World Health Day is celebrated on April 7th each year to mark the founding of the World Health Organization (WHO) in 1948 and to draw attention to global health issues. The day serves as an opportunity to focus worldwide attention on important aspects of global health, where each year, WHO selects a theme that highlights …
In the midst of global economic uncertainty, the Indian economy stands as a beacon of resilience, weathering challenges with remarkable strength. Over the past few years, India has undergone a journey marked by a range of significant events and developments. The nation grappled with the unprecedented challenges brought forth by the COVID-19 pandemic, which disrupted …
The end of March signifies the close of the financial year in India. This often-overlooked deadline can hold a surprising amount of importance, especially when it comes to your finances. Whether you’re aiming to maximize tax savings, organize important paperwork, or simply ensure you’re on track for your financial goals, taking action before March 31st …
All investors, across the entire planet, seek to earn profits from their investments. Profit may be virtual or actual gains. Virtual profit refers to the unrealised gains accrued from investments that haven’t been sold or redeemed, whereas booked profit is realised through closing a position. Profit attracts taxation irrespective of whether one resides in India …
In a recent revelation by the Central Board of Direct Taxes (CBDT), India’s direct tax-to-GDP ratio hit an unprecedented high of 6.11% at the end of the fiscal year 2023 (FY23). This milestone, accompanied by a significant drop in collection costs, reflects a remarkable feat for the nation’s fiscal landscape. Setting Records Straight The direct …
As the joyous Diwali season approaches, the exchange of gifts is a cherished tradition. However, amidst the festivities, it’s essential to be aware of the tax implications of these generous gestures. Taxation of Diwali Gifts Diwali gifts, like any other monetary transaction, can have tax implications. According to experts, gifts received from relatives are fully …
India’s GST revenue collection for October 2023 has shattered records, marking the second-highest collection ever, closely trailing behind the historic collection in April 2023, with a staggering ₹1.72 lakh crore. This remarkable achievement demonstrates a substantial 13% year-on-year growth, signaling robust economic activity across the nation. A Year-on-Year Surge in Domestic Transactions Notably, revenue from …
The BSE Midcap and Smallcap indices in India are like scorecards for measuring the performance of medium-sized and smaller companies in the stock market. The BSE Midcap Index follows 150 of the most significant medium-sized companies listed on the BSE, while the BSE Smallcap Index watches over 250 leading small-sized companies also listed on the …
On September 12th, an unforeseen disruption rattled the financial markets, leading to a rapid and unexpected drop in the broader indices, akin to a house of cards collapsing. The Nifty Small-cap index, in particular, witnessed a remarkable 4% decline. While investors typically handle gradual shifts in market trends more comfortably, abrupt and unanticipated changes like …
In the second quarter of the current fiscal year, the Central government’s collection of advance direct taxes from companies, LLPs, and individuals increased significantly by 24% compared to the previous year, reaching a total of Rs 2.38 trillion, according to data available up to Saturday. The growth was primarily driven by a substantial rise in …
