Latest news with #GauravJain
Mint
5 days ago
- Business
- Mint
Income Tax: Why you should make a special note of July 23 as you file your ITR? All you need to know
On July 23, 2024, Finance Minister Nirmala Sitharaman tabled Budget 2024-25, which carried an array of landmark changes, especially with regards to long-term capital gains tax. These changes include lowering of long-term capital gains tax rate to 12.5 percent (from 20 percent earlier) while indexation – that allows for adjusting the cost of asset with regards to inflation -- was phased out. Pathbreaking! Isn't it? The changes were certainly significant, but much needed at the same time, argued experts then. As tax filing season for FY 2024-25 is on, these changes gain a lot of significance, and several taxpayers would be struggling to comprehend the nuances of those changes. We have deconstructed most of those changes relating to long-term capital gains, which were introduced on the D-day of July 23. Notably, the provision of indexation, which was phased out on July 23, 2024, was restored for those asset owners who had purchased their asset(s) before July 23, 2024. They could simply opt for one of the two options: use indexation with a 20 percent tax rate, or skip indexation and pay the capital gain tax rate at 12.5 percent. And one is expected to choose the option (with or without indexation) that leads to lower tax liability – for obvious reasons. Gaurav Jain, Partner, Direct Tax, Forvis Mazars in India, simplifies the tax provision relating to long-term capital gain. 'For any capital asset sold on or after July 23, 2024, the new regime applies. The changes are significant and affect how tax is calculated on gains. Now, a uniform tax rate of 12.5% applies to long-term capital gains (LTCG) across most asset classes, regardless of indexation. In the case of land and buildings sold on or after July 23, 2024, tax will be charged at 12.5 per cent without indexation. If the aforesaid asset, being land or building, was acquired before July 23, 2024, the taxpayer has the option to choose between12.5% without indexation, or20% with indexation,' says Jain. Short-term gains on financial assets: These assets now attract a tax rate of 20 per cent instead of 15 per cent earlier. Other financial assets: On all other financial assets and non-financial assets, there will be an applicable tax rate based on the tax slab that applies. Long-term capital gains: All financial and non-financial assets attract a tax rate of 12.5 per cent instead of 20 percent earlier. Exemption limit: The limit of exemption of capital gains on certain listed financial assets is ₹ 1.25 lakh per year instead of ₹ 1 lakh earlier. For all personal finance updates, visit here
Time of India
31-07-2025
- Business
- Time of India
Nurturing The Indian Mindset for The Global Footprint
Rooted in Indian values and nurtured by British academic excellence, SP Jain's London campus prepares students for global careers in a changing world Gaurav Jain, Director of Business Development at SP Jain London School of Management, has a clear vision: equip Indian students with global perspectives and prepare them to thrive in an increasingly competitive and evolving job market. Having studied in both Australia and the U.S., Jain understands firsthand the value of international exposure—and he believes London is currently one of the best destinations for that journey. 'Indian mindset, global opportunities,' he shares. 'There is no city more global than London.' The capital's diversity—of people, industries, and thought—offers students an unmatched environment to learn and grow. From fintech to pharma, consultancy to AI startups, London's dynamic economy allows students to explore beyond traditional career paths. Jain stresses that success abroad isn't automatic. 'Students don't get jobs in the UK because they're not prepared for them,' he says. Preparation goes beyond academics—it's about understanding British work culture, mastering soft skills, and becoming interview-ready from day one. SP Jain tackles this challenge head-on through its Professional Readiness Program, combining CV reviews, mock interviews, and even AI-based simulations of real job interviews at companies like Amazon. This holistic approach helps students build confidence and cultural fluency. The school also places a strong emphasis on experiential learning. Based in London's Canary Wharf, students are immersed in the city's business core. Regular visits to firms like HSBC, Salesforce, and Deliveroo give them a front-row seat to real-world operations and industry transformation. 'Seeing how jobs evolve and how professionals adapt is transformative,' Jain explains. But it's not just about jobs. SP Jain ensures students develop as well-rounded individuals, taking them to cultural landmarks like Wembley Stadium and the Tate Modern to enrich their global awareness. 'In the age of AI, you need both hard and soft skills,' says Jain. As the UK and India move toward closer economic ties, opportunities for culturally agile professionals are set to rise. Jain sees this as a unique moment for Indian students to shape their future boldly—whether through entrepreneurship or cross-border careers. 'We're not living the last 20 years—we're preparing for the next 20.' SP Jain is well reputed for its razor-sharp focus on employment and SP Jain London continues this legacy with successful placements and internships in the UK. And for graduates seeking jobs in Dubai and India as well. Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
Time of India
04-07-2025
- Business
- Time of India
ED uncovers 100cr financialfraud in Jaipur-based company
Jaipur: The Enforcement Directorate (ED) Friday conducted raids at 12 locations across Jaipur, Tonk and Kota, uncovering a massive financial fraud exceeding Rs 100 crore by Debock Industries Ltd, a city-based group. The agency had investigated the company following a complaint by the Securities and Exchange Board of India (Sebi). During the raids, ED officials seized over Rs 70 lakh in cash, property documents. The group's eight luxury vehicles, including a Rolls Royce and a Bentley, are also being assessed. The operations targeted the premises of company owner Mukesh Manvir Singh and other key individuals allegedly involved in the scam, including Gaurav Jain and Jyoti Chaudhary. According to a senior ED official who spoke on condition of anonymity, the Jaipur-based company, which operates in agricultural equipment, hospitality services and mining sectors, allegedly created fake firms and appointed proxy directors between 2020 and 2023 to inflate their earnings and balance sheets. "This manipulation resulted in an extraordinary increase in the company's share price from Rs 8 to Rs 150 within six months during 2023," the ED official told TOI. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Men Over 50: Frequent Urination & Weak Stream? Do this Before Bed healthydayscare Click Here Undo by Taboola by Taboola "The actions of the company, prima facie, reveal a brazen and calculated effort to defraud investors and deceive regulatory authorities," the official said. The investigation revealed that the company manipulated the share through listing fictitious entities in the stock market. Sebi had initially filed a prosecution complaint against Debock Industries in Aug 2024, which led to the ED investigating the company for money laundering in March 2025. The probe will continue as ED processes the seized documents and assets. Investigators are currently reviewing monetary documentation, payment pathways and corporate hierarchies connected to the company and its related business units.
