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Stock name: Ramkrishna Forgings Ltd.

Pattern: Head and shoulders pattern and retest

Time frame: Daily

Observation:

The stock rose until June 2024, then stabilized, forming a head and shoulders pattern on its daily chart. It broke out of this pattern on July 18, 2024, moving downward afterward. Currently, the stock is retesting the breakout level, with its RSI still considered high. According to technical analysis, if the stock completes the retest and gains downward momentum, it may further decline.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: Syngene International Ltd.

Pattern: Double bottom pattern and retest

Time frame: Daily

Observation:

The stock experienced a decline starting in September 2023, then stabilized, forming a double bottom pattern on its daily chart. It broke out of this pattern on July 16, 2024, followed by a slight upward move. Currently, the stock is retesting the breakout level, which has brought the RSI to a favourable zone. According to technical analysis, if the stock rebounds from this retest, it may continue further upward movement.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

• Indian banks are increasingly using short-term borrowing through certificates of deposit (CDs) to address a funding gap caused by strong loan growth and slower deposit accumulation. Outstanding CDs reached 4.3 trillion rupees ($51.4 billion) by July 12, the highest since June 2012. Loans grew 17.4% annually through June 28, outpacing 11% deposit growth. Governor Shaktikanta Das warned that this raises banks’ sensitivity to interest-rate changes. Despite raising deposit rates, banks struggle to attract deposits and may face higher net interest margins due to costlier CD funding.
  
  
• The Economic Survey 2023-24 states that coal will remain central to India's energy system for the next two decades, with its phase-down reliant on importing critical minerals for clean energy. Emphasizing carbon capture technologies, it advocates coal gasification to cut imports and emissions. Coal fuels 70% of India's electricity and is vital for industries like steel and cement. The survey highlights initiatives like coal gasification, methane extraction, and adopting advanced technologies to lower emissions and improve efficiency.
  
  
• Indian Oil Corp plans to triple natural gas sales and expand renewable energy capacity to 31 GW by 2030. The company also aims to build 5 GWh of lithium-ion battery-making capacity by 2031, including a strategic agreement with Japan's Panasonic Energy to explore battery manufacturing opportunities in India.

Stock name: Garden Reach Shipbuilders & Engineers Ltd.

Pattern: Flag and pole pattern

Time frame: Daily

Observation:

The stock saw a sharp upward movement in late June 2024. In July, it is consolidating and correcting with range-bound movement, forming a flag and pole pattern on its daily chart. The stock has not yet broken out from this pattern. This consolidation has lowered the RSI from the overbought zone to a favourable level. According to technical analysis, if the stock breaks out upward from this pattern, it may continue to rise.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: India Cements Ltd.

Pattern: Rounding bottom pattern

Time frame: Monthly

Observation:

Since December 2007, the stock experienced a decline but recovered post-COVID, forming a rounding bottom pattern on its monthly chart. It is now trading above the December 2007 levels and the breakout line. However, the July month's candle has not yet closed to confirm the breakout. The stock recently showed a bullish MACD indicator, and its RSI level is high. Technical analysis suggests that if the breakout is confirmed, the stock may continue to rise.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

• JSW Infrastructure, India's second-largest port operator, plans to build green hydrogen and ammonia plants at its ports, including Vizhinjam, Kandla, Paradip, and Tuticorin. The company aims for 10-12% growth, new acquisitions, and developments at Jaigarh port and an LPG terminal by 2025. JSW Energy is focusing on the green sector to enhance connectivity and customer loyalty. Joint managing director Arun Maheshwari confirmed they are exploring opportunities in the emerging green hydrogen market.
  
  
• Suzuki predicts India's car market will grow fivefold to 20 million units by 2047, driven by electric vehicles (EVs). Aiming for a 50% market share by 2030, Suzuki plans to introduce its first EV in India and Europe next year. The company is developing new battery technology for everyday use models and sees potential in compressed natural gas cars. Collaboration with Toyota is expected to enhance product development. Suzuki's focus on India’s expanding middle class and environmental needs supports its long-term growth strategy.
  
