Govt increased surcharge from 15 per cent to 25 per cent on taxable income between Rs 2 crore and Rs 5 crore.

Surcharge on long and short term capital gains from transfer of equity shares has been withdrawn, said FM Nirmala Sitharaman.

Since the intention was to support the small startup, the turnover limit of Rs 25 crore was considered reasonable, CBDT said.

The details of the report, however, could not be known immediately.

To avoid penal actions, ensure that you file your income tax return on or before the August 31, 2019 deadline.

As many salaried taxpayers got their Form 16 late, ITR deadline was extended by a month to August 31.

Analysts and traders say this has been a major reason for foreign investors being net sellers from Indian equity markets.

Thakur said 46,13,91,168 Permanent Account Numbers (PANs) have been allotted as on July 30, 2019.

RBI has opened an indirect liquidity window to aid banks to give funds to the sector, which is facing a severe liquidity crisis.

(The government) has not provided specific proposals to boost exports, said PwC's Sandeep Ladda.