Thu, Feb 1, 2024 3:48 PM
Concessional corporate tax rate of 15% for eligible ‘start-ups!
A Flip by Avya Verma
MicroStrategy Inc. (MSTR) bought another $5.4 billion in Bitcoin, marking its third acquisition this month as the company rapidly increases its holdings. The enterprise software company purchased the Bitcoin in part with proceeds from a $3 billion convertible senior note offering. The Tysons Corner, Virginia-based firm has been focused on becoming a Bitcoin treasury company.
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New India Assurance Company Ltd. secured a favorable ruling from the Income Tax Department, entitling it to a cumulative tax refund of ₹1,945.08 crore, including ₹489.22 crore as interest, for assessment years 2013-14 to 2019-20. The company is actively engaging with tax authorities to expedite the release of the refund.
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The U.S. equity market has been on a remarkable run in 2024, with the S&P 500 posting gains of over 25% YTD, outpacing India's Nifty50, which has risen 11% during the same period. However, as highlighted by Gary Dugan, CEO of The Global CIO Office in a note, this rally warrants cautious optimism. The forward P/E multiple of the S&P 500 has surged to 25.2x, its highest level in 23 years.
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