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  • Buyers splurge as Diwali buying makes grand return after Covid-induced lull

    By PTI

    NEW DELHI: It is the season of lights, events and items.

    And this Diwali, after a two-year pandemic-induced lull, persons are thronging the markets to seize the right present for his or her family members and hold the ritual of exchanging goodies alive.

    This season, customers are as soon as once more contending with the issue of loads, be it in offers or choices, which has bewildered even probably the most seasoned purchaser.

    This was why Vandana Thapa, a homemaker in her 40s, performed it protected and acquired a mixed-bag of types, together with electronics, house equipment to ‘tried and tasted’ mithai, to satiate her annual competition buying cravings.

    Her laundry checklist of things features a bar cabinet for her brother, cellphone for her father, house decor gadgets for colleagues and candy bins for her home assist.

    According to trade specialists, regardless that gourmand hampers, house furnishings and equipment, resembling stylish candle stands or crockery, and sweets are in enormous demand, digital units, together with cell phones and sensible wearables, stay those to beat.

    Gaurav Khatri, co-founder of know-how model Noise, instructed PTI, “During the festival season, the demand for electronics and smart gadgets is at an all-time high and it’s no different for the smart wearables segment. We speculate the industry to grow 2.2 times this festival season while we at Noise are expecting a growth of 150 per cent.”

    Expecting a “truly grand” Diwali, Manish Aggarwal, director of main packaged meals model Bikano, has set a mammoth goal of “Rs 400 crores” in gross sales throughout India.

    ALSO READ: Six Chamarajanagar villages to have fun Diwali after 9 years

    Sid Mathur, founding father of premium mithai model Khoya, echoed Aggarwal’s sentiments and claimed that sweetmeat gross sales at his Chanakyapuri retailer right here had gone “beyond their own projections”.

    The competition season has set the money registers ringing even louder for manufacturers promoting furnishings, homeware and delicate furnishing.

    “We have seen a buoyant 50 per cent increase in sales over last year. Keeping up with the capital’s trend, our other fast selling products have been our bespoke candles, the poker box and Eden collection, which are all doing very well,” stated Vikash Gupta, founder and CEO of Three Sixty, a life-style model and design studio.

    Like earlier years, the net sector continues to garner sturdy demand, evident from cashback platform Cashkaro registering a “8X growth” in site visitors and “5X growth” in gross sales in comparison with final yr.

    Online buying apart, heavy footfall at malls has acquired the enterprise and commerce foyer excited.

    “The last survey by the Retailers” Association of India has mirrored a 15% improve in gross sales from pre-pandemic ranges,” stated Yogeshwar Sharma, Select CITYWALK CEO and government director.

    Footfalls have steadily elevated throughout buying centres previously quarter, he added.

    “They now match pre-pandemic levels and have increased in the past few months due to the kick-off of the festival season. We see an almost 7-8 per cent growth with regard to sales and similar footfall.”

    “Also as a trend, we have witnessed that last year retailers were hesitant to stock up but supply chain issues have been minimised and retail stores are stocked up,” Sharma added.

    Wellness merchandise have continued to seek out takers amid rising concentrate on immunity following the outbreak of covid-19.

    Immunity-based gifting choices resembling dry fruit bins, turmeric tea and spice kits have been well-liked present choices this yr as effectively.

    Vahdam India, a world wellness model providing an enormous vary of wellness-based present collections, together with recent teas and superfoods, has claimed to realize “50-60 per cent” of their two months’ India income via Diwali gross sales alone.

    Gifting an expertise has additionally turn out to be a sought-after choice this Diwali.

    Instead of dropping off a package deal at family members’ properties, many are opting to present them a break from the day by day hustle by reserving an unique staycation at five-star accommodations and resorts.

    While Radisson Gurugram, Udyog Vihar, for example, is providing a one-night keep on double occupancy and breakfast at a reduced value of Rs 7,555, Fazlani Natures Nest in Maharashtra has curated an unique ‘Diwali Rejuvenation Package’ that features a minimal three-night lodging, meals and numerous wellness therapies.

    The value of the package deal begins from Rs 14,000 per night time.

