The introduction of tax deducted at source (TDS) on income from central government securities and state bonds may not lead to a significant effect on retail participation, according to market participants. The Union Budget proposed that starting October 1, 2024, investors may face a 10 per cent TDS on investments in central government securities and state development loans (SDLs). "Last Budget, TDS on interest on securities was reintroduced.
Adarsh Kumar, the son of a farmer and a Class 12 student from rural Bihar, is on a mission to build one of India's largest free skill development movements, powered only with a laptop, free Internet and his relentless determination.
The GDP growth is expected to be about 6.3 per cent in the current fiscal year, a tad lower than the government's estimate of 6.4 per cent, owing to several factors such as weak demand, SBI research report said on Wednesday. According to the first advance estimates (FAE) of National Income for 2024-25 released by the National Statistics Office (NSO), released on Tuesday, India's economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, because of poor showing by the manufacturing and subdued investments.
The Budget announcement of zero tax for earnings upto Rs 12 lakh per annum and the rejig of tax slabs across the board should prompt more than 90 per cent of individual taxpayers to embrace the new tax regime as compared to the about 75 per cent as of now, CBDT Chairman Ravi Agrawal said. Agrawal also highlighted the government's focus on "non-intrusive" tax administration through enhanced use of Artificial Intelligence (AI) and simplified tax processes for common taxpayers. He emphasized the benefits of the new tax regime (NTR), which offers simple calculations and allows taxpayers to file their ITR without professional help. The CBDT chief stated that the Budget provisions related to income tax payment benefit all income earners, not just those earning Rs 12 lakh per annum, creating a positive sentiment in the economy and propelling growth. The department is also harnessing technology, including AI and data analytics, to widen and deepen the tax base, resulting in increased compliance and tax revenue. Agrawal further highlighted the positive impact of data availability and simplified tax processes on compliance rates, citing examples of taxpayers filing revised returns and paying taxes after being prompted by the department's data analysis.
'India has resolved to hold the 2036 Olympic Games in these 10 complexes.'
Mixing humour with political resolve, Chief Minister Omar Abdullah on Friday used the flagging-off ceremony of the first train to Kashmir by Prime Minister Narendra Modi in Katra to subtly but clearly articulate his government's demand for the restoration of statehood to Jammu and Kashmir.
Modi also slammed the "negative politics" of some parties and said they used Parliament's time to hide their failures.
Corporate earnings from blue-chips like HDFC Bank, ICICI Bank, Donald Trump's swearing-in as the US President, and trading activity of foreign investors are the key factors to drive equity markets this week, analysts said. Trump will be sworn in as the US president for a second term on Monday. This week, several key Nifty-50 companies, including BPCL, HDFC Bank, Hindustan Unilever, Dr Reddy's, UltraTech Cement, JSW Steel and ICICI Bank are scheduled to announce their financial results.
This is the first Budget in Amrit Kaal, she said.
Passenger vehicle dispatches in India from factories to dealers rose to record levels at over 43 lakh units in FY25, with utility vehicles accounting for 65 per cent of the total sales in the segment, industry body SIAM said on Tuesday. Passenger vehicle (PV) dispatches rose to 43,01,848 units in the last fiscal year, marking a 2 per cent increase compared to 42,18,750 units in FY 2023-24.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
The agency received Rs 911 crore to manage its affairs in the Budget Estimates for 2022-23, which was later decreased to Rs 906.59 crore in the Revised Estimates.
As the row erupted in Parliament, the Congress said the Gandhi family's caste is martyrdom but the BJP-RSS will never understand that.
The Shiv Sena, a ruling party in Maharashtra, has demanded the removal of the protected monument status from Aurangzeb's tomb in Khultabad. This demand comes after protests and calls for the tomb's demolition from organizations like the Bajrang Dal and Vishwa Hindu Parishad. The Archaeological Survey of India (ASI) protects the tomb as a monument of national importance. Maharashtra Chief Minister Devendra Fadnavis has stated that the state government will protect the tomb but will not allow the glorification of Aurangzeb.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
Actor Vijay, founder of the Tamizhaga Vettri Kazhagam (TVK) party, has declared that his party will challenge the ruling DMK in the 2026 Tamil Nadu Assembly elections. In a general council meeting, Vijay criticized the DMK's dynasty politics, their handling of law and order, and women's safety. He also targeted the BJP-led central government over issues like the Waqf Bill, delimitation, and the three-language policy. Vijay promised his party's support to working classes, government employees, and vowed to oppose projects harmful to natural resources and agriculture. He assured 100% safety for women and strict law and order if TVK forms the government. The party passed resolutions opposing the Waqf Bill, delimitation, and the three-language policy, and also voiced support for the two-language policy, finding a permanent solution for fishermen's issues, and opposing the Parandur airport project.