  
• HDFC Bank's MD, Sashidhar Jagdishan, expressed disappointment over deposit growth for the June quarter, citing unexpected current account outflows. Although deposits grew 24.4% YoY to Rs 23.79 lakh crore, gross advances surged 52.6%, raising regulatory concerns about the credit-deposit imbalance. The bank plans to slow down advance growth and reduce the credit-deposit ratio to address these issues.

Managing your finances effectively is crucial, especially when it comes to taxes. One aspect that can significantly impact your tax liability is how you handle losses. The Income Tax Act provides provisions for setting off and carrying forward losses, ensuring that taxpayers can optimize their tax liability over multiple years. In this blog, we’ll explore these concepts in detail.

What is Set Off of Losses?

Set off of losses refers to adjusting the loss incurred in one source of income against the profit earned from another source within the same financial year. The Income Tax Act categorizes income into different heads, such as:

1. Income from Salary
2. Income from House Property
3. Profits and Gains from Business or Profession
4. Capital Gains
5. Income from Other Sources

Income tax allows losses to be set off against income from these heads under certain conditions.

Inter-head and Intra-head Set Off

Intra-head Set Off: Losses from one source of income can be set off against income from another source under the same head. For example, a loss from one business can be set off against profit from another business.

Inter-head Set Off: If after intra-head set off, there is still some loss remaining, it can be set off against income from another head. However, there are restrictions. For instance, losses from capital gains can only be set off against capital gains.

Rules for Set Off

Income from House Property: Loss from house property can be set off against any other head of income.

Business Loss: Non-speculative business loss can be set off against any income except salary income.

Speculative Business Loss: Can only be set off against speculative business income.

Capital Loss: Long-term capital loss can be set off only against long-term capital gains. Short-term capital loss can be set off against both short-term and long-term capital gains.

Loss from Other Sources: Loss from other sources can generally be set off against income from other sources, except losses from activities such as lotteries, cryptos or racehorses, which have specific restrictions.

What is Carry Forward of Losses?

If losses cannot be fully set off in the current year, they can be carried forward to subsequent years, subject to certain conditions.

Rules for Carry Forward

1. Filing a Return: To carry forward losses, the taxpayer must file their income tax return within the due date.
2. House Property Loss: Can be carried forward for 8 years and set off against income from house property.
3. Business Loss: Non-speculative business loss can be carried forward for 8 years and set off against business income.
4. Speculative Business Loss: Can be carried forward for 4 years and set off against speculative business income.
5. Capital Loss: Long-term capital loss can be carried forward for 8 years to be set off against long-term capital gains. Short-term capital loss can also be carried forward for 8 years and set off against any capital gains.
6. Loss from Other Sources: Losses from other sources (like owning and maintaining racehorses) can be carried forward for 4 years and set off only against income from such activities.

Example of Set Off and Carry Forward

Example: Mr. A's Capital Gains from Equity Shares (Long Term) for Year 1

Capital Gain: Mr. A has a long-term capital gain of ₹100,000.

Tax Calculation: Since the gain is within the ₹100,000 exemption limit under Section 112A, Mr. A pays zero tax.

Strategy: By strategically selling core holdings up to ₹100,000, Mr. A can ensure that his long-term capital gains are tax-free.

Example Scenario for Year 2:

Capital Gains and Losses:

Long-Term Gain: ₹150,000

Short-Term Loss: ₹50,000

Net Taxable Gain:

After offsetting the short-term loss, the net taxable capital gain is ₹100,000.

Tax Calculation: Since the net gain is ₹100,000, it falls under the exemption limit of Section 112A, resulting in zero tax for the year.

Investment Strategy: After booking the losses, Mr. A can reinvest the capital into fixed income-bearing securities to generate additional returns. This approach not only ensures tax efficiency but also helps in earning returns on the reinvested capital.

Time Value of Money:

Earning Returns: By booking the losses and reinvesting the capital into fixed income securities, Mr. A earns returns on the same money rather than holding onto a loss-making investment.

