Oil prices remain elevated due to rising tensions in the Middle East. President Trump's rejection of Iran's peace proposal has intensified market volatility, impacting both Brent crude and U.S. West Texas Intermediate prices. Concerns over diesel exports further complicate the situation, keeping traders on edge as the geopolitical landscape evolves.
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Can money collected for someone else be taxed as income? The ITAT ruling on ā¹20.33 lakh cash deposits highlights the complexities of tax law. An 89-year-old retired principal claimed the funds were hostel fees for an education society, with minimal surplus. The case is now returned to the tax officer for further investigation into the true ownership of the funds.
The ITAT in Chennai upheld ā¹85.30 lakh in cash gifts, stating low donor income isn't grounds for rejection. Taxpayer provided valid documentation and confirmations from all five donors, meeting the burden of proof under Section 68. This ruling clarifies tax implications for genuine gifts in India.
Gold and silver prices in India fell sharply today, September 28. Discover the latest retail rates for 24K and 22K gold, along with 999 silver in Mumbai, Delhi, and other major cities. Stay updated on precious metal trends and market fluctuations affecting your investments.
Discover the top hybrid funds delivering over 12% in five-year SIP returns, with Bank of India leading at 16.5%. Performance varies, as HDFC and ICICI Prudential show lower returns of 5.99% and 12.26%, respectively. Investors should consider these aggressive hybrid funds for better portfolio growth.