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Tax refunds worth Rs 1.73 lakh crore issued so far this fiscal: Income Tax Department
New Delhi: The Income Tax Department on January 13 said it has issued refunds worth over Rs 1.73 lakh crore to more than 1.57 crore taxpayers in the ongoing fiscal till January 11. Of this, personal income tax refunds are worth Rs 57,139 crore, while corporate tax refunds are worth Rs 1.15 lakh crore. CBDT […]
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Pension assets under management at Rs 5.49 lakh cr as of December 2020: PFRDA
New Delhi: Total assets under management in government’s flagship social security schemes — National Pension System (NPS) and Atal Pension Yojana (APY) — stood at Rs 5,48,913 crore at end-December 2020, posting an year-on-year growth of 36.83%, according to PFRDA data. The assets under management stood at Rs 4,01,152 crore at end-December 2019. The Pension […]
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Wipro Q3 results: Net profit up 21% YoY; firm says demand environment improving steadily
New Delhi: Wipro on January 13 posted 20.8% jump in consolidated net profit at Rs 2,968 crore for the December 2020 quarter. The net profit attributable to shareholders in the year-ago period was at Rs 2455.9 crore, according to a regulatory filing by Wipro. The company logged 3.9 per cent quarter-on-quarter growth in IT services […]
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Infosys Q3 results: Net profit up 16.6% YoY to Rs 5,197 crore
New Delhi: Infosys on January 13 posted a 16.6% rise in consolidated net profit at Rs 5,197 crore for the December 2020 quarter, and increased its revenue growth guidance for FY21 to 4.5-5% on the back of large project wins and strong deal pipeline. The Bengaluru-based company had registered a net profit (after minority interest) […]
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Budget wants: Tax deductions of Rs 5 lakh against home loans
After an incredibly tough year, there are high expectations from this year’s Union Budget. Measures that will put more disposable income in the hands of the common man and boost economic sentiment would be most welcome. I would like to see a new section being created in the Income Tax Act to provide enhanced, comprehensive […]
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Elon Musk’s Tesla registers unit in India
New Delhi: Tesla has registered its Indian arm amid indications that the company is set to enter the country’s automobile market. According to a regulatory filing, the firm has registered Tesla India Motors and Energy Pvt Ltd with RoC Bangalore. The company has been registered as an unlisted private entity with a paid up capital […]
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Indigo Paints, IRFC IPOs to hit markets; here’s all you need to know
Two IPOs will hit the markets next week to raise Rs 5,600 crore cumulatively. State-owned IRFC will be the maiden IPO of 2021 as its public offer is set to open for subscription on January 18 with a price band of Rs 25-26 per share. Besides being the maiden IPO of 2021, IRFC is the […]
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Paytm Money to offer F&O trading, eyes daily turnover of Rs 1.5 lakh crore in next 18-24 months
New Delhi: Paytm Money on January 13 said it will provide Futures & Options trading (F&O) on its platform. Given the limited penetration of stock investments in the country, Paytm sees a high growth trajectory for its stocks broking offering, similar to its mutual fund offerings, Paytm founder and CEO Vijay Shekhar Sharma said. Paytm […]
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Razorpay says tier-II, III cities main drivers of online transactions in 2020
New Delhi: Online transactions grew 80 per cent in 2020 over the previous years, driven by strong adoption of digital transactions in tier-II and III cities, according to a report by fintech firm Razorpay. The report pointed out that UPI transactions outgrew cards, net banking and wallets with 120 percent growth in 2020. Razorpay said […]
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Mount honest attempts to settle litigation for revenues in FY22, avoid new taxes in Budget: SBI report
Mumbai: SBI economists have pitched for avoiding new taxes and urged the government to settle past litigations. “There must not be any new taxes in the Budget. Let us have a tax holiday budget, with carefully crafted policies for immediate fiscal lubrication. A gamechanger in the budget could be an honest attempt to settle cases […]
