Axis Bank posted a net profit of ₹6,035 crore for the first quarter of fiscal year 2025, compared with ₹3,452 crore in the corresponding period last year. On top of that, this income statement had been standing higher compared to the expectations of eight brokerages, which estimated a net profit of ₹5,797 crore. Sequentially, though, […]
Axis Bank Q1 Net Profit spurts to ₹6,035 crore Read More »
Petronet LNG Limited reported a consolidated net profit of ₹1,100.76 crore for the first quarter of the financial year 2024-25, marking a 34% increase compared to ₹819.28 crore in the same period last year. The significant profit growth was also reflected in a nearly 50% rise from the previous quarter’s ₹734.07 crore. The company’s revenue
Petronet LNG Q1 Net Profit Surges 34% to ₹1,100 Crore, Revenue Climbs Read More »
Finance Minister Nirmala Sitharaman announced several incentives for the International Financial Services Centre (IFSC) in the 2024 budget to enhance its competitiveness and attractiveness. Retail schemes and Exchange Traded Funds (ETFs) in IFSC will enjoy tax exemptions similar to those available to specified funds. Certain income of the Core Settlement Guarantee Fund set up in
Incentives for IFSC Announced in 2024 Budget Read More »
The 2024 budget introduced significant changes to the taxation of share buybacks and securities transaction tax (STT) on futures and options (F&O) transactions. Income from the buyback of shares by companies will now be chargeable in the hands of the recipient investor as a dividend, replacing the current regime where additional income tax is levied
New Tax Rules for Share Buybacks and STT on F&O Announced Read More »
Finance Minister Nirmala Sitharaman presented the budget estimates for the fiscal year 2024-25, detailing the government’s financial plans and projections. The total receipts for FY25 are estimated at ₹32.07 lakh crore, while total expenditure is projected to be ₹48.21 lakh crore. Net tax receipts are expected to reach ₹25.83 lakh crore. Gross market borrowings are
Budget Estimates for 2024-25 Announced Read More »
Finance Minister Nirmala Sitharaman announced substantial provisions for the agriculture and allied sectors in the 2024 budget, focusing on infrastructure, research, and farmer support. A provision of ₹1.52 lakh crore has been allocated for the agriculture and allied sectors. To enhance agricultural research, 10,000 bio-research centers will be established nationwide. Over the next two years,
Budget 2024 Highlights: Major Boost for Agriculture in 2024 Budget Read More »
Finance Minister Nirmala Sitharaman unveiled several measures aimed at supporting Micro, Small, and Medium Enterprises (MSMEs) in the 2024 budget. These initiatives are designed to provide financial relief and enhance market access for small businesses and traditional artisans. A new mechanism will facilitate the continuation of bank credit to MSMEs during periods of financial stress,
New Support Measures for MSMEs Announced in 2024 Budget Read More »
Finance Minister Nirmala Sitharaman announced significant cuts in customs duties in the 2024 budget, aimed at boosting manufacturing and reducing costs for key industries. The customs duties on gold and silver have been reduced to 6%, while the duty on platinum has been cut to 6.4%. In a move to support the tech and renewable
Budget 2024 Key Highlights: Custom Duties Reduced in 2024 Budget Read More »
Finance Minister Nirmala Sitharaman announced a revision to the tax rate structure under the new income tax regime in the 2024 budget. The changes are expected to result in significant savings for taxpayers, with an estimated ₹17,500 reduction in income tax for eligible individuals. The new tax slabs are as follows: “This revised tax structure
Budget 2024 Key Highlights: Revised Tax Rate Structure Announced in 2024 Budget Read More »
Finance Minister Nirmala Sitharaman unveiled key changes to the Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) regulations in the 2024 budget. These changes aim to streamline tax compliance and broaden the tax base. Payments made by firms to their partners will now be subject to TDS at 10% for aggregate amounts
Budget 2024 Key Highlights: New TDS and TCS Rules Announced in 2024 Budget Read More »
