Business

Centre Awards Tax Benefit Status to IREDA Bonds

Published

11 months ago

July 11, 2025

The Central Board of Direct Taxes (CBDT) has designated bonds issued by the Indian Renewable Energy Development Agency Ltd (IREDA) as “long-term specified assets” under Section 54EC of the Income Tax Act, 1961. This notification became effective on July 9.

According to the announcement, bonds issued by IREDA that are redeemable after five years and released on or after the notification date will qualify for tax exemption benefits under Section 54EC. This section permits tax exemptions on capital gains derived from investments in specified bonds.

The funds raised through these bonds will be exclusively allocated for renewable energy projects, which can service debt through their project revenues without relying on state governments for support.

Investors eligible for these bonds can save on Long Term Capital Gains (LTCG) tax up to Rs 50 lakhs within a financial year. This development is anticipated to help IREDA by lowering its cost of funds, thus supporting the rapid growth of the renewable energy sector.

Pradip Kumar Das, Chairman & Managing Director of IREDA, expressed gratitude for the support from the Ministry of Finance and the Ministry of New & Renewable Energy, highlighting the importance of this policy initiative. He emphasized that the tax-exempt status of these bonds will not only provide an attractive investment opportunity but also enhance capital availability for green energy projects, aiding India’s goal of achieving 500 GW of non-fossil fuel capacity by 2030.

This initiative is expected to encourage more investors to participate by offering tax-saving options, further strengthening the renewable energy financing landscape in India.

Business

Opendoor Shuts Down India Operations, 250 Employees Affected

Published

1 day ago

June 11, 2026

Namma Kudla

Business: US-based real estate technology company Opendoor has decided to close its operations in India. The move will impact nearly 250 employees.

CEO Kaz Nejatian said the company is bringing operational roles closer to its customers in the United States. He explained that most of Opendoor’s customers are based in America.

The company said the decision is not related to the performance of its India team. Nejatian praised the employees for their hard work and contributions.

Affected workers will receive severance pay, job placement support, and other assistance. A small number of employees will stay temporarily to help with the transition.

Opendoor said it will continue focusing on simplifying operations and improving efficiency with new technology and AI.

Business

Domestic LPG Cylinder Price Increased by Rs 29

Published

5 days ago

June 7, 2026

Namma Kudla

New Delhi: The price of domestic LPG cooking gas cylinders has been increased by Rs 29 across India. This is the second price hike in the last three months.

The increase comes as global energy prices continue to rise due to the ongoing conflict in the Middle East.

After the revision, a domestic LPG cylinder now costs Rs 942 in Delhi, Rs 941.40 in Mumbai, Rs 968 in Kolkata, and Rs 957.50 in Chennai. In Bengaluru, the new price is Rs 944.50 per cylinder.

The government said the cost of supplying LPG has increased significantly. However, subsidies under the Pradhan Mantri Ujjwala Yojana continue to help over 10 crore beneficiaries.

Petrol, diesel, and CNG prices have also increased in recent weeks as global fuel markets remain volatile.

Business

Honda Begins Delivery of 2026 City Hybrid

Published

1 week ago

June 3, 2026

Namma Kudla

Business: Honda Cars India has started delivering the new 2026 Honda City Hybrid to customers. The first car was handed over at a dealership in Bengaluru.

Honda President and CEO Takashi Nakajima attended the special delivery event. Other senior company officials were also present.

The first customer received a Crystal Black Pearl Honda City Hybrid. The car was delivered with a symbolic key and a gift hamper.

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The updated City comes with new features such as ventilated front seats and a 360-degree camera. It also offers wireless Apple CarPlay, Android Auto, and a sunroof.

The sedan is available with petrol and strong-hybrid powertrain options. Honda claims the hybrid version delivers a mileage of 27.26 kmpl.

The Honda City competes with the Volkswagen Virtus, Skoda Slavia, and Hyundai Verna in India.