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Budget 2024 later this month, the Department for Promotion of Industry and Internal Trade (DPIIT) has recommended the removal of the contentious Angel Tax for startups ecretary Rajesh Kumar Singh said Thursday. He also said the department has proposed phasing out of the inverted duty structure and high tariff on inputs in sectors such as electronics. Section 56(2) VII B of the Income Tax Act, also known as angel tax, which was introduced in 2012, as an anti-abuse measure aimed at tax avoidance. It’s levied above a rate of 30%. “Based on consultations with the startup ecosystem we had, we have recommended that in the past as well, we have recommended this time also,” Singh said.

Shipping, and Waterways (MoPSW) has approved a research proposal on 'Valorization of Dredged Sediments'. According to a statement by the ministry on Saturday, the project has been sanctioned at an estimated cost of Rs 46,47,380. The 'Valorization of dredged sediments' is the reuse of sediments as raw material for civil engineering and other purposes. It can be a sustainable solution to reduce the strain on natural resources and eliminate waste.

market likely to consolidate on Friday tracking muted global cues. The Nifty future closed positive with gains of 0.10% at 24375 levels on Thursday. India VIX was down by 2.90% from 13.20 to 12.82 levels.

Paytm) on Monday surged a little over 9% to the day’s high of Rs 477, rising closer to the Rs 500 level after it hit a 52-week low of Rs 310 in May. The stock fell 20% for two consecutive days after January 31, when the Reserve Bank of India imposed restrictions on Paytm Payments bank including accepting fresh deposits and doing credit transactions. On March 11, the RBI barred Paytm Payments Bank from onboarding new customers.

portfolio investor Raselle Capital VCC has settled a case related to the alleged violation of FPI rules with capital markets regulator Sebi after paying Rs 1.23 crore as settlement charges. The order came after Raselle Capital proposed to settle the instant proceedings initiated against it without «admitting or denying the findings of facts and conclusions» of the law. The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the applicant (Raselle Capital VCC) for the alleged violations of Sebi's Foreign Portfolio Investors (FPI) rules and other market norms.

budget presentation will commence at 11 am in the Lok Sabha.The Union budget will be broadcast on the official channels of the Parliament, Doordarshan, and Sansad TV. It will also be streamed on the government's official YouTube channels.Digital access to the budget documents will be provided on the Union government's official web portal, www.indiabudget.gov.in.

Small businesses will launch over 3200 new products on Amazon across categories like home and kitchen, fashion and grooming, jewelry and handmade products on Prime Day on July 20 and 21 this year. A host of small businesses will be participating in the shopping event on Amazon. “During the two days of the event, sellers will not only get a massive boost in the visibility of their products and brands but also directly access Amazon’s vast customer base across India, spanning 100% of serviceable pin codes. Through such shopping events, our aim is to enable small and medium businesses to embrace the power of e-commerce and unlock new avenues for their success, fostering a vibrant online marketplace that contributes to the larger economic growth of India,” Amit Nanda, Director, Selling Partner Services, Amazon India said in a statement. Small and medium businesses can leverage a robust suite of tools and features available on Amazon to gear up for Prime Day 2024. A streamlined self-service registration process makes it easy for sellers to get started on the Amazon marketplace, with multi-language support, easy registration and invoicing. Sellers can use the Sale Event Planner to opt-in and offer great deals during Prime Day.

All India Loco Running Staff Association's South Zone president said Saturday loco drivers handed a memorandum to Leader of the Opposition in the Lok Sabha Rahul Gandhi, blaming poor working conditions for recent train accidents. R Kumaresan, who played a crucial role in organising the interaction between the former Congress president and the loco pilots at the New Delhi railway station on Friday, told PTI that they wanted to bring to Gandhi's attention «serious safety issues» faced by drivers and passengers in the Railways. «Recent accidents, including collisions in Indian Railways, apart from other issues, have brought forth the urgent necessity to resolve the working conditions of loco pilots since it is said that there is human failure,» the association said in the memorandum. Highlighting the plight of train drivers, the note said loco pilots, especially those who drive goods trains, work 14 to 16 hours a day and get to go home after three or four days.

Trent Ltd. rose 0.35 per cent to Rs 5616.0 in Friday's trade as of 01:29PM (IST) even as the benchmark Nifty ruled at 24250.8, down 51.36 points. The scrip had closed at Rs 5596.3 in the previous session. The stock quoted a 52-week low of Rs 1657.25 and a high of Rs 5643.85. The company quoted a market-cap of Rs 199715.96 crore on the BSE.

If you sympathise with these feelings, then we invite you to go through this article where we have curated a list of the best moisturisers for dry skin in India. These moisturisers are used by thousands of people who have showered them with love in their review and comment section. We have picked up only the best and you can find the winner yourself.

