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Salaried class once again emerges as single largest income tax contributor – SUCH TV

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Salaried class once again emerges as single largest income tax contributor – SUCH TV



The salaried class has once again emerged as the single largest income tax contributor, paying more than exporters, retailers and property buyers and sellers combined during the first seven months of the current fiscal year, citing Federal Board of Revenue (FBR) data.

Three major sectors, including retailers who own three million outlets, exporters who earn in foreign exchange, and sellers and purchasers of properties, have cumulatively coughed up Rs293 billion into the national kitty in the July-Jan period of FY26, while the salaried class paid Rs315 billion alone in this period.

Just ahead of the upcoming IMF review mission, this data shows that the powerful and politically entrenched segments are paying less than the salaried class.

It is yet to be seen whether the newly established Tax Policy Office under the umbrella of the Finance Ministry at Q Block will be able to convince the IMF for slashing tax burden on the salaried class in the next budget for 2026-27.

It shows that the salaried class paid Rs22 billion more as a standalone than the three major sectors of the economy.

Official data of the FBR shows that the exporters paid out tax of Rs50 billion in the first seven months (July-Jan) period of the current fiscal year against Rs54 billion in the same period of the last fiscal year.

As an advance tax of 1%, exporters paid Rs51 billion in the first seven months so their total contribution stood at Rs101 billion in the first seven months of FY26 compared to Rs101 billion in the same period of the last financial year.

The retailers who own 3 million establishments across the country have paid out Rs15 billion as advance tax under section 236G on sales to distributors, dealers, and wholesalers in the first seven months of the current fiscal year against Rs13.5 billion in the same period of the last financial year.

Under 236H, the retailers have paid out Rs25 billion in the first seven months of FY26 against Rs19 billion in the same period of the last financial year.

The FBR has collected Rs105 billion on the sale and transfer of immovable property under 236C of Income Tax in the first seven months of the current fiscal year, compared to Rs65 billion in the same period of the last financial year.

In the budget 2025-26, the gross amount of transactions does not exceed Rs50 million, and there will be a rate of 4.5% for person exist in the Active Taxpayer List.

Where the gross amount of the transaction exceeds Rs50 million but does not exceed Rs100 million, the tax rate for an ATL person will be 5%.

Where the gross amount of a property transaction exceeds Rs100 million, the tax rate for an ATL person is fixed at 5.5%.

The person not in ATL will have to pay a tax of 11.5% under 236C. A person who filed late returns will have to pay 7.5%, 8.5%, and 9.5% for transaction amounts of Rs50 million, Rs 100 million and exceeding Rs100 million.

The FBR has collected Rs47 billion on the purchase and transfer of immovable property in the first seven months of CFY26 compared to Rs66 billion collected in the same period of the last financial year.

On the purchase of property, the tax rates were reduced to 1.5% for person exist in ATL up to a transaction of Rs50 million, 2% for ATL persons where the transaction amount exceeds Rs50 million but does not exceed Rs100 million, and 2.5% where the transaction amount exceeds Rs100 million.

On the other hand, the salaried class belonging to both the public and private sectors have contributed Rs315 billion in the first seven months of the current fiscal year compared to Rs284 billion in the same period of the last financial year.



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Should you buy Hyundai Venue? Check top 8 pros and 5 cons

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Should you buy Hyundai Venue? Check top 8 pros and 5 cons


Hyundai Venue Pros And Cons: The Hyundai Venue has always been seen as “baby Creta”. Now, in its second generation, it feels more grown-up than ever. It looks sharper, it is slightly bigger, and it comes loaded with more features than before. I (Lakshya Rana) spent time driving the new Venue across city roads and highways to see what has changed. On paper, it promises a lot. Multiple engine options, new tech, and even a sportier N Line version for enthusiasts. But no car is perfect. While the Venue does many things right, there are a few areas where it could have done better. Here are its top pros and cons:

Hyundai Venue Pros

1. The new Venue looks completely fresh. The design is bold and futuristic. It definitely grabs attention. 

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2. Build quality feels solid. The doors shut with a reassuring thud. Fit and finish are impressive, just like you would expect from Hyundai.

3. One of the biggest strengths of the Venue is the wide choice of powertrains. You get petrol, turbo-petrol, and diesel options. 

4. Hyundai has also added the missing diesel automatic combination, which many buyers wanted. This gives the Venue an edge, especially for people who drive long distances and prefer the convenience of an automatic.

5. The suspension setup is well-tuned. It handles bad roads comfortably and feels stable around corners. It strikes a nice balance between ride and handling. It does not feel too soft or too stiff. 

6. For enthusiasts, there is the N Line version. It adds a sportier character and sharper driving feel.

7. Feature list? It’s long. You get a 360-degree camera, a dual-curved panoramic display, and an 8-speaker Bose sound system. Wireless smartphone connectivity is there. Ventilated front seats are a big plus in our climate. Rear passengers get sunshades, which is a thoughtful touch. Overall, the Venue feels modern and well-equipped.

8. Safety has also been taken seriously. You get six airbags as standard. There is Level 2 ADAS, electronic stability control, hill start assist, tyre pressure monitoring system, and even all-wheel disc brakes on automatic variants.

Hyundai Venue Cons

1. The design, while bold, may not appeal to everyone. It is sharp and edgy. Some people will love it. Others may find it too much.

2. Pricing is another concern. The top variant is expensive. In many cities, the on-road price is close to Rs 19 lakh, which is too much for this segment SUV.

3. Cabin space has improved slightly. But let’s be honest. This is still a four-seater at best. The rear seat is not comfortable for three adults on long journeys.

