COST Financial News

indexation benefit on property. Now, homeowners are required to pay a flat 12.5% long-term capital gain tax on the gain they make by selling the property. The new rule is one of the most significant budget proposals, especially for homeowners planning to sell their property. While the finance ministry claims that a majority of homeowners will be better off under the new rule, ET Wealth’s analysis paints a different picture and shows that some homeowners will even face a double blow. Here is a detailed analysis and also suggestions on how you can minimise the adverse impact.

With the unveiling of Union Budget 2024-25, personal finance is set for a transformation that promises both simplification and strategic shifts. Although the anticipated increase in the tax-free threshold didn't materialize, the proposed changes signal a move towards a more streamlined tax system. Finance minister Nirmala Sitharaman is recalibrating the tax landscape, favouring reduced rates, broader slabs, and fewer deductions to make the new regime more appealing.

«So, if you see what we build up for the domestic business, the 5% volume growth and overall, the 9% top line growth for the company, but again the numbers are not pretty well for the company and also as I said earlier that the volatility in the raw material prices, especially in the cocoa and the coffee prices,» says Preeyam Tolia, Axis Securities. What is your first outlook coming in for Nestle India? The numbers they seem to be below estimates, at least for ET Now poll. Preeyam Tolia: Yes, the numbers are below our estimate as well in terms of the top line as well as on the margins front. So, please note that there is inflation in the raw material prices which has also impacted margins. At the same time, the volumes have not picked up as per the anticipation. So, the numbers are pretty weak for Q1.

Prior to the annual general meeting last month (20 June) the board unveiled plans for two tender offers, one of was performance-related. Both measures were for up to 15% of the issued share capital and the primary offer will run on a tender price equal to a 2% discount to the prevailing net asset value per share as at the calculation date, excluding the costs of implementing the tender offer. JPMorgan European Discovery unveils two tender offers This offer will be managed Cavendish Capital Markets Limited. The performance-based offer will only kick in if the company's net asset ...

In Budget 2024, finance minister Nirmala Sitharaman announced a significant amendment regarding the treatment of rental income from residential property. Previously, individuals could report their rental income as business income, but this will now change. Rental income from residential property must be reported under the 'Income from House Property' category, as per Section 24 of the Income Tax Act.

The huge number of SUVs available today can complicate the shopping experience

Ford Motor Co.’s second-quarter net income fell 4.7% from a year ago as the company’s combustion engine unit saw pretax profits decline due to stubbornly high warranty costs

government proposed a cut in import duty on gold and silver in the budget. Analysts said the move aimed at curbing illegal imports of gold would benefit domestic jewellers, especially the large organised ones.

FMCG bellwether HUL posted a subdued performance, with a 1.6% increase in revenue and a 2.7% increase in net profit. The operating profit margin stood at 23.8% — 20 basis points higher than the year-ago level. One basis point is a hundredth of a percentage point.

Just as the central bank’s last 25-basis point rate cut did little to move the housing market, this one probably won’t either, says Clay Jarvis, Nerdwallet Canada’s mortgage and real estate expert. An overnight rate of 4.5 per cent is unlikely to unleash homebuyers’ pent-up demand, he said.

The Trudeau government is like a band that only knows one tune: more spending/higher taxes.

Private sector activity in India rose to a three-month high of 61.4 in July from 60.9 in the previous month, the HSBC Flash India Composite Output Index showed Wednesday. Backlogs of work rose further, prompting the best upturn in employment in over 18 years, according to the survey report.

Orlando-area realtor and TikTok creator Freddie Smith on Florida's pricey market and best advice for achieving homeownership.

DFW Housing & macro econ analyst Amy Nixon joins ‘Making Money’ to discuss the impact of big banks investing in residential real estate. 

Morgan Stanley executives last week said the wirehouse bank, like its competitors, was it raising rates on clients’ cash in advisory sweep accounts. At the time, the firm did not reveal details about the changes.

The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday, the second straight reduction in the central bank’s easing cycle.

CG Power and Industrial Solutions Ltd on Wednesday reported a 21 per cent hike in its standalone profit after tax of Rs 232.13 crore for the April-June 2024 quarter. The company, part of the diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 192.06 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone profit after tax stood at Rs 1,004.36 crore.

JK Paper Ltd on Wednesday reported a 55 per cent decline in consolidated net profit to Rs 140.79 crore in the June 2024 quarter, hit by a fall in market prices coupled with a surge in wood cost. The company posted a consolidated net profit of Rs 312.56 crore in the corresponding period of the last fiscal, JK Paper said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,804.47 crore against Rs 1,663.97 crore in the year-ago period, it added.

space sector has immense economic potential, likely to be worth Rs 35,200 crore, about 8% of the global share by 2033. On 23 July, the Finance Minister announced the creation of a dedicated “space fund” worth Rs 1,000 crore, aiming to boost India’s space economy, attract investment and in the global space industry. According to Mr. Pawan Goenka, IN-SPACe Chairman, the fund is expected to be a professionally managed entity that supports space businesses. India has showcased on the global stage its ability to innovate on a frugal budget, fulfilling the Chandrayaan-3 mission at a cost that was merely 3% of the Russian moon missions. This Budget proposal signals the Government’s intent to give a fillip to the Indian space sector by providing financial support, mentorship and guidance to emerging space startups. The establishment of the space fund marks the next step in a successful PPP collaboration aimed at advancing the technology essential for India's success in this field.

₹1 crore five years ago and valued at ₹1.47 crore today would incur a tax of ₹7.01 lakh without indexation, compared to ₹5.1 lakh with indexation. This represents a 37.54% increase in tax outflow despite the lower tax rate, explained Feroze Azeez, deputy chief executive of Anand Rathi Wealth Ltd.

asset management companies (AMCs), real estate, consumer, defence, OMCs and select stocks in the new age space according to estimates by top brokerages. Here's what they say on sectors, stocks: