Report Wire

Category: Sports

  • No Income Tax! Find Out Why Residents Of THIS State Enjoy Complete Tax Exemption | Personal Finance News

    Residents of Sikkim have a unique advantage that sets them apart from the rest of India. Unlike other states, Sikkim is exempt from income tax under Section 10 (26AAA) of the Indian Income Tax Act.

    Why Doesn’t Sikkim Have to Pay Income Tax?

    When Sikkim merged with India, the government assured the state that it could keep its existing tax system. Before joining India, Sikkim had its own tax rules and residents didn’t have to pay Indian income tax. To honor this, the Government of India granted Sikkim special exemptions from Income Tax.

    What is the Income Tax Exemption for Residents of Sikkim?

    The Sikkim Income Tax exemption is explained in Section 10(26AAA) of the Income Tax Act. It states that any income earned in Sikkim or by Sikkim residents from sources like dividends or interest on securities is exempt from income tax. This exemption applies to people who lived in Sikkim before it became part of India.

    History of the Sikkim Income Tax Exemption

    The Union Budget replaced the Sikkim Tax Act in 2008 and instead granted income tax exemptions to Sikkim’s residents through Section 10 (26AAA) of the Income Tax Act. This change helps maintain Sikkim’s unique status under Article 371(f).

    In 2013, the Association of Old Settlers of Sikkim (AOSS) filed a petition because “old Indian settlers” who had moved to Sikkim before it joined India in 1975 were not included in the tax exemptions. The Supreme Court then ordered an update to Section 10(26AAA) to include all Indian citizens living in Sikkim until April 26, 1975 which granted them tax exemptions as well.

  • Not a single player from Chhattisgarh in Paris Olympics: Sports experts said – Players are not being selected due to lack of infrastructure and lack of infrastructure, Sports Minister Tankaram said – We are working afresh

    Nitin Namdev, Raipur. Paris Olympics 2024 has begun. This is India’s 26th appearance in this Olympics, in which 139 players from all over the country are showcasing their talent. At the same time, there is disappointment among the players as not a single player has been selected from Chhattisgarh. Players have been working hard for the last several years but are not getting selected. Sports experts say that due to lack of infrastructure in Chhattisgarh, the players of this place are not getting selected.

    It has been 24 years since Chhattisgarh became a state, but the irony is that the players of our state are bringing only a few medals at the national level. In such a situation, the dream of going to the Olympics seems far away. It is not that the players of our state lack ability. Due to lack of proper resources and politics in sports, the dream of the players of the state to win a medal in the Olympics has remained only a dream.

    International weightlifter Ajay Deep Sarang, who has a dream of winning a medal in the Olympics, said that he had worked very hard. My father also worked very hard for me. Somewhere there was a lack of awareness at that time. In the 2012 Olympics, elder brother Rustam Sarang was performing better in the qualification round, at that time we did not know the qualification system, so we were walking in negativity from the beginning. When we understood the qualification round, then we came to know that we also had a chance. If we had created a little more opportunity, we would definitely have been in the Olympics today.

    The non-selection of players in Olympics is the result of Congress government: Tankaram

    Not a single single player from Chhattisgarh has got the opportunity to go to the Olympics. In this matter, Chhattisgarh’s Sports Minister Tank Ram Verma cornered the previous government and said that not a single player from Chhattisgarh went to the Olympics. The reason for this is that the previous government did nothing, due to which none of our players could reach there. Right now we are working hard again. In the coming time, our player will definitely go to the Olympics.

    Know how many players from which state will participate in Olympics

    A total of 139 players have been selected for the Olympics across the country. 24 players from Haryana, 19 from Punjab, 13 from Tamil Nadu, 7 from Karnataka, 7 from Uttar Pradesh, 6 from Kerala, 5 from Maharashtra, 4 from Uttarakhand, 4 from Delhi, 4 from Andhra Pradesh, 4 from Telangana, 3 from West Bengal, 2 from Chandigarh, 2 from Gujarat, 2 from Odisha, 2 from Rajasthan, 2 from Manipur, 2 from Madhya Pradesh, 1 from Assam, 1 from Bihar, 1 from Goa, 1 from Jharkhand and 1 from Sikkim have been selected for the Olympics.

