COST Financial News

infotech counters while giant tech companies are leading a global run-up in equities. Management commentary points to a slowdown in discretionary demand for Indian IT services by companies in the US and Europe, and revenue and profit guidance is sombre. Hiring has frozen up, and the scenario is expected to persist.

₹2.5- ₹3.6 lakh annual salary in Indian IT companies after getting their B.Tech degrees (see graphic). The payoff is much higher for IT jobs abroad. According to the US department of labor, a software developer’s median annual earnings in the US is $121,001, or nearly ₹1 crore at current exchange rates.

Is there any exemption on house rent in income tax’s new regime for assessment year (AY) 2024-25? —Dilip Saksena Under the new tax regime (applicable for AY2024-25), with respect to let-out house property, a taxpayer can claim deduction of municipal tax paid from the gross rent to arrive at the annual value of the let-out property. Further, deduction of 30% of the annual value and interest payable if any towards housing loan also continues to be available for determining the income from house property.

NEW DELHI : Retail milk prices that have shot up nearly 22% in three years, including about 10% in the last one year, are expected to increase further in the coming three-four months as feed and fodder prices are on the rise amid the monsoon deluge. The prices of de-oiled rice bran (DORB), a key ingredient in cattle, poultry, and fish feed, have increased sharply to ₹18,000-18,500 a tonne from ₹15,000 per tonne in the last few weeks. Maize, a major feed grain and a standard component of livestock diets, is being sold at ₹24,500 a tonne in Tamil Nadu’s Erode, a 20% increase in one month, people in the know in the spot trade said.

British government officials describe the Tata Group’s decision to build an electric-car battery factory in the UK as a “major vote of confidence" and a huge boost for the country’s auto industry, saying it will create thousands of jobs and help drive economic growth. For once, the hype may be partly justified. The significance of the £4 billion ($5.2 billion) project by the Indian conglomerate that owns Tata Motors should not be underestimated, though it is more of a lifeline for domestic carmakers in the UK rather than their crowning glory.

₹10 lakh in today’s money. Today, for half that amount, you can get a first-class return ticket on a Mumbai-New York flight. Billionaires who undertake outlandish space and marine missions are pioneers who pave the way for the same adventures to become mass market.

real estate services firm CBRE in the March-ended quarter found that 96% of businesses expected employees to work at least three days a week at office once stability returns, up from 91% last year. Around 40% hoped to have work-from-office fully. A survey by Unispace found 92% of employees expect to work at least four days a week in the office in the near future.

₹60 trillion every year. Of this, around 50% of household savings is invested in real estate and about 15% each in bank fixed deposits (FDs) and gold. Many investors prefer the safety and comfort of physical gold even though there are alternatives to this asset class in the form of gold funds and sovereign gold bonds.

₹6,000-7,000 crore in FY24/25. It is expected to announce the next phase of growth plan this year. The pace of capacity additions and ramp-ups to gain market share is crucial, as competition worries have risen following Adani Group’s entry into the sector.

Russia «deliberately aimed their missiles at the historic city center of Odesa» which is protected by the United Nations Educational, Scientific and Cultural Organisation (UNESCO), said Oleh Kiper, the head of the region's military administration. «Everything that was built with hard work by great architects is now being destroyed by cynical inhumans,» said Kiper. The largest church in the city, the Orthodox Transfiguration or Spaso-Preobrazhenskyi Cathedral, which was dedicated in 1809, is among the destroyed structures.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades at Yelp, Carnival, Cisco, and Harley-Davidson, and a downgrade for Carvana.

By David Randall

Harley-Davidson and Triumph have surprised the industry by introducing their most affordable models globally in India, the largest motorbike market by sales. To achieve these competitive prices, they are now producing the bikes within India through domestic partnerships, bringing down the costs to below 233,000 rupees ($2,841).

Tata Steel, India's largest steelmaker, is scheduled to announce its first-quarter results for FY2024 in this week. Analysts are expecting the company to report strong earnings growth, driven by robust sales and margin expansion. Tata Steel is expected to report strong earnings growth in the first quarter of FY2024, driven by robust sales and margin expansion.

PS5 will soon receive its most significant discount to date. Japanese tech giant Sony has announced a flat discount of ₹7,500 on the PlayStation 5 disc version in India from July 25 to August 7. This promotion will be available at all participating retailers.

Investing.com — The week will be dominated by central bank meetings, with the Federal Reserve and the European Central Bank both poised to deliver rate hikes, while the Bank of Japan stands pat. A rally in U.S. equities markets faces an inflection point and oil looks set for more gains amid concerns over the supply outlook.

Investing.com — It’s here: the week traders across markets have been waiting for; one that will tell if the Federal Reserve is done with its 16-month adventure of taming inflation with rate hikes and allowing economic forces to do the job after this — a move that could still lead to higher energy prices, complicating matters for the central bank.

(Reuters) -Elon Musk said on Sunday he was looking to change Twitter's logo, tweeting: «And soon we shall bid adieu to the twitter brand and, gradually, all the birds».

Tour de France reaches its thrilling conclusion with stage 21, fans worldwide are eager to witness the riders' final journey into Paris. There are numerous options available for free live streams, complete with commentary in English, Spanish, Italian, and French. Stage 21, today's procession race event, starts from Saint-Quentin-en-Yvelines, covering a relatively short 115 km route to Paris, culminating at the iconic Champs-Élysées finish line. Due to the shorter distance, the race is scheduled for a much later start at 4:30 p.m. local time, with an estimated arrival in Paris three hours later. Jonas Vingegaard leads the pack, firmly holding the yellow jersey after an impressive performance in the previous stage, securing a dominant overall lead of nearly seven and a half minutes.

New Delhi: More corporate filings are being made in the revamped version of the MCA21 portal this year than in the year before, the ministry of corporate affairs said in an official update. Since the beginning of April 2023, upto 16 July, over 168,600 forms for incorporating companies have been filed, which is higher than the previous year's count of 148,188 in the same period, the ministry said.

Retirement is a phase of life that should be cherished, just like running a marathon. It’s a time filled with possibilities and opportunities. As you transition into this new chapter, it’s important to adapt lessons from other areas of life, such as long-distance running, into your financial planning.