DIGITAL ASSETS TAX
How to file ITR-2 online with salary, capital gains and other incomes for FY 2023-24 (AY 2024-25)?
ITR-2 can be filed using the Excel or Java utilities provided by the income tax department, or online directly through the e-filing portal. This guide outlines the most effective way to file ITR-2 online, including examples of reporting salary, capital gains, and other incomes in the tax return form.
L&T bets on GenAI for sustainable progress
Larsen & Toubro, a leading engineering, procurement, and construction firm, is prioritizing generative AI for sustainable advancements, as highlighted by S N Subrahmanyan in his inaugural address as chairman at the company's 79th annual meeting on July 4.
IndiaFirst Life's IPO deferred, not shelved: Rushabh Gandhi
Gandhi said the "IPO plan has been deferred but not shelved", and will align with market conditions, which are expected to be more favourable 18 months from now. The company's earlier attempts were hindered by regulatory and market uncertainties.
US Treasury finalises new crypto tax reporting rules
The new tax reporting requirements for crypto brokers aim to improve accuracy, ensuring that crypto owners pay the tax owed on digital asset transactions. The rules will help simplify reporting and may lead to additional IRS regulations for non-custodial brokers in the future.
Have income above Rs 3 lakh? Pay zero tax if your income is up to this limit, thanks to rebate under section 87A
Income tax rebate: Under section 87A you can get a maximum tax rebate of Rs 12,500 under the old tax regime and up to Rs 25,000 under the new tax regime. However this rebate is only available if your income is upto a specified limit. Read to find out more about income tax rebate.
Go Digit shares rally 10% after reporting Q4 PAT soars 104% YoY
Go Digit General Insurance shares surged 10% to a record high of Rs 372.35 after reporting robust Q4 results. PAT soared 104% YoY to Rs 53 crore. Q4 gross written premium rose nearly 19% YoY to Rs 2,336 crore. FY net profit jumped 405% to Rs 182 crore, with gross written premium up 24.5% YoY to Rs 9,016 crore.
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AMCs, insurance stocks offering good money-making proposition: Deven Choksey
I believe that the market is going to remain positive. Investors are going to be remaining confident. Maybe these numbers are going to be forgotten after a couple of days once the ministries and the governments are formed.
Tata Motors Finance to be merged with Tata Capital
Tata Motors announced a merger of Tata Motor Finance with Tata Capital, approved by their respective boards. This aligns with Tata Motors' strategy to focus on core businesses and emerging technologies. Tata Capital will issue its equity shares to Tata Motor Finance shareholders, giving Tata Motors a 4.7% stake in the merged entity. Tata Capital, a major NBFC in India, will expand its presence in CV/PV financing, aiming to offer innovative products and digital services. The merger is subject to regulatory approvals and is expected to take 9-12 months to complete, with no adverse impact on customers or creditors.
Bonds poised for a major bull run in next five years: Maneesh Dangi
I will tell you, first from a, let us say, asset classes point of view, we talked about equity, but a few people realise that return of Modi actually is absolutely loved by bonds because it sort of assures that this small risk of high fiscal deficit and potentially very high inflation has gone.
Muthoot Finance's AUM grows 25% to Rs 89,079 cr in FY24
Muthoot Finance's consolidated assets under management surged 25% YoY to Rs. 89,079 crores in FY24, with a 22% YoY increase in profit after tax to Rs. 4,468 crores. The chairman emphasized a pivot towards non-gold loan growth and digital strategies, aiming to boost subsidiaries' contribution and expand into diverse financial sectors.
Muthoot Finance shares rally 4% post Q4 results. Should you invest?
Muthoot Finance Share Price: Muthoot Finance shares surged by 4.3% on Friday on the BSE, reaching a day's high of Rs 1,745. This uptick followed the company's announcement of a profit after tax of Rs 1,056 crore, marking a 17% year-on-year (YoY) increase compared to Rs 903 crore reported for the corresponding period last year.
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Expect significant growth from insurance income this year: City Union Bank MD
City Union Bank, led by N Kamakodi, aims for significant growth in insurance income to Rs 55 crore in FY'24, with a PAT of Rs 1,016 crore and NIM within guidance levels.
