FINANCE INCOME
You won’t get any income tax refund unless you verify your ITR; here’s how to verify ITR online, offline
Income tax return verification: You filed income tax return will be cancelled if you don't verify it within 30 days of filing of ITR. There are multiple ways to verify an filed ITR including a offline process. Read below to find out various ways of verifying a income tax return (ITR) online and offline.
ITR-1 (Sahaj) can be filed if your income is below Rs 50 lakh; Check if you are eligible or not
ITR filing: As per CA Shreya Jaiswal you can file ITR-1 only if your total income does not exceed Rs 50 lakh during FY 2023-24 (AY 2024-25) and provided you have satisfied certain other conditions as prescribed. However if you even have Re 1 of capital gains or loss you won't be able to file ITR-1
Budget 2024: Savings account interest up to Rs 25,000 may get tax exempt
The government is examining a proposal to increase the tax-deductible amount on savings account interest to Rs 25,000. Current limits are Rs 10,000 (Section 80TTA), Rs 50,000 for seniors (Section 80TTB), under the old tax regime. Banks have been advocating for incentives on deposits due to rising concerns over the increasing credit-deposit ratio.
Bajaj Housing Finance launches Sambhav Home Loans for first-time home buyers
Borrowers will have attractive interest rates with affordable EMIs and the option to choose a repayment tenor of up to 20 years. With this, Bajaj Housing Finance will offer a full suit of offerings in the housing finance sector covering all customer categories.
Retirement income: Why we need both, an income stream and a corpus
A monthly allowance will keep it simple and straightforward. The children and parents can agree on the amount and the former can simply credit it like a monthly pension or income. The dependent parent, spouse, sibling or relative is spared the discomfort of asking and enjoys the discretion to spend and save.PSM ID:
Income tax Budget 2024 expectations: 10 ways the finance minister can ease income tax and financial burden of senior citizens
Income tax Budget 2024 expectations: A notable percentage of taxpayers in India are senior citizens since they receive income, frequently through passive means. ET Wealth Online interviewed three specialists to discuss senior citizens' expectations for the forthcoming Union Budget 2024.
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Income tax relief: Budget 2024 may increase standard deduction under new income tax regime
Will Budget 2024 increase standard deduction: The Finance Minister in the 2023 Budget included a standard deduction of Rs 50,000 for salaried taxpayers and individuals getting pensions in the new tax regime. This standard deduction was made the automatic choice, unless taxpayers chose not to take it.
Top post office schemes: These 9 small savings schemes offer above 7% interest rate
Post office schemes interest rates: The government has kept the interest rates on small savings plans unchanged for the quarter ending June 30, 2024. Here are nine post office schemes that offer more than 7% interest.
Aadhar Housing Finance aims 20% AUM growth in FY25
Aadhar, 76% owned by Blackstone Group Company BCP Topco VII Pte, has a robust asset quality with gross non-performing assets being at just a tad over 1% at the end of March. That compares with 1.16% a year ago.
Aadhar Housing Finance Q4 Results: Net profit jumps 43% YoY to Rs 202 crore
Its total income for the quarter stood at Rs 673 crore, 25% higher than what it was for the same period last year. Aadhar, a leading lender to the economically weaker section, saw its assets under management grow 23% year-on-year to Rs 21121 crore at the end of March. Its average loan size is Rs 10 lakh.
Rich nations met $100 bn climate finance goal two years late: OECD
Wealthy countries finally met the $100 billion annual climate aid target for poorer nations in 2022, two years late, as per the OECD. The delay has damaged trust in climate negotiations as nations aim for a more ambitious goal by November. However, the $100 billion falls short of the estimated $2.4 trillion needed annually by developing nations for renewable energy and climate adaptation.
Dividend income fuels surge in personal income tax: Motilal Oswal report
The transition from corporation-based dividend taxes to personal income taxes has been a major driver of the increased PIT in recent years. This shift has not only changed the tax dynamics but also underscored the substantial contribution of high-income earners to the tax pool through their dividend receipts.
G7 will try to use frozen Russian assets to help Ukraine
The G7 froze some $300 billion of Russian assets shortly after Moscow invaded its neighbour in February 2022. "We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine," the draft statement said.
Manappuram Finance Q4 Results: Profit beats Street estimates on healthy loan growth
Indian gold-loan provider Manappuram Finance reported a better-than-expected fourth-quarter profit on Friday, helped by strong loan growth at both its gold and non-gold segments.
Aadhar Housing Finance makes a flat debut
"Although the company made a debut with a flat opening, its wide geographical distribution network and strong fundamentals offer good opportunity for the long-term as its target customers are low-income groups from rural and semi-urban areas," said Raj Gaikar, analyst, Samco Securities. "The housing finance credit share of rural and semi-urban locations is rising continuously, giving housing finance companies (HFC) an opportunity to expand their operations."