    For those that wish to make the ‘competition of lights’ somewhat brighter for the needy, choices embrace buying present bins from manufacturers resembling ‘Humanitive’.

    These memento bins, moreover house decor merchandise, equipment and eatables for family members, are outfitted with a donation package with particulars of the customer’s contribution and the place it’s ultimately used, resembling sponsoring a folding cane for the visually impaired to well being dietary supplements for a destitute aged for 15 days.

    The hampers value between Rs 3,900 and Rs 6,500.

    NEW DELHI: It is the season of lights, events and items.

    And this Diwali, after a two-year pandemic-induced lull, persons are thronging the markets to seize the right present for his or her family members and hold the ritual of exchanging goodies alive.

    This season, customers are as soon as once more contending with the issue of loads, be it in offers or choices, which has bewildered even probably the most seasoned purchaser.

    This was why Vandana Thapa, a homemaker in her 40s, performed it protected and acquired a mixed-bag of types, together with electronics, house equipment to ‘tried and tasted’ mithai, to satiate her annual competition buying cravings.

    Her laundry checklist of things features a bar cabinet for her brother, cellphone for her father, house decor gadgets for colleagues and candy bins for her home assist.

    According to trade specialists, regardless that gourmand hampers, house furnishings and equipment, resembling stylish candle stands or crockery, and sweets are in enormous demand, digital units, together with cell phones and sensible wearables, stay those to beat.

    Gaurav Khatri, co-founder of know-how model Noise, instructed PTI, “During the festival season, the demand for electronics and smart gadgets is at an all-time high and it’s no different for the smart wearables segment. We speculate the industry to grow 2.2 times this festival season while we at Noise are expecting a growth of 150 per cent.”

    Expecting a “truly grand” Diwali, Manish Aggarwal, director of main packaged meals model Bikano, has set a mammoth goal of “Rs 400 crores” in gross sales throughout India.

    ALSO READ: Six Chamarajanagar villages to have fun Diwali after 9 years

    Sid Mathur, founding father of premium mithai model Khoya, echoed Aggarwal’s sentiments and claimed that sweetmeat gross sales at his Chanakyapuri retailer right here had gone “beyond their own projections”.

    The competition season has set the money registers ringing even louder for manufacturers promoting furnishings, homeware and delicate furnishing.

    “We have seen a buoyant 50 per cent increase in sales over last year. Keeping up with the capital’s trend, our other fast selling products have been our bespoke candles, the poker box and Eden collection, which are all doing very well,” stated Vikash Gupta, founder and CEO of Three Sixty, a life-style model and design studio.

    Like earlier years, the net sector continues to garner sturdy demand, evident from cashback platform Cashkaro registering a “8X growth” in site visitors and “5X growth” in gross sales in comparison with final yr.

    Online buying apart, heavy footfall at malls has acquired the enterprise and commerce foyer excited.

    “The last survey by the Retailers” Association of India has mirrored a 15% improve in gross sales from pre-pandemic ranges,” stated Yogeshwar Sharma, Select CITYWALK CEO and government director.

    Footfalls have steadily elevated throughout buying centres previously quarter, he added.

    “They now match pre-pandemic levels and have increased in the past few months due to the kick-off of the festival season. We see an almost 7-8 per cent growth with regard to sales and similar footfall.”

    “Also as a trend, we have witnessed that last year retailers were hesitant to stock up but supply chain issues have been minimised and retail stores are stocked up,” Sharma added.

    Wellness merchandise have continued to seek out takers amid rising concentrate on immunity following the outbreak of covid-19.

    Immunity-based gifting choices resembling dry fruit bins, turmeric tea and spice kits have been well-liked present choices this yr as effectively.

    Vahdam India, a world wellness model providing an enormous vary of wellness-based present collections, together with recent teas and superfoods, has claimed to realize “50-60 per cent” of their two months’ India income via Diwali gross sales alone.

    Gifting an expertise has additionally turn out to be a sought-after choice this Diwali.

    Instead of dropping off a package deal at family members’ properties, many are opting to present them a break from the day by day hustle by reserving an unique staycation at five-star accommodations and resorts.

