Tech Mahindra shares raced ahead of the BSE Sensex pack on Friday, sprinting over 8%, to add around Rs 11,000 crore to its market value. The blockbuster gains came after the IT firm reported a 32.74% jump in consolidated net profit for the September quarter. Tech Mahindra, along with other IT stocks helped domestic equity…
The Income Tax Department restricted her exemption to Rs 3 lakh and sought to tax the balance of Rs 6.04 lakh. (Image for representative purpose only) How much of your leave encashment is exempt from income tax? That depends on whether you are a government employee or a private sector employee. The limit for private…
Jefferies estimates marketing losses of Rs 26 per litre on petrol and Rs 30 on diesel NEW DELHI: Selling petrol and diesel has become increasingly costly for India’s oil marketing companies (OMCs). A Jefferies report estimated that they are losing Rs 26 on every litre of petrol and Rs 30 on diesel as the Middle…
The US Department of Energy has invited bids for an exchange of up to 17 million barrels as Washington seeks to ease pressure on oil supplies amid the Iran war. The United States is preparing to offer up to 17 million barrels of crude oil from its Strategic Petroleum Reserve (SPR) as Washington steps up…
Beijing offers to address trade concerns with India after Sitharaman’s criticism China on Friday said it was ready to work with India to address their respective economic and trade concerns after finance minister Nirmala Sitharaman criticised Beijing’s restrictions on market access for Indian products, citing them as a major factor behind the widening trade deficit.“What…
Export volumes exceeded pre-war levels on 14 days during September. (Image for representative purpose only) When the US-Iran war began at the end of February, it unleashed an energy crisis on the world and one not seen in recent years. Oil shipments through the Strait of Hormuz, de facto controlled by Iran, came to a…
In the case of gold jewellery, CBDT Instruction No. 1916 sets out indicative quantities that may be considered while deciding whether jewellery should be seized. How much gold and silver can you legally keep at home? Is there a legal limit? There is no legally prescribed upper limit on the quantity of gold or silver…
Govt raises petrol export duty, cuts diesel levy NEW DELHI: The government has raised the export duty on petrol fivefold to Rs 2.5 per litre from Rs 0.5, while cutting the levy on diesel to Rs 8.5 per litre from Rs 16. The revised rates came into effect on October 16.The export duty on aviation…
India could face inflation risks: IMF warns India could face fresh inflationary pressures if the Middle East conflict keeps energy prices high for longer, the International Monetary Fund (IMF) has warned. While India has kept its oil pipelines running by sourcing from alternative markets, the agency has predicted that prolonged high energy prices could raise…
According to the allegations, a director of the construction company refused to hand over the property and demanded an additional Rs 20 lakh. (Image for representative purpose only) Buying a home and getting its possession can be two different things, and in many cases the latter is delayed, causing grievance to the homebuyer. In one…