Business

Apart from seven Acts related to indirect taxation being amended, the government would also be bringing changes to seven laws related to direct taxation.

Yes Bank was the biggest loser in the Sensex pack, cracking over 10 per cent, after the company reported a massive slump of 92.44 per cent in its consolidated net profit.

The broader NSE Nifty ended 24.90 points or 0.21 per cent up at 11,687.50. During the day, the index hit a high of 11,706.65 and a low of 11,651.15.

Sandeep Sinha was appointed as MD of Cummins India in February 2018. Prior to that, he was the chief operating officer (COO) of the company.

The broader NSE Nifty ended 35.85 points, or 0.31 per cent, up at 11,588.35. During the day, the index hit a high of 11,618.40 and a low of 11,532.30.

Last week, Allahabad Bank had reported fraud of over Rs 1,774 crore by Bhushan Power & Steel to the RBI. Earlier, PNB reported a fraud worth Rs 3,805.15 crore by BPSL by misappropriating bank funds and manipulating its books of accounts.

The government has said it detected several violations of auditing standards by Deloitte and a KPMG affiliate while investigating fraud at IFIN, a unit of Infrastructure Leasing & Financial Services, whose debt defaults last year triggered fears of a fina...

The retail inflation based on the Consumer Price Indiex (CPI) stood at 3.05 per cent in May and 4.92 per cent in June 2018. The retail inflation is on the rise since January this year.

Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading on a positive note in their respective early sessions. Meanwhile, bourses on Wall Street too ended higher on Thursday.

Maruti Suzuki shares fell over 6% to breach the Rs 6,000 mark for the first time since 30 March 2017, Hero MotoCorp shares also dived over 6% , and Tata Motors also declined 4%.

The fraud, alleging diversion of funds from the banking system, was being reported to the RBI on the basis of the findings of the forensic audit and the CBI filing FIR, PNB said in a statement.

In the Budget presented on Friday, the government lowered the fiscal deficit target to 3.3 per cent of the GDP for 2019-20 as compared to 3.4 per cent projected in the interim Budget in February.

The pre-filled tax returns will contain details of salary income, capital gains from securities, bank interests, dividends and tax deductions, and the relevant information regarding incomes will be taken from several sources including banks.

Budget 2019 also proposed to tax gifts in the form of money or property situated in India by residents to non-residents.

India has potential to become education hub, Nirmala Sitharaman said while proposing Study in India programme to attract foreign students.

Finance Minister Nirmala Sitharaman has proposed to increase the current Foreign Direct Investment (FDI) limit for the insurance intermediaries from the current 49% to 100%.