President Joe Biden on Thursday - the third anniversary of George Floyd’s murder - vetoed an effort led by congressional Republicans to overturn new District of Columbia law on improving police accountability
from ABC News: US https://ift.tt/viu4yHU
via
Thursday, 25 May 2023
Tax-Free Leave Encashment Limit After Retirement Raised To Rs 25 lakh
In line with the Budget announcement, the finance ministry on Thursday hiked the tax exemption limit for leave encashment upon retirement for private sector salaried employees to Rs 25 lakh.
So far, the tax exemption on leave encashment for non-government employees was Rs 3 lakh which was fixed in 2002, when the highest basic pay in the government was Rs 30,000 per month.
The Central Board of Direct Taxes (CBDT), in a statement, said the aggregate amount exempt from income tax under section 10(10AA)(ii) shall not exceed the limit of Rs 25 lakh, where any such payments are received by a non-government employee from more than one employer.
The increased limit for tax exemption on leave encashment on retirement or otherwise of non-government salaried employees to Rs 25 lakh with effect from April 1, 2023.
"In pursuance to the proposal in the Budget speech, 2023,... the central government has notified the increased limit for tax exemption on leave encashment on retirement or otherwise of non-government salaried employees to Rs 25 lakh w.e.f. 01.04.2023," the CBDT said.
In 2023-24 Budget, finance minister Nirmala Sitharaman had increased the tax exemption on leave encashment on retirement of non-government salaried employees to Rs 25 lakh, from Rs 3 lakh.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/rMpQH1C
via
2 North Carolina state legislators lose leadership roles after remarks
Wednesday, 24 May 2023
Why is Target pulling some Pride merch? The retailer's response to hostile backlash, explained
Prosecutor: Fatal shooting of Grammy winner by police 'reasonably necessary'
A June pause in rate hikes would be a close call for Fed officials, minutes of last meeting show
LIC Q4 Net Profit Rises Five-Fold To Rs 13,191 Crore
Insurance behemoth LIC on Wednesday posted a more than five-fold jump in consolidated net profit to Rs 13,191 crore for the fourth quarter ended March 2023.
The insurer had earned a profit of Rs 2,409 crore in the same quarter a year earlier.
However, the total income of the insurer during the March quarter declined to Rs 2,01,022 crore from Rs 2,15,487 crore in the same period of the previous fiscal, LIC said in a regulatory filing.
LIC's income from first-year premium also came down to Rs 12,852 crore against Rs 14,663 crore in the same quarter previous fiscal.
The income from renewal premiums in the reporting period rose to Rs 76,328 crore compared to Rs 71,473 crore a year ago, while the single premium decreased to Rs 43,252 crore from Rs 58,251 crore.
For the entire financial year 2022-23, LIC registered a multi-fold rise in net profit to Rs 35,997 crore from Rs 4,125 crore in the preceding financial year.
The surge in annual profit for FY23 was helped by a jump in the second quarter bottomline to Rs 15,952 crore. It was due to a transfer of Rs 15.03 lakh crore to shareholders' accounts at the end of September.
The board of LIC has recommended a final dividend of Rs 3 per equity share with a face value of Rs 10 each for the year ended March 31, 2023.
The solvency ratio - which measures an insurance company's cash flow in comparison to the amount it owes as total life cover - increased to 1.87 per cent as of March 31, 2023, against 1.85 per cent at the end of the preceding fiscal.
The insurer's gross non-performing assets (NPAs) moderated to 2.56 per cent from 6.03 per cent at the end of March 2022.
In absolute terms, it declined substantially to Rs 12,031 crore from Rs 27,087 crore at the end of the preceding financial year.
LIC brought down its net NPAs to nil level from 0.04 per cent at the end of March 2022.
Shares of the LIC closed 0.61 per cent higher at Rs 593.55 apiece on BSE.
Last year, the government raised Rs 20,557 crore by diluting its 3.5 per cent stake in the LIC through the initial public offering (IPO), the country's biggest ever.
LIC shares were listed at a discount of 8.62 per cent at Rs 867.20 apiece on BSE over the issue price of Rs 949 a share.
Investors have lost nearly Rs 2.5 lakh crore since the listing of shares.
The government sold over 22.13 crore shares or a 3.5 per cent stake in LIC through the IPO. The price band of the issue was Rs 902-949 a share. However, shares were allocated to investors on May 12, 2022, at the upper end of the price band.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV Profit-Latest https://ift.tt/vsmeRgu
via
Police: Man who said he was headed to CIA arrested at nearby preschool with AK-47 rifle in car
Who Is Akash Madhwal? The Engineer Breaking IPL Bowling Records For MI
It was the Akash Madhwal show at the MA Chidambaram Stadium in Chennai on Wednesday as the young fast bowler picked up five wickets to guide Mumbai Indians to victory over Lucknow Super Giants in the Indian Premier League (IPL) 2023 Eliminator. The figures of 5/5 in 3.3 overs was enough to put him in an elite list comprising of massive names like Anil Kumble and Jasprit Bumrah. However, just four years ago, Madhwal was playing tennis ball cricket and had never touched a red ball.
