Experience from Australia and New Zealand shows that these rules do not give a tax authority a carte blanche to attack tax arrangements that it does not like

Roneil Prasad: GAAR and the question of 'commercial substance'

Business Standard

Markets are expected to remain subdued at the beginning of 2025, facing headwinds from expensive valuations, structural issues in domestic consumption demand

Market, BSE, NSE, NIfty, Stock Market, investment

India's petrol and diesel consumption soared in December 2024 as holiday travel boosted demand, reversing the fall witnessed in previous months, preliminary data of state-owned fuel retailers showed on Wednesday.
While petrol sales had shown a year-on-year increase in recent months, diesel has been a laggard since monsoon. November was the first month that saw growth in diesel consumption and the trend continued into December.
Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, soared 9.8 per cent to 2.99 million tonne in December compared to 2.72 million tonne of consumption in the same month last year.
Diesel demand during the month was up 4.9 per cent to 7.07 million tonne.
This is the second straight month of auto fuels posting handsome increase in consumption. Petrol demand was up 8.3 per cent year-on-year in November and diesel consumption rose 5.9 per cent.
Road trips as well as air and rail travel during the holiday season in the second h

Savings for Indian refiners from purchasing Russian oil have decreased to a third of what they were in the years following Russia’s invasion of Ukraine, which triggered global crises, sanctions, and discounted Russian oil seeking buyers. Despite this

Savings for Indian refiners from purchasing Russian oil have decreased to a third of what they were in the years following Russia's invasion of Ukraine, which triggered global crises, sanctions, and discounted Russian oil seeking buyers. Despite this

Retail credit growth also slowed to 16.3% due to a decline in personal loans, credit card outstanding, and vehicle loans

RBI seeks info on NBFCs’ supply-chain financing

RBI seeks info on NBFCs' supply-chain financing

Prime Minister Narendra Modi said on Wednesday that the government's first decision in the New Year is dedicated to farmers, as the Union Cabinet headed by him enhanced allocation to crop insurance scheme and raised subsidy to a key fertiliser.
He said on X, "(Govt's) first decision of the New Near is dedicated to crores of farmer brothers and sisters of our country. We have approved increasing the allocation for crop insurance scheme. This will provide more security to farmers' crops and will also mitigate their concerns about any damage."
The Cabinet's decision on extending the one-time special package on Di-Ammonium Phosphate (DAP) will help farmers by ensuring the fertiliser at affordable prices, he added.
The Cabinet approved continuation of the 'Pradhan Mantri Fasal Bima Yojana' and Restructured Weather Based Crop Insurance Scheme till 2025-26 with an overall outlay of Rs 69,515.71 crore for 2021-22 to 2025-26. The decision will help in risk coverage of crops from ...

Modi, Narendra Modi

While Swiggy Instamart recorded its largest order of Rs 70,325 from a user in central Goa, Blinkit reported an order worth Rs 64,988 from a Kolkata user

food delivery

This reduction in the CRR released primary liquidity of approximately Rs 1.16 trillion into the banking system

Rupee, Indian Rupee

Markets Today Highlights:Broader markets also mirrored the benchmarks to settle higher, with Nifty Midcap100 and Nifty Smallcap100 ending with gains of 0.44 per cent and 1.02 per cent respectively

A Teflon resilience in markets that won’t let declines stick

A Teflon resilience in markets that won't let declines stick

Stay with us for all the major news updates from around the globe

2,000 note, Indian currency, Rupees

Zepto CEO Aadit Palicha shared interesting insights on user orders via social media

Quick commerce (Q-comm) platforms are bringing upon a rapid change in the behaviours of online shoppers, with 31 per cent of buyers relying on the fast delivery option for grocery needs, according to a new study. online grocery kirana

The previous session closed out 2024 with mixed sentiments. Despite a strong recovery from intraday lows, the benchmarks ended in the red, weighed down by losses in IT & select banking shares

Stock Market, BSE, Nifty, Capital

When Reliance founder chairman Dhirubhai Ambani wanted to pursue his long-cherished dream of setting up a refinery, he was offered land in the barren and desolate region off Jamnagar

Refinery

Haryana Steelers beat Patna Pirates by 11 points to overcome last season's nightmare and finally earn the right to call themselves the champions

PKL 2024 Final highlights

South Korean officials said they were investigating the cause of the crash of Jeju Air Flight 7C2216, including a possible bird strike

jeju air flight crash

In the 117th episode of his monthly radio broadcast "Mann ki Baat", Prime Minister Narendra Modi highlighted the growing global resonance of ayurveda, citing the inspiring work being done in Paraguay.
"There is a country in South America called Paraguay. The number of Indians living there would not be more than 1,000. A wonderful effort is being made in Paraguay. At the Indian embassy in Paraguay, Erica Huber offers ayurveda consultation. A large number of local people are reaching out to her to get ayurveda-based advice," the prime minister said.
This recognition underscores the unwavering commitment of the Ministry of Ayush to promoting ayurveda as a global system of health and wellness.
Union Minister of State (independent charge) for Ayush Prataprao Jadhav said, "We express our heartfelt gratitude to Prime Minister Narendra Modi for his visionary leadership in promoting ayurveda globally. The Ministry of Ayush remains steadfast in its commitment to advancing ayurveda as a ...

PM Modi, Mann Ki Baat

Patna Pirates are the only team in PKL history to defend their title in consecutive seasons.

Full list of PKL winners and runners-up

Kenya's cost-of-living crisis, to martial law in South Korea. Here's a look at major protests that erupted across the globe in 2024

Pro-Palestinian protests

Former US president Jimmy Carter had a personal connection with a Haryana village 'Daulatpur Nasirabad' where his mother had worked as a healthcare volunteer during the late 1960s

Jimmy Carter

RBI's focus on customer, compliance and collaboration will continue in 2025. It will have new initiatives balancing innovation and prudence

rbi reserve bank of india

Next time the GDP numbers are announced, the slowdown could be attributed to global economic weakness, rising oil prices, or another drop in domestic capex

Critical tweaks in laws, spirit of enterprise and the pandemic brought about this transition. Tech and innovation will now define the industry's future

Roneil Prasad

Roneil Prasad

Roneil Prasad

Roneil Prasad: GAAR and the question of 'commercial substance'

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Indices begin 2025 with gains, marking 7th consecutive first-session rise

Petrol, diesel sales soar in December as holiday travel boost demand

Credit growth to NBFCs declines to 7.8% in November, shows RBI data

Govt's 1st decision in 2025 for farmers: PM Modi on crop insurance schemes

New Year's Eve 2025: Blinkit, Zepto, Swiggy Instamart hit record orders

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