Generating Alpha: This strategy generates alpha over the capital by making returns on the reinvested funds, thereby enhancing the overall portfolio performance.

Summary:

By utilizing Section 112A effectively, Mr. A can plan and save tax on gains up to ₹100,000 each year. This strategy involves:

Booking Gains: Selling core holdings up to the ₹100,000 exemption limit.

Offsetting Losses: Using short-term losses to reduce the taxable gain.

Reinvesting: Parking the capital in fixed income-bearing securities to earn returns and optimize the portfolio performance.

In this way, Mr. A can make use of tax exemptions and the time value of money to enhance returns and maintain a tax-efficient investment strategy.

Conclusion

Understanding the provisions for setting off and carrying forward losses can significantly reduce your tax burden as well as give you more cash in hand to invest and earn returns. It’s essential to keep accurate records and file your tax returns timely to take full advantage of these benefits. Consulting with a tax professional can also help in effectively managing your tax liabilities and planning for the future.

Stock name: Graphite India Ltd.

Pattern: Head and shoulders pattern

Time frame: Daily

Observation:

Since March 2023, the stock has experienced an upward trend. However, a head and shoulders pattern has formed on the daily chart between January and July 2024. Currently the stock has yet to breakout from the pattern and therefore, the breakout line from this pattern could serve as support. The stock's RSI is currently very low. According to technical analysis, if the stock falls below the breakout line, it may decline further.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: MphasiS Ltd.

Pattern: Cup and handle pattern

Time frame: Weekly

Observation:

The stock has formed a cup and handle pattern on its weekly chart from April 2022 to July 2024. Currently, it is positioned above the breakout line on the last day of the weekly candle. A recent bullish MACD indicator and a favourable RSI level support its potential. If the stock closes above the breakout line this week, technical analysis suggests it may continue to rise.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

• HDFC Bank's merger with HDFC Limited has brought significant benefits, says Chairman Atanu Chakraborty. The integration has expanded home loan offerings and strengthened risk management. Both HDFC Bank and the Indian economy showed resilience amid global uncertainties, with India's GDP growing 8.2% last year and projected at 7.2% this year. The merger leverages the combined strengths of both entities, enhancing customer services and business operations.
  
  
• Bharti Airtel has secured a multi-year contract with the Central Board of Direct Taxes (CBDT) to be the network and connectivity partner for the income tax department. The partnership includes dual connectivity using Software Defined Networks for WAN, Secure LAN, and other solutions under the Taxnet-2.0 program, aiming to modernize tax systems. Financial details were not disclosed. The contract was formalized at a signing event attended by Airtel Chairman Sunil Mittal and CBDT Chairman Ravi Agarwal.
  
  
• UK-based Vedanta Resources, parent company of India's Vedanta, has paid $245.75 million to revive operations at Zambia's Konkola Copper Mines (KCM). This payment is part of a deal to regain control of the mines, which were seized by the Zambian government in 2019 due to alleged underinvestment. Vedanta regained control in November 2023 after a five-year legal battle. The company plans to raise an additional $1 billion to fully revive KCM's operations and develop the Konkola deep mining project. The Zambian government retains a 20% stake in KCM.

Stock name: Motilal Oswal Financial Services Ltd.

Pattern: Double top pattern

Time frame: Daily

Observation:

The stock has experienced significant upward movement since March 2023. Recently, it formed a double top pattern on its daily chart. Currently the stock is yet to breakout from this pattern therefore this line is acting as a support line. Presently, the stock's RSI level is very low. According to technical analysis, if the stock moves downward past the breakout line, it may continue to decline further.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: Lupin Ltd.

