Five taxes to impact savings, investment decisions: Patel
Corporate tax rate, dividend distribution tax rate, marginal tax on dividend income above 10 lakhs, securities transaction tax and capital gains tax will definitely have impact savings and investment decisions
India has five taxes on capital that will "obviously" impact investment and savings decisions, says RBI Governor Urjit Patel today.
The taxation on capital in India is from several sources -- these are corporate tax rate, dividend distribution tax rate, marginal tax on dividend income above 10 lakhs, securities transaction tax and capital gains tax. These taxes will definitely have impact savings and investment decisions.
"I think that at the marginal rate you have corporate tax rate, dividend distribution tax rate, marginal tax on dividend income above 10 lakhs, securities transaction tax and capital gains tax, ”
Patel said.
During the policy announcement, Patel said that increased focus on the rural economy in the Union Budget 2018 a welcome step.
Keeping in mind the present macroeconomic scenario, during the bi-monthly monetary policy meeting today, RBI chief said that he kept unchanged repo rate, at which the apex bank lends money to banks.
However, the apex bank expressed concern over increasing inflation and fiscal condition.
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