BUSINESS HIGHLIGHTS
New Delhi, Jul 24 (PTI) Following are the top business stories at 2030 hours: DCM112 BIZ-CUSTOMS-REVENUE SECRETARY **** Customs duty structure review to focus on reducing number of rates: Revenue Secy New Delhi: The government is looking at bringing down the number of customs duty levies to five from about a dozen presently, as part of the duty rationalisation exercise, Revenue Secretary Sanjay Malhotra said on Wednesday. **** DEL42 BIZ-CBDT CHIEF-LTCG **** Real estate LTCG transactions sans indexation practically beneficial for taxpayers: CBDT Chairman New Delhi: The removal of indexation benefits from real estate transactions will turn out to be beneficial for taxpayers when it is seen through the prism of "actual market dynamics" rather than plain mathematics, CBDT Chairman Ravi Agrawal said on Wednesday. **** DEL43 BIZ-LD-STOCKS **** Sensex, Nifty close lower on profit taking in banks after budget; fall for 4th day Mumbai: Extending the losing streak to the fourth day, benchmark BSE Sensex declined by 280 points on Wednesday due to profit booking in financial and banking shares after the government announced a hike in securities transaction tax and short term capital gains tax in the budget for 2024-25. **** DEL70 BIZ-LD RUPEE **** Rupee falls 2 paise to hit all-time low of 83.71 against US dollar Mumbai: The rupee depreciated 2 paise to hit its all-time closing low of 83.71 against the US dollar on Wednesday, weighed down by a strong dollar against major crosses overseas amid investors' weak appetite for riskier assets. **** DEL14 BIZ-TAX-REAL ESTATE **** Majority of taxpayers to have substantial tax savings due to reduction of LTCG on real estate: I-T New Delhi: The Income Tax department on Wednesday said 'substantial tax savings' are expected for a vast majority of taxpayers due to reduction in the long term capital gains tax (LTCG) rate in the real estate sector. **** DEL40 RSQ-TOLL-GADKARI **** Govt to implement GNSS-based toll collection system at select NHs: Gadkari New Delhi: The road ministry has decided to initially implement global navigation satellite system (GNSS)-based toll collection system at select national highways on pilot basis as an added facility along with FASTag, the Rajya Sabha was informed on Wednesday. **** DCM59 LSQ-TELECOM-BSNL **** BSNL's losses narrow to Rs 5,371 cr in FY24 New Delhi: State-owned Bharat Sanchar Nigam Ltd (BSNL) has reported on-year rise in its Earnings Before Interest, Tax, Depreciation and Amortisation or EBITDA to Rs 2,164 crore for FY24, while losses narrowed to Rs 5,371 crore, Parliament was informed on Wednesday. **** DEL37 BIZ-GOLD-PRICE **** Gold prices drop by Rs 650 to Rs 71,650 per 10g on weak demand, import duty cut New Delhi: Gold prices dropped by Rs 650 to Rs 71,650 per 10 grams in the local market here on Wednesday, continuing the retreat for the second day in a row due to weak demand from jewellers and import duty cut announced in the budget for 2024-25. **** PTI SGC SHW
