Author: Legal Parivar

Advance tax collections for the period up to June 16 of FY25 have surged by 28 percent compared to the same period last year, totaling Rs 1.48 lakh crore, as reported by sources to business channel ET Now. Corporate tax collections reached Rs 1.6 lakh crore, while personal income tax receipts amounted to Rs 3.79 lakh crore from April 1 to June 16, according to ET Now. Gross tax receipts for this period have reached Rs 5.15 lakh crore, reflecting a substantial year-on-year growth of 22.89 percent. Advance tax is essentially tax paid before the end of the financial year,…

Life Insurance Corporation of India (LIC) is planning to raise $6-7 billion by selling its plots and commercial buildings, according to a report by Livemint. The insurance giant has assembled an internal team to devise a sale plan for its real estate assets across the country, starting with Mumbai, sources cited in the report said. This asset monetisation plan comes as the state-run insurer faces increasing competition from the private sector, impacting its market share. Some of LIC’s premium assets include the Jeevan Bharti building in Delhi’s Connaught Place, the LIC building on Chittaranjan Avenue in Kolkata, and buildings housing…

Multibagger stock Hindustan Aeronautics (HAL) saw its share price surge over 5% in early trading on Tuesday, reaching 52-week highs. This spike followed news about government tenders for Light Combat Aircraft. HAL shares, which have already provided multibagger returns by gaining over 170% in the past year, also reached an all-time high today. In a statement to the exchanges, HAL announced, “The Ministry of Defence has issued a Request for Proposal (RFP) for the procurement of 156 Light Combat Helicopters (90 for the Indian Army and 66 for the Indian Air Force).”

On June 18, Paytm’s (One 97 Communications) share price surged by up to 4 percent, reaching Rs 442, following news that the company is in discussions with Zomato to sell its movie ticketing business. Meanwhile, Zomato’s share price increased by 1 percent, surpassing Rs 188. Both companies confirmed the talks in separate stock exchange filings but did not reveal valuation specifics. According to unconfirmed reports, the deal could be valued between Rs 1,500-2,000 crore.

The power of compounding is a fundamental concept in personal finance that can significantly impact your long-term wealth accumulation. Compounding refers to the process where the value of an investment grows exponentially over time as the earnings on an asset generate their own earnings. This principle is vital for anyone looking to build wealth, save for retirement, or achieve other long-term financial goals. How Compounding Works Compounding works by reinvesting the interest or earnings from an investment back into the original investment, leading to a snowball effect. Over time, this results in the investment growing at an increasing rate because…

VentureSoul Capital, a SEBI-registered Category II Alternative Investment Fund (AIF), has introduced its first debt fund, VentureSoul Capital Fund I, with a target corpus of up to ₹600 crore. The fund has already attracted commitments from family offices, corporates, high-net-worth individuals (HNIs), and other prominent investors. Key Investors and Fund Focus Micro Labs Ltd. serves as the anchor investor for this tech-focused structured debt fund. Other notable investors include E Madhusudan, Founder of Kreditbee, Abhishek Khemka, Promoter of Baazar Kolkata, and Ponnuswami M of Pure Chemicals Group. Investment Strategy The fund aims to achieve its first close soon and will…

Inflation is a measure of the rate at which the general price level of goods and services in an economy rises over a period, leading to a decrease in the purchasing power of money. It’s an essential economic concept that affects everything from the cost of living to investment decisions. The Impact of Inflation on Investments Strategies to Mitigate Inflation Risk Conclusion Inflation has a profound impact on investment decisions, affecting the real returns across different asset classes. Understanding how inflation erodes purchasing power and strategically adjusting investments can help investors protect and grow their wealth over time. By diversifying…

Prime Minister Narendra Modi expressed deep sorrow over the tragic train accident involving the Kanchenjunga Express in West Bengal, offering condolences to the families who lost their loved ones and wishing a speedy recovery to the injured. He announced that an ex-gratia amount of Rs 2 lakh from the PMNRF would be provided to the next of kin of each deceased person, with Rs 50,000 allotted to each injured individual. “The railway accident in West Bengal is deeply saddening. Condolences to those who lost their loved ones. I pray for the speedy recovery of the injured. I have spoken to…

Union Education Minister Dharmendra Pradhan has reiterated the government’s commitment to accountability and fairness amidst the ongoing NEET controversy. He emphasized that stringent actions will be taken against any officials found guilty of malpractice. Addressing the NEET controversy, Pradhan stated, “In accordance with the Supreme Court’s directives, a re-test has been mandated for 1,563 candidates due to irregularities identified at two locations. The government is treating this issue with utmost seriousness.” “If senior officials of the NTA are found culpable, they will face severe consequences. Significant reforms are imperative within the NTA, and we are dedicated to ensuring that wrongdoers…

Durlax Top Surface IPO: The initial public offering (IPO) of Durlax Top Surface Limited is set to hit the Indian primary market on June 19, 2024, and will remain open for bidding until June 21, 2024. The company, a manufacturer of solid surface materials, has fixed the IPO price band at ₹65 to ₹68 per equity share. The IPO, which will be listed on the NSE SME Emerge platform, is a mix of fresh issues and offers for sale (OFS). Key Details of Durlax Top Surface IPO: Company Management’s View: Shravan Suthar, Chairman and Managing Director of Durlax Top Surface…