Experts Financial News

Mata Hari of her kind, but different in many other ways too. Sue Mi Terry, a native of Seoul South Korea, who now lives in Manhattan, used her position as a respected foreign policy expert and extracted or stole vital information. She spent more than a decade working as a secret South Korean agent and stole many information on many projects. But contrary to Mata Hari, the German spy during World War I, Sue Mi Terry, received luxury handbags, designer duds and meals at Michelin-starred restaurants.

superconductivity that promises zero resistance to electricity at room temperature continues to be the 'holy grail' of material science. It can be achieved technically by moving electrons as efficiently as possible. This is called improving electron mobility. The scientists at Massachusetts Institute of Technology (MIT) have made a breakthrough in the field but in a different way. They have increased the electron mobility or reduced the resistance to electricity by creating a thin film atom by atom using molecular beam epitaxy to lower the material’s number of impurities and defects.

Vegetable prices, especially potatoes, are likely to stay elevated in the near term, despite rapid progress of the monsoon, according to agricultural experts and economists. Heatwaves in several parts of the country this summer damaged crops, causing demand-supply mismatch, they say. Vegetable inflation remains a major concern for policymakers, reaching 29.3% in June, from 27.4% in May. The increase was broad-based, affecting both TOP (tomatoes, onions, potatoes) and non-TOP vegetables. «Prices of potatoes are expected to be firm for the next few months,» said an agricultural analyst, adding this year's shortage of the tuber is likely to be felt as early as October unlike the general trend of November and December.

Off the heels of last week’s announcement that Envestnet had agreed to be bought by Bain Capital for almost half a billion dollars, several advisors and industry experts are reflecting on what this, and other mega acquisitions, signal for the industry going forward.

Buying a new electric vehicle isn't the only way consumers can access a $7,500 federal EV tax credit. They may also be able to get the money by leasing a car.

U.S. filings for unemployment benefits rose again last week and appear to be settling consistently at a slightly higher though still healthy level

Income tax rebate under section 87A of the Income-tax Act 1961, is a tax benefit which reduces a taxpayer's net quantum of tax payable to nil if they meet the total income condition. It is given only to those taxpayers who have an income up to Rs 5 lakh under the old tax regime or up to Rs 7 lakh under the new tax regime. However, following an update in the ITR filing utility on July 5, 2024, experts have noted that many taxpayers were denied the benefit of tax rebate under section 87A if they had a special rate income. According to Anand Bathiya, president, Bombay Chartered Accountants' Society (BCAS), «Post 5th July 2024 the income tax return (ITR) filing utilities are not allowing the rebate under section 87A for various special rate incomes, including short-term capital gains on equity shares or equity oriented mutual funds taxable at 15% under Section 111A.»

₹12.2 trillion stuck in various tax squabbles, experts said. “Over the past seven years, India's tax framework has undergone significant reforms, yet a persistent challenge remains—the substantial amount of money entangled in litigation," said Saurabh Agarwal, a tax partner at EY, referring to the ₹12.2 trillion, as per data from previous budget documents. “This issue causes financial strain for both taxpayers, who must bear interest on pending liabilities, and the government, which is deprived of these funds for developmental purposes.

HDFC Defence Fund, the only active fund based on the defence sector, has offered more than 100% return in the last one year. The scheme gave 128.52% return in the said period. The scheme has offered around 60.16% return in 2024 so far and around 55.25% return in the last six months. What is helping defence sector based mutual funds deliver this stellar performance?

Siddhartha Sanyal, Chief Economist & Head-Research, Bandhan Bank, says there is no urgency on the part of the government or the finance ministry to cut down their projected fiscal deficit or the borrowing number at this moment, possibly they can afford to take a call on that at a later date. But in general, with the additional resources, they will start to allocate it in some ratio both for consumption and investment and not focus too much on cutting the fiscal deficit right away.