Fashion Value Chain
03-07-2025
- Business
- Fashion Value Chain
Orange Tree Launches Immersive 6th Store in Raipur
Jodhpur-based lifestyle brand Orange Tree has opened its 6th experiential store in Raipur, marking a key milestone in its expansion journey. Nestled amid greenery on Devpuri Road, the 2,000 sq ft store brings together contemporary aesthetics and India's rich artisanal heritage under one immersive retail experience. This new space is more than just a showroom — it's a curated experience. Every section, from living and dining to bedroom displays, is designed to evoke a home-like ambiance, allowing customers to easily envision Orange Tree's lighting, furniture, and décor in their own spaces. The journey begins with a Wall of Fame, showcasing the evolution of Orange Tree's parent company, Basant, followed by a captivating Décor Wall and a Material Library presenting an array of woods, metals, stones, fibres, and marbles in diverse finishes. The Craftsmanship Wall spotlights traditional techniques interwoven into modern designs, underscoring the brand's commitment to artistry, sustainability, and innovation. One of the highlights is the Lighting Section, where Orange Tree's luminous creations blend function with form — with standouts like the Abascus Collection, known for its artisanal detailing, and the Andaman Collection, reflecting refined modern elegance. Founder Gaurav Jain commented, 'Raipur's emergence as an economic and cultural hub presents exciting opportunities. We're thrilled to bring globally inspired designs rooted in Indian craftsmanship to this dynamic city.' The Raipur store reflects Orange Tree's mission to offer modern artisanal living, creating a sensory-rich shopping experience that celebrates both creativity and culture.
News18
02-07-2025
- Business
- News18
ITR Filing For Freelancers & Gig Workers: Which Form To Use, What To Claim, And Docs To Keep
Last Updated: ITR Filing: From ITR form to documents they need, let's us know everything about ITR filing for freelancers, creators and gig workers. ITR Filing 2025-26: Though the deadline for the income tax return (ITR) filing for FY2025-26 has been extended to September 15, 2025, taxpayers are advised to complete their tax filing responsibility as soon as possible. It helps to avoid near-deadline rush and errors, which might occur in a hurry. There's a rising workforce in the country that includes freelancers, creators, and gig workers. They don't come under a formal job structure, which means their tax filing process might be different from the formal tax filing process. Freelancers, creators, and gig workers may face a challenge while filing the ITR. Thus, we asked experts to simplify the process, allowing them to understand things they should keep in mind. From ITR form to documents they need, let's us know everything about ITR filing for freelancers, creators and gig workers. Which ITR Form To Use? According to CA (Dr.) Suresh Surana, freelancers generally need to file either ITR-3 or ITR-4, depending on their income and the tax scheme chosen. ITR-4 (Sugam) is applicable to those opting for the presumptive taxation scheme under Section 44ADA, typically with gross receipts up to Rs 3 crore (if cash transactions are under 5%). In this case, 50% of the income is presumed to be profit. Gaurav Jain, Partner at Forvis Mazars India, adds that ITR-3 should be filed by those who wish to declare actual income after deducting expenses or whose receipts exceed the presumptive limit. It is also required for professionals who maintain books of accounts. Yes. Both experts confirm freelancers can claim expenses like laptop purchases, internet bills, travel costs, and software subscriptions, provided they are used wholly and exclusively for professional work. Assets like laptops qualify for depreciation, typically at 40%. However, Surana warns that those opting for the presumptive scheme under Section 44ADA cannot claim individual deductions—50% of income is considered net taxable profit. Documents You Must Keep Freelancers must retain invoices, receipts, contracts, bank statements, and proof of asset purchases. Jain notes that even a basic income-expense spreadsheet helps, especially for those not under presumptive tax.
