COST Financial News

Gone are the days when economic irregularities were ‘business as usual’ and claiming 80C/ 80D/ 80G/ 10(13A)/24(b) or any other deduction in income tax returns would merely attract a disallowance and consequential additions, that too in case the returns were scrutinized. Gone are the days when the ITRs of salaried individuals were not subject to scrutiny as a practice. Gone are the days when the professionals filing tax returns of assessees could go scot free and the entire blame of wrong-doings would be the burden of the assessees only.

Samsung Electronics Co. is considering adding an affordable option to its portfolio of foldable phones, in a move to hasten adoption of the novel form factor.

Choosing a place to live is a significant decision that can greatly impact your personal and financial well-being. It involves considering a wide range of factors, from your budget and job opportunities to the local real estate market and education systems. This article aims to guide you through the process of selecting the ideal location to reside, taking into account various aspects from a personal finance standpoint.

Investing in commercial real estate presents a viable solution for safeguarding your assets against the eroding effects of inflation. With its potential to generate high returns and foster long-term wealth growth, commercial real estate can provide a hedge against rising prices and inflationary pressures.

The luxury housing segment in India maintained strong sales momentum, registering a 130% Y-o-Y increase in Jan-Jun’23 period. Total sales of luxury units during Jan-Jun’23 period stood at 6900 compared to 3000 units during the same period last year, according to a CBRE report.

The emergence of Shop-Cum-Office (SCO) spaces in Tier II cities has indeed transformed the landscape of the ever-evolving real estate market in India. The concept of SCO has gained prominence after the pandemic as it has attracted businesses, provided cost-effective solutions, enhanced convenience, contributed to urban development, diversified the commercial real estate sector, and stimulated economic growth. The novel concept of merging retail and office spaces within a single building or complex enables retailers to maximize their property usage while delivering numerous benefits to customers and businesses. That’s why the demand for SCO spaces are soaring high across India.

Filing income tax returns (ITR) can be a daunting task for many taxpayers. However, avoiding the common ITR filing mistakes is essential to ensure a hassle-free return filing.

Income Tax Return (ITR) filing Due Date Extension Latest News Updates (July 27): While a few taxpayers and tax professionals are still hoping for an extension of the July 31 deadline for ITR filing, the Government is reportedly firm on not extending the due date.

₹466.14 crore for the quarter ending June 2023. ACC Q1 net profit more than doubled from ₹227.35 crore in the corresponding period of last year. The company’s consolidated revenue in Q1FY24 increased 16.4% to ₹5,201.11 crore from ₹4,468.39 crore, YoY.

Emami Agrotech, the edible oil and food-manufacturing arm of Emami Group has passed on the benefits of the drop in global oil prices to its consumers by lowering the MRP on its popular edible oil brands Emami Healthy & Tasty and Himani Best Choice by 35-40% over a period of 12 months since July,2022 consistently, the company said in a media release issued on Thursday. The company monitors the MRP changes across the popular consumer pack of 1-litre pouch for the mustard, soyabean, rice bran and sunflower variants of Healthy & Tasty along with that of soyabean and palmolein variants of Himani Best Choice.

«So, we leave AI aside and look at climate change because that is something which we have been seeing incessantly increasing every year on year and India is no exception to that,» says Amjad Khan, Anand Rathi Insurance.We will definitely talk about the add-ons and how one should make their car monsoon ready. But with the monsoon that has already happened in major parts of India and damaging not just the property but other than that the cars as well. And we have seen across India that there were so many videos, so many footages of cars just going up in the way like a river and at this point in time just wanting to understand that what should a consumer or the car owner take in mind or consider in mind whenever they are stuck in such kind of a situation. What all things get covered in the insurance and what all not.So, yes, we have witnessed a lot of monsoon chaos in the last 10 years.

US commerce secretary Gina Raimondo said on Wednesday that the Joe Biden administration is seeking to carefully target US controls on exports to China, but rules will cost firms some revenue. Restrictions should not be so broad «that you deny American companies revenue and China can get the product elsewhere, or China can get the product from other countries,» Raimondo said at a forum.

₹40 lakh home. Going by analyst reports, not many developers want to build these homes anymore and buyers in large cities are not keen to buy them. While both the supply of and demand for affordable homes are shrinking, the mid-income and luxury segments are thriving.

New Delhi: The Indian government will consider Production Linked Incentive (PLI) scheme for the chemicals and petrochemicals industry as it pushes to become a manufacturing hub, finance minister Nirmala Sitharaman said on Thursday. "We are in favour of making India a manufacturing hub," Sitharaman said at Ficci’s Global Chemicals & Petrochemicals Manufacturing Hubs in India Summit. “We will consider PLI for chemicals and petrochemicals.".

Westlife Foodworld reported a smaller-than-expected rise in first-quarter profit on Thursday as higher expenses took the shine off increased sales at the operator of McDonald's restaurants in West and South India. The franchisee for the U.S. fast-food chain said consolidated net profit after tax rose to 288.3 million rupees ($3.52 million) for the quarter through June from 235.8 million rupees a year earlier.

asset management companies declined on Thursday, a day after Jio Financial Services, part of the Mukesh Ambani-led Reliance Group said it will form a joint venture with U.S.-based BlackRock Inc to launch services in India. HDFC Asset Management, UTI Asset Management and Aditya Birla Sun Life AMC fell between 0.75% and 2%.

Rajasthan polls are scheduled to be held on or before December 2023 to elect representatives 200 seats of the state's Legislative assembly. What started with an invitation to speak, and the fact that the Rajasthan CM would not be ‘able to welcome PM Modi’ to the state, elevated to red tomato and red diary barbs on both end. For context, red tomatoes have been selling at sky high prices all across the country causing many to give up on the botanical fruit, including burger chains like McDonalds.

Ceat Ltd. is hopeful of that a recovery in exports will spur its volume growth in FY24. Despite a weak European market, the company's management said during its Q1 FY24 earnings call, improvement in markets like the Middle East, Africa, and South Asia, alongside robust performance in the US and Latin America, offer optimism in the backdrop of likely tepid demand in the replacement markets.

Ujjivan Small Finance Bank reported a 59.7% rise in its net profit for the quarter ended June 2023 to ₹324.07 crore as compared to ₹202.94 crore in the same quarter last year. The bank’s net interest income (NII), which is the difference between interest earned and interest expended, during Q1FY24 increased 32.1% to ₹792.4 crore from ₹599.7 crore, YoY. Net interest margin (NIM) for the quarter declined 40 bps to 9.2% from 9.6%, YoY.

₹10,000 crore to buy back shares at a maximum price of ₹3,000. It was announced when the stock price was around ₹2,565, and by close on Wednesday, it had risen to ₹2,652. Hence, the offer was at a premium of 17% to market price.

Bharat Petroleum Corp is reportedly in talks with Russian oil major Rosneft to buy oil under a term deal as discounts on Russian oil are narrowing. According to a report by Reuters, Vetsa Ramakrishna Gupta, head of finance at BPCL said, “Yes, there were discussions happening with Rosneft but not yet concluded". BPCL is in talks to buy up to 6 million metric tons of Russian oil under a term deal with Rosneft, Reuters reported last month.