Citi Financial News

claims can drag both under the taxman's glare. The Income Tax (I-T) department is using a fine-tooth comb to nab discrepancies in the tax deducted at source, or TDS, by companies and the declarations by its employees in the annual I-T returns. What's underway is a line-wise reconciliation of the two sets of numbers under different heads — house rent allowance, medical insurance, outgo on home loans, tax saving investments under 80c etc. Around early December, several companies in Mumbai, Delhi and other big cities have been served notices under Section 133C which was introduced in 2014-15, empowering authorities to call for information to verify details.

Investing.com — Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Allakos, Discover Financial, and Spotify; downgrades for PepsiCo and Nike.

Experion Developers, the Indian unit of Singapore's Experion Holdings, plans to launch projects with a sale value of over ₹10,000 crore next year as it has completed five land acquisitions worth ₹2,100 crore, CEO Nagaraju Routhu told ET. The company plans to launch projects in all five land parcels it has acquired recently, in addition to acquiring more land in the NCR and other cities. «We are expected to cross ₹1,000 crore in revenue in FY24, and we hope to more than double that number next year given the kind of launches we have planned.

Elekta, the Swedish medtech company that makes radiation therapy equipment for treating cancers and neurological disorders, is betting big on India. The company sees an acceleration of demand for linear accelerator (LINAC) machines led by expansion of cancer care to tier-2 and tier-3 cities and towns in both the private and public sector. LINACs are machines that use high-energy radiation to pinpoint and destroy cancer cells.

Vatican City: Pope Francis said in his Christmas message on Monday that children dying in wars, including in Gaza, are the "little Jesuses of today" and that Israeli strikes there were reaping an "appalling harvest" of innocent civilians. In his Christmas Day "Urbi et Orbi" (to the city and world) address, Francis also called the Oct. 7 attack on Israel by Hamas militants "abominable" and again appealed for the release of around 100 hostages still being held in Gaza.

Mint, the average room rates are far higher than their range in 2019. On an average this year, the traveller had to shell out ₹7,200-7,400 for a room in the top hotel brands, indicating a year-on-year increase of 20%, and 22% higher from 2019, said data from HVS Anarock. This upward trajectory has also resulted in a 30% increase in Revenue Per Available Room (RevPAR) from ₹4,600-4,800 in 2022, and a 20% uptick from 2019 levels.

Dharavi, spread over 600 acres of prime land in the heart of the country's commercial capital, Mumbai has intensified the discussion surrounding Transferable Development Rights (TDRs). The concept of TDRs originated in New York City in the early 1960s. While it has been utilized worldwide since then, it has garnered increased attention, particularly in major Indian cities over the past few decades.

NEW DELHI : Covid cases continued to rise, with India reporting 628 fresh cases and one death in the past 24 hours, the Union health ministry said on Monday. The active caseload of covid-19 infections rose from 3,742 on Sunday to 4,054 showed ministry data. A death was reported from Kerala, bringing the national fatality toll to 5,33,334.

find solace in the mountains found themselves in the middle of chaos as they waited for hours in long traffic jams across the popular tourist destinations in Himachal Pradesh. The government is expecting more than one lakh tourists around Christmas and New Year, and the administration has made special arrangements for the same. The people commuting on the Mumbai-Pune Expressway faced the same ordeal as the roads remained packed with travelers out to celebrate the three-day Christmas weekend.

By Philip Pullella

Sonam Wangchuk on Saturday asserted that climate change poses a greater threat to the human race than world wars. He underlined the role of tribal communities in protecting the environment and urged the residents of modern cities to learn the sustainable way of living from the people who live in harmony with the nature.

₹2,630.93 crore, with operating loss at ₹1,100 crore. In the first quarter of this financial year, the company’s operating loss was at ₹182 crore. Ola Electric is looking to raise ₹5,500 crore via a fresh issue of 95,191,195 equity shares in its IPO, targeting a valuation of $7-8 billion (about ₹62,000 crore) in early 2024.

MG Comet EV stands out as the most economical electric car in India. This compact and boxy hatchback may appear smaller compared to its counterparts, but it serves as an ideal vehicle for city commuting. Launched in 2023, the MG Comet EV debuted with an introductory starting price of ₹7.98 lakh (ex-showroom), posing a formidable challenge to the Tata Tiago EV, which previously held the title of the most affordable electric car in India.

Ayodhya railway station after the ongoing revamp. Prime Minister Narendra Modi is scheduled to inaugurate the revamped Ayodhya railway station later this week. Tourists pouring into the temple town ahead of the grand consecration of the Ram Temple on January 22 are stopping at the railway station, marvelling at the ongoing revamp work which is aimed at giving it the look and feel of a temple. Prime Minister Modi will touch down at the temple town on December 30--ahead of the consecration ceremony next month. Purshottam, a tourist from Delhi, said the revamped railway station, while being equipped with new-age amenities for the benefit of passengers and visitors, will also have echoes and influences of Hindu mythology in its overall appearance. «We are here for the first time.

BEIJING (Reuters) — Giant Christmas trees adorned with lights, tinsel and gift boxes greet shoppers at glittering malls in big Chinese cities like Shanghai and Chongqing, but in many parts of China, extending season's greetings is out of the question.

Santa’s sleigh bells, children turn their otherwise equanimous parents into fiends at toy stores, and families. Some people in the family amp up their annoyance quotient so much you secretly wish you had obeyed your instincts and had just snuggled in your bed watching yet another rerun of Bruce Willis in Die Hard. But when you’re walking about the neighbourhood - just to get away from the crazy aunt - and some stranger offers you the best plum cake you’ve ever had, and suddenly fairy lights are switched on, something inside you lights up too… You step into the super crowded wine shop and buy the best wine they have, and come home just brimming with something inexplicable.

As we approach the end of 2023, the Indian real estate market is experiencing robust growth and heightened sentiments, particularly in the residential segment. Investor and buyer preferences have undergone a paradigm shift, significantly shaping the trajectory of the realty market. The residential sector has been a beacon of stability, demonstrating substantial growth potential throughout 2023.

India’s real estate market received private equity (PE) investments of USD 3.0 billion from 23 deals in 2023 (January 01 – December12, 2023), as against USD 5.3 bn recorded in 2022, according to Knight Frank India.

Motilal Oswal Asset Management Company (MOAMC) on Friday said it has mobilised over Rs 1,350 crore during the New Fund Offer (NFO) period of its small cap fund. The asset management firm said it was the highest-ever collection for any small-cap active fund NFO in India.

Dwarka, one of the leading real estate hotspots of Delhi, has become the top choice for real estate buyers and developers and is redefining its identity as the central hub for the retail industry. Over the past few years, the region has witnessed unprecedented development, transforming it into the latest realty hotspot. This evolution is driven by several factors, including robust infrastructure, excellent connectivity, and a wide spectrum of vital amenities that have made Dwarka an attractive destination for real estate developers.

Dwarka Expressway is the new growth engine of the Millennial City, Gurgaon. Also called the New Gurgaon region, there is a tremendous spotlight on the region, which has further increased in the wake of the completion of the 8-lane expressway.