MUMBAI: There is growing evidence that Indian retail investors are fast turning into speculators with a majority losing money in the stock market. A new study by Sebi‘s research division in the cash section of the stock market for FY23 showed that one in three investors in the segment indulged in intra-day trading. And of…
MUMBAI: In a bid to prevent fraudsters from using the money transfer route for laundering, RBI has tightened rules for money transfers and has asked banks to obtain KYC details of remitters and beneficiaries.Earlier, RBI’s money transfer rules allowed walk-in customers without bank accounts to transfer funds subject to a transaction limit of Rs 5,000…
MUMBAI: Various amendments relating to charitable trusts have been proposed in the Budget – notable among them is the move towards a single exemption scheme. The two main exemption provisions for charitable trusts/entities are contained in section 10 (23C) and section 11, while both provide similar tax exemption benefits, they contain specific procedures relating to…
NEW DELHI: The Budget proposal to waive customs levy on three specific cancer therapies has sparked claims of being “an eye-wash” and “selective”, as it covers only drugs from one MNC AstraZeneca. The exemption does not extend to the entire category or class of cancer drugs, and provides a “marginal” benefit averaging Rs 18,000 each…
NEW DELHI: BJP on Wednesday slammed Congress and other opposition parties for criticising the Union budget, saying that it revealed their political frustration and negative attitude towards “some backward states” that need special focus and assistance for development.BJP spokesperson and former Rajya Sabha MP G V L Narasimha Rao said Prime Minister Narendra Modi-led govt’s…
VARANASI: When Varanasi police cracked a month-old case on Wednesday, it was left red in the face as the kingpin of a gang that looted Rs 43.5 lakh from a businessman on June 22 was one of their own. Suryaprakash Pandey, a sub-inspector in charge of the Nadesar outpost, was found to be running a…
VARANASI: When Varanasi police cracked a month-old case on Wednesday, it was left red in the face as the kingpin of a gang that looted Rs 43.5 lakh from a businessman on June 22 was one of their own. Suryaprakash Pandey, a sub-inspector in charge of the Nadesar outpost, was found to be running a…
DEHRADUN: In a significant relief to over 50,000 people, the SC has ordered the creation of a rehabilitation scheme for those living on “encroached” railway land adjoining Haldwani railway station in Uttarakhand. The court instructed authorities to identify necessary land for railway track expansion and the families affected by it within four weeks, with the…
NEW DELHI: UK foreign secretary David Lammy pushed for a reset in bilateral ties, including through the commitment to secure an early conclusion of the free trade agreement (FTA), as he called on Prime minister Narendra Modi and held talks with his counterpart S Jaishankar during what was the first ministerial visit to India by…
NAGPUR: Former Maharashtra home minister Anil Deshmukh alleged Wednesday that deputy CM Devendra Fadnavis pressured him to file false affidavits against key Maha Vikas Aghadi (MVA) functionaries three years ago in an attempt to topple the coalition govt.Deshmukh, a senior NCP (Sharad Pawar) member, said: “I was promised freedom from ED and CBI investigations in…
