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Initial public offering (IPO) activity in India is gathering pace, with companies raising around ₹22,400 crore through 26 August. More issues could hit the market before 30 September, when the one-year validity of Sebi approvals for several companies is set to expire. Since IPO-bound companies do not have a listed-market track record or exchange trading…
Uzbekistan has joined the list of countries that is set to adopt the unified payment interface (UPI) system, the Ministry of External Affairs (MEA) announced today. Speaking to reporters, MEA Secretary (West) Sibi George said the development comes on the back of Prime Minister Narendra Modi’s two-day long official visit to Tashkent from Saturday. “Another…
Government employees in Odisha who fail to pay court-ordered alimony or maintenance to their estranged wives or children could now see the amount deducted directly from their monthly salaries. The Odisha government on Sunday issued an order directing departments to enforce court-mandated maintenance payments by making deductions from the salaries of employees who default on…
The new tax regime has been the default regime from assessment year (AY) 2024-25. While taxpayers without business or professional income can switch between the old and new regimes every year, those with business or professional income face restrictions. For taxpayers filing ITR-3 or ITR-4 with business or professional income, switching tax regimes is not…
If you invest across Indian equities, debt, gold, and US equities, how you divide your portfolio across these asset classes can have a significant impact on your overall returns and risk. A recent market study from WhiteOak Capital Mutual Fund offers a historical perspective by comparing the performance of these four asset classes from FY2011…
Innovation funds are a type of equity thematic mutual fund that invests in businesses at the forefront of emerging technologies, new ideas, and disruptive trends. They are designed for investors looking to gain exposure to companies that could benefit from innovation and technological advances. According to the Value Research data list, there are 13 innovation-focused…
A family court in Gurgaon has directed a husband to pay ₹2 lakh a month as maintenance to his estranged wife, rejecting his argument that a fifty per cent decline in his income and ₹1.7 crore home loan liabilities had reduced his ability to make alimony payments. The husband’s income tax returns showed that his…
My two sisters and I inherited agricultural land from our father after his death. We intend to sell the land and distribute the proceeds among the three of us. What tax will be payable? Is there a way to avoid tax on the sale using Section 54? —Name withheld on request It is assumed that…
Air India B787 engine shutdown: GE expanded inspections after 2023 incident, DGCA tells CIC GE Aerospace expanded engine inspection requirements after an Air India 787-8 incident. The Directorate General of Civil Aviation confirmed this action to the Central Information Commission. This expansion included additional engine serial numbers for affected aircraft. The investigation found improper installation…
Kanpur-Lucknow Expressway slippages point to design issue, affected stretches need rebuilding: Official Slippages on the Kanpur-Lucknow Expressway suggest design issues, not construction defects. Affected stretches will require rebuilding from the ground up, according to a government official. A preliminary investigation pointed to weak soil and poor drainage as contributing factors. The expressway was executed under…