    Lack of infrastructure in Chhattisgarh: Sports expert

    According to sports experts of Chhattisgarh, there is a lack of infrastructure in Chhattisgarh. Due to this, the players of Chhattisgarh are not able to get good training. Senior sports expert Jaswant Kumar Claudius said that there are 28 sports in the Olympics. Chhattisgarh lacks sports trainers, infrastructure, and infrastructure. This is the reason why the players of Chhattisgarh could not come out. Players are given opportunities in sports only after performing well at the international level. It is unfortunate that no such player has emerged from Chhattisgarh. The only player from Chhattisgarh was Renuka Yadav, a female hockey player, who participated in the Olympics in 2016.

    Hundreds of crores of rupees budget released for sports this financial year

    There is a provision of 90 crores for the sports department in Chhattisgarh for the financial year 2024-25 and 24 crores in the supplementary budget. A budget of 114 crores has been kept in this financial year. There is also a provision of funds from the Center under infrastructure. Many industries have adopted sports associations. Despite this, players are not able to move ahead from national competitions.

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  • EaseMyTrip To Hire 500 Employees Under One Crore Internship Scheme Announced In Budget 2024 | Companies News

    New Delhi: EaseMyTrip, an Indian online travel company headquartered in New Delhi, will hire 500 interns under a Central Government scheme announced in the Union Budget.

    Nishant Pitti, CEO & Co-Founder of EaseMyTrip, made this announcement on the social media platform ‘X’ after attending Prime Minister Narendra Modi’s inaugural session of ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25’ Conference organized by the Confederation of Indian Industry (CII) in New Delhi today.

    Pitti on We commend Hon. PM @narendramodi for his unwavering commitment to building a #ViksitBharat.

    EaseMyTrip is the first company to announce the hiring of 500 interns after the Finance Minister announced the internship scheme in the Union Budget. EaseMyTrip was founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti.

    The company provides hotel bookings, air tickets, domestic and international holiday packages, bus bookings, and white-label services. EaseMyTrip has overseas offices in Singapore, UAE, and Thailand, with country-specific websites for UAE, UK, and Thailand.

    Finance Minister Nirmala Sitharaman announced in the Budget speech that the Center will launch a scheme for internship opportunities for the youth in the top 500 companies of India as part of the Union Budget 2024-25.

    She said this scheme will be implemented over the next five years and is expected to benefit 100 million youth. Interns will receive a monthly stipend of Rs 5,000 and a one-time assistance of Rs 6,000. The companies will bear the cost of training the interns via corporate social responsibility.

    Pitti said, “We are elated as we plan to add 500+ talented individuals to our team. This move supports the government’s futuristic vision for the country and perfectly aligns with our growth strategy. The expansion underscores our dedication to nurturing the next generation of industry. leaders. As we invest in human capital, we intend to set new benchmarks for excellence in the travel sector in India.”

    He further added, “The Hon’ble Prime Minister’s commitment to building a Viksit Bharat is commendable, and we truly support his vision. Our plans to expand our team signify a notable step towards empowering the youth, driving innovation, and contributing to the nation’s progress.”

    EaseMyTrip’s plan to undertake large-scale hiring will positively impact the Indian travel industry’s landscape. By bringing in fresh talent, the brand is helping generate employment in the market while paving the way for growth and innovation across the ecosystem.

  • Paris Olympics 2024: India Hockey Team Continue Dominant Run With Win Over Ireland | Other

    The Indian men’s hockey team continued their fine run at the Paris Olympics with a 2-0 win over Ireland in their men’s Pool B match on Tuesday. For India, their skipper Harmanpreet Singh was on the scoresheet, getting a goal in the 11th minute via a penalty shot and getting another in the 19th minute via a penalty corner.