The Nifty future closed positive with gains of 0.08% at 24,641 levels on Tuesday. India VIX was up by 0.25% from 14.11 to 14.22 levels.

Competition law practice at law firm Trilegal Nisha Kaur Uberoi is set to join law firm J Sagar Associates (JSA) along with her team of 25 attorneys including two partners Harshita Singh Parmar and Pranav Satyam. An alumnus of the National Law School of India University and the National University of Singapore Uberoi has also worked with firms such as AZB & Partners and Cyril Amarchand Mangaldas. “This move will greatly enhance and consolidate the firm’s existing domain in Competition Law, and further bolster our market-leading corporate and disputes practices,” said Amit Kapur and Vivek K. Chandy, joint managing partners at JSA in a joint statement. “The addition of Nisha and her team to our existing practice in JSA is a testament to our commitment to meeting the complex antitrust and competition needs of our clients globally.”

Mumbai, India – 17th July 2024 – TaxBuddy, a leading provider of expert-assisted Income Tax Return (ITR) filing services, has announced the launch of its special "Filing Mahotsav" campaign. From 13th to 25th July, taxpayers can take advantage of a 25% discount on all assisted ITR filing services, making tax season more manageable and affordable.As the deadline for ITR filing approaches, TaxBuddy aims to ease the stress and complexity associated with tax filing by offering professional assistance at a reduced cost.

Mutual funds and stocks: If you already have investments in India such as mutual funds or stocks, you must update your KYC (know your customer) details to reflect your NRI status. You must update your KYC as per FEMA regulations to continue holding these investments legally. The required documents vary, depending on the investment type, and the process involves changing your status from resident to NRI and providing proof of your new status and foreign address.

NEW DELHI : With the taxman coming under fire for filing late appeals, experts say there is an urgent need for a strong tax dispute resolution mechanism to simplify litigation and ensure timely closure of the cases. On 10 July, Chief Justice of India D.Y. Chandrachud rejected the income tax department's appeal against a Delhi high court order in favour of Xerox India because the plea was filed 215 days late.

The U.S. has imposed sanctions on three Mexican accountants and four firms allegedly linked to a timeshare fraud ring run by the Jalisco New Generation drug cartel

Bolivia’s embattled president has announced the discovery of vast natural gas reserves just north of the capital, describing it as the biggest find in nearly two decades that could help the cash-strapped country reverse its falling production

aerospace major Pratt & Whitney on Wednesday announced the establishment of a new Customer Service Centre (CSS) in Bengaluru. As part of the company's India Capability Centre, the new facility will drive customer service and operations support for Pratt & Whitney Canada's 68,000 engines in service globally, the company said. Co-located with Pratt & Whitney's supply chain operations, engineering, and digital transformation centres of excellence in India, CSS will deliver a range of services such as MRO support, spare part management, engine leasing, engine reliability analysis and contract administration. The facility will employ over 150 aerospace experts and engineers who will support a global customer service ecosystem, it added.

Amazon Prime Day is here

budget in February said that improving the social and economic conditions of women was a priority area of the government. Experts say the full budget should take more steps in this area and announce measures to further this cause. Aparajita Bharti, Co-founder at TQH Consulting, a public policy consulting firm, says the idea should be to focus on programmes that tap into the potential for entrepreneurial ventures through credit opportunities, financial literacy and skill development. There is a need for a concerted focus on schemes and announcements that create enabling infrastructure like public toilets, working women’s hostels and creches for women; reduce and redistribute their unpaid care burden and improve last-mile connectivity; engender digital and financial literacy and skills for the future of work; and provide incentives for companies to hire and advance women in the workplace.

macro uncertainties. Such contractual revisions can potentially erode margins at these companies, experts say. At least three top IT firms – Infosys, Tata Consultancy Services, and HCLTech spoke about either changes in the scope of clients’ contracts or passing productivity benefits to clients by doing the same amount of work for lower price in the last two quarters.