The Central Board of Direct Taxes (CBDT) has started a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to assist taxpayers in correctly completing the Schedule overseas assets and appropriately reporting income from overseas sources in their income tax returns (ITRs). As part of this campaign, informational messages will be sent via SMS and email to resident taxpayers.
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Indian markets are in a correction phase, with Nifty and Sensex falling 10% from their peak due to weak Q2 results and foreign fund outflows. Many smallcap and midcap stocks have suffered significant losses, while a few have bucked the trend. Analysts expect continued volatility in the short term, but see potential in beaten-down value stocks and a likely bounce in the Nifty index.
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The shares of Oravel Stays Limited, which owns and runs the brand Oyo are being traded in the Rs 53 to 55 range, translating to a valuation of nearly $ 4.4 billion. This is 28% below the high of Rs 77 per share it had touched in February 2024. The price had dipped to Rs 38 in June this year during the Rs 1457 crore Series G primary raise Oyo had conducted at Rs 29 per share.
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