Pattern: Flag and pole pattern

Time frame: Weekly

Observation:

The stock has been on an upward trend since April 2023 and consolidated from March to July 2024, forming a flag and pole pattern on its weekly chart. It broke out of this pattern in early July 2024, supported by high trading volume and a bullish MACD indicator. Technical analysis suggests that if the breakout momentum continues, the stock may move further upwards.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

• Mazagon Dock Shipbuilders (MDL) and Garden Reach Shipbuilders (GRSE) are frontrunners for the Defence Ministry's ₹70,000 crore warship order under Project 17B. This order will enhance MDL's Kalvari class submarines and Project 15B destroyers, and GRSE's patrol vessels and exports. The two yards, already working on Nilgiri class frigates under Project 17A, are expected to split the order for faster delivery. The advanced stealth frigates will include Brahmos missiles, anti-submarine weapons, and indigenous electronic warfare systems.
• The Asian Development Bank (ADB) has approved a $240.5 million loan to support rooftop solar systems in India, focusing on residential installations. The loan will be distributed through the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD). This initiative aligns with India's goal to achieve 50% of its power from non-fossil fuel sources by 2030 and supports the Prime Minister's Surya Ghar program for rooftop solar adoption.
  
  
• DLF is expanding its housing and commercial property business into Mumbai and Goa while continuing projects in Delhi-NCR, according to Chairman Rajiv Singh. The company saw record sales of ₹15,058 crore in FY 2022-23 and ₹14,778 crore in FY 2023-24, targeting ₹17,000 crore for FY 2024-25. The commercial segment is performing well with high occupancy rates.

Stock name: EPL Ltd.

Pattern: Double bottom pattern

Time frame: Monthly

Observation:

The stock experienced a downward movement starting in August 2020 and later formed a double bottom pattern on its monthly chart. In July 2021, it saw a rapid upward movement and is now above the breakout line, although the breakout isn't confirmed until the candle completes. The stock has shown a bullish indicator on its MACD chart with high trading volume, and its RSI level is in a good zone. According to technical analysis, if the stock maintains its current momentum, it may continue to move upwards.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: Blue Dart Express Ltd.

Pattern: Triple bottom pattern

Time frame: Weekly

Observation:

The stock experienced a downward movement from October 2022 and later formed a triple bottom pattern on its weekly chart. It broke out from this pattern in June 2024 with above-average trading volume and has since moved continuously upward. However, the RSI is now in the overbought zone, indicating a possible retest. According to technical analysis, if the stock maintains its current momentum, it may continue to rise further.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

• Adani Group expects its ports business to double in volume within five years, driven by strong growth in India's export and import demand. The ports segment saw revenue increase to Rs 20,972 crore in FY24 from Rs 17,304 crore the previous year. Karan Adani, managing director of Adani Ports and SEZ, noted that the logistics segment also grew, but at a slower pace. The company aims to handle 1 billion tonnes of cargo by 2030, with 90% from Indian ports and 10% from international operations. Adani Ports plans for organic growth at existing ports and will consider acquisitions and PPP projects for expansion.
  
  
• Varun Beverages Ltd (VBL), PepsiCo's bottling franchise partner, plans to invest $7 million to establish manufacturing units in Zimbabwe and Zambia. These units will produce, distribute, and sell Simba Munchiez snacks in the respective territories. VBL's subsidiaries, VFZ Varun Foods (Zimbabwe) and Varun Beverages (Zambia), will handle the operations. The investment aims to create an annual capacity of 5,000 MT for manufacturing Simba Munchiez at each location.
  
  
• Ashok Leyland has secured a Rs 981.45 crore order from Maharashtra State Road Transport Corporation (MSRTC) for 2,104 Viking buses, compliant with BSVI OBD II standards. The order will be fulfilled between August 2024 and August 2025, further strengthening Ashok Leyland's market position. This deal makes Ashok Leyland the dominant bus supplier in MSRTC's fleet of over 15,000 buses. Shenu Agarwal, Managing Director & CEO, highlighted the company's commitment to efficient and advanced public transportation solutions.

Stock name: Usha Martin Ltd.

Pattern: Double top pattern

Time frame: Daily

Observation:

Since March 2024, the stock has experienced a rapid upward movement. Recently, from June 2024, it formed a double top pattern on its daily chart but has not yet broken out. The breakout line of this pattern may act as a support line. The RSI level has dropped below 50, indicating weakening momentum. If the stock breaks down from the pattern with strong momentum, it may decline further according to technical analysis.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: Clean Science and Technology Ltd.

