Who is a partner in a firm Individuals who are partners in a firm and have capital invested in the firm as per the terms of partnership are required to file ITR-3. Additionally, anyone holding a ten percent or more interest in a company at any time during the relevant financial year should also choose Form ITR-3 to file their income tax returns.

As the fiscal year comes to an end, many people focus on optimizing their tax strategies. Health insurance not only provides protection for one's well-being but also offers tax savings through deductions on premiums under Section 80D of the Income Tax Act. However, yearly renewals can be a hassle with potential increases in premiums and paperwork.

The government's ambitious fiscal deficit target of 5.1% for FY25 has been praised by brokerages, with Nomura calling it "fiscal prudence pro max." The market reacted positively to the fiscal consolidation path, with the Sensex and Nifty trading higher. However, brokerages warn that the interim budget may impact rural plays and two-wheeler stocks, as populist measures were absent.

Finance Minister Nirmala Sitharaman has struck a balance between fiscal consolidation and boosting economic growth in the interim Budget. Investors have welcomed the budget and various stock ideas have emerged, including Tourism Finance Corporation, Pradhan Mantri Awas Yojana, rail stocks, solar stocks, microfinance stocks, agriculture and food processing, auto stocks, and power, oil and gas.

High frequency trading firms were active in L&T, Indus Towers, and India Cements making some fast money by flipping trades in seconds on February 1. All the stocks closed lower. High-frequency trading firms (HTFs) – or algo firms on steroids –use complex algorithms and powerful computers to execute trades at lightning speeds. These firms typically try to capture the spread between the spot.

On February 1, the Nifty 50 saw volatility on the budget day, reaching resistance at 21,850 before ending with moderate gains. It negated a bearish formation and may fill a downside gap created on January 17 if it surpasses 21,850. It held key moving averages and experts expect a range-bound movement between 21,840 and 21,420. They suggest deploying an Iron Butterfly strategy with a probability.

Byju's, an Indian education technology startup valued at $22 billion in 2022, has filed for Chapter 11 bankruptcy in the US court of Delaware. Its US unit, Byju's Alpha, listed liabilities between $1 billion and $10 billion and assets between $500 million and $1 billion. The company is facing bankruptcy proceedings from lenders and has reportedly seen a decrease in valuation.

In the Interim Budget 2024, the government has proposed to increase the capex outlay for the next year by 11.1 percent to Rs 11,11,111 crore, focusing on essential infrastructure and economic growth. This could boost infrastructure development, with a significant portion directed towards roads, railways, and defence, potentially benefiting industries like steel and cement.

In January 2024, 23 companies opened up for retail investors to subscribe to their IPOs. The total amount raised was Rs 3,500 crore, with the Mainboard segment raising 5.6 times more than SME IPOs. Five companies in the Mainboard segment raised Rs 2,950 crore, with Medi Assist Healthcare and Jyoti CNC Automation leading the pack. In the SME segment, 18 companies collectively raised Rs 522.54 cr.

Four stocks, Indus Towers, India Cements, Steel Authority of India and Zee Entertainment, have been placed on the F&O ban list due to exceeding the market-wide position limit. The ban can be reversed if open interest for these stocks falls below 80 percent. National Aluminium Company and Hindustan Copper may also enter the ban list soon. Technicals show both stocks have been surging.

India's strong economic growth and potential for further development have been driven by past reforms and current efforts to promote digital infrastructure, female labor force participation, and innovation. As it aims to become a developed nation by 2047, the country must continue to manage its public finances and support entrepreneurship.

Meta Platforms, the parent company of Facebook, issued its first dividend ahead of the social network's 20th anniversary. The company reported strong revenue and profit due to high ad sales during the holiday season, leading to a 14% jump in after-hours trading. This puts Meta's value at over $140 billion and marks its successful recovery from a dip in 2022.

Chennai's skyline along railway tracks is expected to grow with the state government's decision to bring MRTS and suburban corridors under transit-oriented development, resulting in a 50% waiver in premium FSI charges for properties constructed within 500 meters on either side. This move aims to improve affordability for middle-class homebuyers and benefit developments along the existing MRTS.

Fitch Ratings has stated that India's fiscal deficit reduction does not greatly impact their credit profile, but the government's focus on reducing deficits will help stabilize the debt-to-GDP ratio over the next five years. The budget also shows a commitment to fiscal consolidation and infrastructure investments if the current government returns to power. Moody's has also praised the budget.

Delaplex had a successful market debut on February 2, with a listing price 61% higher than its IPO price. However, this was lower than the grey market premium of 75.5%, which investors use to predict the listing price. The Rs 46-crore IPO included both fresh shares and an offer for sale. In the last fiscal year, Delaplex's revenue increased by 9%, while their net profit rose from Rs 6.1 crore.