ET EXPLAINER
Rs 48 lakh in cash received from the sale of two properties, paid capital gains tax but received an income tax notice; taxpayer wins the case in ITAT Cuttack for this reason
Mr. Purushottam residing in Kabisurya Nagar, encountered a penalty for accepting cash payments linked to his property sales. He sold two properties totaling Rs 47.54 lakh and declared these earnings accurately. Despite paying the required capital gains tax, an investigation by the Assessing Officer into the cash dealings led to a penalty.
Rs 8.02 lakh leave encashment tax exemption denied: Retired employee wins case in ITAT Surat
Retiree Mr. Patel from Bharuch, Gujarat, sought a complete tax exemption on Rs 8.02 lakh of leave encashment. Initially, his company certified only Rs 3 lakh as exempt. The Income Tax Department later imposed tax on an additional Rs 5.02 lakh. To challenge this ruling, Patel approached the Income Tax Appellate Tribunal in Surat, which sided with him, citing the Department's failure to provide justifiable reasons.
Buying gold this Dhanteras: Gold price down by 18% from record high, can it recover to January peak next year?
Dhanteras Gold Price return: Gold rates have seen a sharp decline after scaling to a record high earlier this year, resulting in varied investment outcomes. With Dhanteras on the horizon, many buyers are hopeful for profits despite the market's fluctuations. Experts recommend a cautious approach, favouring staggered purchases over lump sum investments. Looking ahead, price predictions suggest that global economic factors will play a significant role in shaping future gold values, making it crucial for investors to stay informed.
Vijay's success makes more actors eye role in Tamil political theatre
Actor Dhanush has fuelled speculation about a possible political debut after renaming his fan club the Dhanush Welfare Movement and organising a meeting of female fans. Silver lamps bearing lotus emblems and a reported meeting with an RSS functionary have added to the chatter, though his organisation has denied political intent.
Catch November’s Beaver Moon before dinner on this date. Why December’s full moon will look even bigger
November’s Beaver Moon turns full on Tuesday, Nov. 24, and is best viewed as it rises in the northeast around sunset.Find a spot with a clear view of the horizon and check your local moonrise time before heading out.
Gold loan NPA rises in first five months while eases over a three-year horizon
India’s gold loan market has experienced a rise in non-performing assets, reaching 0.78% by August 2023. The total outstanding volume grew nearly threefold to Rs 22.5 lakh crore recently. Borrowers are increasingly taking multiple loans, with many having four or more gold loans. The market also saw 5.5 crore active borrowers, indicating its broad consumer reach.
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Rs 21.6 lakh speculative trading loss in stock market triggers Income Tax notice for no tax audit; Trader wins case at ITAT Cuttack
Mr. Kumar, a diligent stock trader, faced considerable financial setbacks but overlooked the necessity of a tax audit. In response to his failure to comply with audit rules, the Income Tax Department slapped him with a penalty. After an unsuccessful appeal to CIT (A), he sought relief from ITAT Cuttack, which determined that Kumar's trading did not equate to business income needing an audit.
Bringing gold jewellery, bars, coins from Dubai to India? Know how much a passenger can bring duty-free
A passenger who has been abroad for at least 6 months can bring up to 1 kg of gold, including bars, coins and ornaments, by paying a concessional duty in foreign currency. Ornaments studded with stones or pearls don't qualify for that concession. Know customs rules for different passengers for bringing gold from Dubai to India.
Bengaluru techies' lifestyle spending: Couple spends Rs 1.73 lakh monthly, Rs 75,000 for travel and Rs 60,000 rent
A Bengaluru couple reveals their eye-popping monthly spending habits, allocating Rs 75,000 for travel and Rs 60,000 for rent. Shubhi Khandelwal shares insights on their budgeting strategies, emphasizing easy tracking methods. Meanwhile, another local couple's relocation to Goa highlights the financial considerations of choosing a lifestyle change. Explore how these tech professionals manage expenses while saving and investing.
He took his Taiwanese friend to show her Mussoorie's beauty, but garbage-strewn Dalai Hills changed their plans; watch what happened next
An Indian content creator and his Taiwanese friend have gone viral after cleaning up plastic bottles, food wrappers and other litter scattered across Mussoorie's Dalai Hills. The duo had visited the viewpoint for sightseeing but were shocked by the waste dumped across the hillside. The video shared by Anant M has sparked debate online over civic sense, tourist behaviour and the growing problem of littering at popular hill stations across India.
Gold jewellery at home: How much can you keep without fear of Income Tax seizure?
People can legally own gold without a prescribed maximum quantity if they explain its source. The Income Tax Department has guidelines regarding the non-seizure of gold jewelry during searches. Married women can own up to 500 grams, while unmarried women are allowed 250 grams and male members 100 grams. These limits do not automatically exempt individuals from income tax liabilities.
Insurance agent deposits Rs 35 lakh cash collected from policyholders in his bank account, gets tax notice; he fights and wins in ITAT Jaipur
Policyholders gave Rs 35 lakh cash as insurance premiums which agent deposited in his bank a/c; Income Tax Dept sent agent notice for unexplained cash; he wins case in ITAT Jaipur.
Sounds of sustainability: Yamaha’s test of whether instrument-making and forest conservation can strike a chord
Yamaha's environmental initiative is dedicated to conserving and cultivating forests used in musical instrument production, with a specific focus on preserving Indian rosewood.
How businesses are using generative AI to create content at scale
The integration of generative AI into creative workflows is revolutionizing content production and innovation. Many Indian creators are witnessing enhanced business success and operational efficiency through these tools. Nonetheless, human intervention is vital to uphold brand consistency and quality in the final results. At the ET AI Awards 2027, outstanding organizations leveraging generative AI in their creative practices will be celebrated.
