People walk past a display screen telecasting the Union Budget 2024-25 presentation by Union Finance Minister Nirmala Sitharaman at the Parliament House, outside the Bombay Stock Exchange (BSE) in Mumbai on July 23, 2024. | Photo Credit: ANI The stock markets reacted negatively to the Budgetary provisions concerning additional tax burden on investors and closed…
The Nifty FMCG index was the top gainer among sectoral indices on Tuesday, rising 2.7%. The biggest gainer was ITC Ltd, (shares gained about 6%), after tobacco taxes were left unchanged. Investor focus now shifts to cigarette volume performance in coming quarters. For the other FMCG companies, subdued consumer demand, especially in the rural areas,…
The Government of India levies income tax at slab rates ranging between 0 and 30 per cent with a surcharge (up to 25 per cent) in addition to levying a 4 per cent health and education cess. Effectively, the maximum rate of income tax on the highest income bracket stands at 39 per cent now….
Image used for representation purpose only. | Photo Credit: Reuters Finance Minister Nirmala Sitharaman, in her Budget speech on July 23, said the fiscal deficit for 2024-25 is estimated at 4.9% of GDP. Presenting the Union Budget for 2024-25, she said the government aims to reach a 4.5% fiscal deficit in 2025-26. Click here for…
The Union budget on Tuesday promised one month’s wage up to ₹15,000 to all new joinees in formal sectors, a scheme that is expected to benefit 21 million youth. On the tax front, standard deduction for salaried employees was raised from ₹50,000 to ₹75,000. “The budget is consumption-friendly”, said Rohit Jawa, CEO and managing director of Hindustan…
Domestic gold prices dropped by nearly five per cent on Tuesday after Finance Minister Nirmala Sitharaman announced a cut in the basic customs duty on gold, silver and platinum. Also read: Budget 2024: Duty cut to lower gold prices. How will it impact jewellery stocks? he reduction in customs duty on gold and other precious…
Your income from letting out of a house or part of your house will henceforth not be charged under the head ‘profits and gains of business or profession’. Instead, it will be chargeable only under the head ‘income from house property’. The government announced this change in tax regulation in the Union Budget 2024. It…
The Finance Minister had stated in her address that more than two-thirds of the taxpayers had availed the new regime in the previous fiscal year. | Photo Credit: The Hindu Altering the structure for taxation of income under the new regime, Finance Minister Nirmala Sitharaman on Tuesday revised the tax slabs whilst retaining the erstwhile corresponding…
The Union Budget 2024 marks a pivotal moment in India’s economic journey, introducing a sweeping array of initiatives aimed at invigorating growth and transforming the financial landscape. These measures are poised to impact the financial services sector and capital markets, driven by increase in capital expenditure, significant tax reforms, and enhanced support for crucial sectors….
Bringing cheer to consumers, Finance Minister Nirmala Sitharaman has announced an import duty cut on gold, silver and platinum. The total duty has been revised down to 6 per cent from the earlier 15 per cent effective July 24. For platinum, it has been revised down to 6.4 per cent from the current 15.4 per…