Pattern: Cup and handle pattern and retest

Time frame: Daily

Observation:

The stock has been following a sideways trend. From February 2024 to July 2024, it formed a cup and handle pattern on its daily chart and broke out from the pattern on July 2, 2024, supported by huge trading volume. After the breakout, the stock experienced a strong retest. Currently, the RSI level is still above 50. According to technical analysis, if the stock rebounds from the retest, it may continue to move upwards.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

• State Bank of India (SBI) has raised its MCLR by 5 to 10 basis points for tenures from one month to three years, effective July 15. The new rates range from 8.35% for one month to 9% for three years. This is the second consecutive hike after a 10-basis point increase in June. MCLR primarily impacts corporate loans, while retail loans are generally linked to the unchanged RBI repo rate since February 2023.
  
  
• Tata Power has invested Rs 4,245 crore in infrastructure expansion and network upgrades in Odisha over the past 3-4 years. Operating four joint ventures with the Odisha government, they serve over 9 million customers. The investment includes Rs 1,232 crore through government-backed schemes, which funded the laying of 33 KV lines and the addition of 30,230 distribution transformers. These upgrades have improved power reliability and reduced transmission losses, with urban areas now receiving an average of 23.68 hours of power daily.
  
  
• The Federation of Pharma Entrepreneurs (FoPE) has requested a 10-year exemption from price controls for patented and low-cost drugs priced up to ₹5 per unit. They also seek adjustments to the Drug Price Control Order (DPCO) and a reduction in the 12% GST due to rising ingredient costs. Supported by the Indian Pharmaceutical Alliance (IPA), FoPE highlighted that current price controls are driving research overseas and causing financial strains.

This form of organisation i,e The Hindu Undivided Family (HUF) is something which is not very commonly found across the globe and portrays the traditional Indian cultural values of the joint system of family.

Now, if we consider HUF only from an Income tax lens, it is considered as a separate entity and has its own PAN. Today, our focus is on understanding the intricacies of the Hindu Undivided Family (HUF) and its tax benefits and how it can provide significant financial advantages for eligible families. This blog will delve into the concept of HUF, its formation, and the myriad of tax benefits it offers under the Indian Income Tax Act.

What is a Hindu Undivided Family (HUF)?

A Hindu Undivided Family (HUF) is a distinct legal entity created under Hindu law, comprising individuals who are direct descendants of a common ancestor. This includes their spouses and unmarried daughters. The term "Hindu" in this context also extends to Buddhists, Jains, and Sikhs.

Key Features of HUF as per Income Tax perspective:

Formation:

An HUF is formed automatically under the Hindu Succession Act at the time of marriage. However, under Income tax, you can form a HUF only when you are married and have a kid (son / daughter).

You should prepare a deed on stamp paper declaring the formation of the HUF. It should have all the details, including the name of karta, co-parceners, address and source of funds in the corpus.

Once the declaration deed is made, the karta should apply for a permanent account number (PAN) for the HUF.

Karta:

The senior-most male member of the family, known as the 'Karta,' manages the HUF.

Members:

All other family members are known as 'coparceners,' who have the right to demand partition of the HUF.

Assets: HUF can own assets including ancestral property, gifts received by family members, and property acquired from the joint family income.

Tax Benefits of an HUF

HUFs enjoy various tax benefits under the Income Tax Act, making them an attractive option for families looking to optimize their tax liabilities.

• Separate Tax Entity
  • An HUF is considered a separate entity for tax purposes, distinct from its members. This means the HUF can file its own tax returns and claim deductions independently. This will also mean that, it will get benefit of the basic exemption limit from tax which is enjoyed by individuals

How can you plan to save taxes via use of HUF?