    While Radisson Gurugram, Udyog Vihar, for example, is providing a one-night keep on double occupancy and breakfast at a reduced value of Rs 7,555, Fazlani Natures Nest in Maharashtra has curated an unique ‘Diwali Rejuvenation Package’ that features a minimal three-night lodging, meals and numerous wellness therapies.

    The value of the package deal begins from Rs 14,000 per night time.

    For those that wish to make the ‘competition of lights’ somewhat brighter for the needy, choices embrace buying present bins from manufacturers resembling ‘Humanitive’.

    These memento bins, moreover house decor merchandise, equipment and eatables for family members, are outfitted with a donation package with particulars of the customer’s contribution and the place it’s ultimately used, resembling sponsoring a folding cane for the visually impaired to well being dietary supplements for a destitute aged for 15 days.

    The hampers value between Rs 3,900 and Rs 6,500.

  • How is royalty from e-book gross sales handled for income-tax?

    Can modest revenue/royalty acquired on e-book gross sales from any Indian writer be proven below different revenue within the ITR 1 kind? 

                                            — Kapurash

     

    It is assumed that you’re a resident and extraordinary resident (ROR) of India.

    Income/royalty from e-book gross sales could be categorized as revenue from different sources (IOS) or income and positive aspects from enterprise and career (PGBP). Whether an revenue is to be proven below IOS or PGBP is determined by varied elements (e.g. quantity, income, frequency, and many others.) and info of every case.

    In case you’re primarily engaged within the enterprise/career of authoring books for incomes royalty/commercial revenue, and many others., chances are you’ll take into account reporting it below PGBP, else chances are you’ll take into account reporting the identical below IOS.

    As per the directions issued for ITR Forms for FY 2020-21, Form ITR 1 could also be used for tax return submitting (the place the overall revenue doesn’t exceed ₹50 lakh) reporting revenue from wage, one home property, and curiosity revenue/household pension/ dividend taxable below the top IOS. Further, the shape can’t be used to say any deduction of bills referring to the revenue below the top IOS (besides household pension). Therefore, ITR 1 will not be the suitable kind for disclosing the royalty/commercial revenue below the top “revenue from different sources” and chances are you’ll use ITR 2 for submitting the tax return. ITR 3 is relevant if revenue is disclosed below PGBP.

    To corroborate the disclosures regarding the revenue, if required earlier than the Indian tax authorities, the taxpayer might showcase the settlement entered into with the writer, based mostly on computation/ reconciliation of revenue, settlement/affirmation from the writer on the quantum, and many others., as back-up paperwork.

    Deduction could also be claimed in respect of bills (not like capital expenditure) incurred wholly and completely in incomes the revenue chargeable below IOS. Thus, chances are you’ll deduct the bills wholly and completely incurred in incomes the royalty/commercial revenue, whereas computing the taxable revenue.

    Deduction, below part 80QQB (topic to threshold restrict of ₹3 lakh) could also be thought of if the required situations are fulfilled (together with acquiring a certificates in Form 10CCD from the Indian writer).

    Parizad Sirwalla is companion and head, world mobility companies, tax, KPMG in India.

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  • Omicron disrupts gross sales for offline electronics retailers by as much as 70%

    NEW DELHI :

    The sharp enhance in covid-19 circumstances for the reason that begin of the 12 months has begun to impression the gross sales of offline retail electronics shops that had began to see some restoration on the again of festive season gross sales, based on business consultants.

    “Offline retail has been on the again foot for the reason that pandemic. Just after they had began to get better, the concern of one other covid wave has disrupted gross sales. After Omicron, shoppers will not be coming to markets. Sales have dropped by as much as 70% for some shops,” stated Arvinder Khurana, nationwide president, All India Mobile Retailers Association (AIMRA).

    Sales have dropped by 30-35% in giant format retail shops, which have 1000’s of merchandise, Khurana identified. In chain shops, gross sales have dropped by 50%. In areas the place the federal government has began imposing curfew and the place circumstances have elevated, gross sales have dropped by as much as 70%.

    “January was a lean month. Sales have been additional impacted due to Omicron. Walk-ins have dropped by virtually 50%,” stated Manish Khatri, accomplice, Mahesh Telecom.