Union Home Minister Amit Shah attributed his health turnaround to a regimen of adequate sleep, a focus on diet and water intake, and regular exercise. Speaking at the Institute of Liver and Biliary Sciences (ILBS) on World Liver Day, he urged young people to prioritize physical activity and sleep for good health. Shah shared his personal experience, revealing that he has been free from allopathic medications for the past 4.5 years due to this lifestyle change. He emphasized the positive impact on his work capacity, thinking, and decision-making. Shah inaugurated an Integrated Liver Rehabilitation Centre at ILBS and visited a cartoon gallery dedicated to liver health. He encouraged corporate houses to support liver health initiatives and praised the Modi government's focus on healthcare.
Ahead of the Union Budget, the banking sector, through the Indian Banks' Association (IBA), has made recommendations to the Union finance ministry on direct tax, including removing Section 194N of the Income Tax Act. According to Section 194N, tax deduction at source (TDS) has to be done if a sum or sums withdrawn in cash by a person in a fiscal year exceed Rs 20 lakh if no income-tax return (ITR) has been filed for the three previous assessment years, and Rs 1 crore if ITRs have been filed in all the three previous assessment years.
'...how do they consume and contribute to the GDP?'
Starlink's application for offering satcom services in India had been held up for the company's inability to comply with mandatory ownership disclosure norms.
From the 30-share blue-chip pack, Adani Ports jumped over 5 per cent. NTPC, Tata Steel, Bajaj Finserv, Zomato, Bajaj Finance, Tata Motors, State Bank of India, IndusInd Bank and Maruti were among the other big gainers. From the 30-share pack, Hindustan Unilever, Titan, Tata Consultancy Services, Infosys and UltraTech Cement were the other laggards.
Invest in these funds through the SIP route with at least a seven-year horizon.
'Going forward, the encouragement would be to move to the new tax regime.'
The Budget should undertake further reductions in import tariffs and seriously consider an announcement of India's intention to join one or both of the two Asian mega-regional free trade agreements, suggests Shankar Acharya, former chief economic adviser to the Government of India.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
"The Union Budget represents the aspirations of 130 crore Indians and lays out the path towards India's development. I invite you all to share your ideas and suggestions for this year's Budget on MyGov," the PM said according to a statement posted on his official website on Thursday.
'The voice which came wherever I travelled was that we are proud taxpayers. We are honest taxpayers. We want to continue to serve the country by being good taxpayers.' 'But what do you think about the kind of things you can do for us?'
A higher level of private sector financing and resource mobilisation from new sources will be crucial for India to build quality infrastructure, according to the Economic Survey 2023-24. The Economic Survey 2023-24 was tabled in Parliament by Finance Minister Nirmala Sitharaman on Monday.
Equity markets this week will take cues from global trends, trading activity of foreign investors and quarterly earnings, with TCS kick-starting the results calendar on Thursday, analysts said.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
The DMK government in Tamil Nadu has sparked controversy by replacing the Indian Rupee symbol with a Tamil letter in the logo for its 2025-26 budget. The move has drawn criticism from the state BJP, which accused the ruling party of being "stupid." The development comes amidst the ongoing language row between the Centre and Tamil Nadu, with the latter alleging Hindi imposition by the Union government.
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
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.
The Union Budget for 2017 is likely to be presented on February 1. An approval for merging the Railway Budget with the General Budget was accorded by Finance Minister Arun Jaitley on Monday.
'Indian families' needs and expectations have gone through a revolution across economic demographics.' 'As this latest Modi-Sitharaman Budget demonstrated, politicians have understood this change. They are responding to it,' points out Shekhar Gupta.
'We face the risk of remaining a low-income country for a very long time unless something changes in the next few years.' 'Instead of constantly talking about becoming a developed economy, we need to start fixing the problems of the economy one by one.' 'There is so much potential, and we are squandering away the opportunity.'
'I believe that the overall demand for commercial vehicles will improve, even though there is a slowdown in the GDP.'
Association for Democratic33 per cent of 4,092 sitting MLAs were non-graduates.
The Pradhan Mantri Awas Yojana-Grameen has the highest unutilised amount (Rs 13,111 crore) compared to any other centrally sponsored scheme.
The 'halwa ceremony' marks the beginning of the lockdown of several officials in the finance ministry, who remain cut off from their families until the presentation of the Budget by the finance minister in the Lok Sabha.
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