Page 24 - Video Gallery

Stocks, rupee weaken, bonds gain in line with global markets

Mumbai, Feb 06 (ANI): Indian shares slid more than 3 percent and the rupee weakened on Tuesday as a global market rout whacked sentiment, adding to existing investor concerns ahead of a central bank meeting this week and a new capital gains tax later in the year. The broader NSE Nifty and the benchmark BSE Sensex each fell as much as 3.7 percent, heading for a sixth consecutive session of falls, with both erasing their gains for the year. Meanwhile, the rupee retreated to 64.35/64.36 at 0455 GMT from its 64.07 close. But bonds gained as investors sought safe havens.

'We put standard deduction of Rs 40,000 to all salaried employees': CBDT Chairman

New Delhi, Feb 06 (ANI): Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra acknowledged salaried employees for being best tax payers. He also said that these salaried employees deserve better treatment. Chandra said, "Salaried employees are best tax payers and deserve better treatment. In personal tax category, 1.89 crore salaried employees gave Rs 1,48,000 crore and 1.88 crore business persons gave Rs 44,000 crore. So, we put standard deduction of Rs 40,000 to all salaried persons."

Bloodbath in markets: Sensex falls over 1000 points

A massive downturn in the global stock markets unleashed a selling frenzy on the domestic bourses during the day's trade. The barometer 30-scrip Sensitive Index (Sensex) of the BSE recovered over 700 points from its day's low at 33,482 points.

'Those earning Bitcoins would have to pay taxes,': CBDT

New Delhi, Feb 06 (ANI): Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra on Tuesday said that those who have earned Bitcoins will have to pay tax. He added that the source of income of the owners of Bitcoin will also be asked and if they don't pay tax, action will be taken against them. This virtual currency emerged in the aftermath of the financial crisis and allows people to bypass banks and traditional payment processes to pay for goods and services.

Fall in Indian market not due to Long Term Capital Gains Tax: Finance Secretary

New Delhi, Feb 05 (ANI): Finance Secretary to the Government of India, Hasmukh Adhia, on Monday said that dip in the Indian market is not because of Long Term Capital Gains Tax (LTCG), but because of global market going down. He said that it is unfortunate that the LTCG has been announced at a 'wrong time,' and cleared that it is the ripple effect of the world stock market going down on the Indian market and not due to the proposed LTCG as there is a strong connection of all markets.

CBDT responds to queries of taxpayers regarding long-term capital gains taxation

New Delhi, Feb 05 (ANI): Responding to frequent queries regarding taxation of long-term capital gains as proposed in the Finance Bill, 2018, the Central Board of Direct Taxes (CBDT) on Sunday gave answers in the form of Frequently Asked Questions or FAQs. This form is now available on the website www.incometaxindia.gov.in. The Finance Bill, 2018 proposes to withdraw the exemption under Clause (38) of Section 10 and to introduce a new Section 112A in the Income Tax Act, 1961, so as to provide that long-term capital gains arising from transfer of such long-term capital asset exceeding one lakh rupees will be taxed at a concessional rate of 10 percent. Since the introduction of the Finance Bill, 2018, on February 1, 2018, several queries have been raised in different fora on various issues relating to the proposed new tax regime for the taxation of long-term capital gains. The Central Board of Direct Taxes (CBDT) has issued in the form of has issued responses to these queries in the form

Government has decided to give correct price for farmers' produce: PM Modi on Union Budget 2018

Bengaluru (Karnataka), Feb 04 (ANI): While addressing 'Parivartan rally' in Bengaluru, Prime Minister Narendra Modi highlighted the benefits that Union Budget 2018 promises for welfare of the farmers. PM Modi assured that now farmers will get correct price for their produce. "In this budget, Government has made a significant decision so that farmers get correct price of crops." PM Modi further talked about the changes that former state chief minister Yeddyurappa can bring in lives of farmers, if elected as chief minister of the state. "If Yeddyurappa, son of a farmer, becomes CM of Karnataka, the projects for farmers will work at its best because Yeddyurappa has farmers' best interest at heart."

