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BusinessPhoto: News18 Business

Tax Rules on Diwali Cash Gifts from Family and Friends

During Diwali, cash gifts are commonly exchanged among family, friends, colleagues, and neighbors. Under the Income-tax Act, 2025, cash gifts from specified relatives are tax-exempt regardless of amount. However, gifts from non-relatives like friends or colleagues are taxable if their total exceeds Rs 50,000 in a tax year. CA Suresh Surana highlighted that tax depends on gift value and donor-recipient relationship.

News18 Business·

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SportsPhoto: Firstpost Sports

Ballon d'Or 2026 Ceremony Moves to London for 70th Anniversary

The 2026 Ballon d'Or ceremony will be held in London instead of its traditional Paris venue for the first time in 70 years. This one-off move honors the award's 70th anniversary and pays tribute to Sir Stanley Matthews, the first-ever winner in 1956. The decision reflects the wide-open competition among elite football players this year, with no clear favorite emerging.

Firstpost Sports··London

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PoliticsPhoto: HT World

Trump Insults Norway Over Nobel Peace Prize Snub

US President Donald Trump verbally attacked Norway, calling it a "sh*t house country" during a Michigan rally before the midterm elections. He linked his insults to the Nobel Committee's decision not to award him the Nobel Peace Prize and said Norwegian immigrants were unwelcome in the US. Norway's foreign minister emphasized the Nobel Committee's independence in response.

HT World··Michigan

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BusinessPhoto: Mint Markets

Supreme Industries Declares ₹12 Interim Dividend, Stock Falls 4%

Supreme Industries declared an interim dividend of ₹12 per share, a 600% payout, during its Q2 results announcement on October 26, 2026. The dividend applies to 127,026,870 equity shares of ₹2 each. The company fixed the dividend record date as Friday, October 30, 2026. Despite the dividend announcement, the stock closed 4% lower at ₹3,250 on Monday.

Mint Markets·

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BusinessPhoto: News18Hi Business

Government Considers Merger of Power Sector Giants PFC and REC

The government is considering the merger of two major power sector companies, PFC and REC. The proposal has reached the Finance Ministry and will be presented to the Cabinet after the Finance Minister's approval. The government plans to retain at least 51% stake through preference shares post-merger.

News18Hi Business·

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PoliticsPhoto: News18

Kashmiri Pandit Activist Arrested in Haryana for Threat Posters

Rakesh Handoo, a Kashmiri Pandit activist aged around 60, was arrested on October 17 in Faridabad, Haryana, by Baramulla Police in a cyberterrorism case. He is accused of circulating threat-related posters on social media platform X. An FIR was registered under Sections 66F and 84C of the Information Technology Act, covering cyberterrorism and attempted offences. The case involves alleged links to groups named Soldier of Resistance and United Liberation Council.

News18··Faridabad

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