Finance Minister Slapped Commodity Transaction Tax On Futures

The finance ministry will intoduce commodity transaction tax for futures. He also proposed to bring commodity bourses under the purview of service tax. One of the basic functions of futures trading is price discovery – whose efficiency is a function of intensity of the relevant information regarding the fundamentals of the commodity

M&M To Ask Govt Support For Purchasers

New Delhi: Taking a cue from developed economies such as the US and Japan where consumers are provided income-tax benefits for buying hybrid vehicles, Mahindra & Mahindra has said that it will also ask Government support to unveil its Scorpio hybrid in the country. Like in the case of its environment-friendly three-wheelers which the Government incentivised, they will also ask their support closer to the launch of Scorpio hybrid in the country. M&M''s Scorpio hybrid will be unveiled in the domestic market in the next 15-18 months. Earlier in the case of three-wheelers, the Government waived off Rs 80,000 of the vehicle cost for consumers buying it. In the US, a benefit of around $10,000 is given to consumers on income-tax and similar benefits are being extended in Japan too.