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The Finance Ministry briefed the members of a Select Committee on the new Income Tax Bill, which aims to simplify the six-decade-old Act and make it user-friendly. The Bill, introduced by Finance Minister Nirmala Sitharaman, will replace terms like "assessment year" with "tax year". The 31-member committee, led by BJP MP Jay Panda, will report by the Monsoon session.
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Indias investment landscape is evolving as 45% of young investors under 35 prefer stocks over traditional savings. Digital platforms drive this shift, with 68% relying on technology for investment learning. Virtual trading and financial literacy play key roles in this transformation.
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Kotak Institutional Equities reported that IndusInd Bank, JSW Steel, Apollo Hospitals, and Asian Paints have over 5% pledged promoter holdings. The total pledged holdings in BSE-500 companies stood at 1.63 trillion in December 2024, showing a slight decline from the previous quarter.
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