The income tax department views the sale of proceeds of such shares as “unexplained cash credit” or “unexplained money” subjecting it to a flat tax rate of 60%.
HEG shares opened nearly 64% lower on Monday as the stock adjusted for the company’s demerger, which split its businesses into two separately listed entities.
IFCI shares rallied 6% after Sebi approved NSE’s much-awaited IPO, clearing a key hurdle for the exchange’s listing. IFCI has indirect exposure to NSE through
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