Infosys co-founder N R Narayana Murthy recently gifted 15 lakh shares of the company to his grandson Ekagrah Rohan Murty, valued at approximately Rs 240 crore, according to a regulatory filing. Even if you are not a tech billionaire, gifting financial assets to family members is a great idea, as such gifts have the… Continue reading Income from shares gifted to minor child gets clubbed with donor’s income | Personal Finance
Tag: income
Individuals reporting annual income of above Rs 1 cr doubles in 2 yrs
Individuals reporting annual total income of over Rs one crore have doubled to 1.69 lakh in the two-year period ending March 2022, the income tax department data showed. As per the tax return data filed in assessment year (AY) 2022-23, relating to income earned in fiscal 2021-22), 1,69,890 individuals have shown total income… Continue reading Individuals reporting annual income of above Rs 1 cr doubles in 2 yrs
Bank of Baroda Q1FY24 proft rises 87.7% on growth in net interest income
Public sector lender Bank of Baroda’s net profit rose by 87.7 per cent on a year-on-year (YoY) basis at Rs 4,070 crore in quarter ended June 2023 (Q1FY24) on robust growth in net interest income as well as non-interest income. Sequentially, the public sector lender’s profit went down from Rs 4,775 crore in… Continue reading Bank of Baroda Q1FY24 proft rises 87.7% on growth in net interest income
Adani Wilmar posts Rs 79 cr loss in June quarter due to lower income
Adani Wilmar sells edible oils and other food items under Fortune Brand. Edible oil major Adani Wilmar on Wednesday reported a net loss of Rs 79 crore in the June quarter due to lower income amid fall in prices of cooking oils. The company had posted a net profit of Rs 194 crore… Continue reading Adani Wilmar posts Rs 79 cr loss in June quarter due to lower income
Don’t forget to verify your income tax return in August: Here’s the process
Now that you have filed your income tax return, remember to verify it because your return filing process is not complete unless you do so. The CBDT has reduced the time limit of ITR verification to 30 days (from 120 days) from the date of return submission. The new rule is applicable for the… Continue reading Don’t forget to verify your income tax return in August: Here’s the process
Here are some ways to file your income tax return
The last date for salaried individuals and non-audit cases to file income tax returns (ITR) for the financial year 2022-23 is July 31. Individuals who miss out on the deadline can still file their ITRs but will have to face some trouble. The ITRs filed after July 31 are called belated ITRs and individuals… Continue reading Here are some ways to file your income tax return
Per capita income to grow nearly 70% to $4,000 by FY30 from $2,450 in FY23
The country’s per capita income is likely to grow by close to 70 per cent to USD 4,000 by fiscal 2030 from USD 2,450 in fiscal 2023, helping it become a middle-income economy with USD 6-trillion GDP, more than half of which will be coming in from household consumption, says a research report. … Continue reading Per capita income to grow nearly 70% to $4,000 by FY30 from $2,450 in FY23