The Economic Times
The Economic Times Stock market today: BSE Sensex ends over 1170 points down; Nifty50 below 23,600
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, tanked in trade on Friday. While BSE Sensex went below 78,500, Nifty50 was just above 23,700.
The Economic Times Bitcoin taxation: Only Rs 33 lakh income tax liability on Rs 6.64 crore gain by selling Bitcoin for an Infosys employee, rules Jodhpur ITAT
Bitcoin is capital asset: Jodhpur ITAT recently ruled that an Infosys employee who purchased Bitcoin using his salary should pay capital gains tax at 20% rate and also claim section 54F tax exemption after he sold the Bitcoin for Rs 6.69 crore. The Income Tax Department wanted this person to pay 30% tax on that more than Rs 6 crore gains but lost the case. Curious to know why and which legal aspect this person used? Read below.
The Economic Times Adani Group to invest Rs 20,000 cr to set up thermal power plant in Bihar, says Pranav Adani
Adani Group will invest Rs 20,000 crore in a Bihar thermal power plant. The group will expand cement, food processing, and logistics operations. Rs 2,300 crore will be invested in logistics, creating 27,000 jobs. Smart meter manufacturing will receive Rs 2,100 crore. Cement plant capacity will increase. The power plant project will create thousands of jobs.
The Economic Times MobiKwik shares skid 6% as investors book profits after 117% returns in 2 sessions
MobiKwik shares, after a 37% surge post-debut and reaching Rs 605, dipped 5.7% to Rs 510.30 on Friday due to profit-booking. The fintech firm's IPO, oversubscribed 119 times, fueled optimism about its profitability and the digital payments sector. Experts advise profit-booking given high listing gains, suggesting a stop-loss around Rs 400 for long-term holders.
The Economic Times US attorney behind Adani's bribery charges, Breon Peace, to resign as Trump returns
Brooklyn US Attorney Breon Peace, appointed by President Biden, will step down on January 10. His tenure saw high-profile convictions, including singer R. Kelly and former Mexican official Genaro Garcia Luna. Peace's office also secured significant financial penalties from companies like Gunvor Group and RTX Corp. First Assistant US Attorney Carolyn Pokorny will replace him.
The Economic Times SEBI grants LIC three more years to achieve 10% public shareholding
The Securities and Exchange Board of India (SEBI) has granted an additional three years of time to the Life Insurance Corporation of India (LIC) to achieve 10 per cent public shareholding, the insurance company informed stock exchanges on Wednesday.
The Economic Times FAIFA demands withdrawal of 35% GST on tobacco
The Federation of All India Farmer Associations (FAIFA) projects 5.5% CAGR for Indian agriculture, reaching Rs 42 lakh crore by 2030. However, they oppose the proposed 35% GST on tobacco and aerated beverages, citing adverse impacts on farmers. FAIFA celebrated Kisan Divas, awarding farmers for outstanding contributions, and released their agricultural outlook emphasizing digitization and increased irrigation.
The Economic Times Hindustan Unilever faces ₹44.87 lakh GST demand order
Hindustan Unilever faces a ₹44.87 lakh GST credit disallowance and an equal penalty from the Patna tax authority. The company plans to challenge the order, issued under the CGST and IGST Acts, in an appellate forum, according to a regulatory filing.
The Economic Times GST Council meet: Ordering from Swiggy, Zomato may get cheaper; health insurance exemption on cards
The GST Council is set to discuss several changes, including reducing tax on life and health insurance premiums, food delivery platforms, and aviation turbine fuel. It may raise taxes on luxury goods like wristwatches, shoes, and apparel, and introduce a 35% tax for sin goods.
The Economic Times Tolins Tyre appoints Sojan C S as CFO
Sojan’s appointment follows the resignation of Ravi Sharma, who stepped down as CFO and Key Managerial Personnel of the company.
The Economic Times India gears up for a potential trade deal as Trump targets China, say government sources
To tackle Trump's threat of a "reciprocal tax" on Indian goods for high tariffs, some officials of the Indian commerce ministry are ready to consider cuts on certain products such as pork, a senior government source said. Currently India slaps about a 45% import tariff on pork, which is mostly supplied by the US.
The Economic Times Former Standard Chartered CFO Gaurav Maheshwari joins InCred Finance
InCred Finance, the consumer and MSME lending arm of the InCred Group, has announced the appointment of Gaurav Maheshwari as Chief Financial Officer (CFO), succeeding Vivek Bansal.
The Economic Times Former Standard Chartered CFO Gaurav Maheshwari joins InCred Finance
InCred Finance, the consumer and MSME lending arm of the InCred Group, has announced the appointment of Gaurav Maheshwari as Chief Financial Officer (CFO), succeeding Vivek Bansal.
The Economic Times What is the 'Four Balance Sheet Challenge,' and is India still struggling with it?
India's economy, once burdened by a "Four Balance Sheet Challenge" involving banks, infrastructure companies, NBFCs, and real estate firms, has seen a remarkable turnaround. The initial "Twin Balance Sheet Problem" stemming from stressed bank loans and struggling infrastructure projects expanded to include the NBFC and real estate sectors.
The Economic Times India to spend USD 8 trillion on investments in next five years: Motilal Oswal
India is poised to spend a massive USD 8 trillion on investments over the next five years, says a report by Motilal Oswal.