Latest News
-
Honasa Consumer to Strengthen Operations by Merging Fusion Cosmeceutics and Just4Kids -
Wipro Reports 7.8% Decline in Q4 Net Profit; CEO Highlights Economic Challenges -
IREDA Hits Record Annual PAT of Rs 1,252 Cr in FY24; Q4 Profits Up by 33% -
Massive Employee Exodus Hits India's Top IT Companies in FY23-24 -
Air India Enhances Operational Efficiency with New Crew Management System -
BlackRock Acquires Shares in Electrosteel Castings and PTC India for Rs 207 Crore -
IndiGo Enhances Domestic Routes with Direct Chennai-Durgapur Flights -
Tesla to Recall Nearly 4,000 Cybertrucks Over Accelerator Pedal Fault -
Reliance, ONGC, Tata, Adanis: Energy Stocks Didn't Get The Memo Of Bears, Up 12% In 30-Days; 10 Stocks To BUY -
Sebi to Enhance Price Discovery for Firms Trading Below Book Value
FIIs net sell in equities despite GAAR delay
FIIs net sold equities worth Rs 592 crores on Tuesday, a day after the Finance Minister announced some changes/additions and a delay in implementation of GAAR.
After a couple of months of stress and anxiety over The General Anti Avoidance Rules (GAAR) and its provisions, Finance Minister Pranab Mukherjee on Monday deferred GAAR by a year.
Mukherjee also said the onus of proof of tax evasion would lie with the tax authorities and that the proposed retrospective amendment of income tax laws would not override DTAAs with 82 countries.
This has however failed to cheer investors and foreign institutional investors. A day after the announcement the markets dropped dramatically by more than 2%, with the Nifty falling below 5000 for the first time in four months.
GoodReturns.in
