Wed, Jan 22, 2025 6:34 PM
Essar Group's Prashant Ruia sees lower battery prices boosting green plans
A Flip by Swapnil Tiwari
The Confederation of Indian Industry (CII) has called for a review of accounting standards for intangible assets, citing their critical role in value creation in India's digital economy, and recommending changes to recognize internally generated assets, such as brand development and proprietary algorithms, and to allow capitalization of development costs with long-term economic benefits.
Open Flip
There was a hue and cry after the Union Budget 2024-25 as the Centre increased the long-term capital gains (LTCG) tax on equity from 10% to 12.5%. However, since April 2023, the benefit of indexation has been taken away from debt-oriented mutual funds (MFs), and it is taxable at marginal slab rate (MSR). For most investors, the MSR is 30%.
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Norway's sovereign wealth fund said on Wednesday it has bought a 25% stake in a mixed-use property portfolio located in London's Mayfair district for 305.7 million pounds ($376.53 million). The 2.3 million square feet portfolio is predominately office and retail assets clustered around Grosvenor Street and Mount Street, the fund said in a statement.
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