If the IDCW payout from a single mutual fund house exceeds ₹10,000 in a financial year, initially, tax deduction at source (TDS) at 10% will take place, which will be adjusted when you file your Income-tax Return (ITR). If the PAN is not provided, the TDS rate doubles to 20%. The TDS rate is applied to the entire payout amount, not just the portion exceeding ₹10,000.
The All-India Consumer Price Index for Industrial Workers (CPI-IW) rose 1.2 points to 154.4 in August 2026, from 153.2 in July, providing the latest indication of where the Dearness Allowance (DA) for central government employees could head from January 2027. The Labour Bureau released the August CPI-IW data on 30 September. Year-on-year inflation based on…
Mumbai: Global index providers MSCI and FTSE said on Wednesday they would make changes to Swiggy‘s index treatment after the company’s foreign ownership limit (FOL) was lowered to 49.5% from 100%. MSCI will delete Swiggy from global indices, with the change expected to take effect on September 7. The deletion could result in passive outflows…
Shares of Data Patterns India fell nearly 7% to Rs 4,158 apiece on the BSE on Friday after the company reported weak Q1 results. The defence electronics firm’s net profit declined 14% year-on-year to Rs 22 crore in the first quarter, compared with Rs 25.5 crore in the corresponding period last year. However, revenue from…
Shares of Naukri-parent Info Edge sharply surged another 5% on Wednesday, extending a 19% rally in just two days after the company released its quarterly business update for Q1 FY27, with brokerages issuing bullish calls for the stock. The company’s shares jumped to Rs 1,217.80 apiece on the NSE on Wednesday, the highest level seen…
Harshal Bhuta, partner at P. R. Bhuta & Co., CAs, said that under ITR-U, foreign tax credit (FTC) is available if the taxpayer has already paid tax in a foreign country. FTC lets you adjust foreign taxes against your Indian tax liability directly while filing your ITR. In the example above, a 25% tax would…
The Finance Ministry in April announced 2% increase in Dearness Allowance (DA) for central government employees and pensioners, with effect from 1 January 2026, effectively taking DA to 60% of basic pay from 58%. Notably, the 2% DA hike is calculated on the 12-month average formula as per the method prescribed by the 7th pay…