Indian crypto investors take illegal routes to avoid tax burdern
Peer-to-peer trading through escrow services on banned crypto exchanges has increased five times during weeks of high trading volume in March and April, according to a study conducted by Delhi-based policy think tank Esya Centre.
SEBI considers regulatory role in crypto trading, diverging from RBI's approach. Here's what experts think
In a significant development within India’s crypto landscape, the Securities and Exchange Board of India (SEBI) has recommended several regulators oversee crypto trade nationwide.
NCLT sets the ball rolling on merger of Reliance's arm Viacom18 and Star India
The merger scheme has two stages: the transfer of Viacom18's TV and streaming assets to Digital18 and the demerger and vesting of these assets from Digital18 to Star India. As consideration for the scheme, Viacom18 will transfer streaming platform JioCinema to Digital18, which will pay the company a consideration of Rs 24,186 crore through an allotment of 24.18 billion fully paid-up shares of Rs 10 each.
Sebi suggests local regulators oversee crypto trading
Both sets of documents, which have been seen by Reuters, have been submitted to a government panel which is tasked with formulating policy for the finance ministry to consider. SEBI's stance has not previously been reported.
Financial Intelligence Unit clears Binance and Kucoin to be Virtual Asset Service Providers
ET was the first to report in the April 18 edition that Binance, the world’s largest cryptocurrency exchange that was banned by the government in January, is poised to return to India by paying a penalty of about $2 million.
Expecting double digit disbursement and loan book growth this year: Tribhuwan Adhikari, LIC Housing Finance
I would expect this year that we would be showing a good disbursement growth in the double digits, as well as the loan book growth of double digit.
Indegene IPO booked over 10x so far on Day 3. Check subscription, GMP and other details
Indegene IPO GMP: On the final day of the initial public offer (IPO), Indegene was booked a little over 10 times so far on Wednesday, the last day of the bidding process.
27 equity mutual funds deliver over 15% return in five years
The other schemes in the list gave returns ranging between 6.21%-14.89%. Despite offering double digit returns some schemes could not feature in the above list as they offered less than 15% return in the said period.
Indegene IPO booked over 4x so far on Day 2. Check subscription, GMP and other details
Indegene's IPO oversubscribed 4 times on the second day, led by non-institutional investors; QIB portion least subscribed.
Indegene IPO fully subscribed on Day 1. Check subscription, GMP and other details
On the first day of bidding, the initial public offering (IPO) of Indegene Ltd received a steady response, primarily fueled by strong interest from non-institutional investors (NII).
Web3 sector seeks regulatory clarity on crypto trading
The Bharat Web3 Association (BWA) proposed that the government either form a panel to discuss model legislation in consultation with the industry or release a discussion paper on the subject within the first 100 days of forming the new government
Digitise as many new asset classes as possible to boost capital formation
Digitization, according to me, will play a pivotal role in capital formation. We have already seen the impact of it in our capital markets.
No penal interest on TDS for crypto investors who failed to file the TDS return by May 31, 2023: CBDT
Virtual digital assets tax: Purchaser of virtual digital assets (VDA) like Bitcoin (BTC), Ethereum (ETH), Solana (Sol), Algorand (Algo), Shiba Inu (SHIB) etc should deduct TDS before making payment to any resident. Such TDS deducted must be reported using Form 26QE within a specified deadline. Failure to report it will attract penalties.
For crypto players, interim budget falls short on regulatory, tax issues
During the Union budget, finance minister Nirmala Sitharaman did not provide any clarity for the crypto world regarding regulations. This was after the newly-formed advocacy body Bharat Web3 Association had sought regulatory tightening of offshore exchanges and highlighted the demand for rationalisation of taxes.
Budget 2024: Finding the sweet spot for VDA tax
The Indian government introduced taxation on VDAs during the Union Budget 2022. It brought much-needed clarity to investors and the industry alike. For the first time, the government defined VDAs, introduced a TDS on the sale and transfer of VDAs, and specified how and at what rate the gains from VDA transactions would be taxed.
SIPs in 10 equity funds offer single-digit returns in three years
Equity mutual fund investors are extremely happy with the performance of their schemes in the last one year. However, SIP investors in 10 equity funds may not be very happy.
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