Government spelt out its key priorities in the budget which was focused for making India a USD 5 trillion economy.
The industry body has suggested imposing a maximum customs duty of Rs 4,000 on handsets priced above Rs 20,000.
RBI has opened an indirect liquidity window to aid banks to give funds to the sector, which is facing a severe liquidity crisis.
Two per cent tax will be charged if aggregate cash withdrawal from one or more accounts exceeds Rs 1 crore.
The AISAM has been reconstituted. It is now a four- member panel, against five members earlier, said a source.
The government would also be bringing changes to seven laws related to direct taxes.
Govt has instituted a comprehensive 4R's strategy for recognition of non-performing assets (NPAs) transparently.
Investors are threatening to pull funds from India unless rules are amended so that they won’t take a tax hit.
Global and non-resident investors make investments in India via so-called association of persons (AOP) and non-corporate trusts.
India expects to rake in 24.6 trillion rupees (USD 358.97 billion) in gross tax revenue in 2019-20.