    Sales of some merchandise have declined, however some shops have seen a rise in demand for laptops. At Vijay Sales, “laptop computer gross sales elevated once more. Overall gross sales have decreased by 10% in comparison with final month,” stated Nilesh Gupta, director of the agency. Mint had earlier reported that pocket book demand in 2022 will likely be pushed by industrial and authorities orders to help the return to work.

    There has been a scarcity of a number of key merchandise during the last two to a few months, together with iPhones, that are solely being equipped to giant retailers, based on Khurana. For manufacturers akin to Mi, merchandise can be found just for every week. Stocks have additionally been hit by a chip scarcity. Sub 15K smartphones are in brief provide and 80% of them at the moment are being equipped to on-line shops. Brands are additionally prioritizing premium smartphones owing to a chip scarcity.

    “Online sellers have additionally superior gross sales. Some of the gross sales that had been anticipated to start out on 26 January are occurring 10 days earlier,” he stated. The hole between offline and on-line retail gross sales has widened after the pandemic.

    Offline channels registered an 18% year-on-year (y-o-y) decline in smartphone cargo in Q3 (July-September) 2021 in contrast with a 5% y-o-y decline in on-line shipments, based on International Data Corporation (IDC). The offline market has shrunk beneath 50% for the primary time in a long time, Khurana stated. Online channels accounted for a document excessive 52% share of smartphone shipments in Q32021.

    “Early stories point out stress in offline channels. Uncertainty round restrictions and weekend lockdowns don’t assist. Offline has been severely challenged since March 2020,” stated Navkendar Singh, analysis director, IDC India.

    Heavy advertising and gross sales festivals led interventions by on-line platforms can’t be matched by offline, Singh famous. Brands attempt to assist however the price of operations offline is just too excessive to broadbase it absolutely.“There had been some indicators of restoration in October-November, which helped since it’s a heavy gross sales interval,” Singh stated.

    The cell retailers’ affiliation has been asking the federal government for aid measures. In 2021, AIMRA had urged the federal government to increase the interest-free moratorium for six months and permit collateral-free loans between ₹25 lakh and ₹1 crore with minimal curiosity for retailers.

    There has been no help from the federal government for offline retailers, Khurana lamented. Retailers are working at a loss, particularly as about 85% of their bills is the mounted value of offline retail, which incorporates salaries and lease.

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  • Sales rise, enter prices harm India Inc revenue margins in Q2

    With demand coming again throughout markets, rural and concrete, the September quarter noticed company gross sales regain momentum. Larger gamers continued to remove market share from unorganised items. However, inflation in inputs weighed on income preserving margins in verify; some companies took value hikes and in the reduction of on non-essential bills to guard their margins. Management commentary is reassuring with most anticipating demand to lookup additional within the months forward. At UltraTech, for example, the administration is assured of sturdy demand restoration of about 6-8 per cent y-o-y in H2FY22, publish the monsoons.
    The quarter mirrored a resurgence in demand throughout companies, albeit on the subdued base of Q2FY21. Revenues at Jubilant Foodworks have been up 39 per cent y-o-y whereas at TVS Motor, they rose 22 per cent y-o-y, led by a 16 per cent enhance within the common gross sales value. Asian Paints reported a stand-alone income progress in decoratives of a wise 36 per cent y-o-y, on the again of a 34 per cent leap in volumes whereas JSW Steel posted a rise in consolidated gross sales of 71 per cent y-o-y, as metal costs stayed elevated.
    Sales, which have been up 35 per cent y-o-y, for a pattern of 202 firms (excluding banks and financials), have been pushed by good realisations and value will increase. It should be talked about, although, that the pattern is skewed by Reliance Industries whose gross sales have been up 50 per cent y-o-y. Not all firms have been in a position to go on the rising enter prices. At Havells, the value hikes didn’t match the sharp rise in costs of uncooked supplies leading to decrease gross margins. At Hindustan Unilever, gross margins contracted 140 bps y-o-y whereas ebitda margins fell 45 bps y-o-y. The ratio of uncooked supplies to gross sales was up 355 foundation factors, within the three months to September.
    — FE

