Astra Microwave rises on bagging Rs 135-cr order from DRDO
The execution of the order is scheduled to be completed within a period of 18 months.
The company clarified that neither the promoter, promoter group, nor any group companies have any interest in the entity that awarded the contract.
Additionally, the transaction does not fall under the category of related party transactions, eliminating the requirement for evaluation on an arms length basis.
Astra Microwave Products is engaged in design, development, manufacture and supply of high value added RF and microwave super components, sub-systems and systems finding for Defense, Space, Telecom, Meteorology and Civil communication applications.
The companys consolidated net profit jumped 35.1% to Rs 73.49 crore on 15.2% rise in revenue from operations to Rs 407.85 crore in Q4 FY25 over Q4 FY24.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
a minute ago
- Hans India
Online money gaming a major problem for society
New Delhi: The Centre has realised that online real money gaming has been a major problem for society and chose to forego revenue loss in preference to people's welfare, a government source said on Wednesday. The government has tabled 'Promotion and Regulation of Online Gaming Bill 2025' in the Lok Sabha, which proposes to promote eSports and online social gaming while banning money gaming in any form. 'Online gaming involving money has become a major problem for society. Every Parliamentarian has raised concerns about its ill effects. Between revenue from one-third of the industry segment and society welfare, the government has chosen society welfare,' the source said. According to the source, actions against entities involved in money gaming under the bill will be mainly taken by state governments. The bill proposes that any person offering an online money gaming service in violation of the stipulated provisions will face imprisonment of up to three years or a fine that may extend to Rs 1 crore or both. The provisions also stipulate imprisonment of up to two years and or a fine of up to Rs 50 lakh, or both, for those indulging in advertisements in contravention of rules. Several online real money gaming platforms masquerade themselves as a 'game of skills' to differentiate themselves from gambling or betting, the source said. 'Those who play the games are victims. They will not be punished as per the bill, but there will be action on those who provide real money gaming platforms, facilitate transaction services, etc,' the source said.
Time of India
a minute ago
- Time of India
Good news for salaried taxpayers: Limits for these two tax-free perquisites raised substantially in Finance Act, 2025
What is the impact of the changes made to perquisite taxation? Specified employees: Rs 4 lakh Rs 4 lakh Overseas medical treatment: Rs 8 lakh Specified Employee – Income threshold raised from Rs 50,000 to Rs 4 lakh A director-employee; or An employee who has substantial interest (i.e., owns at least 20% voting power in the company); or Any other employee whose income under the head 'Salaries' (excluding non-monetary perquisites) exceeds the prescribed limit. Overseas Medical Treatment: Limit Increased to Rs 8 lakh Clause (vi) of proviso to Section 17(2) This proviso contains the list of certain benefits/ amenities which shall not be treated as perquisites (i.e. exempted perquisites). Clause (vi) of the said proviso states that expenditure incurred by the employer on medical treatment of the employee or any family member of employee will not be treated as perquisite, subject to certain conditions. The said exemption also applied to expenditure on travel and stay abroad relating to such medical treatment. The above exemption to expenditure on travel was subject to the condition that the gross total income of the employee (other than such expenditure) should not exceed Rs 2 lakh. Thus, only employees whose gross total income was up to Rs 2 lakh in a year could have availed this exemption in respect of travel expenditure incurred by employer for medical treatment abroad. This monetary limit of Rs 2 lakh was fixed way back in 1993 and hence, the need was felt to increase this threshold to benefit more employees with lower salary income. Thus, Finance Act, 2025 amended this provision to provide that the monetary limit will be prescribed by the rules. Consequently, Rule 3D of Income Tax Rules, 1962 has been now introduced to prescribe the monetary limit as Rs 8 Lakh in place of earlier Rs 2 lakh. Thus, for AY 2026-27, in case of employees having gross total income up to Rs 8 lakh, travel expenditure incurred by employer for medical treatment abroad of employee or any family member will not be treated as perquisite. Conditions for overseas medical treatment perquisite Medical treatment abroad must be relating to the employee or any family member (patient). Expenditure relating to travel and stay abroad must be relating to the patient and one attendant who accompanies the patient. Expenditure is to the extent permitted by the RBI (i.e. LRS limit of USD 250,000 per annum). How were these amendments made? 