    “FT: A good win today against Ireland. 2 smashing goals from Harmanpreet Singh one via a Stroke and one from Penalty Corner. A nearly perfect game from Team India with no goals conceded in the game. Strong performance from the defense and the wall Sreejesh This win maintains our momentum, up next Belgium. #IndiaAtParis #Cheer4Bharat #IndvsIre #winitforsreejesh,” tweeted Hockey India.

    In the previous match, Harmanpreet came up with a late goal to help his team hold Argentina 1-1 in their pool B match of the ongoing Paris Olympics 2024 at the Yves-du-Manoir Stadium on Monday. It was Lucas Martinez (22′) who had put Argentina in the lead early on. Harmanpreet delivered a clutch goal with very few moments to go for the end of the final quarter. (Touchdown Paris: Neeraj Chopra Reaches France For Olympics 2024, Pics Go Viral)

    India kicked off their campaign with a 3-2 win against New Zealand. In Pool B, India now sits at the top with two wins and a draw, for a total of seven points. In second place are India’s next opponents, Belgium, having won both of their games. India will take on Belgium on August 1. A top-four finish will ensure that India advances to the knockout stages.

  • New Wastage Norms For Gold, Silver Jewelery Exports On Hold Till Aug 31 | Economy News

    New Delhi: The new norms for permissible wastage amount for gold, silver and platinum content in jewelery exports will now be in obedience till August 31, 2024, according to DGFT.

    The decision was taken on the request of the Gems and Jewelery Export Promotion Council (GJEPC), DGFT said in a public notice. In May, the norms were put on hold till July this year. After GJEPC’s request, the hold period was extended by one more month till August.

    This was done after the industry raised concerns over the government’s revised norms related to the permissible amount of wastage and standard input output about the export of gold and silver jewellery.

    The public notice dated May 27 is kept in “abeyance till August 31, 2024 for the reassessment of permissible wastages and SIONs as per request of GJEPC,” Directorate General of Foreign Trade (DGFT) said.

    For the interim period, wastage norms as existed prior to the issuance of the May 27 notice stand were restored. On May 27, DGFT issued a public notice tightening these norms, following which the exporting community flagged its concerns.

    Standard input-output norms (SION) are rules that define the amount of inputs required to manufacture a unit of output for export purposes. Input-output norms are applicable for products such as electronics, engineering, chemical, food products, including fish and marine products, handicraft, plastic and leather products.

  • Paris Olympic 2024: India and Argentina draw the match 1-1, captain Harmanpreet Singh again saved the team’s honor by scoring a goal in the 58th minute

    Paris Olympic 2024: Apart from New Zealand and Argentina, the Indian team’s group includes Australia, Belgium and Ireland. India is third in the points table after 2 matches. Four teams from the group will go to the quarter-finals.

    IND vs ARG Hockey Match: The Pool B hockey match between India and Argentina at the Paris Olympics ended in a 1-1 draw. At one point in this match, it seemed that Argentina would win the match, but the Indian team changed the course of the match at the very last moment.

    Actually, Team India was trailing 1-0 for about 58 minutes. But after this, the Indian players showed amazing spirit in the last minutes. Team India captain Harmanpreet Singh saved the team from defeat by scoring a goal with 2 minutes left. Even before this, he had given victory to the team by scoring a goal with 2 minutes left in the last match against New Zealand.

    Argentina player Lucas Martinez scored in the 22nd minute.

    Argentine player Lucas Martinez scored a goal in the 22nd minute of this match and gave his team a 1-0 lead. After this, the Indian players kept struggling to score a goal, but did not succeed. The Indian team also got a penalty corner, but failed to score a goal, however, after this, captain Harmanpreet Singh scored a goal on the penalty corner India got in the last minute and gave the team a draw. In fact, if Harmanpreet Singh had failed to score a goal, then Team India would have probably faced defeat. But this goal averted India’s defeat.