4. The light-coloured interiors look premium. But they get dirty very easily, which can be frustrating over time.

5. There are also a few missing features. You do not get automatic wipers. Steering reach adjustment and a full-size spare wheel are also absent.

Should you buy Hyundai Venue?

Overall, the Hyundai Venue is feature-rich, well-built and offers a wide range of powertrains. It feels premium and modern. But high pricing and a few practical compromises may make some buyers think twice. It, however, is one of the best options to consider in the segment.



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US Tariff Cut To 18% To Aid Apparel Exports; Margins Seen Recovering To 9.5% In FY27: ICRA

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US Tariff Cut To 18% To Aid Apparel Exports; Margins Seen Recovering To 9.5% In FY27: ICRA


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Operating profit margins, which are likely to compress to around 7.7 per cent in FY26, are projected to recover to about 9.5 per cent in FY27 as tariff pressures ease, ICRA says.

India's apparel exports stood at $16 billion in FY25, with the US accounting for nearly one-third of shipments.

India’s apparel exports stood at $16 billion in FY25, with the US accounting for nearly one-third of shipments.

The reduction in US reciprocal tariffs on Indian goods to 18 per cent from 25 per cent is expected to support apparel exporters, with operating profit margins likely to recover to around 9.5 per cent in FY27, said ratings agency ICRA on Wednesday.

Following the tariff reset and elimination of the additional 25 per cent ad valorem duty imposed in August 2025, ICRA has revised its outlook on the Indian apparel (exports) sector to ‘Stable’ from ‘Negative’. However, it has retained a Negative outlook on the cut and polished diamonds segment.

“India’s apparel exports stood at $16 billion in FY25, with the US accounting for nearly one-third of shipments. While export revenues are projected to decline 3-5 per cent in FY26, the contraction is expected to be milder than earlier estimates, with revenues seen rebounding 8-11 per cent in FY27,” ICRA stated.

Operating profit margins, which are likely to compress to around 7.7 per cent in FY26, are projected to recover to about 9.5 per cent in FY27 as tariff pressures ease and buyer contracts are renegotiated, it added.

Jitin Makkar, senior vice-president and group head, corporate ratings, ICRA Ltd, said, “The sharp increase in US tariffs last year had been particularly debilitating for export-oriented companies in sectors such as textiles, cut and polished diamonds and leather and leather products.”

He added that apparel exporters, for instance, saw their margins compress by nearly 200 basis points over the past couple of quarters as they were compelled to extend discounts to US buyers to retain volume share.

On the broader outlook, he said, “Against this backdrop, the lowering of US tariffs, as a prelude to the formal signing of the US-India trade agreement in due course, as also the anticipated implementation of the India-EU free trade agreement next year, besides other bilateral trade pacts, augur well for a gradual strengthening of India’s manufacturing export growth over the medium term.”

Meanwhile, ICRA retained a Negative outlook on cut and polished diamonds despite the potential removal of tariffs under the proposed Interim Agreement. The segment continues to face structural headwinds from rising acceptance of lab-grown diamonds and pricing pressures.

Diamond exports, which peaked at $24 billion in FY22, are projected at around $12 billion in FY26, though some improvement is expected in FY27.

Over the longer term, ICRA expects exporters to increasingly pursue geographical diversification and overseas manufacturing to mitigate risks from trade volatility.

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RBI raises ceiling for unsecured loans of UBCs to 25% of total advances

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RBI raises ceiling for unsecured loans of UBCs to 25% of total advances


New Delhi: The Government of India and the Reserve Bank of India (RBI) have taken various measures to strengthen cooperative banks’ financial health, governance and digital inclusion along with enhancing deposit security, credit availability and prudent regulation, said Minister of State in the Ministry of Finance, Pankaj Chaudhary, in Rajya Sabha on Tuesday.

As part of efforts to support business expansion, Urban Cooperative Banks (UCBs) have been permitted to open new branches, enabling wider outreach and improved customer access. In a move aimed at boosting credit flow, the permissible housing loan exposure of UCBs has been raised to 25 per cent of their total loans and advances, from the earlier limit of 10 per cent.

To improve governance continuity, amendments to the Banking Regulation Act have increased the maximum tenure of directors of cooperative banks from eight years to ten years, allowing experienced boards to provide longer-term oversight.

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To promote digital payments and financial inclusion, the licensing fee for onboarding cooperative banks to the Aadhaar Enabled Payment System (AePS) has been reduced, lowering entry barriers for smaller institutions.

The government has also strengthened institutional support for cooperative banks through the creation of new entities. The National Urban Co-operative Finance and Development Corporation Limited (NUCFDC) was established as a non-deposit-taking, non-banking financial company to serve as an umbrella organisation for UCBs, providing information technology infrastructure and operational support.

For rural institutions, a Shared Services Entity (SSE) named Sahakar Sarthi has been established to deliver common technological services to Rural Cooperative Banks, improving efficiency and reducing operational costs.

Further strengthening customer protection, Rural Cooperative Banks have been brought under the RBI’s Integrated Ombudsman Scheme, providing customers with access to a unified grievance redressal mechanism.

On deposit safety, the Deposit Insurance and Credit Guarantee Corporation (DICGC) continues to insure deposits of all cooperative banks up to Rs 5 lakh per depositor per bank, including both principal and interest, providing enhanced confidence to depositors.

Recently, it was also announced that loans sanctioned by banks to the National Cooperative Development Corporation (NCDC), as of January 19, 2026, for on-lending to cooperative societies, are eligible for classification as priority sector lending under the respective categories.

 



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