking uniform banking code for forex transactions

    Reserve Bank of India puts on hold NUE licensing

    Fresh KYC process can be done through video, says RBI

    Fresh KYC process can be done through video, says RBI

  • BFSI
    SBI says further financing to Adani projects to be evaluated on merit

    SBI says further financing to Adani projects to be evaluated on merit

    Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

    Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

    Our loans to Adani Group are secure: JK Bank

    Our loans to Adani Group are secure: JK Bank

    RBI response sought on PIL seeking uniform banking code for forex transactions

    Banking sector remains resilient and stable: RBI

    SBI sees 14%-15% corporate credit growth in FY23

    SBI, BoB say Adani exposure within limits, payments on track

    SBI sees 14%-15% corporate credit growth in FY23

    India’s largest bank SBI has $2.6 billion of loans to Adani Group companies

  • Education
    Increase in SC, ST and OBC students enrolment in higher education institutions: AISHE 2020-21

    Increase in SC, ST and OBC students enrolment in higher education institutions: AISHE 2020-21

    AISHE 2020-21: Enrolment of Muslim students for higher education decreases to 4.6%

    AISHE 2020-21: Enrolment of Muslim students for higher education decreases to 4.6%

    IIM Raipur introduces executive certificate programme for Strategic Chief Marketing officers

    IGNOU launches PG diploma Journalism; course available in three languages

    UPCON and Jadooz to set up edutainment centres called ‘Magic Rooms’ in rural Uttar Pradesh

    School dropout rate declines, gender parity improves: Economic Survey

    Entry of foreign varsities in India will lead to healthy competition: Private Universities’ VCs

    Gender gap in undergraduate programmes widens, gains of last few years lost to pandemic: AISHE Report

    Nearly 50 top institutes without chairpersons; 10 waiting for over 8 years

    Nearly 50 top institutes without chairpersons; 10 waiting for over 8 years

  • Enterprise
    Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

    Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

    Our loans to Adani Group are secure: JK Bank

    Our loans to Adani Group are secure: JK Bank

    SBI sees 14%-15% corporate credit growth in FY23

    SBI, BoB say Adani exposure within limits, payments on track

    SBI sees 14%-15% corporate credit growth in FY23

    India’s largest bank SBI has $2.6 billion of loans to Adani Group companies

    Tata Sons looks to shed its ‘Upper Layer NBFC’ tag

    Tata Sons looks to shed its ‘Upper Layer NBFC’ tag

    Most public banks continue to reel under weak assets even as private counterparts thrive

    UP seeing fast increase in new borrowers: Transunion Cibil

  • Technology
    Web Werks – Iron Mountain JV launches its First Greenfield Data Center in Mumbai

    Web Werks – Iron Mountain JV launches its First Greenfield Data Center in Mumbai

    New Course by IITs: BTech in Computational Engineering

    New Course by IITs: BTech in Computational Engineering

    Niti Aayog’s AIM, CBSE, Intel India collaborate to bring change in education sector

    Niti Aayog’s AIM, CBSE, Intel India collaborate to bring change in education sector

    Indian Bank to hold vostro A/cs of 3 Sri Lankan banks

    Indian Bank expands digital offerings under ‘Project WAVE’ initiative

    India records over 23 billion digital payments worth Rs 38.3 lakh crore in Q3

    Cabinet approves promotional incentives worth Rs 2,600 crore for Rupay debit cards, low value UPI transactions

    Amid layoffs, American tech giants recruit less from IITs in 2022-23 placement season

    Amid layoffs, American tech giants recruit less from IITs in 2022-23 placement season

  • Events
    • Upcoming Events
    • Past Events
  • Home
  • Fintech
    Credit card numbers continue to slip after RBI’s deactivation order

    Digital economy push offers hope for multiple players: Mastercard

    PayU reports over 50% jump in revenue, clocks net profit of Rs 126 crore

    Paytm Payments Bank gets final RBI nod to operate as Bharat Bill Payment Operating Unit