    India will face Ireland on Tuesday

    Earlier, the Indian team had defeated New Zealand. Now, the India-Argentina match ended in a draw. So far, India is undefeated in the tournament. India and Ireland will face each other on Tuesday. Anyway, it will be interesting to see how the Indian team performs against Ireland?

  • UltraTech Cement Acquires Majority Stake In India Cements At High Premium | Companies News

    Mumbai: UltraTech Cement on Sunday announced it will acquire a majority stake in India Cements, the country’s largest cement maker, at a steep premium of $120.76 per tonne.

    The Board of Directors of UltraTech approved the purchase of a 32.72 per cent equity stake of the promoters and their associates in India Cements Ltd, subject to regulatory approvals.

    UltraTech will pay Rs 3,954 crore at Rs 390 share for buying a 32.72 per cent stake in India Cements. Kumar Mangalam Birla, Chairman, Aditya Birla Group, said that UltraTech Cement’s investments over the years, both organic and inorganic, have been designed to propel India to become a building solutions champion globally.

    “Every investment in a core sector like cement accelerates economic activity and drives progress. These investments have also facilitated India’s nationwide infrastructure upgrade, powering our country’s growing need for housing, roads, and other vital infrastructure,” Birla said in a statement.

    UltraTech made a financial investment in India Cements to acquire 22.77 per cent equity at a price of Rs 268 per share in June this year. After the financial investment, the promoter group approached UltraTech as they wanted to sell their holding in the company, and “we found it appropriate to acquire their stake in the company”.

    India Cements has a total capacity of 14.45 million tonnes per annum (MTPA) of gray cement. Of this, 12.95 MTPA is in the south (particularly Tamil Nadu) and 1.5 MTPA is in Rajasthan.

    “The India Cements opportunity is an exciting one as it enables UltraTech to serve the Southern markets more effectively and also accelerates our path to 200+ MTPA capacity,” said Birla.

  • Asia Cup 2024: ‘Won The Final But For Other Team,’ Harmanpreet Kaur Faces Social Media Backlash After Poor Show In India vs Sri Lanka Women’s Match | cricket news

    Captain Chamari Athapaththu’s turbo-charged fifty combined well with the steady half-century of Harshitha Samarawickrama as a resilient Sri Lanka carved an eight-wicket win over defending champions India to bag their maiden women’s Asia Cup title here on Sunday. This is the second time in nine Asia Cup editions (WODI and WT20I) across formats that India has lost a final.

    The last time India lost the final was against Bangladesh in 2018 in Kuala Lumpur. Tasked with hunting down a strong target of 166, Sri Lanka served well by Athapaththu (61b, 43b, 9×4, 2×6) and Samarawickrama (69 not out, 51b, 6×4, 2×6) and finished at 167 for two in 18.4 overs. Athapaththu and Samarawickrama added 87 runs as the Lankans always stayed ahead of their opponents.

    The stand for the second wicket was also of contrast as Samarawickra was the yin to the yang of her aggressive leader. Athapaththu fetched her fifty in 33 balls, and Samarawickrama went past her mark in 43 balls and their shot selection too was vastly differing.

    After a while when everything came down to the fielding and bowling of India, they had a chance where Harshitha Samarawickrama tried to play a shot over mid-on for a four against Deepti Sharma but gave away an easy. However, captain Harmanpreet Kaur standing at that fielding position dropped a sitter and it very much likely cost India any chance of getting in the final when runs were coming easy for Sri Lanka.

    Fans on social media were not impressed with Harmanpreet Kaur’s captaincy or performance as a player in the Asia Cup 2024 final as she could only score 11 with the bat and had a day to forget in the field.

