India gets 3rd virus case; New tax proposals may hurt MSMEs : News Reel: Business Today
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India gets 3rd virus case; New tax proposals may hurt MSMEs

BusinessToday.In | February 3, 2020

Coronavirus, which was limited within the boundaries of Wuhan China, has now spread to more than 24 countries with more than 360 deaths confirmed in China. India has recently reported its third case of novel Coronavirus today. Meanwhile, the government has brought back more than 600 Indians by air from the Chinese city which is the ground zero of the outbreak;  Buried in the Finance Bill -- the document that lists changes in tax laws - this year, is a proposal that might hit businesses, especially exporters, hard. Budget 2020 proposes a seller should collect 0.1 per cent as tax collected at source (TCS) from a buyer on sale of goods worth more than Rs 50 lakh in a year, if the sellers own sales exceeds Rs 10 crore during the year; Life Insurance Corporation (LIC) unions have reportedly decided to stage a series of protests against the government's decision to sell a part of its holding in the life insurer by initial public offering and more news on News Blast.

Also read: LIC IPO: 5 things to know about the upcoming share sale 

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