Experts Financial News

The rise of digital payments in India has been revolutionary, fueled by technological progress and government efforts to promote cashless transactions and financial inclusion. Government initiatives like the 2016 demonetisation, aimed at reducing black money and encouraging cashless transactions, gave a significant boost to digital payments. Moreover, the introduction of the Unified Payments Interface (UPI) by the National Payments Corporation of India (NPCI) transformed the digital payment scene. Today, India boasts one of the world's most advanced digital payment systems. 

Shares of Biocon fell over 6% to Rs 250.3 in Friday's trade on BSE after the firm said that its chief financial officer (CFO), Indranil Sen has resigned with effect from 15 March 2024. Indranil Sen has resigned to pursue opportunities outside the organization. He was relieved from his duties by the close of business hours on 14 March 2024, according to the company's regulatory filing.

advance tax payment liabilities have been facing problems of wrong or inflated incomes being shown in their Annual Information Statements (AIS). Taking cognisance of this issue, the Central Board of Direct Taxes (CBDT) has asked the taxpayers to wait for the updated data to be reflected on its 'AIS Compliance Portal' as certain financial data related to stock market and mutual fund transactions are being updated. «Data pertaining to Information categories 'Sale of securities and units of mutual fund', 'Purchase of securities and units of mutual funds', 'Off market credit transactions' & 'Off market debit transactions' is being updated. Kindly wait for the updated data to be reflected on the portal,» CBDT stated on the AIS Compliance Portal website. Since the fourth instalment of advance tax for individuals is due on March 15, 2024 for FY 2023-24, many individuals might be worried if they would be penalised if there is a discrepancy. Experts suggest that there is no need to be anxious about paying advance tax on such inflated/wrong transaction value data on AIS.

BSE on Friday, March 15, defying an overall downtrend in the market. IRB Infrastructure share price opened at ₹56.10 against the previous close of ₹56.07 and soon jumped 7.5 per cent to hit the level of ₹60.29. It, however, pared gains and traded around 3.58 per cent higher at ₹58.08 around 10:15 am.

A cockpit seat mishap might have pushed a pilot into the controls on a Boeing 787 Dreamliner that took a sudden, terrifying plunge on a flight to New Zealand this week, according to U.S. industry officials briefed on preliminary evidence from an investigation of the incident. A Latam Airlines flight attendant hit a switch on the pilot’s seat while serving a meal, leading a motorized feature to push the pilot into the controls and push down the plane’s nose, these officials said.

income tax amount that is required to be paid in installments according to specified due dates, rather than in a single lump sum. Both individuals and businesses are obligated to pay income tax in advance through periodic installments, rather than in one consolidated payment. June 15: Pay 15% of the advance tax.

Buy or sell stocks: After a worst selloff in the previous session, the Indian stock market witnessed some recovery on Thursday. The Nifty 50 index gained 148 points and finished at 22,146 level, the BSE Sensex shot up 335 points and ended at 73,097 level whereas the Bank Nifty index lost 191 points and closed at 46,789 mark. In the broad market, the small-cap index shot up 3.11 percent while the mid-cap index scaled 2.28 percent.

Indian stock market can utilise several income tax planning strategies to increase their returns. Long-Term Capital Gains (LTCG) TaxIn India, long-term capital gains tax applies to gains from the sale of listed equity shares and equity-oriented mutual funds held for more than one year. Mumbai-based tax and investment expert Balwant Jain suggested holding equity investments for at least one year to benefit from the favourable LTCG tax rate of 10%.

By Brendan Pierson

companies undergoing business reorganisation such as amalgamation, merger or demerger, the Central Board of Direct Taxes (CBDT) has allowed them to file modified returns of income with an extended deadline. Companies undergoing business reorganisation, particularly those involved in schemes of amalgamation, merger, or demerger or succession post insolvency sanctioned by competent authorities, after June 2016 but prior to April 1, 2022, may now file modified return up to June 30, CBDT said in an order issued on Thursday. Experts said the CBDT decision underscores the government's commitment to a business-friendly ecosystem as it brings relief to companies whose reorganisation orders were issued before the implementation of the Finance Bill 2022.

There is an interesting statistic that everyday 1500 Bitcoin wallets become millionaire wallets following the surge of Bitcoin to over $73,000. Let’s dive into why the surge happened and what other coins can secure you the millionaire status.

₹4,000 crore or global revenue of over $30 billion, and with over 10 million end-users or 10,000 business users in India. Nine ‘core’ services have been identified, including search engines, social networks, browsers and e-commerce aggregators. The bill does not allow for bundling of services, self-preferencing, restricting third-party apps or data cross-sharing, among other mandates.

Investing.com — Just as the market was beginning to think bank failures were a thing of the past, a full year after the Silicon Valley Bank collapse, issues with New York Community Bancorp (NYSE:NYCB) last week raised the alarm that a new slew of problems for the smaller players could be percolating underneath the surface.

Scheme 2024 shows the government's continued thrust on vehicle electrification as it is indispensable on a long-term basis to fortify the case for an EV ecosystem, industry experts said on Thursday. Ministry of Heavy Industries has announced the new scheme to promote e-mobility in the country with an outlay of Rs 500 crore for four months beginning April 2024. The new scheme is for 2-wheelers and 3-wheelers. Commenting on the government's decision, Srikumar Krishnamurthy, Senior Vice President and Co-Group Head — Corporate Ratings, ICRA said the scheme is a favourable move towards the acceleration of the electrification pace in the country. «The EMP scheme reflects the government's continued thrust on vehicle electrification, although the quantum of subsidy is seen lower in line with expectations,» he said.

James Davies has had a long innings at Deutsche Bank. He joined Deutsche in 2000 as a self-described «earnest young lawyer» in London, and he's leaving 24 years later after his most recent stint as chairman of the investment and corporate banks' American executive committee in New York.

Stock market today: Gopal Snacks shares today listed on the Indian exchanges at a discount of nearly 12.50 percent. However, the newly listed stock went further down and touched an intraday low of ₹341.80 apiece on the NSE and ₹342 on the BSE. However, Gopal Snacks share price witnessed buying interest at the lower levels, which triggered a strong bounce-back in the newly listed stock.

BSE Midcap and Smallcap indices concluded with robust upticks of up to 3 per cent, underscoring a widespread positive sentiment across the market. The Indian stock market resumed its upward march despite mixed global cues. Experts believe that institutional investors strategically accumulated quality stocks following a recent correction, underscoring their confidence in the domestic market's resilience.

LiveMint talked to experts to understand under what circumstances a person who has taken travel insurance would be allowed to get a full refund of their return tickets. According to Manas Kapoor, business head of Travel Insurance at Policybazaar.com, travellers can get a full refund in the case of a medical emergency.

In the wake of unprecedented global challenges, India’s residential real estate sector has shown remarkable resilience, laying the foundation for a promising 2024. Despite the challenges posed by the global pandemic and various economic uncertainties, early indicators suggest that 2024 could emerge as a resilient and promising year for the industry.

₹1369.65 in intraday trade on BSE on Thursday, March 14. Bata India share price opened at ₹1,389 against the previous close of ₹1,404 and declined 2.4 per cent to hit its 52-week low. The stock, however, pared its losses later and traded 0.28 per cent lower at ₹1,400 around 1:25 pm.

Yes Bank shares have been in an uptrend since the early morning session. Yes Bank share price today opened flat at ₹20.95 apiece but soon attracted the attention of the Indian stock market bulls. Within a few hours, Yes Bank share price ascended to a new intraday peak of ₹22.75 apiece on NSE, logging an intraday rise of 8.5% during Thursday deals.