Hnis

IIFL Wealth acquires L&T Finance Holdings' wealth management business for Rs 230 cr; says deal to help expand business

IIFL Wealth Management said the acquisition was for a total cash consideration of Rs 230 crore plus available cash balance of LTCM.

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Is liberalised remittances scheme becoming too liberal warranting a closer look? It is time govt set new limits

The rapidly increasing outbound remittances peaked to $1.69 billion in July (for a single month) 2019

Sensex plummets 793 points on Budget woes, global selloff; HDFC Bank, L&T, Bajaj Finance among major losers

Top losers in the Sensex pack included Bajaj Finance, ONGC, NTPC, Hero MotoCorp and Maruti, falling up to 8.18 percent.

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Angel tax concerns: Startups required to seek tax exemption from inter-ministerial board, says govt

Several startups have raised concerns on taxation of angel funds under Section 56 of the Income Tax Act, which provides for taxation of funds received by an entity.

Investment limit hike for EB-5 visa not likely till December; to cost $1 mn-3 mn: US official

The employment-based fifth preference category (EB-5) visa is meant for high networth individuals (HNIs) to earn the Green Card which offers permanent residency in the US for themselves and their immediate family through a one-time minimum investment of $00,000 into a new business that creates 10 or more jobs for the Americans.

Bitcoin rally: Income tax notices slapped on 4-5 lakh wealthy investors, evaders will have to pay capital gains tax

The trigger for the action is understood to be the huge spike being registered in the value of bitcoins and other virtual currencies in the recent past.

Bitcoin rally: Income tax sleuths conduct surveys on 9 major exchanges, detect HNI entries

Sleuths detected a number of high net worth individuals (HNIs) and customer IDs in these databases and prima facie about 20-25 lakh such entities have been traced.

Mumbai is India's richest city with $820 bn; Delhi distant second with $450 bn

The list also includes Hyderabad with a total wealth of $310 billion. Hyderabad is home to 9,000 millionaires and six billionaires.