Experts Financial News

House Rent Allowance (HRA) is a portion of your salary that is not fully taxable, unlike your basic salary. Subject to specific conditions, a portion of the HRA is exempted from taxation under Section 10 (13A) of the Income-tax Act, 1961. The amount of HRA tax exemption is deducted from the total salary before calculating the taxable income. This helps employees save on taxes. However, it's important to note that HRA received from the employer is fully taxable if the employee lives in their own house or does not pay any rent. Also read: HRA tax exemption: HRA fraud with illegal usage of PANs detected by tax dept; how to avail House Rent Allowance, proofs

committee recently discussed a proposal to reclassify promoter or promoter group entities in publicly listed companies. After debate, the panel rejected it. A look at what it means: What are the existing provisions for promoter reclassification?

«We had, of course, after seeing multiple roadshows, we collected close to about 2,500 crores of AUM, I mean, in excess of 2,400 crores and coming from about 1,20,000 investors and coming from about 13,000 roughly is the pin code, which is nothing but a reflection of the wider participation coming from across the country,» says A Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC. I just want to start by understanding a bit about this NFO and the role the entire distribution space has played in its success. What kind of contribution have we seen from digital partners? A Balasubramanian: I think the NFO was a great success.

Union Budget 2024 announcements may include continued focus on renewable energy by the Narendra Modi government, industry players have said, as they expect policy stability and investment in the sector. «From budget what we expect that there are certain areas on which we need to focus. We have seen in budget what is required for the sector. One is the policy stability is very important because there should not be any fear because today we invest, project takes 18 months to 24 months, so policy stability is one key which we expect,» Sharad Mahendra, Joint MD & CEO, JSW Energy told ETNow in an interview. «One is the policy stability is very important because there should not be any fear because today we invest, project takes 18 months to 24 months, so policy stability is one key which we expect. And boost the renewable energy investment, that is also very-very important because the kind of investment which is required to add almost 40 to 50 gigawatts every year is huge,» Mahendra added.

Big law firms and legal experts from major banks are making a bold move into the crypto industry, aiming to capitalize on its lucrative potential.

On the options front, the maximum Call OI is placed at 24,200 and then towards 24,000 strikes, while the maximum Put OI is placed at 24,000 and then towards 23,800 strikes.

Nifty's beginning of the July series may have been on slippery wicket, its end in the corresponding month over the last ten years are skewed in favour of the bulls. The 50-stock index has settled positive on nine occasions with highest monthly returns of nearly 9% in 2022. The next highest returns were yielded in 2020 at 7.5%, followed by 2018, 2017 and 2016 when the returns were nearly 6%, 6% and 4%, respectively. In July 2023 and 2021 the returns were 1.44% and 0.26% and Nifty fell nearly 6% in 2019.

₹12 lakh and ₹20 crore can apply for FSSAI state licence. But for exports, spice manufacturers would need an FSSAI central licence. India cultivates a wide variety of spices, including black pepper, cardamom, cinnamon, cloves, turmeric, ginger, and more.

The CNX 500 saw some participation but Mid-cap, Small-cap and other broad-based indices were muted. The recent participation was mainly due to Reliance, ICICI Bank and HDFC Bank. Hence, it was a concentrated move of the Nifty 50 Index that was adding to the recent surge.

investment?

electoral bonds to make political donations potentially face questions from tax authorities on deductions that were made on these contributions with the Supreme Court having scrapped the scheme in February. A few companies have already received notices for deductions claimed for political contributions made through electoral bonds, people familiar with the development told ET.

criminal laws are to be implemented across the country from July 1, Union Minister Arjun Ram Meghwal said on Sunday that the three laws were necessary given the developments in technology and forensic science.

Oil India and Vertoz Advertising, along with several other companies, are expected to remain in focus this week as they approach their record dates for bonus issues, stock splits, buybacks, and demergers. The record date is set by the company to determine which shareholders are eligible to receive the offer. To qualify for a buyback offer, bonus issue, or stock split, shares must be held in the Demat account on the record date.

parliamentary elections that could see the country's first far-right government since the World War II Nazi occupation — or no majority emerging at all.

3M India, M&M, Tata Communications, Apollo Tyres, and several other companies are expected to remain in focus this week as they approach their record dates for dividend payments. Dividends are paid to shareholders whose names appear in the company's database on the record date. Following the implementation of the T+1 settlement framework, the record date and ex-date are typically the same in most cases, barring any market holidays immediately after the ex-date.

White House had a tough time answering questions pertaining to the US President’s performance during the first US Presidential debate. Joe Biden appeared to be lackluster and being unable to convince the voters to give him a second term in office. Experts pointed out that the incumbent president lacked energy, had a weak tone and tenor and was uninspiring during the entire course of the debate. Meanwhile, the White House also dismissed suggestions to replace Biden as the official nominee of the Democratic party in the upcoming US Presidential Election. The main point which has been attributed to Biden’s ‘disastrous’ performance was a ‘cold’.

Dharmendra Pradhan on Saturday slammed the Congress, saying it wants to run away from a discussion in Parliament over the NEET exam issue. His remark came a day after Leader of Opposition in the Lok Sabha Rahul Gandhi urged Prime Minister Narendra Modi to hold a «respectful» and good discussion in Parliament on the issue of alleged irregularities in the conduct of the NEET exam. Replying to a question on the opposition targeting the BJP-led Centre over the NEET exam issue, Pradhan said, «The Congress does not want a discussion. It wants to run away from the discussion. It's only intention is to create chaos, confusion and create obstacles in smooth functioning of the entire institutional mechanism.» He said the president had also talked about the NEET exam issue, being raised by the Congress, in her address in Parliament.

astronomers and sky enthusiasts are gearing up for an extraordinary celestial event as the "Planet Killer" asteroid 2011 UL21 makes a close approach to Earth. Estimated to be one of the largest asteroids of its kind, with a diameter of approximately 2.5 kilometers, it orbits the sun every three years. Despite its size, it will pass by Earth at a safe distance of 4.1 million miles, which is about 17 times farther than the distance to the moon. Recent observations by astronomers in South Africa have identified the asteroid known as 2024 MK, a celestial object that has captured attention due to its potential impact risks. Discovered just weeks ago, this asteroid measures significantly smaller than the mountain-sized 2011 UL21 asteroid that recently made headlines. Despite its smaller size, experts warn that 2024 MK could still cause «considerable damage» if it were to collide with Earth, according to assessments by the European Space Agency and MIT Technology Review. An asteroid about its size could wipe out a city, according to the MIT Technology Review. When the mountain-sized asteroid was discovered in 2011, it was classified as «potentially hazardous.» An asteroid its size would have «worldwide effects» if it collided with the Earth, according to NASA.

Sanjay Manjrekar is «not concerned» about misfiring Virat Kohli's form as he believes the overall momentum and form of the team is far more important ahead of the T20 World Cup final against South Africa. India's stalwart batter has struggled to boss around the bowlers just like he did while opening for the Royal Challengers Bengaluru in the Indian Premier League (IPL) 2024. Since touching down in the USA and the West Indies for the marquee event, Kohli has been enduring a nightmare, chasing shadows of his former self and searching for runs from his bat throughout the marquee event.