NEW DELHI: The Nifty Financial Services index was up with its components trading higher in Wednesday's afternoon session. Shares of Mahindra & Mahindra Financial (up 4.39 per cent) , Shriram Transport Finance (up 2.76 per cent) , Power Finance Corporation (up 2.54 per cent) , REC (up 1.52 per cent) , Indiabulls Housing Finance Ltd (up 1.45 per cent) , SBI Life (up 1.35 per cent) , Bajaj Finance (up 1.31 per cent) , State Bank of India (up 1.3 per cent) , HDFC Bank (up 1.2 per cent) , Bajaj Finserv (up 1.15 per cent) , Cholamandalam Investment & Finance (up 0.77 per cent) , Bajaj Holdings & Investment (up 0.76 per cent) , ICICI Bank (up 0.72 per cent) , Axis Bank (up 0.69 per cent) , HDFC LIFE INSURANCE (up 0.65 per cent) , Kotak Mahindra Bank (up 0.64 per cent) , ICICIGI (up 0.28 per cent) , Edelweiss Financial Services (up 0.15 per cent) and HDFC (up 0.07 per cent) were among the top gainers. The Nifty Financial Services index was trading 0.81 per cent up at 14388.8 … [Read more...] about Share market update: Nifty Financial Services index up; M&M Finance climbs 4%
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She got married a month ago. And she is proud of the fact that she took care of a part of her wedding expenses with her investments in debt mutual funds. Apurva Bhosale, a 27-year-old IT professional from Pune, started investing in mutual funds like most others: via tax saving or ELSS mutual funds. Bhosale’s brother asked her to meet Deepali Sen, Founder, Srujan Financial Advisers LLP, a Mumbai-based wealth management firm, to finalise her tax-saving investment. Bhosale met Sen in 2016. She remembers talking to Sen about her investments in LIC and bank fixed deposit. “Why should I take extra risk when I am getting guaranteed returns in LIC and fixed deposit,” Bhosale remembers asking Sen. Sen remembers telling Bhosale about the impact of inflation on her money and how it would lose value over time if she stuck to traditional investments. Deepali Sen asked Bhosale to invest in ELSS to save taxes under Section 80C of the Income Tax Act, and Bhosale made her first … [Read more...] about How a 27-year-old IT professional from Pune financed her wedding with tax saving
New Delhi: L&T Infotech, Vodafone Idea, Tata Consultancy Services and several other companies have cut back on their business with SoftBank-backed Oyo Hotels & Homes for employee accommodation, people familiar with the matter at the hospitality firm, some of its former employees and hotel partners said. These sources cited multiple issues ranging from safety and security of women to service and quality issues for these companies to scale down the business. As a result, as well as disputes with hotel partners and frequent changes in teams, Oyo’s corporate business has stayed flat over the past one year, people familiar with matters at the company said. Oyo’s offline business, which includes the corporate segment, contributes about 18% to its total revenue, they said. “There are a lot of issues and right now Oyo is not in a position where it can manage these issues. Corporates have cut back on business,” a former employee familiar with matters said. … [Read more...] about Corporates cut back on business with Oyo because of service, quality issues
NEW DELHI: Shares of PSU were trading on a mixed note in Monday's afternoon session. Shares of REC (up 2.83 per cent), Container Corporation of India (up 2.15 per cent), Power Finance Corporation (up 1.29 per cent), Bharat Petroleum Corporation (up 0.93 per cent), NHPC (up 0.91 per cent), Oil India (up 0.77 per cent), Bharat Electronics (up 0.49 per cent), Coal India (up 0.44 per cent), HPCL (up 0.39 per cent), General Insurance (up 0.32 per cent) and New Indian Assurance (up 0.06 per cent) were among the top gainers. While Steel Authority of India (down 2.84 per cent), NMDC Ltd (down 2.83 per cent), GAIL (India) (down 1.81 per cent), Indian Oil Corporation (down 1 per cent), Power Grid Corporation of India (down 0.91 per cent), NTPC (down 0.61 per cent), Bharat Heavy Electricals (down 0.56 per cent), National Aluminium Company (down 0.43 per cent) and Oil & Natural Gas Corporation (down 0.34 per cent) were the top losers in the index. The Nifty PSE index was trading 0.14 per … [Read more...] about Share market update: PSU shares trade mixed; SAIL slips 3%
For long, the Union Budget was more about which goods became costlier and which ones dearer, depending on the tax changes the government of the day would bring about in order to mop up the revenue required for a financial year. Even since GST rollout, merging various levies into one single tax, the Union Budget ceased to have any say on the indirect tax regime, barring import duty. The Budget now is all about direct taxes, which mainly include income tax and its variance. Here is a lowdown on the taxes that you will get to hear in the Budget speech: What is direct tax in Budget?Direct tax is charged on income, salary or profits of an individual or corporates. In the case of direct tax, the burden can’t be shifted by the taxpayer to someone else. These are largely taxes on income or wealth. Income-tax, corporation tax, property tax, inheritance tax and gift tax are examples of direct tax. What is indirect tax?Indirect tax is a levy where the incidence and impact of taxation … [Read more...] about Budget and taxes: How they pinch you?