INCOME RISES
Budget 2024 should hike basic income tax exemption limit to Rs 5 lakh in both old and new tax regimes: Deloitte
Finance Minister Nirmala Sitharaman is likely to present Union Budget 2024 this month. Salaried taxpayers are eagerly waiting for some much-needed tax benefits from the upcoming Budget. According to Deloitte, salaried people want Finance Minister to revamp tax slab benefits, adjust HRA rates, incentivise EV sales, and promote affordable housing in Budget.
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.
US inflation cools in May, boosting hopes of Fed rate cut
May's stable inflation, influenced by service costs and goods prices, sets the stage for potential Federal Reserve interest rate changes. The report highlights slight consumer spending growth and hints at the Fed's aim for a controlled economic slowdown through core inflation moderation.
Budget 2024 Section 80D Exemption: Why govt should increase Section 80D tax exemption limit for health insurance under old tax regime
Budget 2024 Section 80D Exemption: Taxpayers who have opted for the old tax regime are hoping for an increase in the limit under section 80D in the upcoming July 2024 budget, considering the significant rise in healthcare costs.
India's inflation also 'K-shaped'; rural folk more hurt by price-rise: HSBC
The government lent a helping hand by cutting several fuel prices but many of the fuels like petrol, diesel and LPG are not commonly used in rural areas, like they are in urban centres, leading to rural inflation being much higher than urban, it said.
April-June direct tax mopup rises 21% to Rs 4.62 lakh cr
The Indian government's direct tax collection increased by 20.99% YoY to ₹4.62 lakh crore from April 1-June 17, boosted by a 27.34% increase in advance tax collection. The gross direct tax collection was ₹5.15 lakh crore, up 22.19% from the previous year. The income tax department issued refunds totaling ₹53,322 crore, 33.70% higher than the previous year.
- Go To Page 1
India will need to build 100 million homes this decade amid rising household incomes
India's property market has heated up since the pandemic, with 2023 being the best year for home sales in at least 15 years. With about 70 mn Indian households turning eligible for home ownership over the next 10 years, there would be a requirement for as many as 100 million new houses.
Global demand revival: How is India poised?
As the global demand sees some revival, India must get its act together to make the most out of it.
Sharp drop in provisions helped RBI transfer bumper dividend to RBI
The Reserve Bank of India's income rose 15% last fiscal due to higher interest income from bond holdings and a sharp drop in provisions transferred to the Contingency Fund, enabling a record dividend payment to the central government.
Brigade Enterprises shares rise 9%, hit 52-week high after Q4 profit jumps nearly 3-fold
Brigade Enterprises' shares surged 9% to a 52-week high after reporting a three-fold jump in net profit. Managing Director Pavitra Shankar expressed confidence in sustained performance with ongoing and upcoming projects in Bengaluru, Chennai, and Hyderabad.
GIC Re Q4 Results: Net profit rises 3% to Rs 2,642 crore
GIC Re on Tuesday posted a 3 per cent increase in net profit to Rs 2,642 crore for the fourth quarter ended March 2024 compared to Rs 2,564 crore in the same quarter a year earlier.
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.
DCM Shriram Industries Q4 Results: Profit rises 23% to Rs 39 crore
DCM Shriram Industries reported a 23% increase in consolidated net profit to Rs 38.64 crore for Q4 of the 2023-24 fiscal, driven by lower expenses.
Hudco Q4 Results:Net profit rises 9% YoY to Rs 700 crore
The company's total income for the quarter was 18% higher at Rs 2,194 crore against Rs 1,862 crore. Its board recommended a final dividend of Rs 2.65 per equity share on the face value of Rs10 each for the financial year 2023-24.
Hindustan Copper Q4 Results: Net profit rises 6% YoY to Rs 124 crore
State-owned Hindustan Copper Ltd on Friday reported a 6 per cent drop in consolidated net profit to Rs 124.33 crore for the March quarter. The company had posted a consolidated net profit of Rs 132.31 crore in the year-ago period.
How to save Rs 1 crore with a monthly salary of Rs 25,000
Building a Rs 1 crore corpus with a Rs 25,000 salary requires discipline and time. Experts recommend consistent investment in equity mutual funds via SIPs for long-term wealth creation. Starting early and increasing SIP contributions can accelerate wealth creation significantly if you know the right tools. Further, you must consider factors like risk tolerance and investment tenure as well. ET Wealth Online explains how you can become a crorepati even with a salary of Rs 25,000 per month.