Madhwal, who studied engineering, became the first cricketer from the state of Uttarakhand to play in the IPL after he was picked by MI in 2022 as a replacement for the injured Suryakumar Yadav.
In 2019, he caught the attention of the then Uttarakhand coach Wasim Jaffer and present coach Manish Jha and that resulted in the fast bowler starting his practice with the red ball.
What followed was a fairytale run for Madhwal in the domestic season and ahead of the 2023 domestic season, the fast bowler was rewarded for his efforts as Uttarakhand named him the white-ball skipper.
The MI bowler also has an interesting connection with India wicket-keeper batsman Rishabh Pant.
Both cricketers hail from the same area in from Uttarakhand and during his formative years, Madhwal also trained under Avtar Singh, the cricket coach who trained Pant before he moved to Delhi.
“He (Akash) was the part of the team last year as a support bowler, and once Jofra was gone and I knew he had skills and the character to do the job for us. Over the years we have seen many guys coming in from Mumbai Indians and playing for India,” MI skipper Rohit Sharma said after the match.
from NDTV Sports-Cricket https://ift.tt/6PcaoLj
via
Tuesday, 23 May 2023
Energy Dept. cancels $200M grant to battery maker after GOP criticism over alleged ties to China
Appeals court ruling deals legal setback to Biden administration in gun stabilizing brace case
CSK Enter Record-Extending 10th IPL Final With 15-Run Win Over GT
Chennai Super Kings tamed a tenacious Gujarat Giants by 15 runs on a sticky surface to enter their 10th IPL final at Chepauk on Tuesday and extend their remarkable consistency in the tournament. CSK did well to reach 172 for 7 on a slow pitch in Qualifier 1 after Hardik Pandya opted to bowl. Considering the conditions, it turned out to be much more than a competitive total as Gujarat Titans had a rare off day to end with 157 all out in 20 overs. Rashid Khan made the CSK fans nervous with a 16-ball 30 towards the end but it was not enough for the Titans.
However, the defending champions will got another shot to make a second successive final in Qualifier 2 on Friday.
CSK's master tactician M S Dhoni made the best use of home advantage to take the four time champions to a 10th final in 14 editions. CSK did not take part in 2016 and 2017 editions.
Left-arm spinner Ravindra Jadeja (4-0-18-2) did the star turn for the Super Kings with a brilliant spell during which he strangled the opposition batters to avenge the defeat suffered in the tournament opener. Matheesha Pathirana, Maheesh Theekshana and Deepal Chahar also finished with two wickets each.
Chasing 173, GT lost Wriddhiman Saha (12) in the third over.
Skipper Hardik Pandya (8) could not make much impact at number three, miscuing a cut off Theekshana for Jadeja to pouch a catch at point.
Sri Lanka's limited overs teams' captain Dasun Shanaka (17) could not get going as well and his reverse sweep off Jadeja landed in the hands of Theekshana.
Jadeja made things tougher for GT by castling the dangerous David Miller (4) to leave the opposition at 88 for 4 in the 13th over. The Titans slipped further when Rahul Tewatia was bowled by Theekshana for 3.
Earlier, the Super Kings batters had a tough time on a slow pitch as they were not able to force the pace.
Dhoni lasted only 2 balls for his 1 run, much to the disappointment of an adoring Chepauk crowd.
For the home team, Ruturaj Gaikwad was the best batter, scoring a superb 60 off 44 while the others could not make a substantial contribution.
Pacer Mohammed Shami (2 for 28 in 4 overs) was the best bowler while Mohit Sharma (2/31) also picked up two wickets. Rashid Khan and Noor Ahmed scalped a wicket each and put pressure on the batters in the middle overs.
Gaikwad had a stroke of luck when he was caught by Shubman Gill off Darshan Nalkande only for the delivery to be declared a no-ball. He capitalised on the let-off and played some superb shots. The very next ball after he got a reprieve, he smacked a six and hit a four from the next delivery.
The in-form Gaikwad did not get bogged down against the spin of Rashid Khan and Noor Ahmed, the key bowlers for GT. He scored freely against all the bowlers and got CSK off to a brisk start with 49 being scored in the powerplay.
Gaikwad appeared to slow down after having outscored his opening partner Devon Conway with whom he shared yet another half-century stand. He fell trying to force the pace, to a catch by David Miller off Mohit Sharma. Ajinkya Rahane (17 off 10) hit one six before being Nalkande's only scalp as the scoring slowed down.
Conway was not his usual fluent self and struggled with his timing all though his innings.
Ambati Rayudu (17 off 9) crossed the 6,000 IPL-run mark during the course of his cameo.
The home team did well to collect 35 runs off the last three overs.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
from NDTV Sports-Cricket https://ift.tt/O6eIRMG
via
2 employees injured in fire at refinery in southern Oklahoma
Subscribe to:
Comments (Atom)