India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
Tax Guru Anil Rego answers your personal income tax queries
While political experts claim that the Modi Magic is missing in the 2024 general election, the common people in the street -- at least those in the crowd on Thursday -- vow that they will vote for Modi and the candidate who contests the election doesn't matter much.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
The hapless voters fervently hope that they get to make a more equal choice in the next election and political discourse in the country becomes positive and more enlightened. One wonders if the masses would become more politically aware to discern good intent and performance from gimmickry, notes Biswajit Dasgupta.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
A simple checklist at the beginning of the new financial year
'As regard to specific reference to high net worth individual, the moment we finish the 75th anniversary of India's independence, we shall review and take a call,' Finance Minister Nirmala Sitharaman said.
'The China opportunity, the digital opportunity and the end of geography opportunity are the three pieces of luck India got due to Covid.'
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Based on the holding period, the profit you make is liable to short-term or long-term capital gains tax, experts tell Tinesh Bhasin.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
Many exemptions make little sense, such as a monthly exemption of Rs 100 for college education and Rs 300 for hostel fees.
'Putin is just flexing his muscles. He is not going to do anything. He is not that crazy.'
Resist the temptation to react to every move of the market and remain disciplined with your investments till you reach your financial goal.
The area-based income compensation scheme says that farmers should be paid the difference between the actual price they get and the state-mandated MSP. The compensation will be determined on a per acre basis by using district-level estimates of marketable surplus and prices in the harvest season.
Weak consumer sentiment across urban and rural markets due to slow farm inflows, subdued agri-commodity prices, rising cost of ownership as a result of regulatory changes including safety, emissions, vehicle registration, along with a rise in interest cost/EMI, have impacted demand.
Recommendations on direct taxes vary from seeking cut in corporate tax, re introduction of standard deduction for salaried employees, removal of STT, DDT, etc.
In a tightening cycle, a premature pause in monetary policy action would be a costly policy error, Reserve Bank Governor Shaktikanta Das opined while voting along with five other members of the MPC for raising the key lending rate by 35 basis points earlier this month, according to the minutes of the meeting released on Wednesday. Prior to the December hike in repo rate, the RBI had raised the key short-term lending rate by 190 bps in four tranche.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
The Centre is considering a gradual phasing out of certain direct tax exemptions meant for corporate and personal tax payers. This is among the tax proposals being discussed for the upcoming Union Budget 2022-23. A top policymaker said that according to the government's internal assessment, the percentage of corporates and individuals shifting to the new exemption-less tax regime has been very encouraging, and the Budget-makers expect many more to make the switch in the coming years. The person also said the finance ministry is exploring the option of rationalising the capital gains tax rates.
Equity debt, gold - these all are terms you may have heard of when reading on funds but not quite sure where to start with or which one most suits your needs.
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
'Housewives depositing cash up to a limit of Rs 250,000 need not worry.' 'It is understood that in India housewives save money which they get from their husbands for household expenses.' 'The intent of the government is not to question them.'
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Here is an ideal scenario to manage your short-term savings and align it with your long-term investments.
The amended India-Mauritius tax treaty has inserted a new clause allowing source-based taxation at 10 per cent on fees paid for technical and consultancy services.
'India's sizeable foreign exchange reserves should serve as a buffer.'
Franklin Templeton has won the mutual fund of the year award instituted by CNBC-TV18 and rating agency CRISIL.
'The fiscal pressure will be there, but the intent of the government behind this move is to spur demand and growth.'
While equity savings funds could offer higher returns over three-five years, they would also be more volatile.
This may benefit high net-worth individuals who use the services of portfolio managers to sell and buy securities.
GSR 592(E) states that all NRIs -- including PIO like your son -- are not eligible to open PPF accounts. The accounts opened prior to all these dates are allowed to run up to their maturity but no extension or renewal can be made.
