COST Financial News

Mumbai: India’s latest union budget had a rude shock for foreign investors because their tax liability on capital gains in the country will surge across asset classes, experts said, which is likely to make them weigh the impact of the move before investing in the country. The biggest hit will be on foreign direct investments (FDI) in compulsorily convertible debentures (CCD), where the income tax rate on capital gains has gone up to 35% from 10%. Earlier, gains on unlisted CCDs held directly by foreign companies for more than three years were treated as long-term capital gains (LTCG) and taxed at 10%.

Skill development and creation of employable youth with skills for future is one of the key themes of the Union Budget 2024. With this objective, the Government has rolled out a new internship scheme for 500 top companies in India. Though participation under the scheme is voluntary, it does have benefits that organisations may want to explore to build workforce for future.

NATO summit in Washington this month but, away from the public stage, the alliance's military planners have been focused on assessing the enormous cost of fixing Europe's creaking defences. NATO leaders agreed plans last year for the biggest overhaul in three decades of its defence capabilities, amid growing fears of Russian aggression.

exporters and industry stakeholders.

real estate sector has cautioned the government that the proposal to remove indexation benefits for long-term capital gains in real estate will hurt the growth of the sector.

Bajaj Finance fell by 2.5% in early trade on Wednesday to a low of Rs 6,560 after the company reported a 14% year-on-year (YoY) jump in its net profit, which was slightly below the street’s estimates of Rs 3,947 crore. The net interest income (NII) for the reporting quarter advanced 25% YoY to Rs 8,365 crore from Rs 6,717 crore in the same quarter of last year. Company’s gross NPA (non-performing asset) and net NPA ratios stood at 0.86% and 0.38%, respectively at the end of the June quarter. The same was 0.87% and 0.31% at the end of last year's quarter.

Thyrocare Technologies shares jumped 16.75% to their fresh all-time highs of Rs 759 on the BSE after the company posted 46% YoY jump in profit after tax to Rs 24.7 crore for the first quarter ended June 2024. The company’s consolidated revenue has increased 16% year-on-year to Rs 157 crore for the first quarter of FY25 while the gross margins stood at Rs 100.7 crore, up from Rs 87.7 crore in the corresponding quarter of the previous year. This is an increase of 15% YoY.

Developers are thinking small when it comes to studio apartments. The average size of studio units has shrunk by 54 square feet to 445 square feet since 2014, making them 10% smaller today than they were a decade ago, according to a new report from RentCafe. Smaller studios, which are self-contained apartments without walls between the living space and kitchen, appeal to renters and landlords.

UPS managed to boost its volume in the U.S. for the first time since 2022 during its second quarter, but profit and revenue fell short of Wall Street’s expectations partly due to a hefty charge

Coca-Cola is raising is full-year sales guidance after a stronger-than-expected second quarter

Union Budget: The recent budget announced by finance minister Nirmala Sitharaman brings relief to consumers by reducing customs duties on various imported goods, making luxury items and essential commodities more affordable.

₹1 lakh to ₹1.25 lakh are extremely poor substitutes for elimination of this cost indexation benefit, which was quite significant. There would be many cases where cost indexation resulted in no taxable gains or minimal gains, and 20% tax on that would have been negligible. The tax now on the entire gains at the lower rate of 12.5% would be far higher.

fiscal prudence. The glide path 2026-27 onwards envisages fiscal deficits such that the percentage of government debt to GDP keeps falling. This is a very big and ambitious statement for a developing economy like India. These targets are being achieved without compromising on the quality of receipts and expenditures.

«I do not want to give it a name, but I think this was very serious. And therefore, after all, as we say economics is a handmaiden of politics. If you get politics wrong, economics is just left behind. So, this is a brilliant balancing act of being equitable, at the same time not compromising at all on the glide path to growth and to Viksit Bharat,» says Vallabh Bhanshali, Chairman, Enam Group. How would you describe Nirmala Sitharaman’s seventh budget and Modi 3.0's first budget? Vallabh Bhanshali: In the context of going from an absolute majority government to a coalition government, on the one hand and on the other hand, we had a very rising and probably capital market with F&O positions, creating a certain commentary in the country, not only amongst people at large, but even amongst regulators like SEBI and RBI and she had to take that into account. Serious determination to continue from where they had left, which is Viksit Bharat 2047, third largest economy in a few years' time and I think very importantly, we should not forget is the rising rhetoric in the country to go back to the 70s style of economic policy.

Fighting climate change is difficult partly because humans are weird. It’s difficult to get them to care about their own future well-being much less that of entire future generations. People blow retirement funds.

electric vehicle maker cut prices to revive demand while it increased spending on AI projects.

STT) — collected on trades done in equities or derivatives on the exchange platform —for the sale of futures and options. The move is expected to dampen the heightened activity in stock futures and options that was seen as a matter of concern for the authorities and the regulators.

Ethereum co-founder Vitalik Buterin has introduced a cryptographic protocol called Circle STARKs to enhance blockchain security and efficiency.

Used car prices in Canada are coming down from last year’s peaks thanks to a surge in inventory and buyers shifting back to the new vehicle market, according to a new report.

Also read | Why Sebi and RBI want retail investors to stay away from derivatives For options traders, the securities transaction tax will increase by about 60%, said Roop Bhootra, chief executive officer of investment services at Anand Rathi Shares and Stock Brokers. “This move would definitely have a negative impact on professional traders who are trading more on intraday basis and generating exceptionally high-volume trades as it will increase their trading costs," he said. The securities transaction tax was introduced in 2004 to rein in speculative trading and rake in revenue from the financial markets.