The study found that the average taxable income reported by the bottom 10 per cent of households was more than 170 per cent of family wealth

chart

For property bought as resident or inherited, up to $1 mn can be sent each year

Westside store, Trent, Mumbai, customers, shopping, malls

Rental income of retail malls is expected to increase by 30 per cent in this financial year compared to the last year mainly driven by pent-up demand, vaccination cover and resumption of multiplexes

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For individuals, the safe option is to offer rent as income from house property

Adani Group on Thursday bagged two contracts worth Rs 13,888 crore from a state-owned discom to install smart meters.
A total of six tenders were awarded by the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to install smart meters, of which two have been bagged by the Adani Group, according to an official communiqu from the discom seen by PTI.
The diversified group, which has a sizeable presence in the power sector and had recently won a Rs 1,000 crore contract to install smart meters in the area serviced by BEST Undertaking in Mumbai, will act as an advanced metering infrastructure service provider for smart prepaid metering in MSEDCL, it said.
The two zones awarded to Adani include Bhandup, Kalyan and Konkan having 63.44 lakh meters, and Baramati and Pune having 52.45 lakh meters, it said.
Letter of Awards have been issued to the successful firms, as per the communiqu.
Officials from Adani Group were not immediately available for comment.
The group's transmiss

Adani, Adani Group

Closing Bell on Thursday, September 21: The broad-based selling was led by public sector banks with the Nifty PSU Bank index sliding 2.3 per cent

bear market, sensex, nifty, loss, growth, investment

Tensions have been high since Canadian PM Trudeau on Monday alleged that the Indian government was behind the fatal shooting of Hardeep Singh Nijjar

visa, Canada

Stocks held by Canada Pension Plan Investment Board (CPPIB), which is among the biggest FPIs investing in the domestic market, have come under pressure since developments on the India-Canada tensions

India-Canada tensions: Multi-billion economic deals at risk if rift widens

India-Canada

Catch all the latest updates from across the globe here

Manipur

Iran's president on Monday denied his country had sent drones to Russia for use in the war in Ukraine, even as the United States accuses Iran of not only providing the weapons but helping Russia build a plant to manufacture them.
"We are against the war in Ukraine," President Ebrahim Raisi said as he met with media executives on the sidelines of the world's premier global conference, the high-level leaders' meeting at the UN General Assembly.
The Iranian leader spoke just hours after five Americans who had been held in Iranian custody arrived in Qatar, freed in a deal that saw President Joe Biden agree to unlock nearly USD 6 billion in frozen Iranian assets.
Known as a hard-liner, Raisi seemingly sought to strike a diplomatic tone. He reiterated offers to mediate the Russia-Ukraine war despite being one of the Kremlin's strongest backers. And he suggested that the just-concluded deal with the United States that led to the prisoner exchange and assets release could "help build trust"

Iran’s flag at the IAEA headquarters. Iran is now enriching small amounts of uranium to its closest-ever levels to weapons-grade purity as its stockpile continues to grow

Iran Flag

Isro also informed that it marked the fifth consecutive time that the Isro had successfully transferred an object on a trajectory toward another celestial body or location in space

Aditya-L1, L1 point

Former President Donald Trump will travel to the battleground state of Michigan next week to meet with striking autoworkers instead of participating in the second Republican presidential debate, a person familiar with his plans said Monday.
Trump, who also skipped the first debate last month, has signaled that he is already focused on the 2024 election against President Joe Biden as he maintains a wide lead against his GOP rivals in primary polls. In recent days, he has been leaning hard into the strike, painting himself as sympathetic to the workers and accusing Biden of trying to destroy the car industry by expanding electric cars and other green energy policies.
The September 27 trip, first reported by The New York Times, will also include a primetime speech, according to the person familiar with the plans who spoke to The Associated Press on condition of anonymity before they were made public.
That's the date others in the GOP field will gather at the Ronald Reagan Presidential 

Donald Trump

Day 2 of Parliament's special session will commence today in the new building. Catch all the latest updates related to the session here

Union Minister for Parliamentary Affairs Pralhad Joshi speaks with Leader of Opposition in the Rajya Sabha Mallikarjun Kharge

Morgan Stanley said in a statement, "The Firm does not believe the claims have merit and will defend itself vigorously."