LIC Housing Finance Q4 Results: Net profit falls over 7% YoY to Rs 1,091 crore
The net profit in the year-ago period was Rs 1,180 crore. The company's board recommended a 450% dividend for FY24. In other words, shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.
Aadhar Housing Finance shares see a tepid debut. Should you exit?
Contrary to the debut of TBO Tek, the listing of Aadhar Housing Finance was flat, falling short of expectations. The grey market trends signalled a gain of around 15-20% for investors.
In AUM term, we are the largest low-income HFC: Rishi Anand, Aadhar Housing Finance
Rishi Anand, MD & CEO of Aadhar Housing Finance, discusses the IPO, Blackstone's stake reduction, SEBI approval, high AUM, improving asset quality, significant housing unit shortfall, stable NIMs, debt levels, mortgage penetration challenges, and the strategic distribution strategy. Anand says: "We are covering about 11,000 PIN codes out of the 18,000 PIN codes in the states we are available, spread across the length and breadth of the country."
Aadhar Housing Finance stock makes D-Street debut on flat note
Aadhar Housing Finance debuts on BSE at Rs 314.3 post a successful IPO. Leading in low-income housing finance, it has highest AUM, faces market volatility challenges, and raised funds for future lending needs through fresh equity issue and OFS post DHFL Vysya merger.
Aadhar Housing Finance stock to list on Wednesday. Here's what GMP suggests
Aadhar Housing Finance IPO consisted of fresh equity issue worth up to Rs 1,000 crore and OFS of up to Rs 2,000 crore. It was booked nearly 26 times at close. Its GMP indicates a listing gain of around 15%.
Repco Home Finance Q4 Results: Profit jumps 32% YoY to Rs 82 crore
Total income for the quarter stood at Rs 397 crore against Rs 344 crore while net interest income was 11% higher at Rs 172 crore against Rs 155 crore.
New functionality in AIS rolled out for taxpayers
CBDT introduces AIS feature for real-time taxpayer feedback on transactions, enhancing data accuracy, compliance, and taxpayer services, covering tax deductions and financial data sources.
This banking stock gave 22% returns last year; is Equitas Small Finance Bank stock a good buy now?
Equitas Small Finance Bank’s 2022-23 annual report expects a Rs.22 lakh crore market for small business lending, backed by residential property. A recent Centrum Broking report states that the company is poised to double its AUM within the next three years, supported by its improving deposit franchise and distinct client segments. Its comfortable valuations at 1.4 times based on 2025-26 P/ABV (price to adjusted book value) presents an appealing opportunity for entry, adds the Centrum report. Should you invest in Equitas Small Finance Bank now?
Aadhar Housing Finance IPO allotment to be finalised on Monday: Here's how you can check status
In the unlisted market, Aadhar Housing Finance's shares are trading with a premium of Rs 70 against the issue price of Rs 315, translating to a listing gain of 22%. The company raised nearly Rs 899 crore from anchor investors ahead of the IPO.
Suryoday Small Finance Bank Q4 Results: Net profit soars 56% YoY to Rs 61 crore
The bank's net interest margin for the quarter was 10.1% against 10.4% in the same quarter last year, although it rose sequentially from 9.8%. Operating profit was 25.5% higher at Rs 128 crore against Rs 102 crore. Provisions and contingencies were a ltad lower at Rs 48 crore against Rs 51.5 crore.
Aadhar Housing Finance IPO fully booked on Day 2. Check subscription, GMP and other details
The IPO comprises fresh equity issue of up to Rs 1,000 crore and offer for sale (OFS) of up to Rs 2,000 crore by existing investors. Under the OFS, BCP Topco VII will offload shares.
ESAF Small Finance Bank Q4 Results: Profit slips 57% to Rs 43 crore
ESAF Small Finance Bank on Thursday reported 57 per cent decline in net profit at Rs 43.4 crore for the fourth quarter ended March 2024 on account higher provisions. The Kerala-based bank had posted a net profit of Rs 101.4 crore for the year-ago period.
Muthoot Finance and Manappuram Finance shares tank up to 9% after RBI advisory
Muthoot Finance and Manappuram Finance shares dropped 8-9% on BSE following an RBI advisory on cash disbursal of loans. The RBI instructed NBFCs to comply with the Income Tax Act, limiting cash disbursement to Rs 20,000.
RBI asks NBFCs to stick to loan cash payout limit of Rs 20,000
The Reserve Bank of India has instructed non-bank finance companies (NBFCs) to strictly enforce a 20,000 rupees ($240) cash loan limit to discourage cash transactions, citing Section 269SS of the Income Tax Act. The directive follows actions against IIFL Finance for violating loan disbursement and collection rules, prompting heightened regulatory scrutiny
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