Business

May142023 by Waqas-ChNo Comments

Are Gifts By Your Spouse Or Family Members Taxable? Here’s What IT Department Says

Monetary gifts received on occasions like birthday, anniversary, etc. will be charged to tax. (Representative image)Gifts received on the occasion of a person’s marriage will not be subject to taxation. It’s always a nice feeling to get gifts but one thing that often leaves taxpayers confused is the taxability of these presents. That too, if they are from one’s spouse or their family members. It is hard to keep a limit on such gifts. But you need not worry as the Income Tax Department has laid out a set of rules regarding the taxation of gifts received by an individual or Hindu Undivided Family (HUF). Let us take a look in detail at the laws and provisions regarding gifts from spouses or other family members.According to a circular, by the I-T department, a gift is classified as any sum...

May142023 by Waqas-ChNo Comments

Ola Electric Sets Up Largest Electric Scooter Retail Network In India, Opens 500th Store | Electric Vehicles News

Business

Ola Electric, today announced the opening of its 500th Experience Centre (EC) in Srinagar District of Jammu & Kashmir, as part of its strategy to expand its direct-to-consumer (D2C) presence across the length and breadth of the country. With presence in close to 300 cities, Ola has been actively launching ECs all over India, building the largest D2C retail network in the country’s automotive industry in under eight months since inaugurating its very first EC in Pune last year. Anshul Khandelwal, CMO, Ola Electric said, “With the inauguration of our 500th store in India, we take immense pride in accomplishing our objective of establishing a comprehensive presence across the entire nation through our direct-to-consumer (D2C) approach. This remarkable milestone serves as a t...

May132023 by Waqas-ChNo Comments

Why Some Companies Are Saying ‘Diversity and Belonging’ Instead of ‘Diversity and Inclusion’

Business

Woodward is a 153-year-old aerospace company that required its male employees to wear bow ties into the 1990s.So Paul Benson, the company’s chief human resources officer, knew that creating a companywide diversity, equity and inclusion program would require a seismic shift. “Look at our org chart online, and we’re a lily-white leadership team of old males,” he said. But employees were eager for a more inclusive culture.“People want to feel like they belong,” Mr. Benson said. “They want to come to work and not feel like they have to check themselves at the door.”Last summer, Mr. Benson started searching for a diversity consultant who was up to the task. He hoped to find a relatable former executive “who had seen the light.”Instead, a Google search led him to a Black comedian and former m...

May132023 by Waqas-ChNo Comments

D-Mart’s Q4 net profit up 7.8% to Rs 460.1 crore, revenue up 20.5% to Rs 10,594 crore

Business

NEW DELHI: Avenue Supermarts Ltd, which owns and operates the retail chain D-Mart, on Saturday reported an increase of 7.81 per cent in its consolidated net profit at Rs 460.10 crore for the fourth quarter ended March 31, 2023.The company had posted a net profit of Rs 426.75 crore in the January-March quarter a year ago, said Avenue Supermarts in a BSE filing.Its revenue from operations was up 20.57 per cent to Rs 10,594.11 crore during the quarter under review as against Rs 8,786.45 crore in the corresponding quarter last fiscal.Avenue Supermarts' total expenses were at Rs 10,002.21 crore, up 21.82 per cent in Q4/FY 23, as against Rs 8,210.13 crore in the corresponding quarter.Total income of Avenue Supermarts in the March quarter was at Rs 10,627.18 crore, up 20.5 per cent.For the fis...

May132023 by Waqas-ChNo Comments

Skipton: Will deposit-free mortgages help budding first-time buyers?

Business

Will Skipton Building Society's deposit-free deal help those hoping to buy in the lender's home town? Source link

May132023 by Waqas-ChNo Comments

Companies, investors and markets are preparing in case debt ceiling talks fail

Business

Comment on this storyCommentLike most business people, Sarah Spoja expects the nation’s political leaders to work out a deal to prevent the government from defaulting on its debt. But that doesn’t mean she is willing to bet a couple hundred million dollars on it.Spoja, 40, is the chief financial officer of Tipalti, a maker of finance software used by companies such as Twitter, Noom and Twitch. She’s responsible for managing her company’s cash, making sure there is enough on hand to pay the bills while earning a return on any surplus funds.As Washington draws closer to hitting the federal debt ceiling, the risks of a business-as-usual approach for companies like Tipalti are growing. If Congress does not raise the government’s borrowing limit soon, markets for stocks, bonds and currencies...

May132023 by Waqas-ChNo Comments

Inflation Reduction Act tax credit loophole boosts leasing

Business

Dave Walters of Orange County, California, stands by his newly leased Hyundai Ioniq 5 electric vehicle.Provided by Dave WaltersFed up with high gas prices and enticed by federal tax credits, Dave Walters decided he wanted an all-electric Hyundai Ioniq 5 for his next vehicle.The Orange County, California, resident initially thought about purchasing a used model, until he learned he could lease the vehicle and take advantage of a key loophole under the Inflation Reduction Act.Buying a used Ioniq, which is produced in South Korea and Indonesia, wouldn't earn him $7,500 off through a federal tax credit. Leasing the vehicle would."I ran the numbers — what it would be without the leasing credit and with the leasing credit — and that kind of put me over the top and that was the main thing of w...

May132023 by Waqas-ChNo Comments

Industry’s help sought to steer out of crisis

Business

ISLAMABAD: Minister for Commerce Syed Naveed Qamar on Friday declared that the government would take all possible measures to ensure ease of doing business for the business community. Talking to business leaders, he emphasised that they could play an important role in steering Pakistan’s economy out of the current crisis, according to a statement. “The government will take every possible measure to facilitate the business community with ease of doing business for economic development in the country,” he said. Lauding the efforts of industrialists for establishing a new industrial zone and constructing an expo centre in the capital, he assured them of the government’s cooperation for materialisation of the two projects. He called the schemes very important that would give a boost to i...

May132023 by Waqas-ChNo Comments

After the ‘State Secrets’ raids, China’s foreign companies are on edge

Business

Foreign companies in China are on tenterhooks following a series of national security raids on consultancy firms that have highlighted the risks of doing business in the era of Chinese leader Xi Jinping. Eric Zheng, the president of the American Chamber of Commerce, said on Tuesday he was concerned about reports that due diligence firms had been targeted by authorities as their work is “essential to doing business in China.” Chinese authorities should “more clearly delineate the areas in which companies can or cannot conduct such due diligence,” Zheng said in a statement. “This would give foreign companies more confidence and enable them to comply with Chinese regulations.” Zheng’s remarks follow a similar warning by the US business group last month that China’s recent expansion of it...

May132023 by Waqas-ChNo Comments

Protecting Motherhood, 5 Crucial Insurance Policies Every Mom Needs

Business

By Tarun MathurA mother’s life is synonymous to running round the clock, juggling one task after the other, and efficiently shouldering all responsibilities to make her family and children secure and comfortable in all possible ways. Undoubtedly, motherhood is the most wonderful experience, but it also goes hand in hand with a lot of responsibilities. However, in the middle of endless to-do lists, financial planning often tends to take a backseat for mothers.This Mother’s Day, you should consider purchasing adequate insurance coverage for yourself and your family to safeguard against any unforeseeable financial hardships.1. Health insurance is highly relevant- A household practically revolves around a mother so it’s important that they ensure every step to take care of their health. Wom...