    Check out the reactions here…

    Captain Harman in the finals

    Got out early. Dropped a sitter of Harshita who eventually won the match for her team. pic.twitter.com/1oawTuI01k TukTuk Academy (@TukTuk_Academy) July 28, 2024

    EGO Queen Harman Well Deserved #WomensAsiaCup2024 pic.twitter.com/yifsZHiL5G Rahul (@msdfanboy007) July 28, 2024

    Captain Harman dropped a sitter that could have been the trophy. pic.twitter.com/5IXn49UpAy TukTuk Academy (@TukTuk_Academy) July 28, 2024

    Full tosses, misfields, dropped catches, slot balls, and an under-pressure angry Harman. Our script in crunch games never changes. Manya (@CSKian716) July 28, 2024

    Athapaththu scored through almost every reachable place on the field, and her assault on left-arm spinner Tanuja Kanwar, who she biffed for two fours and six in her first over, was stunning. But at the other end, Samarawickrama lacked the power of her senior but she offset that with clever placings, such as reverse sweeps off left-arm spinners Deepti Sharma and Radha Yadav. But she picked up the tempo when Sri Lanka reached a rather safer zone, muscling a slog-swept six off Yadav over mid-wicket.

    In between, Deepti managed to bowl Athapaththu around her legs with a fuller delivery that sparked celebrations among the Indians, who till then looked lethargic on the field. But those merriments were premature as Samarawickrama found an able sidekick in Kavisha Dilhari (30 not out, 16b, 1×4, 2×6) as the duo added 73 runs off just 40 balls for the unbeaten third wicket to guide their side home. But an equal share of the credit should go to the Lankan bowlers as well for stifling a set of free-flowing India batters.

    Smriti Mandhana’s conditions-defying half-century (60, 47b, 10×4) had powered India to a fighting 165 for six and she received reasonable backing from Jemimah Rodrigues (29, 16 balls, 3×4, 1×6) and Richa Ghosh (30, 14 balls) , 4×4, 1×6). But largely it was a tight contest for them against a plethora of Lankan spinners.

    The home side included only one pacer in their ranks – Udeshika Prabodhani and the rest were slow bowlers. The Sri Lanka bowlers indeed made good use of a slow pitch as well, leaving the Indian batters a frustrated lot often.

    It was evident from the struggles of Shafali Verma (16, 19 balls), who found it difficult to time her shots. Mandhana had a massive slice of fortune when she was on 10 as her weak chip-off spinner Dilhari (2/36) was put down at covers by Samarawickrama. The left-hander made the hosts pay for that mistake with some gorgeous shots, especially against Prabodhani whom she carted for three fours in the sixth over as India reached 44 for no loss. But Verma soon fell leg before to Dilhari after getting pinged on her pads while trying a tweak to the on-side. (Riyan Parag Credits Gautam Gambhir For Surprising Three-Wicket Haul In First T20I Against Sri Lanka)

    As the Power Play came to an end, Mandhana had to resort to some improvisations such as scoops behind the stumper to get her boundaries. The Indian vice-captain, who brought up her fifty in 36 balls, also often had to make room for herself or shuffle across the stumps to find the ropes because the ball was not exactly coming onto her bat.

    While Mandhana managed to beat the slowness of the deck, it consumed Harmanpreet and Uma Chetry, who got a promotion to No. 3. At 87 for three in the 12th over, India needed a move-on and it was given by an aggressive Rodrigues in the company of Mandhana, making 41 runs off 25 balls for the fourth wicket.

    However, the run out of Rodrigues and the dismissal of Mandhana pushed India to 133 for five in 16.5 overs. Ghosh played a typical swift innings that contained a massive slog-swept six off Dilhari over the mid-wicket.In the company of Pooja Vastrakar, Ghosh milked 31 runs for the sixth wicket that carried India past the 160-run mark. (With PTI Inputs)

  • PNB Records Its Highest Ever Quarterly Profit Of Rs 3,252 Cr | Market News

    New Delhi: Punjab National Bank (PNB) on Saturday reported its highest-ever quarterly standalone profit at Rs 3,252 crore in April-June FY25 helped by a decline in bad loans and an improvement in interest income.

