Finance Minister Nirmala Sitharaman on Friday proposed to double the limit for Tax Deduction at Source (TDS) on interest income for senior citizens to Rs 1 lakh, and also increase the threshold to Rs 6 lakh on rent from the current Rs 2.4 lakh.
The Indian government has stated that the water in the Ganga river at Triveni Sangam in Prayagraj was fit for bathing during the recently concluded Maha Kumbh, citing a new report from the Central Pollution Control Board (CPCB). The report, however, contradicts an earlier CPCB report that found high faecal coliform levels at several locations in Prayagraj during the Maha Kumbh. The government also highlighted measures taken to ensure water quality during the event, including the installation of sewage treatment plants and the use of advanced oxidation techniques to treat wastewater.
Power Grid Corporation of India's (PWGR's) Q3FY25 revenue declined 3 per cent year-on-year (Y-o-Y) to Rs 11,200 crore, with operating profit falling 7 per cent Y-o-Y to Rs 9,500 crore and margin contracting to 85 per cent from 91 per cent Y-o-Y. Other income surged 89 per cent Y-o-Y to Rs 500 crore, but regulatory income dropped 62 per cent Y-o-Y to Rs 42.5 crore.
Novelis' Q3FY25 volume stood at 904,000 tonnes (down 1 per cent Y-o-Y, down 4 per cent Q-o-Q), due to lower VAP and automotive shipments. Revenue stood at $4.1 billion (+4 per cent Y-o-Y, down 5 per cent Q-o-Q).
According to the report, Lancashire issued a statement saying they had been looking for a partner, preferably from the IPL, and now that the deal has been secured they foresee an "exciting future" for the side.
What does this mean for you? Ramalingam Kalirajan explains.
Chhaava enters the Rs 500 crore (Rs 5 billion) club, and is the biggest hit of Vicky Kaushal's career so far.
Investing is not just about setting aside money -- it's about making it work for you, says Ramalingam Kalirajan.
Having missed the target for the current financial year, Finance Minister Nirmala Sitharaman on Saturday proposed to spend Rs 11.21 lakh crore towards capital expenditure (capex) for FY26. However, the capex target is going to be missed by about 93,000 crore for the current financial year.
The Uttar Pradesh government has announced a special Rs 10,000 bonus and the 'Maha Kumbh Seva Medal' for 75,000 police personnel who served during the Maha Kumbh in Prayagraj. Chief Minister Yogi Adityanath praised the police force's efforts in managing the grand religious event, highlighting the event's economic impact and the transformation of the UP Police into a "Mitra Police." He also emphasized the state government's commitment to police welfare and infrastructure development, citing increased recruitment and budget allocation.
Steel maker JSW Steel's Q3 results, announced on January 24, 2025, after market hours, failed to meet Street expectations. The company reported a consolidated net profit attributable to the owners of Rs 717 crore in Q3FY25, reflecting a 70.3 per cent decline Y-o-Y, compared to Rs 2,415 crore in Q3FY24.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
The Ram Charan-Kiara Advani-starrer opened better than expected.
AAP national convenor Arvind Kejriwal filed his nomination for the upcoming Delhi Assembly elections from the New Delhi constituency on Wednesday, declaring net assets totaling Rs 1.73 crore. According to Kejriwal's affidavit submitted to the Election Commission (EC), his assets include Rs 2.96 lakh in bank savings and Rs 50,000 in cash. His immovable assets are worth Rs 1.7 crore. The affidavit also revealed that Kejriwal owns no house or car. Kejriwal's wife, Sunita, has total assets worth Rs 2.5 crore, including a house in Gurugram and a small car. The couple's combined net assets are worth Rs 4.23 crore. Senior AAP leader and former Delhi minister Satyendar Jain also filed his nomination, from the Shakur Basti assembly constituency, declaring a net worth of Rs 4.4 crore.
The Centre's fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit -- the gap between government's expenditure and revenue -- was at Rs 7,50,824 crore during April-October period, according to data released by the Controller General of Accounts (CGA). The deficit stood at 45 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24.
'This market for diesel starts at around Rs 6.3 lakh and goes up to Rs 7 lakh, and with Saathi we have our usual price set at Rs 6.5 lakh, so we are slightly on the lower side with a superior product.'
Subscribers of the retirement fund body EPFO may soon be able to withdraw claim amounts from their accounts through ATMs, a top official said. Union Labour Secretary Sumita Dawra has reportedly said that the labour ministry is upgrading information technology infrastructure to provide enhanced services to the Indian workforce.
Finance Minister Nirmala Sitharaman in her fifth Union Budget made five major announcements for the income tax assesse. She announced no changes in the old tax regime and confined her relief measures to the new tax regime. There have been no changes under the old tax regime.