  • Women of Ganga Maa Mahila Self-Help Group of Manora are incomes monetary earnings by promoting maize popcorn

    Under Godhan Nyay Yojana, girls of self-help teams are being linked with livelihood they usually have additionally been given coaching for making pickles, making popcorn from maize, producing edible oil, making murrah, making dona-pattal. The girls of Maa Ganga Self-Help Group of Manora block have been linked with self-employment by connecting with Gauthan and coaching has been given to make maize popcorn from the District Mineral Trust fund. Now girls are incomes financial earnings by promoting popcorn from maize by placing a handcart in Manora block.
    Under the steering of Collector Shri Mahadev Kavre and below the route of District CEO of Manora Development Block, Anil Tiwari, an quantity of 67823 thousand has been made out there to the ladies of Maa Ganga Self-Help Group related to Gothan in Manora Development Block from District Mineral Trust Fund. Women have now began promoting popcorn by becoming a member of livelihood. The girls of the group have thanked the district administration and mentioned that in the present day they’re serving to their households by becoming a member of livelihood.

  • Apple couldn’t dodge chip ache perpetually

    For an organization that generates greater than 80% of its income promoting devices filled with chips, Apple certain has managed to promote a whole lot of them.

    Apple’s fiscal second-quarter outcomes Wednesday afternoon could be outstanding even when not for a world semiconductor manufacturing scarcity that has hindered different industries like autos. Revenue surged 54% 12 months over 12 months to mark the corporate’s greatest development fee in 9 years. iPhone income jumped 66% to $47.9 billion whereas the smaller iPad and Mac companies notched even greater development charges.

    Easy comparisons have been an enormous assist; the unique coronavirus outbreak in China hobbled Apple’s manufacturing and gross sales in that nation starting final January, making Apple the primary amongst its large tech friends to really feel the pandemic’s impression immediately.

    It additionally helps that buyers have reset their expectations a bit. Apple’s share value has slipped 6% since its final report three months in the past. It additionally has been among the many weakest performers amongst large-cap tech corporations this 12 months, gaining lower than 1%, versus a 9% rise by the Nasdaq Composite. The inventory nonetheless trades round 30 occasions ahead earnings—close to the excessive finish of its historic vary. But that a number of has slipped about 14% for the reason that final report. Apple’s share value rose about 2% following Wednesday’s launch.

    Yet even Apple’s famous procurement prowess can’t rating the corporate sufficient chips in such a good market. Apple refuses to undertaking income for the quarter at hand, however Chief Financial Officer Luca Maestri instructed analysts throughout the firm’s convention name that the sequential income decline the corporate usually experiences throughout the June quarter could be better than regular due partly to provide constraints arising from the chip scarcity. Those constraints could have a income impression of between $3 billion to $4 billion throughout the interval. Apple has averaged a ten% income drop between the March and June quarters during the last 5 years.

    That disclosure drives residence the tough realities of the present semiconductor scarcity. Apple has the deepest pockets of any chip purchaser; trailing 12-month free money move has now reached about $84 billion, in line with FactSet. It can also be changing into a notable chip designer in its personal proper, having not too long ago displaced Intel from a lot of its Mac lineup in favor of its in-house processors.

    But Apple nonetheless is dependent upon a big community of chip producers which might be straining to fulfill demand. Chief Executive Officer Tim Cook famous Wednesday that a lot of the scarcity affecting the corporate is coming from “legacy nodes”—older manufacturing lines that produce the types of low-price chips for which car makers and other industries are also scrambling. Auto chip maker NXP warned analysts on Tuesday that the “tight supply environment” will persist by means of the remainder of this 12 months.

    It is a harsh actuality even Apple can’t distort.

    This story has been printed from a wire company feed with out modifications to the textual content.

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  • Prohibition on illegal importation and sale of firecrackers

    Collector and District Magistrate Shri Chandan Kumar has directed all SDMs to stop illegal importation and sale of firecrackers in the district. He has given instructions regarding the use of the guideline issued by Hon’ble Supreme Court in the year 2018 regarding the sale of firecrackers, which is not only in relation to illegal imported firecrackers, but also in relation to the use of firecrackers manufactured in the country. .