160-km sub-urban railway network to resolve traffic woes in Bengaluru: PM Modi

Bengaluru (Karnataka), Feb 04 (ANI): Prime Minister Narendra Modi on Sunday addressed 'Parivartan Rally' in Bengaluru. In his speech, PM Modi hailed the Union Budget 2018 saying it has solved one major problem of Karnataka, that is, traffic jam."With an investment of 17,000 crore, construction work of 160-kilometre-long sub-urban railway network will be started in Bengaluru. 15 lakh commuters of the city will be benefitted by it,"PM Modi added.

Markets to normalise soon, says Department of Economic Affairs Secretary

New Delhi, Feb 03 (ANI): Secretary of the Department of Economic Affairs (DEA), Subhash Chandra Garg on Saturday assured that normalcy will return to markets very soon. "It is wrong to say that there is sharp fall (in Sensex). There was a correction of 800 points or something. After coming of long-term capital gains, some impact had to come. Soon, the markets will revert to its fundamental aspects. I think normalcy will soon return," Garg told ANI.

Demonetisation: CBDT sends notices to individuals who deposited over Rs. 15 lakh but didn't file return

New Delhi: 03 Feb (ANI):Central Board of Direct Taxes Chairman Sushil Chandra on Saturday said notices were sent to those who deposited more than Rs. 15 lakh in banks during demonetisation but didn't file any return. Over 1,98,000 notices were sent during December-January to pursue that everybody should file return who deposited more than Rs. 15 lakh during demonetisation.

Union Budget 2018: Cryptocurrency is not legal tender, says FM Jaitley

New Delhi, Feb 01 (ANI): Union Finance Minister Arun Jaitley has begun the presentation of Union Budget 2018 in the Parliament on Thursday. Speaking at the Parliament, FM Jaitley said Cryptocurrency is not legal tender. He proposes that 1 lakh Gram Panchayats will be connected with Optic Fibre Cable. He also proposes 5 lakh WiFi hotspots in rural areas.

All eyes on Finance Minister's 'leather bag': People's expectation from Budget 2018

Dehradun, (Uttarakhand), Hyderabad (Telangana), Jan 30 (ANI): Ahead of the commencement of Budget Session 2018, eyes of the common men are staring at the Finance Minister's 'leather bag', which will decide their future. Citizens across the country are eagerly waiting for Modi Government's last budget. From shoppers to customers, from MSMEs to business tycoons, all have different opinion about the upcoming budget. Here's what the common men have to say.

Diamond traders expect new budget to fulfill their long pending demands

Surat (Gujarat), Jan 39 (ANI): With the upcoming budget, the diamond sector is waiting to get their long unfulfilled demands. The diamond traders want presumptive tax to be implemented which is their long unfulfilled demand. They are also demanding permission for minors to sell their rough diamonds in Special Economic Zones (SEZ). The minors can only show their roughs here. The other main demand is for the Small and Medium Enterprises (SME) sector. The SME sector does not get any finances from banks. Only large and Multinational Companies can avail these finances. This does not give the chance to Small and Medium Enterprises to grow. Other demands include basic facilities like housing and proper schools especially for the diamond workers who have migrated to the diamond city Surat.