Sources in the military establishment also said the present global scenario "necessitates a flexible and adaptive approach" to tackle defence and national security challenges.
The AAP chief stressed the need for an increase in healthcare spending, suggesting a rise to 10 percent of the GDP, along with the removal of taxes on health insurance premiums.
Modi also virtually flagged off a new train between Antagarh in Kanker district and Raipur and kickstarted the distribution of cards of the Centre's Ayushman Bharat scheme to beneficiaries in the state.
HDFC Life Insurance Company (HDFC Life) delivered a strong performance in the December quarter of the current financial year (Q3FY25), exceeding market expectations with robust earnings growth. The company reported a 13.7 per cent year-on-year (Y-o-Y) increase in net profit to Rs 414.9 crore in the quarter. The value of new business (VNB) rose 8.6 per cent Y-o-Y to Rs 930 crore, compared to Rs 856 crore in the corresponding quarter of the previous year.
The Union health ministry has been allocated Rs 99,858.56 crore in the Budget 2025-2026, an around 11 per cent hike over the Rs 89,974.12 crore in the budget (revised estimates) of 2024-2025 with the government announcing setting up daycare cancer centres at all district hospitals over the next three years.
From the 30-share blue-chip pack, IndusInd Bank, NTPC, UltraTech Cement, Sun Pharma, Axis Bank, State Bank of India, Tata Steel, Power Grid, Adani Ports and Kotak Mahindra Bank were among the major laggards. Tata Consultancy Services jumped nearly 6 per cent after the IT services company reported an 11.95 per cent jump in the December quarter net profit to Rs 12,380 crore. Tech Mahindra, HCL Tech, Infosys and Bajaj Finserv were the other big gainers.
The Bharatiya Janata Party, which claims itself as the biggest political party in the world, has a whopping cash and bank balance of Rs 7,113.80 crore against the principal opposition Congress party's Rs 857.15 crore as on March 31, 2024, according to figures provided to the Election Commission.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
In a major relief for taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced an increase in the threshold for Tax Deduction at Source (TDS) on rent from Rs2.40 lakh per annum to Rs6 lakh per annum while presenting the Union Budget 2025-26. Presenting the budget in Lok Sabha, the Finance Minister said, "The annual limit of Rs 2.40 lakh for TDS on rent is being increased to Rs 6 lakh.
LSG made a big statement by buying Rishabh Pant for a massive Rs 27 crore -- making him the costliest purchase in the history of IPL auctions.
BCCI's healthy bank balance got healthier this year with an approximate increase of Rs 4200 crore, taking the overall earnings to a whopping Rs 20,686 crore.
Bookings as well as airfares for flights to Prayagraj have jumped multi-fold as more people travel for the Maha Kumbh, with the air ticket prices rising up to 21 per cent for the Delhi-Prayagraj flights. According to an analysis by travel portal ixigo, the one-way airfare between Bhopal and Prayagraj has surged the maximum at 498 per cent to Rs 17,796 from Rs 2,977 last year.
Corporate India's struggle with subdued revenue and earnings growth persisted in the October-December quarter of 2024-25 (Q3FY25). The combined net sales (gross interest earnings for lenders) of listed companies grew in single digits for the seventh consecutive quarter, while their combined net profit rose by a single digit for the third straight quarter.
Tata Motors on Wednesday reported a 22 per cent fall in consolidated net profit to Rs 5,578 crore for the third quarter ended December 2024, impacted by s decline in revenue from its passenger and commercial vehicles divisions. The company had posted a consolidated net profit of Rs 7,145 crore in the same quarter last fiscal, Tata Motors said in a regulatory filing.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.
Uttar Pradesh Chief Minister Yogi Adityanath highlighted the successful execution of the Maha Kumbh 2025, emphasizing effective crisis management, economic benefits, and the event's role in national unity and infrastructure development. He cited the swift response to a stampede on January 29 and the extensive preparations that ensured a smooth experience for millions of pilgrims.
In a significant policy shift aimed at boosting agri-productivity and rural prosperity, Finance Minister Nirmala Sitharaman on Saturday announced six new agricultural schemes while increasing the subsidised Kisan Credit Card loan limit to Rs 5 lakh from the existing Rs 3 lakh, benefiting 7.7 crore farmers, fishermen, and dairy farmers.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
Amid a debate over 70-90-hour work week, the pre-Budget Economic Survey on Friday cited studies to state that spending over 60 hours a week on work could have adverse health effects. The survey noted that spending long hours at one's desk is detrimental to mental well-being and individuals who spend 12 or more hours (per day) at a desk have distressed or struggling levels of mental well-being.
A grooming branch network for servicing HNIs is a stepping stone for a full-fledged wealth management business.
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