Q1FY21 Indian Economy contracts by 23.9%

Q1FY21 #Economy GDP at constant prices: ₹26.90 lkh cr vs. ₹35.35 lkh cr (YoY), a contraction of 23.9% vs. 5.2% growth (YoY). GVA at constant prices: ₹25.53 lkh cr vs. ₹33.08 lkh cr (YoY), a contraction of 22.8%. These numbers to undergo revision in next release - 27th Nov.
Read More

Reliance Retail to acquire retail, wholesale, logistics & warehousing businesses of Future Group for Rs 24,713 cr

FUTURE GROUP - RELIANCE DEALAppears Win-Win Future Gets a BuyerReliance Gets an asset to growBanks don't have to take a big haircut Only concern: Will other listed players feel the competitive heat? Both in the Markets and the Market Place? Future Merger Ratio +ve for other listed entities Swap ValuesFuture Cons at 18 vs CMP of 11.5 (+57%)Future Retail at 202 vs CMP of 135.2 (+49%)Future Life at 232 vs CMP of 145 (+60%)Future Supply at 262 vs CMP of 151 (+74%)Future Mkt Network at 36 vs CMP of 27 (+35%) Reliance - Future DealAssuming the value of Future Ent as 17.65 based on Pref Allotment Price for Reliance vs CMP 20.2 Swap ValuesFut Cons at 16 (+38.4% prm)Fut Retail at 178 (+31.8% prm)Fut Life at 205 (+41.1% prm)Fut Supply…
Read More

All About filing ITR 1 Sahaj For AY 20-21

Income Tax
All About filing ITR 1 Sahaj Who Should use this ITR1 Sahaj ? This form is for Individuals being a Resident (other than not ordinarily resident) having total income upto Rs. 50 lakhs, having Income from Salaries, one house property, other sources and agricultural income up to Rs. 5,000. Who is not eligible to use Form ITR-1 (Sahaj) for A.Y. 2020-21? This ITR Form should not be used by an individual who (Either conditions is fulfilled)– a) is a Director in a company; (b) has held any unlisted equity shares at any time during the previous year; (c) has any asset (including financial interest in any entity) located outside India; (d) has signing authority in any account located outside India; or (e) has income from any source outside India. This…
Read More

Stamp Duty rates reduced to 2%: Maharashtra Cabinet Decision

Economy, General
Maharashtra cabinet on Wednesday approved the proposal of reducing stamp duty by three per cent for period September 1 to December 31, 2020, while reduction of two per cent between January 1, to March 31, 2021, across the state. The state government charges a five per cent stamp duty against a total cost of the property and one per cent stamp duty or Rs 30,000 registration whichever is lower.  
Read More