ICICI Lombard to set up IIO at Gift City orlandoecho.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orlandoecho.com Daily Mail and Mail on Sunday newspapers.
Asian Development Bank (ADB) is likely to make an initial investment of Rs 1,000 crore into the GIFT City fintech hub to equip fintech firms with skill development tools, new technology and resource mobilisation.
Abhay (47) and Pooja singh (38) live in Calcutta. Their son Archit (13) is in seventh grade. Abhay is a regional sales manager with a company involved in the farm sector, while Pooja is a home-maker. Abhay feels a middle class family needs three basic things - health, house and child’s education. He hopes the government will focus on these in the budget. Pooja hopes the budget will encourage families to buy a reasonable preventive health insurance by increasing the limit of section 80D.
As a family with a substantial home loan and a school-going kid, they would want the deduction limit for tuition fees to be put under a separate section and not be clubbed under 80C. On deduction on home loan interest, Abhay feels that the limit should be increased to Rs 4 lakh considering the amount of interest he pays on his home loan.
Govt to facilitate a world-class fintech hub at Gift city
By IANS |
Published on
Mon, Feb 1 2021 18:12 IST |
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Centre proposes tax incentives for foreign funds shifting to GIFT City. Image Source: IANS News
New Delhi, Feb 1 : Union Finance Minister Nirmala Sitharaman on Monday said that the government will facilitate setting up of a world class fintech hub in Gujarat International Finance Tec (Gift) city.
She also announced several tax incentives to the International Financial Services Centre (IFSC) at Gift city while presenting the Budget in Parliament.
These include tax holiday for capital gains from incomes of aircraft leasing companies, tax exemptions for aircraft lease rentals paid to foreign lessors, tax incentive for relocating foreign funds in the IFSC and tax exemption to investment division of foreign banks located in IFSC.
Tax incentives will attract global players: GIFT City on Budget
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Last Updated: Feb 01, 2021, 10:05 PM IST
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Synopsis
The slew of tax incentives announced for GIFT IFSC in the Union Budget has once again reaffirmed the government of India s commitment to develop GIFT IFSC as a global financial hub , Tapan Ray, Managing Director and Group CEO of GIFT City said in a release.
Agencies We thank the Government of India for continuously bringing in measures to facilitate businesses at GIFT IFSC, the release added.
AHMEDABAD: Gujarat International Finance Tec-City (GIFT City) on Monday welcomed the Union Budget, saying tax incentives announced for International Financial Services Centre (IFSC) will help to attract global players.