    Indian Bank to hold vostro A/cs of 3 Sri Lankan banks

    Indian Bank expands digital offerings under ‘Project WAVE’ initiative

    India records over 23 billion digital payments worth Rs 38.3 lakh crore in Q3

    Cabinet approves promotional incentives worth Rs 2,600 crore for Rupay debit cards, low value UPI transactions

    RBI response sought on PIL seeking uniform banking code for forex transactions

    Reserve Bank of India puts on hold NUE licensing

    Fresh KYC process can be done through video, says RBI

    Fresh KYC process can be done through video, says RBI

  • BFSI
    SBI says further financing to Adani projects to be evaluated on merit

    SBI says further financing to Adani projects to be evaluated on merit

    Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

    Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

    Our loans to Adani Group are secure: JK Bank

    Our loans to Adani Group are secure: JK Bank

    RBI response sought on PIL seeking uniform banking code for forex transactions

    Banking sector remains resilient and stable: RBI

    SBI sees 14%-15% corporate credit growth in FY23

    SBI, BoB say Adani exposure within limits, payments on track

    SBI sees 14%-15% corporate credit growth in FY23

    India’s largest bank SBI has $2.6 billion of loans to Adani Group companies

  • Education
    Increase in SC, ST and OBC students enrolment in higher education institutions: AISHE 2020-21

    Increase in SC, ST and OBC students enrolment in higher education institutions: AISHE 2020-21

    AISHE 2020-21: Enrolment of Muslim students for higher education decreases to 4.6%

    AISHE 2020-21: Enrolment of Muslim students for higher education decreases to 4.6%

    IIM Raipur introduces executive certificate programme for Strategic Chief Marketing officers

    IGNOU launches PG diploma Journalism; course available in three languages

    UPCON and Jadooz to set up edutainment centres called ‘Magic Rooms’ in rural Uttar Pradesh

    School dropout rate declines, gender parity improves: Economic Survey

    Entry of foreign varsities in India will lead to healthy competition: Private Universities’ VCs

    Gender gap in undergraduate programmes widens, gains of last few years lost to pandemic: AISHE Report

    Nearly 50 top institutes without chairpersons; 10 waiting for over 8 years

    Nearly 50 top institutes without chairpersons; 10 waiting for over 8 years

  • Enterprise
    Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

    Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

    Our loans to Adani Group are secure: JK Bank

    Our loans to Adani Group are secure: JK Bank

    SBI sees 14%-15% corporate credit growth in FY23

    SBI, BoB say Adani exposure within limits, payments on track

    SBI sees 14%-15% corporate credit growth in FY23

    India’s largest bank SBI has $2.6 billion of loans to Adani Group companies

    Tata Sons looks to shed its ‘Upper Layer NBFC’ tag

    Tata Sons looks to shed its ‘Upper Layer NBFC’ tag

    Most public banks continue to reel under weak assets even as private counterparts thrive

    UP seeing fast increase in new borrowers: Transunion Cibil

  • Technology
    Web Werks – Iron Mountain JV launches its First Greenfield Data Center in Mumbai

    Web Werks – Iron Mountain JV launches its First Greenfield Data Center in Mumbai

    New Course by IITs: BTech in Computational Engineering

    New Course by IITs: BTech in Computational Engineering

    Niti Aayog’s AIM, CBSE, Intel India collaborate to bring change in education sector

    Niti Aayog’s AIM, CBSE, Intel India collaborate to bring change in education sector

    Indian Bank to hold vostro A/cs of 3 Sri Lankan banks

    Indian Bank expands digital offerings under ‘Project WAVE’ initiative

    India records over 23 billion digital payments worth Rs 38.3 lakh crore in Q3

    Cabinet approves promotional incentives worth Rs 2,600 crore for Rupay debit cards, low value UPI transactions

    Amid layoffs, American tech giants recruit less from IITs in 2022-23 placement season

    Amid layoffs, American tech giants recruit less from IITs in 2022-23 placement season

  • Events
    • Upcoming Events
    • Past Events
No Result
View All Result
B2B Infomedia
No Result
View All Result
Home BFSI

India plans tax waivers for IDBI Bank buyer

The federal finance ministry is looking to relax a tax clause, which would require the buyer of IDBI Bank to pay additional tax if the share price rises post the final bid, one of the officials said. Share prices tend to increase after financial bids are invited by the government, the official said, noting that it would be "unfair" to ask the new buyer to pay tax on an increase in price from the time bids are placed to the closure of transaction.

