Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Investors in SIPs should be especially careful because the taxation is done according to the first-in-first-out basis
India's premier bourse Bombay Stock Exchange is awaiting market regulator Sebi's nod for offloading 51 per cent stake, in which the likes of Nasdaq and NYSE have shown interest.
These tax-free bonds were issued in 2003 to bail out Unit Trust of India's flagship scheme US-64, which got into trouble because of lack of transparency in its portfolio composition and investment strategy. Now these investors will finally get their due. And if you are among those, who have still not decided on what should be done with this windfall, financial advisors say the money should be channelled in instruments depending upon your age and risk profile.
A financial adviser can provide invaluable assistance in helping you navigate the very complex world of investment. But do you really need one?
Systematic investment plans not only generate good returns by tiding over short-term volatility, they can also be a good tax-saving instrument.
Missing the deadline for filing Income Tax returns can lead to consequences.
Larger firms feel that the smaller players have muddied the waters for the IBC process, leading to excessive regulation of resolution Professionals.
Goals like buying a car or travelling abroad are short-term goals whereas purchasing a house or retirement planning are medium and long-term goals.
Dhirendra Singh on Tuesday assumed charge as the new divestment secretary, following Monday's high level bureaucratic reshuffle.
Outward remittances under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS) surged by 50.64 per cent to $9.1 billion in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), driven by healthy growth across segments due to a revision in the timeline of tax collected at source under the LRS scheme and normalisation in international travel. Major drivers include equity and debt investments, deposits, and the international travel segment, among others. According to the latest RBI data, the amount remitted under LRS stood at $9.1 billion in Q1FY24, compared with $6.05 billion in the same quarter last year.
The Airports Authority of India would enter the capital market to raise resources for funding the modernisation of about 30 airports across the country, for which an estimated Rs 40,000 crore (Rs 400 billion) is required.
'Some risks to this market rally include inflation, erratic weather conditions, rising crude prices, slowing global growth and the resultant impact on domestic exports, escalation in geopolitical tensions.'
UBS Wealth Management Americas, Bank of America's Merrill Lynch and Morgan Stanley all employ several retired Olympic athletes.
Ramkrishna is in the news after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to the managing director (MD).
Hinduja Group's business process management entity, Hinduja Global Solutions Limited (HGS) said on Wednesday that it has entered into definitive agreements to divest its Healthcare Services business to funds affiliated with Baring Private Equity Asia (BPEA), at an enterprise value of $1.2 bilion. The deal is subject to closing adjustments, and is expected to complete within 90 days, subject to shareholder and other regulatory approvals. "The cash that will come in as a result of this transaction will be deployed to growing the business as well as looking at buying some capabilities...where capabilities are important for being able to do a good job of customer experience transformation.
At an aggregate level, the late ace investor's portfolio that was valued at Rs 32,445 crore as on March 31, 2023 is now worth Rs 35,979 crore.
Society member and one of the donor members of IIM-A Prafull Anubhai told reporters on Wednesday that they were upset by the 'explicit threats and unwarranted remarks' made by the government representatives.
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
Some important investment options like fixed annuity, bonds, life insurance and equity among others can help you in fulfilling your goal. The details...
Adani group firm Adani Ports & SEZ paid Rs 1,500 crore loan and promised to repay more as the embattled conglomerate mapped a comeback strategy after a sellout triggered by a damning report by US-based Hindenburg Research. Adani Ports and SEZ paid SBI Mutual Funds' due amount of Rs 1,500 crore on Monday and will also pay another Rs 1,000 crore of commercial papers due in March (as per the payment scheme), a company spokesperson said. "This part prepayment is from the existing cash balance and funds generated from the business operations," the spokesperson said.
The company has a production facility in Sri City in Andhra Pradesh.
The Italian will take charge of his last match in the second leg of the Serie A relegation playoff between Bologna and Parma.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
'Comparing the rates of interest with PSU banks, the three- and five-year time deposit rates of the post office are more favourable.'
Portfolio management services (PMS), catering to higher networth individuals (HNIs), are facing tough competition from emerging alternative investment funds (AIFs), evident from their dwindling client base. In May, the number of clients for the industry stood at 125,390, down 20,528 in two months, shows data from the Securities and Exchange Board of India (Sebi). "PMS managers also have a high active ratio, which means their portfolios are quite differently positioned and more actively managed, compared to the benchmark, which is also a highlight for long-term investors.
In a major bureaucratic reshuffle, the government on Monday appointed Dhirender Singh as the new divestment secretary and K K Jaiswal as the new IT secretary.
Besides the dairy business, the transaction also involves sale of 100 per cent shareholding in Sunfresh Agro Industries, a step-downsubsidiary of Prabhat, via a share purchase agreement, the company said.
This included Rs 1732.15 crore on advertisements in the print media (from June 1, 2014, to December 7, 2017) and Rs 2079.87 crore in the electronic media (from June 1, 2014, to March 31, 2018). A sum of Rs 531.24 crore was spent on outdoor publicity (June 2014 to January 2018), it said.
The agency has booked Sisodia, a 1992-batch IRS officer Sukesh Kumar Jain who was then secretary of vigilance, retired CISF DIG Rakesh Kumar Sinha who was working as special advisor to Chief Minister Arvind Kejriwal and joint director in the Feedback Unit, they said.
Vasundhara Raje may have had her faults but she is an unconventional and brave leader who deserves better, observes Aditi Phadnis.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
'To ensure you remain with the better performers, you need to consistently monitor your MF portfolios and weed out the non-performers, even if they are from a star fund manager or a fund house with a sound record.'
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
Remember, pension from EPS will be taxable at slab rate, reducing the post-tax income for people who remain in the higher tax brackets after retirement.
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