CITY LENS

MUMBAI: The rupee closed at 95.4 against the dollar, down 15 paise from its previous close of 95.25 in the foreign exchange market, with renewed demand for dollars spurring speculation over the return of oil marketing companies (OMCs) to the forex market.To reduce market demand for dollars and stem rupee volatility, RBI had earlier this…

The government on Friday imposed a windfall gains tax of Rs 3 per litre on petrol exports while reducing export levies on diesel and aviation turbine fuel (ATF), as crude oil prices remained elevated amid the ongoing West Asia conflict, PTI reported.The revised rates will come into effect from May 16.According to finance ministry notifications,…

India is seeking support from the United States to secure marine insurance cover for vessels transporting oil from the Middle East, as the government looks to ensure continuity of energy supplies amid disruptions in the Strait of Hormuz, a senior oil ministry official told PTI.The move comes as the widening conflict in West Asia has…

Under the 2018 redevelopment agreement, the man received Rs 75 lakh and declared the capital gains arising from the transaction. (Image for representative purpose only) You give your house for redevelopment to a builder and get money from the builder and some floors. You claim long-term capital gains exemption, but the tax department sends you…