Prashant Dwivedi by Prashant Dwivedi
December 20, 2022
in BFSI
A A
0
No PSU norms for IDBI Bank after stake sale, clarifies govt
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

The Indian government is likely to waive some tax norms for the buyer of IDBI Bank in a bid to attract more suitors for a majority stake sale in the lender, two government sources said on Tuesday, after the Centre extended the deadline for initial bids.

The federal finance ministry is looking to relax a tax clause, which would require the buyer of IDBI Bank to pay additional tax if the share price rises post the final bid, one of the officials said.

Share prices tend to increase after financial bids are invited by the government, the official said, noting that it would be “unfair” to ask the new buyer to pay tax on an increase in price from the time bids are placed to the closure of transaction.

In case the share prices of IDBI Bank increase after financial bids are formally placed, the difference in share price may be considered as “other income” for the buyer as per tax laws, explained Om Rajpurohit, a partner at tax firm AMRG & Associates. “This will be taxable at 30% plus a surcharge and cess,” Rajpurohit added.

The government’s planned tax waiver will allow a potential buyer to avoid this levy.

The government and state-run Life Insurance Corp. (LIC) together hold about 95% in IDBI Bank, and have sought initial bids from investors to buy a 60.72% in the bank. Last week, it extended the deadline for submitting initial bids until Jan. 7.

Once the government receives initial bids expressing interest from buyers, the Reserve Bank of India would vet them to see if they meet the central bank’s “fit and proper” criteria.

India’s finance ministry did not immediately reply to requests seeking comment.

0Like
0Dislike
50% LikesVS
50% Dislikes
Source: Economic Times
Tags: bfsiIDBI BankTax
Previous Post

EaseMyTrip introduces advanced certificate course in travel and tourism with up to 100% scholarship

Next Post

Decision on privatisation of PSBs after consultation: Govt

Prashant Dwivedi

Prashant Dwivedi

Related Posts

SBI says further financing to Adani projects to be evaluated on merit
Enterprise

SBI says further financing to Adani projects to be evaluated on merit

February 4, 2023
Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality
BFSI

Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

February 4, 2023
Our loans to Adani Group are secure: JK Bank
BFSI

Our loans to Adani Group are secure: JK Bank

February 4, 2023
Next Post
Banks to tap intelligence agencies before loans to ex-defaulters

Decision on privatisation of PSBs after consultation: Govt

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

14th NBFC & FINTECH CONCLAVE & AWARDS 2023
Subscribe to our Newsletter
johnsmith@example.com

Recent News

SBI says further financing to Adani projects to be evaluated on merit

SBI says further financing to Adani projects to be evaluated on merit

February 4, 2023
Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality

February 4, 2023
Our loans to Adani Group are secure: JK Bank

Our loans to Adani Group are secure: JK Bank

February 4, 2023
RBI response sought on PIL seeking uniform banking code for forex transactions

Banking sector remains resilient and stable: RBI

February 4, 2023
B2B Infomedia

Be To Be Infomedia Pvt. Ltd. represents the inovative platfrom to the clients and widely recognised as one of the ponier networking platfrom with the team of young, creative, dynamic & dedicated professionals.

Quick Links

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Refund Policy
  • Terms and Conditions

All News

  • BFSI
  • Edtech
  • Education
  • Enterprise
  • Financial Inclusion
  • Fintech
  • Pharma
  • Startup
  • Technology
Subscribe to our Newsletter
johnsmith@example.com
  • About Us
  • Contact Us

© 2022 b2binfomedia - Designed & Maintain by hscreativehub.com.

No Result
View All Result
  • Home
  • About Us
  • Upcoming Events
  • Fintech
  • BFSI
  • Education
  • Technology
  • Startup
  • Enterprise
  • Pharma
  • Contact Us
  • Login
  • Sign Up

© 2022 b2binfomedia - Designed & Maintain by hscreativehub.com.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In