The recent Interim Budget made no changes to the current policy of exempting credit card transactions from TCS (tax collected at source). This means that those with foreign currency expenses can still use their credit cards without worrying about additional taxes, giving credit cards an advantage over other payment modes.

The Union Budget is a comprehensive financial plan for the country's economy. The government has set a fiscal deficit target of 5.1 percent of GDP for 2024-25 and expects a nominal GDP growth rate of 10.5 percent during that time. The disinvestment target for FY25 is Rs 50,000 crore, and the Centre plans to borrow Rs 14.13 lakh crore from the markets in 2024-25.

Finance Minister Nirmala Sitharaman presented the last Budget of the current government before the general elections in May. With no major announcements due to it being a vote on account budget, investors were hoping for measures to boost market confidence. However, there were no changes in taxes and overall, the budget was positive for markets.

Finance Minister acknowledges the distress faced by taxpayers due to unresolved tax disputes and announces waiver of outstanding demands of up to Rs 25,000 for disputes linked to 2009-10 and up to Rs 10,000 for disputes linked to 2010-11 to 2014-15. This move is expected to benefit around 1 crore taxpayers and reduce litigation in direct tax demands since 1962.

The government plans to raise Rs 14.13 lakh crore from the market in 2024-25 through dated securities to cover the fiscal deficit. The Finance Minister also acknowledged the success of GST in reducing compliance burden and increasing monthly collections. The current financial year saw a gross amount of Rs 5.77 lakh crore raised through various sources including dated securities.

The government has increased the target for the Lakhpati Didi Scheme from Rs 2 crore to Rs 3 crore, which aims to benefit 83 lakh self-help groups with 9 crore women in transforming the rural economy. The success of the scheme has led to a decision to honor and recognize the achievements of these women. Analysts believe this will uplift the economic status of rural women.

Finance Minister Nirmala Sitharaman presented the last Budget of the current government before the general elections in May. With no major announcements due to it being a vote on account budget, investors were hoping for measures to boost market confidence. However, there were no changes in taxes and overall, the budget was positive for markets. Volatility was seen leading up to the budget, wit...

The Centre told the Supreme Court that it has not yet decided on how to regulate cryptocurrencies and investigate related offences. The government needs more time to file an affidavit with updated information on their stance. The court emphasized the need for safeguards and warned about the dangers of unregulated currencies.

Maruti Suzuki India's stock jumps 3% after brokerages reaffirm buy views on the company post its Q3 results, with a target price of Rs 12,000 (Jefferies) and Rs 12,500 (Nuvama). The company reported a 33% increase in consolidated net profit for the quarter ended December 2023, with revenue rising by 14.5% year-on-year. However, Jefferies also highlighted a moderation in passenger vehicle growth.

The government is aiming for a fiscal deficit of 5.1% of GDP in the 2024-25 financial year, as announced by Finance Minister Nirmala Sitharaman. This is slightly lower than the estimated target of 5.3% predicted by economists in a recent survey conducted by Moneycontrol. Additional updates will be provided as they become available. Govt targets 5.1% fiscal deficit of GDP for 2024-25, lowe...

In January, Hyundai Motor India reported an 8.5% increase in sales, with domestic sales rising by 14%. While exports declined, the automaker credits the strong growth to high demand for the newly launched Creta and their entry SUV. The company remains cautiously optimistic about the auto industry's momentum in the future.

The Finance Minister will present the last budget before the 2024 Lok Sabha elections, with a focus on maintaining India's positive growth outlook amidst global economic slowdown. Expectations from the tax policy include extensions for concessional tax rates, incentives for environmental initiatives, a settlement scheme for past disputes, and measures to encourage innovation and exports.

In the old tax regime, there is nil tax up to the limit of Rs 2.50 lakh. From Rs 2.50 lakh to Rs 5 lakh income, there is five per cent income tax on income above Rs 2.50 lakh. Taxpayers under the new tax regime have to pay nil income tax up to the earnings of Rs 2.50 lakh. The tax slab for Rs 2.50-Rs 5 lakh income is five per cent tax on income above Rs 2.50 lakh.

On Feb 1, the FM did not make any major announcements for the defence sector in Interim Budget for 2024-25, causing a mixed response in defence stocks. Shares of major players like HAL, BEL, and Bharat Dynamics fell slightly while Data Patterns saw an increase after a positive Q3 announcement. The budget for FY23-24 allocated Rs 5.94 lakh crore for defence, a 13% increase from the previous year.

The US has announced a sharp increase in fees for non-immigrant visas, including the popular H-1B and EB-5 visas. The new fees will go into effect on April 1 and are estimated to cost the public over $1 billion over the next 10 years. The Department of Homeland Security claims the changes will benefit both the government and visa applicants by reducing administrative burdens.