Factors that might steer market direction this week

These 4 events could drive the equity markets in the Jan 29 – Feb 04 trading week

These Fintech platforms facilitate hassle-free borrowing

New Delhi, Jan 28 (ANI): Financial technology platforms help fill the credit gap in the economy. Different types of digital lending models are processing loan applications based on information such as psychometric analysis, social profiles, credit score, and have gained great traction and faith from borrowers. Here is a list of four popular, leading fintech players serving on different market models- Loantap: LoanTap is a fintech consumer lending platform delivering flexible Equated monthly installments (EMI) free loan products to salaried professionals. The platform uses technology to deliver smart and innovative products for millennials. Borrowers can choose custom made loan products from an array of offerings like overdraft facility, credit card takeover loans, rental security deposit loans, advance salary loans and consumer durable loans. OMLP2P: OHMY Technologies Private Limited is the owner and operator of OMLP2P, an online Peer-to-Peer (P2P) lending platform for individuals and

Bombardier wins over Boeing in trade dispute

New Delhi, Jan 27 (ANI): The International Trade Commission rejected the U.S. Commerce Department's recommendation to slap Bombardier's CSeries with 300-percent duty on sales to American carriers. Aleksandra Michalska reports. Canada's planemaker Bombardier won a trade dispute with its U.S. rival Boeing. Last year, Boeing accused Bombardier of selling the CSeries planes below cost in the U.S. As a result, the U.S. Commerce Department recommended a 300 percent duty on Bombardier's jets. But the decisive body - the U.S. International Trade Commission - just voted 4-0 in favor of Bombardier. Bombardier's stock rose on the news. Boeing said it's disappointed by the ITC decision, and it will continue to document Bombardier's presence in the U.S. market.

India-made BMW G 310 GS more expensive than G310R

New Delhi, Jan 27 (ANI): Maxindo Moto, BMW Motorrad's official distributor in Indonesia has launched its budget adventure bike, the BMW G 310 GS in the country for an approximate price tag of IDR 125 million. Made in India, the motorcycle has been launched in many markets across the world. In India, it will be launched later this year, after it makes its debut at the 2018 Auto Expo. It is the second product to come out of the BMW-TVS technology cooperation agreement, the first two being the BMW G 310 R. It has also been launched in Japan where the price starts from 6.7 lakh yen, which is approximately Rs 3.82 lakh. This is about Rs 45-50k more expensive than the G310R. Both, G310R and G310GS will be launched in India later this year. As they are made in India, expect price tag to be in the range of Rs 3 lakh. The BMW G310GS shares many components with the G310R. This helps the manufacturing costs low, and price of the bike competitive.

CBEC facing twin challenge of detection, facilitation: Finance Minister

New Delhi, Jan 27 (ANI): Union Finance Minister Arun Jaitley on Saturday said the Central Board of Excise and Customs (CBEC) needs to fulfill a twin challenge of robust detection to avoid tax evasion as well as facilitation of trade. The Finance Minister added that there has been rationalisation of both domestic and international customs tariffs, along with an increase in the availability of many goods within India itself, through the 'Make in India' initiative.

ONGC borrows Rs. 4,000 crore from ICICI Bank

New Delhi, Jan 25 (ANI): The Oil and Natural Gas Corporation (ONGC) has borrowed around Rs. 4,000 crore from the ICICI Bank. Borrowing is part of a tie-up with three banks- Punjab National Bank (PNB), Bank of India (BOI) and Axis Bank, which took Rs. 18,060 crore for part funding its acquisition cost of Rs. 36,915 crore equity shares of the Hindustan Petroleum Corporation Limited (HPCL). The acquisition would also create India's first integrated oil company. Earlier, the ONGC said that it has entered into loan agreements with the three banks- Rs. 10,600 crore with PNB, Rs. 4,460 crore with BOI and Rs. 3,000 crores with Axis Bank, respectively.

Grofers launches membership subscription-based service 'Smart Bachat Club'

New Delhi, Jan 24 (ANI): Low-price online supermarket Grofers has launched a membership subscription based service for its customers, 'Smart Bachat Club' this month. It is the first loyalty program of its kind for any online grocery player in the country and has already crossed 50,000 subscribers within two weeks from its launch. The 'Smart Bachat Club'subscription is available in a varied tenure, ranging from one month to twelve months, and the members of the club can shop for their daily groceries by paying as low as wholesale prices.