Latest news with #892
Hans India
23-07-2025
- Business
- Hans India
Government forgoes Rs 99K cr tax revenues via incentives in FY24
New Delhi:The government is estimated to have forgone around Rs 99,000 crore in revenue in the 2023-24 fiscal on account of tax incentives extended to corporates, Minister of State for Finance Pankaj Chaudhary said on Tuesday. Corporate tax rates have been gradually reduced since 2016, while phasing out the exemptions and incentives. In a written reply in the Rajya Sabha, Chaudhary gave the estimated revenue forgone due to the tax incentives by way of various deductions in corporate tax, from FY 2019-20 to 2023-24. The corporate tax revenue foregone in 2023-24 stood at Rs98,999, followed by Rs88,109 crore and Rs96,892 crore in 2022-23 and 2021-22, respectively. In 2020-21 and 2019-20, the total corporate tax revenue foregone was Rs75,218 crore and Rs8,043 crore respectively. The minister was replying to a question from AAP MP Raghav Chadha on the estimated loss to the exchequer due to the corporate tax reductions from 2019-20 to 2024-25, and for the financial year (2024-25). Estimated revenue foregone for the financial year 2024-25 till date is not available, Chaudhary said. Through Finance Act, 2016, the corporate tax rates were reduced to 29 per cent of the total income to promote growth, boost investment and create more job opportunities. In 2017, the corporate tax rates were reduced to 25 per cent of the total income, make smaller domestic companies having annual turnover of Rs50 crores more viable and to encourage firms to migrate to company format. In September 2019, the government announced a cut in base corporate tax for then existing companies to 22 per cent from 30 per cent; and for new manufacturing firms, incorporated after October 1, 2019, to 15 per cent from 25 per cent, provided they forego all exemptions and incentives. Vide Finance Act, 2024, tax rates on the income of foreign companies (other than that chargeable at special rates) have been reduced from 40 per cent to 35 per cent to promote investment and employment.
![MARKET PULSE PM JULY 3, 2025 [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
03-07-2025
- Business
- New Straits Times
MARKET PULSE PM JULY 3, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia closed lower today, ending a five-day rally, as profit-taking and cautious sentiment outweighed broader market gains. The benchmark index was dragged down by mixed performances among blue chips, amid ongoing export concerns and trade volatility. Broader segments of the market, however, remained resilient, supported by steady investor interest beyond blue-chip counters. Meanwhile, the ringgit strengthened against the greenback today to 4.2170. In the crypto market, Bitcoin rose to RM459,844 on signs of improving US trade relations. Ethereum climbed to RM10,892, while Solana was up at RM652. That's it for Market Pulse.
GMA Network
27-06-2025
- General
- GMA Network
No winners of major lotto draws on Friday, June 27, 2025
There were no winners of either of the major lotto jackpots offered on Friday, June 27, 2025, the Philippine Charity Sweepstakes Office (PCSO) announced. No bettor chose the winning combination of 09-23-57-01-15-39 picked for the Ultra Lotto 6/58 jackpot prize of P158,689,842.40. There was also no winner of the Megalotto 6/45 jackpot of P36,892,798.40, with the winning combination of 24-25-12-43-02-42. Click here for the complete lotto results. — BAP, GMA Integrated News
eNCA
28-05-2025
- Entertainment
- eNCA
"King of kitsch" Tretchikoff sells for new world record
JOHANNESBURG - Vladimir Tretchikoff's iconic painting "Lady from the Orient" has sold for more than $1.7m in a new world record for the Russia-born South African painter, a Johannesburg auction house said Wednesday. The 1955 portrait of a glamorous woman in a green and gold silk gown is among Tretchikoff's most recognisable pieces, reproduced the world over on items such as tablecloths to handbags. It sold to an anonymous telephone bidder late Tuesday for R31,892,000 (US$1,776,017), the Strauss & Co auction house said. The final price, inclusive of commission and taxes, "comfortably eclipses" the previous world record for a Tretchikoff work of £982,050 for "Chinese Girl" (1952) sold in London in 2013, it said in a statement. The painting of the daughter of a Cape Town grocer was a particular sensation in 1960s Britain and is among the most famous images produced by Tretchikoff, who moved to Cape Town in 1946 and died there in 2006. "It was sold as a reproduction in London from 1962 and it was the second-highest selling print in Britain in 1962 and a massive seller in 1963, '64, '65," senior art specialist at Strauss & Co, Alastair Meredith, told AFP ahead of the auction. Tretchikoff, whose stylised work -- including the famous "The Dying Swan" (1949) -- led some to call him "the king of kitsch", became wealthy through the reproductions and prints of his pieces. "Tretchikoff essentially authorised huge numbers of prints of his own paintings to be sold at very cheap prices in department stores and stationery shops all around the world," Meredith said. "Lady from the Orient" is "part of South Africa's cultural and visual makeup, part of our country's aesthetic history. But it's also a global icon," he said. Tretchikoff was born in what is now Kazakhstan, and was then Russia, in 1913. He fled with his family to China at the 1917 Russian revolution and grew up in Shanghai, before moving to Singapore and then South Africa.
Eyewitness News
28-05-2025
- Entertainment
- Eyewitness News
S.Africa's 'king of kitsch' Tretchikoff sells for new world record
JOHANNESBURG - Vladimir Tretchikoff's iconic painting "Lady from the Orient" has sold for more than $1.7m in a new world record for the Russia-born South African painter, a Johannesburg auction house said Wednesday. The 1955 portrait of a glamorous woman in a green and gold silk gown is among Tretchikoff's most recognisable pieces, reproduced the world over on items such as tablecloths to handbags. It sold to an anonymous telephone bidder late Tuesday for R31,892,000 (US$1,776,017), the Strauss & Co auction house said. The final price, inclusive of commission and taxes, "comfortably eclipses" the previous world record for a Tretchikoff work of £982,050 for "Chinese Girl" (1952) sold in London in 2013, it said in a statement. The painting of the daughter of a Cape Town grocer was a particular sensation in 1960s Britain and is among the most famous images produced by Tretchikoff, who moved to Cape Town in 1946 and died there in 2006. "It was sold as a reproduction in London from 1962 and it was the second-highest selling print in Britain in 1962 and a massive seller in 1963, '64, '65," senior art specialist at Strauss & Co, Alastair Meredith, told AFP ahead of the auction. Tretchikoff, whose stylised work - including the famous "The Dying Swan" (1949) - led some to call him "the king of kitsch", became wealthy through the reproductions and prints of his pieces. "Tretchikoff essentially authorised huge numbers of prints of his own paintings to be sold at very cheap prices in department stores and stationery shops all around the world," Meredith said. "Lady from the Orient" is "part of South Africa's cultural and visual makeup, part of our country's aesthetic history. But it's also a global icon," he said. Tretchikoff was born in what is now Kazakhstan, and was then Russia, in 1913. He fled with his family to China at the 1917 Russian revolution and grew up in Shanghai, before moving to Singapore and then South Africa.
