SpiceJet promoter and chairman Ajay Singh may offload more than 10 per cent stake in the struggling carrier as part of the latest funding round that is expected to close by the end of September, according to sources. The budget carrier -- which is grappling with multiple woes, including financial challenges, legal battles and grounding of aircraft -- is looking to raise money that will help it meet various obligations.
'There has been a change in the advances mix, with the share of corporate loans decreasing.'
Soccer's player transfer system will be in the spotlight and could even be on the brink of collapse on Friday when the Court of Justice of the European Union (CJEU) announces its ruling on former France player Lassana Diarra's case against FIFA.
'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
Not filing an ITR or paying the tax dues on the deceased's behalf can lead to penal consequences.
Stocks of Indian steel companies are reeling from pricing pressure that is partly blamed on cheap imports. The stocks have declined up to 9 per cent on the NSE in one month, likely allowing investors an opportunity to use the correction to enter the pack as pricing pressure eases. "In steel or any other commodity, if prices or spreads are nearing their bottom, it can be an opportune time to invest in those stocks. In India, domestic fundamentals such as steel consumption remain robust, hence one can take fresh positions in these counters," said Amit Dixit, an analyst at ICICI Securities.
Everyone (with some exceptions) whose estimated tax liability is Rs 10,000 or more in a financial year must pay advance tax.
Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
In order to boost its deposit base, State Bank of India (SBI) is focusing on various segments, including JanDhan account holders, trusts, societies, and the segment below the affluent class but above the normal account holders. According to Ashwini Tewari , managing director, SBI, the bank is focusing on three broad segments. One is wealth banking, where the bank is focusing on individuals who perhaps do not qualify for private banking but are above regular accounts and require individual attention.
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
Stocks of Indian steel companies are reeling from pricing pressure that is partly blamed on cheap imports. The stocks have declined up to 9 per cent on the NSE in one month, likely allowing investors an opportunity to use the correction to enter the pack as pricing pressure eases. "In steel or any other commodity, if prices or spreads are nearing their bottom, it can be an opportune time to invest in those stocks.
Robin Uthappa believes Tabraiz Shamsi, a left-arm chinaman bowler, could be a liability on the batting-friendly Barbados pitch.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
In a recent townhall meeting, creditors of WazirX pressed founder Nischal Shetty and the restructuring legal team for solutions, seeking representation on the committee of creditors (CoC) and expeditious restructuring within four months, and asked for clarity on redistribution of potential gains from future crypto market upswings.
The Supreme Court on Monday used the legal term 'inchoate crime' to refer to mere possession of any child pornographic material that it said would constitute offences under the POCSO even if not disseminated further.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
State-owned mining giant, Coal India, is hoping to recover around 75-80 per cent of its liabilities from customers with whom it has long-term fuel supply agreements (FSAs) after the Supreme Court (SC) allowed states to recover dues retrospectively. A legal recourse, however, is underway. "We are impacted in two states - Jharkhand and Odisha.
Despite steady loan growth, the banking sector is expected to report subdued margins in the quarter ending June 2024 (Q1FY25), driven by high demand for deposits amidst tight liquidity conditions. However, according to Bloomberg analysts, listed banks are forecasted to see a 14.5 per cent year-on-year (Y-o-Y) increase in net profit. Estimates showed that banks' net interest income (NII), and revenues from interest minus interest expenses might grow 11.9 per cent Y-o-Y.
Pavel Durov, the founder and CEO of Telegram, is under formal investigation related to illicit activities on the messaging app.
The growing complexity of E2Ws and the evolving threat landscape make it challenging to guarantee complete immunity from attacks.
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
Indian companies are generating more cash than ever. The net cash flow from listed firms' operations hit a new high of Rs 11.1 trillion in financial year 2023-24 (FY24), crossing the Rs 10-trillion mark for the first time, according to the Centre for Monitoring Indian Economy (CMIE) data going back to 1990-91. The FY24 figure represents a 19.3 per cent jump over the previous year, even as quite a few companies are yet to release their numbers.
Rs 135.3 crore. How much of it was salary, and how much commission?
ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed $10-billion merger and have agreed to withdraw all claims against each other. As part of the "comprehensive non-cash settlement" between ZEEL and Culver Max Entertainment Pvt Ltd (CMEPL), both "have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the SIAC and all related legal proceedings initiated in the NCLT and other forums," said a joint statement.
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
'As on August 25, 94,753 Govindas have been insured.' 'This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily.'
'The biggest impact will be on coal and hence on power cost. Then comes iron ore, coking coal, bauxite.'
Electric two-wheeler (e2W) maker Ather Energy has submitted preliminary papers to the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the IPO will comprise a fresh issue of equity shares valued at Rs 3,100 crore, alongside an offer for sale of 22 million equity shares by its promoters and investor shareholders.
Neither the United States government nor its powerful business lobby is likely to embrace the Indian law, which imposes unprecedented liability on the suppliers for 80 years, says TP Sreenivasan
Nasdaq-listed IT services major Cognizant on Tuesday said the firm's Chief Financial Officer (CFO) Jatin Dalal (pictured) had reached a settlement in the "non-compete" lawsuit filed by Wipro. The terms of the settlement, which was reached without any admission of liability by either party, are confidential. The settlement resolves all pending disputes between Dalal and Wipro, said the company in a statement. Cognizant has paid $505,087 (around Rs 4.1 crore) in connection with Dalal's settlement.
With the Bharatiya Janata Party governments in both states, Uttarakhand and Uttar Pradesh on Thursday reached an agreement on the division of their assets and liabilities, pending since their partition 21 years ago.
Both candidates have shifted from their traditional constituencies - Sadhotra from Marh and Sharma from Akhnoor - after these two segments were reserved for Scheduled Castes.
Finance Minister Nirmala Sitharman on Monday held a performance review meeting with heads of public sector banks and asked them to make concerted efforts to garner deposits. Deposits have been growing 300-400 basis points lower than the credit growth in the last few months, creating an asset-liability mismatch for banks. During deliberations on the deposit mobilisation, she said that while the credit growth has picked up, mobilisation of deposits could further be improved to fund the credit growth sustainably, and asked banks to make concerted efforts to garner deposits by conducting special drives.
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
The Unified Pension System (UPS), approved by the Union Cabinet on Saturday, is "fiscally prudent" as it will be funded within the Centre's fiscal projections, according to T V Somanathan, the Cabinet Secretary-designate. Speaking to Business Standard immediately after the Cabinet nod, former finance secretary Somanathan, who headed the committee set up in March 2023 to review the National Pension System (NPS), said the UPS will not postpone pension expenditure as it will be contributory and financed each year.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
The choice of tax regime dictates how your income will be taxed. If you don't make the right pick, you might end up losing money.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
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