'These amendments were carried out under the Income-tax Act, 1961 through the rule-making powers conferred on the Central Government by Section 295, read with the relevant provisions of Section 17(2).' 'It has been notified by the Central Board of Direct Taxes (CBDT) vide Notification No. 133/2025, dated 18th August 2025, inserting Rules 3C and 3D into the Income-tax Rules, 1962. Accordingly, it is a subordinate legislation in the form of a notification under the Income Tax Act, 1961 and not a part of the amendments proposed in the Income-tax (Amendment) Bill, 2025.' As such, this particular change could not be debated in Parliament, since it does not form part of the Income Tax Bill, 2025 introduced on August 11, 2025. Instead, it has been introduced directly by way of a CBDT notification in exercise of delegated legislative authority. On August 18, 2025, the Central Board of Direct Taxes (CBDT) issued a notification which effectively increased the income threshold limits for calculating tax-free perquisites (perks) in salary income. These new limits were introduced in the Finance Act, 2025, via a notification in the India e-Gazette, and will take effect from April 1, 2025 (AY 2026-27).Previously, the salary income limit for tax free perquisite were Rs 50,000 for specified employees and Rs 2 lakh for overseas medical treatment. Now, these limits have been significantly raised to Rs 4 lakh for specified employees and Rs 8 lakh for overseas medical treatment, thanks to the insertion of new Rules 3C and 3D into the Income-tax Rules, Rs 4 lakh and Rs 8 lakh mentioned above refers to the threshold limit of salary or gross total income of the employee,which allows certain benefits/amenities to be excluded from perquisite taxation; they do not represent the value of benefit/ amenities on to see how this impacts salaried are two separate changes introduced by these amendments:Example: The effect of this change is that for AY 2026-27 if your salary income is let's say Rs 3.99 lakh and you are getting interest free loans or free educational facilities for children, etc from your employer, then you don't need to pay any income tax on such a benefit (perquisite).Chartered Accountant (Dr) Suresh Surna explains: The term 'specified employee' is defined under Rule 3 for the purposes of valuation of perquisites. It refers to:Surna explains: 'This prescribed limit has now been enhanced to Rs 4 lakh (from Rs 50,000 earlier). The effect of this change is that employees with salary income up to Rs. 4 lakh will not fall under the category of 'specified employees' and therefore will not be subject to perquisite taxation on certain benefits (such as interest-free loans or free educational facilities for children). Only those with salary income above Rs. 4 lakh will be treated as 'specified employees' for these purposes.'S. Vasudevan, Executive Partner, Lakshmikumaran & Sridharan attorneys agrees with Surana and adds: 'This monetary limit of Rs 50,000 was fixed way back in 2001 and hence, the need was felt to increase this threshold to benefit more employees with lower salary income. Thus, for AY 2026-27, in case of employees having salary income (monetary) up to Rs 4 lakh, non-monetary benefits/ amenities received from employers will not be treated as perquisite.'This means that if an employee's gross total income (before claiming this tax exemption) does not exceed Rs 8 lakh, the value of such medical perquisite will not be taxed. If the gross total income exceeds Rs 8 lakh, the amount spent on overseas medical treatment will be treated as a taxable from Lakshmikumaran & Sridharan attorneys, explains:Vasudevan, explains: The tax exemption on perks is subject to the following conditions:Surana explains:
Time of India
5 minutes ago
- Time of India
iPhone 17 now made in Bengaluru: Foxconn starts production at $2.8 billion plant; Devanahalli unit is 2nd largest outside China
BENGALURU: Bengaluru is taking a bigger bite of Apple as the city becomes increasingly central to the tech giant's global manufacturing strategy. Karnataka industries minister M B Patil announced on X that Foxconn, Apple's Taiwanese contract manufacturer, has officially started production of the iPhone 17 at its new facility in Devanahalli in Bengaluru. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru | Gold Rates Today in Bengaluru | Silver Rates Today in Bengaluru He highlighted Apple's growing manufacturing presence in India and Bengaluru's key role in it. This is Foxconn's 2nd largest unit outside China, built with an investment of $2.8 billion (Rs 25,000 crore) and Apple is looking to increase its India output. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
