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Retrospective clarifications on re-assessment and invalidation of tax orders
toi11d ago

Retrospective clarifications on re-assessment and invalidation of tax orders

New tax clarifications, effective retrospectively, aim to resolve disputes over reassessment notices and assessment orders lacking a Document Identification Number (DIN). These changes, impacting many taxpayers, seek to prioritize the intent of tax laws over minor technical errors, potentially reducing litigation and offering a pragmatic shift in tax administration.

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Dalal Street Unhappy With Budget 2026, Sensex Tests 80,650, Nifty Marginally Down
abplive11d ago

Dalal Street Unhappy With Budget 2026, Sensex Tests 80,650, Nifty Marginally Down

Indian equity benchmarks are set to open the week under pressure after suffering their sharpest Budget Day decline in six years during Sunday’s special trading session. The BSE Sensex rang the opening bell on Monday below 80,650, falling just over 75 points, while the NSE Nifty50 started the session under 24,750, taking a hit of close to 100 points.In the pre-open hour, both benchmarks remained nearly flat. Around 9:04 AM, the Sensex slipped 27 points and the Nifty tested 24,800. On the 30-share Sensex, L&T, BEL, Adani Ports, IndiGo, and Asian Paints emerged among the gainers. Meanwhile, the laggards included NTPC, Titan, ITC, Bajaj Finserv, and Trent.Notably, a surprise hike in the Securities Transaction Tax (STT) on derivatives triggered a broad-based sell-off, wiping out significant investor wealth and pushing key indices sharply lower on Sunday.The steep fall came after Finance Minister Nirmala Sitharaman proposed raising the STT on futures contracts to 0.05 per cent from 0.02 per cent, unsettling traders and institutional participants alike.Worst Budget Day Fall In Six YearsReversing early gains, the Sensex plunged 2,370.36 points, or 2.88 per cent, during afternoon trade to breach the 80,000 mark and touch 79,899.42. The benchmark eventually settled at 80,722.94, down 1,546.84 points, or 1.88 per cent on Sunday.The Nifty declined 495.20 points, or 1.96 per cent, to close at 24,825.45. Stock exchanges had conducted a special trading session on Sunday to coincide with the Union Budget presentation. The decline marked the worst Budget Day performance since February 1, 2020, when the Sensex had ended 2.42 per cent lower, and the Nifty had dropped 2.51 per cent.Rs 9.40 Lakh Crore Wealth ErosionThe sharp slide in equities led to a significant erosion in investor wealth. The market capitalisation of BSE-listed companies shrank by Rs 9,40,581.75 crore in a single day to Rs 4,50,61,658.60 crore ($4.90 trillion).Market unease centred largely on the higher transaction costs arising from the increase in STT on futures and options (F&O), particularly the steeper hike in futures.Pranav Haridasan, MD and CEO, Axis Securities, said the move comes after last year’s rise in capital gains taxes, cumulatively increasing transaction costs for market participants.“Futures are a margined, risk-managed product and not typically the primary source of retail excess, which raises questions on whether higher STT will deliver the desired outcome or instead weigh on liquidity, participation and India’s market cost competitiveness,” he noted, adding that these concerns are being voiced by both foreign investors and domestic traders.Global Cues And Previous SessionAsian and European markets were closed on Sunday due to holidays, while US markets had ended lower on Friday.Foreign Institutional Investors had bought equities worth Rs 2,251.37 crore on Friday, according to exchange data.In the previous session on Friday, the Sensex had declined 296.59 points, or 0.36 per cent, to settle at 82,269.78, while the Nifty fell 98.25 points, or 0.39 per cent, to close at 25,320.65.With the sharp Budget Day correction and concerns over liquidity and FPI participation, markets are likely to remain sensitive to further policy clarifications and global cues as trading resumes today.

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Crypto Futures Liquidations Trigger $144 Million Hourly Market Shakeup
bitcoinworld11d ago

Crypto Futures Liquidations Trigger $144 Million Hourly Market Shakeup

BitcoinWorldCrypto Futures Liquidations Trigger $144 Million Hourly Market ShakeupGlobal cryptocurrency markets experienced significant turbulence today as major exchanges reported $144 million in futures liquidations within a single hour, signaling heightened volatility across digital asset derivatives. According to real-time data from leading trading platforms, this rapid liquidation event contributed to a broader 24-hour total of $659 million in futures positions being forcibly closed. Market [...]This post Crypto Futures Liquidations Trigger $144 Million Hourly Market Shakeup first appeared on BitcoinWorld.

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Senate Vetoes Spending Bill, but Some BTC and XRP Holders Are Quietly Settling $9,000 Daily
nairobiwire11d ago

Senate Vetoes Spending Bill, but Some BTC and XRP Holders Are Quietly Settling $9,000 Daily

Before January 30, 2026 (U.S. time), the U.S. federal government may face another partial shutdown after the Senate rejected six spending bills by a 45–55 vote, sparking volatility across financial and crypto markets. Traders estimate a 50% shutdown risk, while the CoinMarketCap Fear & Greed Index remains low at 38, signaling continued investor caution amid fears of further downside. Market Uncertainty Spurs Strategy Shifts In this uncertain environment, some BTC and XRP holders have quietly adjusted their strategies. At the same time, CryptoMiningFirm is converting market volatility into real returns by settling 5,000 XRP daily (approximately $9,000)—allowing investors Platform AdvantagesThe post Senate Vetoes Spending Bill, but Some BTC and XRP Holders Are Quietly Settling $9,000 Daily appeared first on Nairobi Wire.

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Ethereum Price Plummets Below $2,200: A Deep Dive into Market Forces and Technical Drivers
bitcoinworld11d ago

Ethereum Price Plummets Below $2,200: A Deep Dive into Market Forces and Technical Drivers

BitcoinWorldEthereum Price Plummets Below $2,200: A Deep Dive into Market Forces and Technical DriversIn a significant market movement observed globally on major exchanges, the price of Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, has decisively broken below the psychologically important $2,200 support level. According to real-time data from the Binance USDT trading pair, ETH is currently trading at $2,174.03, marking a notable retreat from recent higher [...]This post Ethereum Price Plummets Below $2,200: A Deep Dive into Market Forces and Technical Drivers first appeared on BitcoinWorld.

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