Oil India sees 13% rise in March quarter profit on high prices
Oil India reported a 13% profit increase to ₹2,029 crore in Q4 2023-24 fueled by high oil prices. Revenue from operations rose 2% to ₹5,757 crore. Dividend and interest income doubled to ₹785 crore from ₹388 crore.
Global Health Q4 Results: Net profit rises 25% to Rs 127 crore
For the year ended on March 31, 2024, the company said its net profit increased to Rs 478 crore as against Rs 326 crore in FY23.
DLF rental arm DCCDL's office rental income rises 7% to Rs 3,460 cr in FY24
DLF's joint venture with DCCDL saw a 7% rise in rental income from office buildings to Rs 3,460 crore in the last fiscal, driven by rent appreciation and asset portfolio expansion. The rental business, holding a majority stake, demonstrated healthy occupancy levels and low vacancies. With sustained growth in rentals and service income, DCCDL reported a 9% increase in consolidated revenue and an 18% rise in net profit.
ZEE Entertainment shares rally 5% after Q4 results. Should you buy, sell or hold?
ZEE Share Price: ZEEL swung back to profit in March quarter against loss a year ago. Its total income in the reporting quarter, too, increased 3% YoY to Rs 2,185 core. Goldman Sachs sees partial recovery in revenues as a positive sign.
Union Bank Net Rises 19% on Big IT Refund, Interest Income
The bank received ₹497 crore as income tax refund in the quarter ending March as against ₹8 crore in the comparable period, which helped to push up profits for the fourth quarter.
Non-life insurance companies post 13% rise in premium collection at Rs 2.89 lakh cr in FY24
In the fiscal year 2023-24, 42 general insurance companies collectively earned a premium income of Rs 2,89,738 crore, marking a 13% increase from the previous year's Rs 2,56,894 crore, as reported by the General Insurance Council. Among these, 35 general insurance firms saw a 14% rise in premium income to Rs 2,45,433 crore from Rs 2,14,833 crore in the preceding year. Additionally, five standalone health insurers witnessed a 26% growth in premium income, reaching Rs 33,116 crore compared to Rs 26,244 crore in the previous year.
Bank of India Q4 Results: Net profit rises 7% YoY to Rs 1,439 crore
State-owned Bank of India (BoI) on Friday posted a 7 per cent rise in net profit at Rs 1,439 crore for the March quarter. The bank had earned a net profit of Rs 1,350 crore in the same quarter a year ago
Care Ratings Q4 Results: Profit rises 35% to Rs 34.8 crore
Care Ratings Q4 Results: Care Ratings on Friday reported a 35 per cent jump in its standalone net profit at Rs 34.8 crore in the fourth quarter ended March 31, 2024. The domestic rating agency had a profit after tax of Rs 25.9 crore in the January-March quarter of the 2022-23 fiscal.
Escorts Kubota Q4 Results: Net profit rises on lower costs
The domestic tractor sector saw a decline in volumes in the quarter, as agricultural income was hit by patchy monsoon rains and falling reservoir levels, analysts said.
FMCG, auto companies break the jinx as rural growth rises above urban
Rural FMCG demand outpaced urban markets in Jan-Mar 2024. Car companies reported higher rural sales. NielsenIQ noted 7.6% rural growth. Factors include robust rabi crop and government measures. Maruti Suzuki saw record rural sales.
Growing online enrolments, rising tuition fee to drive revenue for education sector: Ind-Ra
India Ratings and Research (Ind-Ra) projects a positive outlook for the education sector in the financial year 2024-25, citing factors such as increasing enrolments and rising tuition fees per student. The agency anticipates that the growing middle-class income and demand for quality education will drive higher spending on infrastructure and facilities. Digitalization, distance learning, and e-learning content are expected to play a significant role in the sector's growth.
Rising heatwave may hit farm output, push up inflation: Experts
Economists warn of heatwave's impact on farm output and inflation, raising prices. Perishable foods, like vegetables, key contributors to inflation. Concerns about logistical challenges, kharif season, and reservoir levels amid weather extremes.
IREDA Q4 PAT up 33% YoY with rise in income
The finance cost of the non-banking financial company rose in tandem with the revenue to ₹847 crore. Loan disbursement in the quarter was ₹12,869.35 crore up around 14% from the corresponding period last year.
Load More