Big-budget Ramayana set for a slow start at theatres
Advance ticket sales for The Ramayana: Part 1 have not met the expectations of trade analysts and distributors. Data shows that ticket sales are underwhelming despite the film's grand scale and marquee cast. Concerns have been raised about the film's music not resonating with audiences and the quality of its VFX. Experts have highlighted inflated advance booking figures, suggesting lower actual sales than reported.
Premji's deeptech bets; Razorpay gets IPO nod
Happy Thursday! Premji Invest is stepping up its bets on defence and aerospace manufacturing.This and more in today’s ETtech Morning Dispatch.
Exit Polls 2026: How to check early Election insights and what they reveal about voters
Exit polls are poised to shed light on voter behavior and preferences during the crucial 2026 midterms. Conducted post-voting, these polls will delve into candidate choices and pressing topics such as economic concerns. Major outlets, including NBC News, will evaluate data from around 100,000 participants across the country. While initial findings may highlight demographic trends, concrete candidate preferences will await the conclusion of polls.
Gold vs silver ETFs: Which metal offers better opportunity for investors this Diwali?
During the festive season of Diwali, savvy investors often gravitate towards gold and silver seeking security. Experts recommend evaluating personal investment goals to decide on gold, known for its stability, or silver, which presents higher risks but potential for greater returns. Recent data shows gold ETFs delivered 9.22% returns, while silver ETFs outperformed with 14.05%. A balanced approach within your portfolio can lead to sustainable wealth amidst market fluctuations.
Small & midcap funds remain top bets for investors in first half of FY27
During the first half of FY27, mid-cap funds received ₹38,043 crore and small-cap funds attracted ₹42,212 crore. This increased their share in total equity inflows to 20% and 22.6%, respectively. In contrast, large-cap funds saw a decline with inflows of just ₹4,575 crore. The combined net Assets Under Management (AUM) of small and mid-cap funds rose 24% year-on-year. Overall, total equity AUM grew by nearly 12% to reach ₹33.
Delhi friends take auto to Bihar after failing to get train tickets; 1,200-km journey for Chhath Puja wins internet's respect
Unable to get train tickets for Chhath Puja, a Delhi man named Rishav Thakur has taken an auto-rickshaw to travel to Madhubani in Bihar with his companions. The group is making the unusual journey after missing the festival at home for nearly three years. His videos have attracted attention on social media.
Rs 15,000 per day: Maggi seller at Himachal's Rohtang Pass reveals his off-season earnings, Viral video reveals daily sales breakdown
At Rohtang Pass, a Maggi vendor shares that he sells between 60 and 70 plates daily, along with 200 cups of tea, leading to a daily income of around Rs 14,000 to Rs 15,000 during off-peak times. The content creator speculates on how much more the vendor could earn in the tourist season.
India’s medicine sales grow in double digits for four straight quarters, led by chronic care drugs
Over the past four quarters, India's medicine sales have increased significantly due to rising demand in chronic care segments. The growth rate reached 12% year-on-year in the September quarter, showing a positive trend in the industry. Larger pharmaceutical companies have benefited from the shutdown of many non-compliant smaller units. Budgets were also boosted by a reduction in GST on medicines.
ET Wealth Expo: How should investors deploy Rs 10 lakh over next 10 years? Prateek Agrawal of Motilal Oswal AMC explains
Investors building a Rs 10 lakh mutual fund portfolio with a 5-10 year horizon should focus on growth-oriented strategies and consider diversifying across two fund managers, says Prateek Agrawal of Motilal Oswal AMC. He highlights flexi-cap funds, emerging sectors and AI-linked businesses as opportunities, while advocating focused investing and a mix of growth and value strategies.
HDFC Large Cap Fund turns Rs 10,000 monthly SIP to over Rs 8 crore in 30 years
HDFC Large Cap Fund has turned a monthly SIP of Rs 10,000 into Rs 8.46 crore over 30 years, while a lump-sum investment of Rs 1 lakh grew to Rs 1.30 crore. Launched in 1996, the fund has delivered a 17.62% CAGR, according to HDFC Mutual Fund.
ET Wealth Expo: Vijay Kedia explains why investors need patience, says some crops take 5 years to grow
Vijay Kedia says patience is essential to building wealth in the stock market, comparing investing with farming, where some crops take years to yield results. He shares his three principles for investors, the SMILE formula for spotting multibaggers and lessons from his investing journey.
ET Wealth Expo: Saurabh Mukherjea suggests a simple 50:50 portfolio to diversify across India and the US
Saurabh Mukherjea recommends a simple 50:50 portfolio split between the Nifty 50 and the S&P 500, with annual rebalancing, to diversify across India and the US. He explains how the strategy can improve returns relative to risk, reduce volatility and help investors avoid predicting which market will outperform.
My broken office printer has more job security than me: Corporate employee's rant on why a machine can't be disposed unlike humans goes viral
A corporate employee's account of a printer that has been broken since 2021 but cannot be disposed of because of company policies has sparked online reactions. After repeated rejections from Finance and Facilities, the employee was eventually made the machine's official custodian, joking that it had more job security than he did.
ET EXPLAINER: What do the new REIT regulation amendments mean for investors?
SEBI amended REIT regulations to revise unitholder voting thresholds, introduce exit options for dissenting investors during specified sponsor exits, permit depository receipts against REIT units and modify common infrastructure definitions, with implications for governance, investor protection and market access.
Building B2B authority: How brands win the trust of key decision-makers
A brand gets the credibility and trust it strives for when it is noticed by the decision-makers with the right solutions. Explore how thought leadership, executive discussions, interviews, and strategic content can help businesses strengthen their position and build lasting relationships with key stakeholders.
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