    The state-owned bank posted a net profit of Rs 1,255 crore in the June quarter of FY24. This is the highest ever quarterly profit recorded by the bank on account of improvement in various parameters, including net interest income, recovery and CASA, Managing Director Atul Kumar Goel said.

    Total income in the quarter rose to Rs 32,166 crore from Rs 28,579 crore in the same period a year ago. The lender’s interest income also increased to Rs 28,556 crore from Rs 25,145 crore in the same quarter a year ago, as per a regulatory filing.

    Net Interest Income (NII) increased to Rs 10,476 crore in Q1 FY25 from Rs 9,504 crore earlier, showing an improvement of 10.23 per cent. Gross Non-Performing Assets (NPAs) declined to 4.98 per cent of gross advances by June 2024 from 7.73 per cent in the same quarter a year ago.

    Similarly, net NPAs declined to 0.60 per cent from 1.98 per cent. As a result, provisions for bad loans came down drastically to Rs 792 crore in April-June FY25 as against Rs 4,374 crore in the year-ago period.

    Provision Coverage Ratio improved to 95.9 per cent as of June 2024 from 89.83 per cent a year ago.

    On a consolidated basis, the bank reported a net profit of Rs 3,976 crore in the quarter under review as against Rs 1,342 crore a year ago. The consolidated financial result of the bank comprises five subsidiaries and 15 associates.

    The capital adequacy ratio of the bank improved to 15.79 per cent at the end of June 2024 compared to 15.54 per cent in the year-ago period. With improvement in capital position, Goel said, the bank has decided to cut the proposed share sale size through Qualified Institutional Placement (QIP) to Rs 5,000 crore from an earlier estimate of Rs 7,500 crore.

    Asked when the capital will be raised, he said the bank is evaluating the opportune time for that. Besides, he said, the board has given approval to raise Rs 7,000 crore from Tier I bonds and Rs 3,000 crore from Tier II bonds to fund business growth.

    As far as recovery is concerned, he said, the bank is targeting Rs 18,000 crore collection from this including from NCLT realisation. “We are hoping recovery of Rs 3,000 crore from NCLT cases,” he said.

    During the quarter, he said, slippages were Rs 1,755 crore against a recovery of Rs 3,249 crore.

    Going forward, the bank is aiming net NPA of less than 0.5 per cent, a gross NPA of less than 4 per cent and a Return on Asset of 1 per cent by March. As far as business growth is concerned, he said, credit growth is estimated at 11-12 per cent while deposit 9-10 per cent and Net Interest Margin at 2.9-3 per cent.

    Low-cost fund Current Account and Savings Account (CASA) deposits would increase to 42 per cent from the current level of 40.08 per cent of total deposits, he added. On improving its digital competitiveness, he said, PNB has earmarked Rs 2,500 crore to be spent on IT.

  • Indian hockey team made a winning start in Paris Olympic 2024, defeating New Zealand 3-2 in a thrilling match

    Paris Olympic: The Indian hockey team performed brilliantly in the Paris Olympics and defeated New Zealand. Team India won its first match. The players of the Indian hockey team defeated New Zealand 3-2 in a thrilling match. Mandeep Singh, Vivek Sagar and Harmanpreet Singh scored goals for India. Harmanpreet scored the winning goal for Team India. The Indian men’s hockey team started with a great victory in the Paris Olympics 2024.

    New Zealand took a 0-1 lead in the first quarter. After this, India made a comeback in the second quarter and equalized the score at 1-1. Team India took a 2-1 lead in the third quarter. But New Zealand made a comeback in the fourth quarter and the match was tied at 2-2. In the end, captain Harmanpreet Singh ensured the team’s victory by scoring a goal in the penalty shootout in the last 2 minutes.

    Both the teams played aggressively in the match but in the end the Indian hockey team managed to win the match 3-2. With this win, India now has 3 points in its account and their next group match will be against Argentina on 29th July.