Question: What are the tax implications for gifts and bonuses received during Diwali under the Income Tax Act, 1961? Response given by CA (Dr.) Suresh Surana:During Diwali, individuals often receive gifts from employers, relatives, and friends. It is essential to understand that, under the provisions of the Income Tax Act, 1961 (hereinafter referred to as
Gold and silver prices fell over 1% after hitting a record high on Wednesday, pressured by a stronger U.S. dollar and rising U.S. Treasury yields. This decline came despite robust safe-haven demand driven by concerns surrounding the upcoming U.S. election on November 5 and ongoing conflict in the Middle East. Festive Season Brings Record Highs
Shares of FMCG major Hindustan Unilever (HUL) are expected to remain in focus today after the company reported a 4% drop in its standalone net profit for the quarter ended September 2024. The net profit fell to Rs 2,612 crore, compared to Rs 2,717 crore in the same period last year. Revenue Growth and EBITDA
Hindustan Unilever (HUL) on Wednesday emerged as the third key fast-moving consumer goods (FMCG) company after Tata Consumer and Nestle India to flag demand concerns in urban areas, especially in larger cities. All three firms have attributed the urban slowdown to food inflation and a high base effect in the year-ago period. After multiple quarters
Logistics-tech unicorn Shiprocket said its revenue rose 21% year-on-year to Rs 1,316 crore in FY24, driven by growth in its core business of e-commerce enablement and also expanding scale in its emerging businesses such as cross border, checkout and fulfillment. The company said while its core business has been strengthened by the integration of Pickrr’s
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lacklustre opening on Thursday. Here’s a look at the key stocks to watch in trade. GIFT Nifty ended up by just 7 points or 0.03% up at 24,496 indicating a flat opening for domestic indices NSE Nifty 50 and
KPIT Technologies reported a net profit of Rs 203.74 crore, which was a 44.66% year-on-year rise and a sequentially flat quarterly profit for the September quarter. KPIT’s revenues rose 8% sequentially to Rs 1,471.41 crore. The company maintained its margins at 20.5% during the quarter. KPIT on Wednesday announced plans to raise Rs 2,880 crore.
As the competition between Adani Group’s Ambuja and Aditya Birla Group’s UltraTech for dominance in the cement sector heats up, the south India market has become a battleground with multiple acquisitions at increasing enterprise value per tonne. The latest acquisitions – Orient Cement by Ambuja and India Cement by UltraTech – have been at far
India Post, which has 150,000 rural post offices and 240,000 Dak Sewaks, will be repositioned to act as a catalyst for the rural economy, with its role being transformed as a large public logistics company. Also ReadTurn export challenges into opportunities with strategic road map The department, which has a Payment Bank — India Post
In line with the industry expectations and the target of achieving net-zero, the government announced a series of policy reforms aimed at promoting nuclear energy adoption and strengthening of the country’s electricity distribution and transmission sector. Also ReadNestle India misses estimates on weak urban demand The government envisages a 100 gigawatt (GW) of nuclear energy
Among the various items on wish lists ahead of the 2025-26 Union Budget, the ones that truly stood out included a continued infrastructure push, the revitalisation of micro, small and medium enterprises (MSMEs), and greater incentives for startups and innovation — especially in the emerging sectors — which could boost employment and spur domestic growth.
As the Union Finance Minister Nirmala Stiharaman is all set to present the Union Budget 2025-26 on February 01, GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening. Here’s a look at the key stocks to watch in trade. Stocks in Focus: GIFT Nifty was trading
Many taxpayers are confused about Finance Minister Nirmala Sitharaman’s announcement that individuals earning up to Rs 12 lakh per annum will not have to pay any tax under the new tax regime. This confusion arises because, technically, the income between Rs 8 lakh and Rs 12 lakh falls under multiple tax slabs, with the upper