Early stage entrepreneurs are happy about the possibility of the tax going away. “This move will be a game-changer for both early-stage startups and investors," said Bharat Joshi, co-founder of Bengaluru-based fintech startup VuNet Systems, adding that the move could foster a more conducive and positive environment for innovation and growth, and unlock greater opportunities for entrepreneurs.

HDFC Bank, Morgan Stanley has an underweight rating on RBL Bank, Goldman Sachs has a buy call on L&T, and Antique has downgraded Ramco Cements. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

shipbuilding and repair policy under the 100-day action plan, a top government official said on Thursday. Maritime India Vision 2030 (MIV 2030) aims to move India's shipbuilding and ship repair ranking into the top 10 globally while Amrit Kaal Vision 2047 sets an even more ambitious goal of reaching the top five. «The MoPSW (Ministry of Ports, Shipping, and Waterways) is steadfast in its commitment to revitalise the shipbuilding and repair industry in India.

ACC Ltd. traded 0.09 per cent down at Rs 2767.7 at 01:39PM (IST) on Wednesday, even as BSE benchmark Sensex gained 528.79 points to 79970.24. The scrip had settled at Rs 2770.3 in the previous session. The stock quoted a 52-week high price of Rs 2843.0 and 52-week low of Rs 1763.25, respectively. As per BSE data, total traded volume on the counter till 01:39PM (IST) stood at 10895 shares with a turnover of Rs 3.02 crore.

Income Tax Department has released common Frequently Asked Questions (FAQs) faced by taxpayers during filing their returns for AY 2024-25. Here some of the important FAQs as per the tax department’s website.

coal sector has registered a growth of 10.2 per cent among all eight core industries of the economy in May, the government said on Thursday. The index of coal industry has reached 184.7 points during May as compared to 167.6 points during the same month last year. «The coal sector has demonstrated highest growth of 10.2 per cent (provisional), following the electricity industry among the eight core industries for the month of May, 2024 as per the Index of Eight Core Industries (ICI)) (Base Year 2011-12) released by Ministry of Commerce & Industries,» the coal ministry said in a statement. The driving force behind growth can be attributed to a considerable rise in coal production during May. This increase in production underscores the sector's capacity to meet growing demand of energy and manufacturing industries.

mutual funds invest most of their corpus in the large and mid cap stocks. As per the Sebi mandate, large & mid cap schemes are open-ended equity schemes that invest a minimum of 35% of total assets in large cap companies, and a minimum of 35% of total assets in mid cap stocks. However, this definition does not tell the whole story about the large & mid cap category. Consider this: The 35% mandatory investments in mid cap stocks make them risky. However, they are less risky than pure mid cap schemes that invest around 65% in mid cap stocks. Also, the 35% investments in large cap investments offer them some stability. But they are riskier than pure large cap schemes. Then there is the question of the remaining 30% of the corpus. The fund manager has the option to decide where the money will be invested. If he thinks the large cap space is attractive, he may invest in large cap stocks. If he thinks mid cap and small cap stocks are poised to take off, he may invest in them. As you can see, these investments may increase or decrease the risk in these schemes.

Rescuers assisted by divers from Nepal's security forces on Saturday resumed the search for over 50 people, including seven Indians, still missing after two passenger buses were swept away by a mudslide into a rain-swollen river in the Himalayan nation. The two buses carrying 54 passengers went missing in the Trishuli River in the landslides at the Simaltal area along the Narayanghat-Mugling road in Chitwan district. Earlier, it was reported that there were more than 60 people on board the two buses. The Nepali Army, Nepal Police and armed police personnel along with deep divers are being mobilised to resume the search operation, according to the Nepal Police.

Shree Cements Ltd. traded 0.75 per cent down at Rs 27461.6 at 01:50PM (IST) on Wednesday, even as BSE benchmark Sensex gained 539.07 points to 79980.52. The scrip had closed at Rs 27671.8 in the previous session. The stock quoted a 52-week high price of Rs 30710.15 and 52-week low of Rs 23023.05, respectively. As per BSE data, total traded volume on the counter till 01:50PM (IST) stood at 162 shares with a turnover of Rs 0.45 crore.

GAIL (India) Ltd. traded 0.72 per cent down at Rs 220.0 at 01:55PM (IST) on Wednesday, even as BSE benchmark Sensex gained 535.18 points to 79976.63. The scrip had closed at Rs 221.6 in the previous session. The stock quoted a 52-week high price of Rs 233.0 and 52-week low of Rs 104.7, respectively. As per BSE data, total traded volume on the counter till 01:55PM (IST) stood at 220556 shares with a turnover of Rs 4.88 crore.

lifetime high of 24,236 but formed a small-bodied bearish candle on the daily scale. “Now, it has to hold above 24,000 zones to extend the move towards 24,250 and 24,400 zones, whereas supports are placed at 23,900 then 23,750 zones,” said Chandan Taparia Senior VP, Equity Derivatives & Technicals, Broking & Distribution at Motilal Oswal.