The Union Budget 2024 has introduced an important change in the taxation of rental income from residential property. To curb tax evasion, Finance Minister Nirmala Sitharaman has mandated that such income can only be declared under the 'Income from House Property' (IHP) head and not under the 'Profits and Gains from Business or Profession' (PGBP) category.

The deductions available under "Income from House Property" are different from those under "Profits and Gains from Business or Profession."

Shares of Bharat Heavy Electrical Limited (BHEL), on Monday, July 29, rallied as much as 3.05 per cent to hit an intraday high of Rs 327 per share on NSE.

The surge in the share price came after the company secured Rs 10,000 crore order for 1600MW Damodar Valley Corp project.

Vodafone Idea (Vi) plans to settle its outstanding legacy operational dues to Finland's Nokia, totalling around Rs 1,500 crore, through multiple cash instalments by December 2025, according to a report by The Economic Times.

The report quoted a source as saying, "But the Finnish vendor is yet to accept the proposal."

Former US Vice President Al Gore has endorsed Kamala Harris as the Democratic Party's presidential candidate for the high-stake election in November, citing her long record of standing up against oil and gas executives in support of the middle-class and the climate.

Vice President Harris, 59, launched her presidential campaign hours after incumbent President Joe Biden withdrew from the race for a second term on July 20.

India’s largest cement maker UltraTech Cement on Sunday said it would acquire a 32.72 per cent stake in India Cements from its promoters and their associates. The deal, valued at Rs 3,954 crore, will trigger an open offer, which, if fully subscribed, will raise the total cost for UltraTech to Rs 7,100 crore.

After signing the share-purchase agreements and obtaining regulatory approvals, UltraTech will pay Rs 3,954 crore at Rs 390 per share for the stake in India Cements, the Aditya Birla Group-owned company said in a statement on Sunday.

Tamil Nadu Chief Minister M K Stalin on Saturday launched a sharp attack against the ruling BJP at the Centre over the 2024-25 Union Budget, calling it a 'revenge' taken by the saffron party against the country and warned it will face more electoral defeats since it was committing "mistake after mistake."

Explaining his decision to boycott the Niti Aayog meeting scheduled in New Delhi under the Chairmanship of Prime Minister Narendra Modi on Saturday, Stalin said he was 'compelled' to speak in the people's forum, seeking justice due to the "discriminatory attitude" towards Tamil Nadu reflected in the budget.

Former US President Barack Obama and his wife Michelle Obama have endorsed Vice President Kamala Harris for the post of US president. The video, which featured a private phone conversation between the couple and the vice president, lasted around one minute.

“Earlier this week, Michelle and I called our friend @KamalaHarris. We told her we think she’ll make a fantastic President of the United States, and that she has our full support. At this critical moment for our country, we’re going to do everything we can to make sure she wins in November. We hope you’ll join us,” Obama posted on X with a video capturing a phone call between the couple and the current vice president.

Realty major DLF plans to launch nearly 37 million square feet area for sale in the medium term across various cities with revenue potential of Rs 1.04 lakh crore as part of its strategy to encash strong demand for luxury homes.

In its latest investor presentation for the April-June quarter, DLF informed about the "planned launches of Rs 1+ lakh crore (36 million square feet) of new products over the medium term".

ITC will invest Rs 20,000 crore in the medium term as it has “unwavering confidence” in India’s economic growth, said Sanjiv Puri, chairman and managing director of the consumer goods maker, on Friday.

Puri told shareholders at the company’s annual general meeting ITC was committed to partner the country in becoming the world’s third largest economy by building a “future tech, climate positive, innovative and inclusive national enterprise of pride”.

India's Paytm has got approval from the government for its Rs 50 crore ($5.97 million) investment in a key subsidiary, a top finance ministry official told Reuters on Friday.

The approval, which was stuck for months due to the company's link to China, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations.

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