IT services company HCLTech on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution. For the fiscal's first quarter ended June 2024 (Q1 FY25), the revenue came in at Rs 28,057 crore, 6.6 per cent more than in the year-ago period. Seen sequentially, it was 1.6 per cent lower than the March quarter.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
With US-based electric vehicle (EV) maker Tesla scouting for a suitable location for its foray in India, Rajasthan has joined the fray with a host of offers to woo the Elon Musk-led company. Other challengers include Gujarat, Tamil Nadu, and Maharashtra. Sources privy to the development said that an initial meeting between the senior executives of Tesla and the government of Rajasthan, which was held last week, turned out to be "quite positive." Tesla would now carry out a survey and is expected to share the survey details with the state's investment promotion department soon.
Adhiraj Parthasarathy, a professional from Telangana, tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
In case you are not aware, the guidelines governing such investments are a lot different this year. And lethargy on your part to rework your investment plan could cost you dear.
rediffGURU Ulhas Joshi answers your mutual fund queries.
E-proceeding of tax scrutiny has certain technical and practical issues which need to be addressed before making the system fully electronically driven.
Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan. In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
P V Subramanyam clears some misconceptions about debt funds.
Selling property below market value can lead to litigation. Tinesh Bhasin offers tips on how to avoid it.
As the voting process for the new Conservative Party leader formally opened with postal ballots being mailed out to Tory members from Monday, Rishi Sunak vowed to cut the basic rate of income tax by 20 per cent in a few years if he is elected Britain's prime minister.
Adani Enterprises Ltd, the flagship incubator of billionaire Gautam Adani's conglomerate, on Thursday reported a 37 per cent drop in March quarter net profit, bogged down by one-time past airport dues and commercial mining losses. Its consolidated net profit of Rs 450.58 crore in January-March - the fourth quarter of fiscal year 2023-24 - compares to Rs 722.48 crore net profit in the same period last year and Rs 1,888.45 crore earning in the preceding quarter, according to a stock exchange filing by the company.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Investments of up to Rs 100,000 in tax-saving funds are eligible for deduction under Section 80C of the Income Tax Act. This has opened up a new spectrum for investors while conducting their annual tax-planning exercise.
The momentous occasion came when the House of Representatives passed the $1.5 trillion (Rs 96 lakh crore) tax reform bill for the second time by 224 to 201 votes to clear the technical snag in the passage of the bill, which was passed by the Senate and House earlier.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
You get a tax benefit when you invest in an ELSS scheme, dividends are tax free and when you sell the units after three years, you pay no tax. And it has the lowest lock-in period when compared to the other options under Section 80C.
'Young investors with limited funds should ensure that investing in NPS does not crowd out their other, more liquid, investments.'
New business premium (NBP) growth of life insurers in March is expected to be weak owing to the high base effect in the year-ago period due to revision in taxation norms for high-value policies, insurers said. In the Budget, Finance Minister Nirmala Sitharaman proposed that insurance policies (excluding unit-linked insurance plans or Ulips) with an aggregate premium exceeding Rs 5 lakh would be taxed. This rule came into effect on April 1, 2023. In March 2023, the NBP of life insurance companies witnessed a strong growth after the tax announcement. Premiums rose by 14.45 per cent year-on-year (Y-o-Y) to Rs 59,608.83 crore in March 2023 from Rs 52,081.12 crore.
In its drive against tax evasion, the finance ministry is planning to add to the list of high-value transactions required to be reported to the revenue department in annual information returns (AIRs).
It accounted for over a third of foreign direct investment flows into India between 2000 and 2015
'Traders must adopt digital payments as soon as possible within a set timeframe, as the nation is moving rapidly towards digitisation.' 'Ignoring digital systems is not an option for strengthening trade.'
These products are extremely transparent and are the lowest charged products in the insurance space. The policyholder has to only pay the fund management charge. Hence, from the cost side, ULIPs are very competitive.
'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
The actor-turned-politician has been allotted Panchayat Raj and Rural Development, Environment, Forests, and Science and Technology portfolios.
This time Modi has no emotive message to take to the stump. Muscular nationalism doesn't work against the backdrop of China's successive inroads into Indian territory. Rising prices is a sore point that cuts across class and caste barriers; unprecedented levels of unemployment has the youth in a ferment. This has reduced the BJP campaign to a laundry list of recycled grievances and thinly veiled communal appeals, neither of which are working as well as they have in the past, argues Prem Panicker.
'It is in the interest of China and Pakistan to give a bad name to the Indian Army and remove AFSPA 'completely' from the north east.' 'Hopefully, better sense will prevail and the ground realities of the army countering insurgency in the north east acknowledged,' asserts Lieutenant General Prakash Katoch (retd).
From connectivity woes to infrastructure advancements and the startup boom, there is a gulf between claims and reality in India's economic landscape, points out Devangshu Datta.
Here are some of the important items of income, which are fully exempt from income tax and which can be utilised by a resident individual Indian assessee for the purpose of tax planning.
There will be zero Income Tax on income of Rs. 11.20 lakh (Rs 1.12 million). Impossible? No, it isn't.
The finance minister's assertion that industry should not expect any spectacular announcements in the 2024 interim Budget suggest that the electoral imperatives of more tax concessions or higher expenditure on welfarist programmes could be far less pronounced than they were before the 2019 interim Budget, expects A K Bhattacharya.
'Mankind's experience, sharpness, and execution will make it happen. We are not going for short-term gains.'
Dixon Technologies' January-March quarter (Q4) results came in well below expectations, but the potential for signing up a new mobile client, and plans for backward integration into display manufacturing kept investors happy. Dixon's Q4FY24 revenue grew 52 per cent year-on-year (Y-o-Y) to Rs 4,660 crore, below Street consensus, due to weakness in consumer electronics (Rs 890 crore) and home appliances (Rs 294 crore) segments.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
'If equities perform well in a year, withdraw money from equities. If the equity market is down, shift withdrawal to the debt portion.'
One common mistake investors commit during profit booking is not having a plan for the redeployment of the money that comes into their account.
For long-term financial security, millennials must not only provide social security for their young families but also ensure that their financial burdens are not passed down to their families, says Casparus Kromhout.
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