Top News Podcast: Eknath Shinde to be new Maharashtra CM, 1% TDS on cryptocurrency from July 1 and more

Episode 271,  Jun 30, 01:40 PM

Eknath Shinde will take oath as the Maharashtra Chief Minister, announced Devendra Fadnavis on Thursday. He added that it was expected in 2019 that BJP and Shiv Sena together will form the government in Maharashtra.

“People's mandate was insulted and the government was formed with anti-Hindu parties. The last two and a half years of the MVA government were full of corrupt practices - We have the support of 16 independent MLAs also,” he said.

In this edition of Top News Podcast,’s Kanishka Sarkar shares the latest on Maharashtra political crisis, stock markets, cryptocurrencies, and more.

The market closed near the flatline amid volatility. Sensex slipped 8 points to 53,019 and Nifty50 was at 15,780. Reliance and banks lent support while IT and autos dragged Nifty50. The market has posted a fall of 10 percent in the second quarter of FY23 and this is the biggest Q2 fall since 2008.

Meanwhile, Finance Minister Nirmala Sitharaman, during the Union Budget 2022-23 in Parliament on February 1 introduced a 1 percent tax deducted at source (TDS) on the transfer of the virtual digital assets (VDAs) — or simply put crypto and Non Fungible Tokens (NFTs).

The TDS rule would come into force from July 1, i.e. Friday for transactions of more than Rs 10,000. The move comes after the imposition of a 30 percent flat income tax on cryptocurrencies from 1st April 2022.

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