Big changes in Indian train ticket booking from today Explained
Presentation: Sharmada Venkatasubramanian
Production: Shikha Kumari A
Video: Thamodharan B
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Small-cap defence stock bags ₹45 crore order from Navratna PSU Bharat Electronics. Check details
Multibagger small-cap stock Paras Defence and Space Technologies hogged the limelight in trade on Thursday, August 21, following the announcement of an order win from Navratna public sector undertaking (PSU) Bharat Electronics (BEL). Paras Defence shares traded in a narrow range today, with its day's high of ₹ 692.95 and low of ₹ 672.35. The small-cap defence stock finally settled the day down just 0.04% at ₹ 680.55 on the BSE. The defence stock, in an exchange filing today, informed that it has received an order from BEL worth approximately ₹ 45.32 crore (including tax). The order pertains to the supply of signal and data processing systems and multi-sensor fusion systems. The above deliverables will be a part of Air Defence Applications. The order received by Paras Defence from Navratna PSU BEL has to be completed within 29 months or earlier. As of the financial year 2024-25 (FY25), Paras Defence's order book stood at ₹ 928 crore. Meanwhile, earlier this month, the company announced a teaming agreement with Germany-based High Performance Space Structure Systems GmbH (HPS GmbH). Under this agreement, Paras and HPS GmbH will collaborate exclusively in the Indian region to co-develop and supply advanced Unfurlable/Deployable Antenna Reflector Subsystems for space applications, the company said in a press release. Meanwhile, Paras Defence share price has risen 35% year-to-date (YTD) amid a strong traction for defence stocks following the India-Pakistan conflict. Additionally, it has risen 10.50% in the last one year. It has emerged as a multibagger stock on a longer time frame, delivering 101.75% and 112% returns over two years and three years, respectively. Paras Defence and Space Technologies is a premier Indian defence engineering company, delivering a comprehensive suite of indigenously designed, developed, and manufactured (IDDM) products and solutions for the defence and space sectors. The company's operations span two core verticals: Optics & Optronic Systems and Defence Engineering. Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Mint
2 minutes ago
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Did your parents transfer a large sum to your account? Check your tax liability for FY 2024-25
For several individuals in the nation, receiving financial assistance and gifts from parents is a common form of support. In such cases, if your parents transferred a large amount, say ₹ 10 lakh, to your bank account digitally, the logical question that arises is: What is your tax liability on this amount as you go ahead with filing your taxes in FY 2024-25? To put it simply, under the Income Tax Act, 1961, Section 56(2)(x) covers such cases; it states that such gifts from specified relatives are completely exempt from tax, irrespective of the amount involved. CA (Dr.) Suresh Surana, a Mumbai-based Chartered Accountant, says, 'Section 56(2)(x) provides that if an individual receives any sum of money without consideration exceeding ₹ 50,000, it is taxable as income. However, gifts from relatives, including parents, are exempt from tax, irrespective of the amount or mode of receipt. Therefore, a digital transfer of ₹ 10 lakh by your father is not taxable. Yet, any income earned from this gifted sum, like interest on a fixed deposit created using it, remains taxable.' Furthermore, it is important to note that the last date of filing has now also been extended to September 15, 2025. Therefore, as you go ahead with filing your income tax for FY 2024-25, you should keep these important points in mind. The legal provision, hence, classifies gifts from direct relatives such as parents, siblings, spouse, and other lineal descendants as non-taxable. This is regardless of the amount or mode of transfer. This relief, therefore, covers digital banking transactions as well as physical cash gifts or cheques. Though, as per the legal provisions, there is no mandatory requirement to create a gift deed for such transfers, i.e., a digital transfer of funds between a father and son. Still, maintaining a proper financial track record is always the safest option. Taxpayers, hence, are advised to: Get a simple gift deed drafted. The draft should contain the amount, the relationship, the date of transfer, irrevocable nature of the gift. Keep bank statements, and transfer evidence clearly showing the transfer. Retain the gift deed for personal record keeping. It will come in handy in case of tax inquiries and filing returns for FY 2024-25. Given that the original gift is exempt from any income tax. Still, if income is generated from the gifted amount, such as interest, dividends, or capital gains, all such gains must be reported. These gains are taxable as per normal income tax rules. For example: 'A' gifts his son 'B' a large amount, which could be as big as ₹ 25 lakh or beyond, through a digital transfer in FY 2024-25. This amount is not taxable. But if B fixes this amount and earns interest, or invests this amount and earns dividends or capital gains through stocks. Then such gains are going to be taxed as per the provisions of the Income Tax Act. It is prudent to disclose exempt gifts from parents under 'Exempt Income' (Schedule EI) in your income tax return for FY 2024-25 to ensure transparency and avoid any future scrutiny. No tax is payable on a gift from your parents. A gift deed is advisable, but not mandatory. Income earned from the gifted money is taxable. Exempt gifts should still be declared on your tax return for clarity. Following these guidelines will help ensure smooth handling of such large gifts and compliance with tax laws in the country. For all personal finance updates, visit here. Disclaimer: This article provides general information on tax laws and is not a substitute for professional tax advice. Taxpayers should consult a qualified tax advisor or the Income Tax Department for guidance specific to their situations.
Mint
2 minutes ago
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India overtakes China in smartphone exports to the US; trade rises to 44% in April-June quarter — Details here
India has overtaken China in the smartphone exports race to send its products to the United States. The total mobile imports from India to the Western nation rose to 44% in the April-June quarter of the 2025-26 fiscal year due to the nation's schemes like Make in India and PLI. In a post on platform X, the Indian government cited a report from the Singapore-based research agency Canalys, which stated that in the second quarter of the calendar year 2025, India had overtaken China as a result of schemes like Make in India and PLI. 'According to a report by research firm Canalys, in the second quarter of this calendar year, i.e., April-June, India has also overtaken China in terms of smartphones exported to the US,' the government informed the people through a PIB post on X. India is currently moving at a 'new pace' in those sectors in which it was never before considered a key manufacturer. 'As a result of schemes like Make in India and PLI, India is now moving at a new pace in those industrial sectors in which it was never even considered a key manufacturer before,' they said. With the help of these schemes, India's share of the smartphone exports to the United States has increased to 44% levels in the second quarter of 2025, compared to only 13% in the same period the previous year, according to the official data. The government also said that China's share in the smartphone exports to the US market has dropped to 25% in the April-June quarter, compared to their previous level of 61% in the same period a year ago. 'Now, the share of Made in India smartphones imported to the US has increased to 44 per cent, whereas in the second quarter of 2024, it was only 13 per cent. At the same time, in comparison, the share of Made in China smartphones in the US market has come down from 61 per cent a year ago to 25 per cent during this period,' according to the PIB post on Thursday, 21 August 2025. According to a news agency PTI report, India's electronics and mobile exports sector witnessed a mega jump, rising from ₹ 38,000 crore to ₹ 3.27 lakh crore in the same period. On the mobile exports front, the trade witnessed a 127-fold rise to ₹ 2 lakh crore, compared to their earlier 1,500 crore in the same period, as per the news report. Read more stories by Anubhav Mukherjee
