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An income tax refund is issued when the amount of tax paid by a taxpayer, through TDS, TCS, advance tax or self-assessment tax, is higher than the actual tax liability calculated after considering all eligible deductions and exemptions. The final tax liability is determined by the income tax department during the processing of income tax…
Kalyan Jewellers shares slipped 3% to Rs 575 on the BSE on Wednesday after the company’s June-quarter earnings showed margin pressure, overshadowing a 32% year-on-year (YoY) increase in consolidated net profit to Rs 348.7 crore. The company’s revenue from operations rose 45.7% YoY to Rs 10,588.9 crore from Rs 7,268.5 crore, according to the unaudited…
Shares of Bharti Airtel gained 4% to Rs 2,027 on the BSE on Wednesday after the telecom major reported a strong set of earnings for the June quarter, with consolidated net profit rising to Rs 8,167 crore, up more than 37% year-on-year (YoY). Its revenue from operations rose more than 18% YoY to Rs 58,539…
Shares of FSN E-Commerce Ventures, which operates the beauty and fashion retailer Nykaa, declined 3% to Rs 334 on the BSE on Wednesday even as the company reported a more than three-fold rise in consolidated net profit to Rs 80 crore for the first quarter of FY27, up from Rs 23 crore in the same…
Shares of two-wheeler maker Ola Electric Mobility rallied as much as 7.5% to an intraday high of Rs 41.41 on the BSE on Wednesday after the company signed a memorandum of understanding (MoU) with Axis Energy to deploy up to 20 GWh of battery energy storage systems (BESS) by 2032. The agreement marks the first…
The EPF Officers’ Association has urged the Labour & Employment Ministry to bring in more technocrats and professionals to strengthen EPFO’s digital infrastructure and improve service delivery. In a letter to the Labour minister, the body pointed out that the first policy-level failure is that Employees’ Provident Fund Organisation (EPFO) is attempting to run a…
The shares of BSE declined 2% to their day’s low of Rs 3,550 on the NSE on Wednesday even as India’s oldest stock exchange reported a 62% year-on-year (YoY) jump in consolidated net profit to Rs 874 crore for the April-June quarter of FY27, helped by strong growth in revenue from operations and higher investment…
Gold and silver prices: The price of the yellow metal in India’s retail market rose on 5 August amid continued uncertainty and tensions between the United States and Iran, following the US military’s claim that the Strait of Hormuz was open to all commercial vessels. Along with this, US Treasury Secretary Scott Bessent claimed that…
The government may be set to revise the Employees’ Provident Fund (EPF) wage ceiling for the first time in over a decade, a move that could expand retirement benefits for lakhs of salaried employees. Department of Expenditure has approved a proposal to raise the EPF wage ceiling from ₹15,000 to ₹25,000 a month, Moneycontrol reported,…
The Income Tax Department’s technology-driven NUDGE campaign has led to 1.25 crore taxpayers voluntarily revising or updating their income tax returns over the past two financial years, resulting in an additional ₹9,494 crore in tax collections, according to the government. Replying to a question in the Lok Sabha on Monday, Minister of State for Finance…