Morgan Stanley

The fiscal burden of states will increase over time

pensions, funds, retirement, investments, investors, savings

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

TRAI

The government introduced the Women's Reservation Bill in the Parliament almost three decades after it was first drafted

Parliament

Canada identifies expelled Indian diplomat as RAW station chief in Ottawa, sources say Canadian diplomat expelled from Delhi is intelligence officer

Prime Minister Narendra Modi with Canadian Prime Minister Justin Trudeau

MEA's statement comes after Canada expelled an Indian diplomat on Monday as it investigates credible allegations that India's government may have had links to the assassination in Canada

Canadian Prime Minister Justin Trudeau arrives for his daily press conference on COVID-19, in front of his residence at Rideau Cottage in Ottawa. Photo: PTI

Justin Trudeau

Here is the best of Business Standard's opinion pieces for today

MSMEs

India attended a two-day meeting convened by a neutral expert in Vienna that was part of proceedings aimed at resolution of a dispute between New Delhi and Islamabad on the Kishenganga and Ratle hydroelectric projects in Jammu and Kashmir.
Senior Advocate Harish Salve was present in the capacity of India's lead counsel in the matter, the Ministry of External Affairs (MEA) said on Thursday.
"A delegation from India, led by Secretary, Department of Water Resources, attended a meeting of the neutral expert proceedings in the Kishenganga and Ratle matter at the Permanent Court of Arbitration in Vienna on September 20 and 21," it said.
The MEA said the meeting was convened by the neutral expert appointed on India's request under the aegis of the Indus Waters Treaty and was attended by representatives of India and Pakistan.
"India's participation in this meeting is in line with India's consistent, principled stand that as per the graded mechanism provided for in the Indus Waters Treaty, 

india-pakistan

Prime Minister Narendra Modi on Thursday lauded the parliamentary's approval to the women's reservation bill as a defining moment in the nation's democratic journey.
Parliament approved the bill for reserving one-third of seats in the Lok Sabha and state assemblies for women with the Rajya Sabha unanimously clearing it on Thursday. All 214 MPs present in the Upper House voted in favour of it.
"This is not merely a legislation; it is a tribute to the countless women who have made our nation. India has been enriched by their resilience and contributions," Modi posted on X as the Rajya Sabha unanimously passed the bill a day after its approval by the Lok Sabha.
"A defining moment in our nation's democratic journey! Congratulations to 140 crore Indians. I thank all the Rajya Sabha MPs who voted for the Nari Shakti Vandan Adhiniyam. Such unanimous support is indeed gladdening," Modi said.
With the passage of the 'Nari Shakti Vandan Adhiniyam' in Parliament, an era of stronger ...

PM Modi

More than 10 people were injured when Manipur security forces fired tear gas shells on protesters for trying to storm police stations and court arrest demanding the unconditional release of the five arrested youths on Thursday.
As a precautionary measure, the state government cancelled curfew relaxations in the twin districts of Imphal from 5pm, officials said.
Responding to a call by six local clubs and Meira Paibis demanding the release of the five village volunteers, hundreds of protesters holding placards and shouting slogans tried to enter the Porompat police station in Imphal East and Singjamei police station and Kwakeithel police outpost in Imphal West district.
However, police and RAF personnel deployed at strategic positions fired several rounds of tear gas shells to disperse the crowd.
A protester, identified as Th Bimola at Porompat said, "We were left with no option but to court arrest as the government failed to release the five village volunteers. If such village ...

The Information and Broadcasting Ministry on Thursday advised TV news channels to refrain from giving platform to those belonging to proscribed organisations or facing charges of terrorism and serious crimes.
In an advisory to all private satellite TV channels, the ministry said it has come to its notice that "a person" in a foreign country who faces serious cases of crime including terrorism was invited for a discussion on a television channel.
During the discussion, the person made several remarks detrimental to the sovereignty and integrity of India, its security and friendly relations with a foreign state, the ministry said, without naming the person or the news channel.
The remarks of the person also had the potential of disturbing public order in the country, the ministry added.
While the government upholds media freedom and respects its rights under the Constitution, the content telecast by the TV channels must adhere to the provisions of the Cable Television Networks ...

TRP, tv news channels, viewership, media, entertainment, OTT

Heatmap

Tax on rental income

Wealthy Indians reporting lower income, paying less tax: DSE study

NRIs can repatriate funds from sale of two houses, say experts

Rental income of retail malls to increase by 30% in FY23, says report

Tax on rental income depends on owner's business