1. Say, you invest in the equity market in your own name, now if you gift money into the HUF and invest that same money into equity markets via HUF, you will essentially get INR 250,000 worth of LTCG tax free (Additional 150,000 from what you get as an individual)
2. Also, the dividend which you will receive will also be taxed in the hands of HUF and most probably at a lower rate of tax

• Wealth Management and Succession

HUFs provide a structured way to manage family wealth and ensure smooth succession. By holding assets in the name of the HUF, families can avoid disputes and ensure orderly distribution of wealth across generations.

• Responsibilities and Compliance

While HUFs offer significant benefits, they also come with responsibilities:

1. Maintain Proper Records: Accurate records of HUF transactions and income are essential.
2. File Annual Returns: HUFs must file their income tax returns annually, just like individuals.
3. Compliance: Adherence to relevant laws concerning investments, property transactions, and income reporting is mandatory.

Conclusion

The Hindu Undivided Family (HUF) structure provides substantial tax benefits and effective wealth management solutions. By understanding the provisions related to HUFs under the Income Tax Act, families can enhance their financial planning and achieve considerable tax savings. However, it is crucial to comply with legal requirements and consult with a tax advisor to maximize the benefits and ensure proper management of the HUF. While a member of the HUF is transacting with the HUF, he needs to take care of the clubbing provisions which could be attracted.

Incorporating an HUF into your financial strategy can be a prudent step towards optimized tax savings and structured wealth management, offering long-term benefits for the entire family.

FAQs

Q: What is the income tax rate for HUF?

The current income tax rates for HUFs, whether resident or non-resident, are as follows:

Q: What is the tax exemption limit for HUF?

The tax exemption limit for HUFs is up to Rs 2.5 lakh (in the old tax regime) and up to Rs 3 lakh (in the new tax regime).

Post Script - The rebate available for individuals is not available for HUF, meaning that when you say that an individual filing his return under the new tax regime will have no tax implication if his income is upto INR 7 lakhs, in case of HUF that amount will only be INR 3 lakhs.

Stock name: AIA Engineering Ltd.

Pattern: Double bottom pattern retest

Time frame: Daily

Observation:

Since February, the stock experienced a sudden decline, then stabilized, forming a double bottom pattern on its daily chart. It broke out from the pattern on June 18, 2024, but a high RSI value caused a retest of the breakout level. The stock successfully rebounded and is now moving upwards. According to technical analysis, if it maintains the current momentum, it may continue to rise.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: Oil & Natural Gas Corporation Ltd.

Pattern: Rounding bottom pattern

Time frame: Monthly

Observation:

The stock has formed a rounding bottom pattern on its monthly chart since 2014 and is currently above the breakout line. This month's candle is still forming, making it crucial to see if the stock can sustain its breakout position upon completion. The RSI indicates an overbought zone, which might cause a retest at the breakout level. If the stock maintains momentum and trading volume, technical analysis suggests it may move higher.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

• REC Limited has raised 31.96 billion Japanese Yen ($200 million) through a 5-year green loan from Deutsche Bank's Gift City branch to finance green projects in India. This transaction aligns with REC's commitment to green energy financing. It marks one of the first yen-denominated green loans by Deutsche Bank's Gift City branch.
  
  
• The Indian car industry’s shift to an all-electric future may include hybrids, as Uttar Pradesh waives registration fees for hybrid and plug-in vehicles. Hybrid car sales are increasing, closing the gap with EVs. Automakers are divided: Maruti Suzuki and Toyota support tax cuts for hybrids, while Tata Motors and Hyundai oppose them, favouring direct EV incentives. This debate will influence India's green mobility path.
  
  
• IRCTC, DMRC, and CRIS have launched the 'One India - One Ticket' initiative to improve travel convenience for Main Line Railway and Metro passengers in Delhi NCR. This initiative allows passengers to book Delhi Metro QR Code-based tickets through the IRCTC website and mobile app up to 120 days in advance, synchronized with Indian Railways' reservation system. The tickets are valid for four days, enhancing flexibility and integration in travel planning. This collaboration aims to streamline the travel experience and reduce wait times for passengers at metro stations.