To get same tax treatment as FIIs; rules on search & seizure and consent settlement cleared
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
If not for Palaniswami, it is hard to guess if the AIADMK would have been able to garner 33.3 per cent vote share as against the DMK's 37.7 per cent. AIADMK won 66 seats, its allies Pattali Makkal Katchi and Bharatiya Janata Party five and four seats respectively and proved yet again that the western region was its fortress.
Housing finance major HDFC on Monday reported a 16 per cent growth in standalone net profit to Rs 3,700 crore for the January-March quarter, helped by record loan sales on the back of benign interest rates and the resultant fall in cost of funds along with the near-total repayments that culled provisions and credit costs. For the full year, the company, which is working on a reverse merger with its banking subsidiary, has booked a net profit of Rs 13,742 crore, up from Rs 12,027 crore in FY21, vice-chairman and chief executive Keki Mistry said on Monday in an earnings call with analysts. On a consolidated basis, net profit for the quarter surged 21.6 per cent to Rs 6,892 crore on-year and for the full year it jumped 21 per cent to Rs 22,595 crore, Mistry said and guided towards better days.
The Centre has to bear the maximum burden of borrowing NSSF loans to the tune of Rs 1 lakh crore.
Nearly 28 per cent of urban Indians are planning to spend on gold in the next three months, signalling a renewed appetite for the yellow metal amid the waning effects of second wave of COVID-19, as per a survey. The gems and jewellery industry, which was impacted by the COVID-induced disruptions in 2020, had shown signs of recovery in January-March this year. However, the second wave of the pandemic put a halt to it. Businesses are beginning to look up as state governments are slowly easing restrictions on movements, and organised retailers are hoping consumer demand to show positive sentiment during the festive season this year.
The average fall in 15 most-invested stocks by equity MFs was 5.7 per cent. Chandan Kishore Kant reports
'If anybody defaults on something which is due for today, they have to disclose it tomorrow.' 'The accumulation of NPAs is due to asymmetry in information.' 'The investor should have real-time information.'
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
The Calcutta high court on Tuesday directed the Central Bureau of Investigation to file an affidavit by Thursday stating whether the central investigating agency had been handed over investigation by other states into the multi-crore chit fund scam that affected lakhs of investors.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
Promoters of world's cheapest smartphone refund customers' money, close fresh bookings
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
Keep working on your portfolio according to market conditions. But don't do it too often
The number of poor people in India fell by about 415 million between 2005-06 and 2019-21, a "historic change" and a demonstration that the Sustainable Development Goal target of reducing at least by half the proportion of men, women and children of all ages living in poverty by 2030 is possible to achieve, even at a large scale, according to the UN.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The flows may stem and redemptions pressure increase following the market meltdown of Monday amid mounting cases of coronavirus infection globally.
'Without reviving employment, consumer confidence will not go up.'
'We are all in a tizzy about NBFCs in the aftermath of the IL&FS default.' 'We tend to jump to the notion that an NBFC is like a bank. But banks make a promise that deposits are liquid and have an assured return.' 'NBFCs make no such promises,' points out Ajay Shah.
In view of popular demand, the government will on Tuesday relaunch saving instrument Kisan Vikas Patra (KVP), wherein the invested money will get doubled in 8 years and 4 months.
'Investors need to find out how the FMP's assets are distributed and ensure the investments are in high-quality names.'
The restructuring, which will involve nine listed companies, including TVS Motor, Sundaram Clayton, Sundram Fasteners, TVS Electronics and TVS Srichakra, among others, will give each family group complete ownership of businesses they manage while scrapping the holding company.
The central agency is probing Kapoor's role in connection with the disbursal of a loan to a corporate entity and the subsequent alleged kickbacks that were reportedly received in his wife's accounts.
The bank will be responsible for taking the mixed gold to mint and getting it purified.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
In a statement, the CBDT, which is the apex policy making body for direct tax policies, said it has never asked IRS Association or these officers to prepare such a report and no permission was sought by them before making the report public. 'It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report.
Deposit certificates will also be exempt from capital gains tax.
Reliance Jio and Bharti Airtel have enough capacity to absorb over 113.9 million Vodafone Idea subscribers who are on 4G if Vodafone Idea has to shut operations.
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
'My father was asking me what an IPO is. He has no clue and he has never been an investor.' 'My mother, who was the one to ring the bell, has been an investor in Policybazaar for the past 6-7 years and I would say she has made good returns.'
The finance ministry and several agencies under it such as the Securities and Exchange Board of India (Sebi) and the Enforcement Directorate (ED), which are investigating the affairs of Sahara India Parivar, are worried about its exposure to National Spot Exchange Ltd (NSEL) products.
The Bureau of Indian Standards has certified 33 hallmarking centres in the country to act as collection and purity testing centres for the gold monetisation scheme.
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
Fixed maturity plans are definitely a better investment option than bank fixed deposits. Here's why...
Reliance Mutual Fund and UTI Mutual Fund have applied to Sebi to start schemes that will collect money directly from investors and buy units in Gold Exchange Traded Funds. Though at a slightly high cost, these schemes take away the hassle of maintaining demat and trading accounts with brokers. "These two factors were the biggest hindrance for gold ETFs," said Devendra Nevgi, ex-CIO, Quantum Asset Management. Nevgi started the gold ETF at the fund house.
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