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Union Budget 2024: IT Company Buybacks Likely to Lose Appeal
Buybacks from IT companies will be less attractive after the Budget 2023-24 announcement, which taxes buyback income as dividends for investors. This change increases compliance burdens and potential taxes, making buybacks less appealing. The new taxation scheme starts on October 1, 2024.
Swiggy and Zomato Hike Platform Fee to ₹6, Aiming for Higher Profits
Swiggy and Zomato have increased platform fees to ₹6 per order, up from ₹5, in Bengaluru and Delhi to boost profitability. This applies to all orders, including loyalty programs. The hike could add ₹1.25-1.5 crore daily income. Nationwide rollout is expected, excluding quick commerce services Instamart and Blinkit.
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