UPS Financial News

Finance Minister Nirmala Sitharaman made no announcements regarding crypto taxes in the Budget, which the crypto industry views as a missed opportunity to support crypto startups and investors. «We had hoped the government would reduce taxation to align it with other asset classes. Unfortunately, this has not been addressed, representing a missed opportunity to support startups and investors in the crypto space,» said Ashish Singhal, Co-founder of Lemonn and CoinSwitch.

MakeMyTrip Ltd on Tuesday reported a profit of USD 21 million for the June quarter. The company said its June quarter profit included income tax expenses of USD 8.5 million due to a reversal of the deferred tax assets. In the first quarter of the last fiscal, the company had posted a profit of USD 18.6 million.

electric vehicles will be supported under the four-month Electric Mobility Promotion Scheme (EMPS) being implemented between April and July with an outlay of Rs 493.55 crore, the government said on Tuesday. Electric Mobility Promotion Scheme (EMPS) — 2024 will provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing ecosystem in the country. The maximum number of electric vehicles to be supported under the scheme stands at 3,72,215, including 3,33,387 electric two-wheelers, 13,590 e-rickshaws or e-carts and 25,238 electric three-wheelers in the L5 category, according to figures shared by the Ministry of Heavy Industries. «EMPS 2024 is fund limited, with restricted number of vehicles and a term-limited Scheme, i.e., the subsidies for demand incentive are eligible for e-2w and e-3w sold and registered until the funds are available or the number of vehicles supported reaches the maximum number defined category-wise (shown in para above) or until July 31, 2024, whichever comes first,» the ministry stated.

credit flow to the micro, small & medium enterprises (MSME) sector in the budget is likely to give a major thrust to digital lending startups.

liquidity as the budget proposed to reduce the holding period for long-term capital assets from 36 months to 12. This policy change makes REITs more attractive to investors by offering quicker access to favourable tax treatment on capital gains. The reduced holding period lowers entry and exit barriers, making investments in REITs more appealing and dynamic.

Budget 2024 presented today by the finance minister Nirmala Sitharaman, will impact the personal finance of individuals in multiple ways. Here's a round-up.

Union Budget 2024-25. Here is how the fund managers and mutual fund advisors decode the Budget announcement and what mutual fund investors should do.

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₹75,000 from the current ₹50,000. Second, income tax rates for those in the new tax regime—used by more than two-thirds of those filing income tax returns—have been revised. This will lead to savings of up to ₹17,500 during the year.

₹15,000—from the government, which will also give a cash incentive to employers and employees for their contributions to India’s state-run provident fund (PF) scheme. Further, the PF contribution of employers will be reimbursed up to ₹3,000 per month over two years for each additional employee hired. Broadly speaking, this proposal seems modelled on the production-linked incentive (PLI) scheme run by the Centre for manufacturers.

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ICICI Prudential Life Insurance Company Ltd. traded 0.81 per cent down at Rs 627.95 on Tuesday at around 01:49PM (IST), while the benchmark BSE Sensex declined 514.62 points to 79987.46. As many as 42,230 shares changed hands on the counter with a total value of Rs 2.64 crore.

Cholamandalam Investment & Finance Company Ltd. dropped 1.11 per cent to Rs 1386.45 at 01:29PM (IST) in Tuesday's trade. The scrip hit a high of Rs 1426.0 and low of Rs 1365.0 so far during the session. The stock had closed at Rs 1402.15 in the previous session. The counter had a total traded volume of 01:29PM shares so far with a turnover of Rs 1.42 crore on BSE. The stock traded at a price-to-earnings multiple of 33.75 and a price-to-book ratio of 4.96.

Shauna Sharpes doesn’t travel and grows much of her own food at her home in western Washington state. The payroll manager for a local Native American tribal authority has meager savings and expects she will have to keep working for at least the next decade. Part of her challenge: She turned 60 in January, putting her at the tail end of a baby boom generation that is hurtling toward retirement age in uncertainty.

Bihar assembly was adjourned twice on Tuesday as opposition members stood in the well of the House and tried to upturn furniture, raising slogans against the Centre's refusal to grant special status to the state. Members of RJD, Congress and the Left had reached the House, carrying placards with slogans like «shame on anti-Bihar BJP». Adding a dash of humour, a few of them also held rattles meant for children to underscore that the Centre, after having denied the state its due, was offering a «jhunjhuna» by speaking of special package and other types of help.

deduction under Section 80C has not been hiked by the finance minister in Budget 2024. An individual will be able to claim deduction of up to only Rs 1.5 lakh under this section in a financial year provided he/she opts for the old tax regime in a financial year. The new tax regime does not allow Section 80C deduction.

income tax slabs in the new tax regime for the current financial year 2024-25 in her budget speech. This is the first budget of Modi government in the third term.

Crompton Greaves Consumer Electricals Ltd. fell 2.37 per cent to Rs 423.8 in Tuesday's trade as of 01:55PM (IST) even as the benchmark Nifty ruled at 24381.55, down 127.71 points. The scrip had closed at Rs 434.1 in the previous session. The stock quoted a 52-week low of Rs 262.1 and a high of Rs 441.95. The company quoted a market-cap of Rs 27237.9 crore on the BSE.

jobs and empower youth with skilling, Finance Minister Nirmala Sitharaman announced a Rs 2 lakh crore package under the Prime Minister scheme to incentivise job creation in the country, skill two million youth, provide education loan of up to Rs 10 lakh for higher education in domestic institutions and enable internship opportunities to 10 million youth over next five years.

Andhra Pradesh Minister Nara Lokesh on Tuesday welcomed the Central government's budgetary proposals providing support to Amaravati and Polavaram Irrigation project. «Thanks to the Central government which announced that it will provide full support for the completion of the projects of Amaravati, the capital of Andhra Pradesh, and Polavaram project, the lifeline of AP.