A Jaipur ITAT ruling offers relief to taxpayers making large cash payments from bank withdrawals. The tribunal said every credit-card payment need not be matched to a specific withdrawal if the taxpayer can establish the source and availability of the cash.
Like Arjun Saluja (Hrithik Roshan’s character) in Zindagi Na Milegi Dobara, Deepak had a number in mind. Not for a business deal, but for his financial freedom. An investment banker by profession, he spent years meticulously tracking every expense, increasing his investments with each salary hike, and building a portfolio he believed would allow him…
Furniture and home electronics rental startup Rentomojo is seeking a valuation of about ₹4,246 crore as it prepares to launch its initial public offering (IPO) next week. The valuation is based on the upper end of the ₹384-404 per share price band it announced last week and is nearly five times higher than its ₹850-900…
U.S. Treasury yields rose on Tuesday, with the benchmark 10-year Treasury note yield hitting its highest level since July 2007 as investors brace for what may be the first in a series of rate hikes from the Federal Reserve as it tries to tamp down inflation pressures. Bond markets around the globe saw yields rise,…
The Indian stock market rebounded on Wednesday, with the Sensex and Nifty rising around 0.5% each after Tuesday’s crash wiped out more than Rs 9 lakh crore from Dalal Street. The Sensex rose over 400 points to above 74,400, while the Nifty 50 gained around 128 points to 23,247 as of 10:45 am. Broader markets…
Mumbai: The Indian rupee gained 33 paise Tuesday amid a retreat in oil prices and dollar sales from the Reserve Bank of India (RBI), dealers said. The rupee ended at 95.41, versus its previous close of 95.74. The currency traded in the range of 95.40 and 95.75, with state-run banks selling dollars, likely on behalf…
Sound financial planning includes securing your child’s future using a government-backed savings scheme, such as the public provident fund (PPF), which is offering 7.1% interest rate this quarter. Among the safest investment options in India, it can help with the big expenses in your child’s future, be it health, marriage, education or other aspirations. Opening…