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The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has upheld a ₹1.86 lakh penalty under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, against taxpayer Ashok Shankar for failing to disclose a foreign bank account and interest in a UAE company in his income tax returns. The…
The Delhi High Court has asked the income tax department not to process income tax returns filed by judges of the Supreme Court and various high courts amid a dispute over whether certain judicial allowances continue to enjoy tax exemption under the new taxation regime. A bench comprising justices Dinesh Mehta and Rajneesh Kumar Gupta…
Shares of Jio Financial Services gained over 3% to Rs 263 on the BSE on Thursday after the company announced that Bank of America will acquire a 49.9% stake in Jio Credit, a wholly owned non-bank lending arm of the company, in a Rs 18,268 crore joint venture deal. Under the transaction, the American banking…
Shares of Lenskart Solutions gained as much as 7% to their day’s high of Rs 627 on the BSE on Thursday after it reported a 182.3% year-on-year (YoY) jump in net profit (PAT) to Rs 228 crore in the first quarter of FY27. The company’s revenue from operations rose 33.6% YoY to Rs 2,214 crore…
Shares of commercial vehicle major Tata Motors rallied as much as 6% to their day’s high of Rs 485 on the BSE on Thursday after it reported a net profit of Rs 2,560 crore in the first quarter of FY27, a jump of 83.3% from Rs 1,397 crore reported in the same period last year….
Shares of Hindustan Aeronautics (HAL) gained 2% to Rs 5,044 on the BSE on Thursday after multiple brokerages hiked target prices for the defence major after it reported a 15% year-on-year (YoY) increase in its consolidated net profit to Rs 1,590 crore for the April-June quarter of FY27, compared with Rs 1,384 crore in the…
The Reserve Bank of India (RBI) Governor, Sanjay Malhotra, announced last week that the government is conducting a pilot to test how polymer banknotes will perform in Indian conditions, climate and infrastructure. While speaking at a press conference following the Monetary Policy Committee (MPC) meeting, he said the rollout is expected to happen at the…
Lenskart Solutions Ltd., Adani Energy Solutions Ltd., Billionbrains Garage Ventures Ltd. and Laurus Labs Ltd. will be added to the MSCI India Index, MSCI said in an announcement early Thursday, August 13. Billionbrains Garage Ventures is the parent company of discount broking firm Groww. Astral Ltd., Balkrishna Industries Ltd. and SBI Cards and Payment Services…
Ending boardroom shadow battles, Tata Sons chairman announces departure at end of term next year: Chandra Cedes N Chandrasekaran will step down as chairman of Tata Sons when his second term expires in February 2027, ending a nearly decade-long tenure in which he reshaped India’s largest conglomerate with a series of big bets on aviation,…
South Korean stocks climbed, putting the benchmark index on track to enter a technical bull market, as a global rebound in the AI trade fueled a rapid reversal from last month’s historic rout. The benchmark Kospi gained as much as 4.8% on Thursday, extending its gain from a July 30 low to around 22%. Heavyweight…