As an organization dedicated to supporting the dream of an Atmanirbhar Bharat in natural resources, Vedanta’s demerger will create sector-focused entities, aligned with India’s global leadership goals in critical minerals, energy security as well as renewables and technology sectors. The demerger will help in simplifying Vedanta’s corporate structure by creating independent businesses and will offer global investors direct investment opportunities in pure-play companies linked to India’s impressive growth.

Earlier this month, at Vedanta’s Annual General Meeting, Anil Agarwal, Chairman, Vedanta Ltd. had said, “Demerger of our businesses will lead to the creation of 6 strong companies, each a Vedanta in its own right. This will unlock massive value. Each demerged entity will chart its course but will follow Vedanta’s core values, its enterprising spirit, and global leadership.”

Vedanta’s existing businesses will be structured in the following six independent companies after the demerger:

• Vedanta Aluminium
• Vedanta Oil & Gas
• Vedanta Power
• Vedanta Steel and Ferrous Materials
• Vedanta Base Metals
• Vedanta Limited

The demerger is planned to be a simple vertical split, for every 1 share of Vedanta Limited, the shareholders will additionally receive 1 share of each of the 5 newly listed companies.

Vedanta has a track record of giving strong returns to its shareholders. As of 30 June’24, Vedanta’s total shareholder return over 5 years stood at 276%, while the 5-year average accumulated dividend yield at 65%, delivering significant value for shareholders.

Currently, Vedanta is the Indian subcontinent’s only diversified natural resources company. It has invested over $35 billion in India and is making rapid expansion efforts through 50 strategic growth projects. Vedanta has a unique portfolio of assets among Indian and global companies. It is the sole producer of zinc and silver in India – and amongst the largest in the world. It is India’s largest producer of aluminum and largest private sector producer of oil, along with being one of India’s largest generators of power and purchasers of renewable energy. Also the sole producer of Nickel in India, Vedanta houses various key metals and minerals in its portfolio including chromium, copper, and a traditional ferrous vertical including iron ore and steel.

The post Vedanta Ltd. Gains Approval From 75% Of Secured Creditors For Demerger Scheme Filing appeared first on NRI News.

INDIA: As tax season approaches, Alts Wealth and ClearTax proudly announce a partnership, offering tailored wealth management and tax filing services for India’s salary-earning segment. This collaboration isn’t just about providing services; it’s about revolutionizing financial stewardship for discerning individuals, precisely when they need it most. Most Indians do not plan their taxes before the end of the financial year leading to significant increases in their tax cost. The tax planning needs to be executed before March 31 to avail of benefits.

The partnership between Alts Wealth, a commission-free, fee-only wealth advisor for nonHNI Indians, and ClearTax, a pioneer in tax solutions, comes at the perfect moment to ensure a seamless and rewarding tax season for Alts Wealth clients. Alts Wealth’s paying subscribers will now enjoy free income tax return filing through the Alts Wealth app, which leverages ClearTax’s technology. This exclusive offer aims to combine wealth management and tax obligations with ease, accuracy, and top-notch security.

Alts Wealth clients will experience unparalleled financial convenience. By integrating ClearTax’s user-friendly, secure tax filing platform with Alts Wealth’s comprehensive suite of services, including portfolio management, financial planning, tax planning, and insurance planning, their clients can now access a one-stop solution for all their financial needs.

“Partnering with ClearTax at the onset of tax season enhances its value greatly for our clients,” says Abhishek Rao, Founder of Alts Wealth. “This collaboration isn’t just about services; it’s a shift in how we approach financial management and tax planning, providing our clients with a seamless blend of services rarely seen before.”

“At ClearTax, we relentlessly rely on the power of simplification. ClearTax’s reputation for intuitive and robust tax filing solutions is a testament to the fact that we continuously strive to make tax filing simple for millions of taxpayers in India. With this collaboration, Alts Wealth clients are well-positioned to leverage this opportunity as a pivotal moment in their financial journey and further equip themselves with the tools and resources they need to achieve their financial goals efficiently.” said Avinash Polepally, Senior Director of Consumer Business Head) at ClearTax.

The post Alts Wealth Partners With ClearTax In A Timely Collaboration To Simplify Tax Filing For Affluent Indians appeared first on NRI News.

The collaboration between WazirX and TaxNodes has embarked on a mission to simplify the lives of Indian crypto investors, providing them with a precise and hassle-free process to fulfill their tax obligations. The partnership has extended its reach to encompass more than 1,000 Indian cities, ensuring that investors from every corner of India can confidently manage their tax responsibilities.

On average, users reported saving a remarkable 8 hours in crypto tax computation and income tax return filing by leveraging TaxNodes’ user-friendly platform provided through this collaboration. Users could effortlessly upload their transactions and receive their Scheduled VDA tax reports in less than 30 minutes.

Impressively, TaxNodes has secured an exceptional 4.8-star Google rating in its debut year, primarily driven by strong user satisfaction and feedback. This rating reflects the significant positive influence the partnership between WazirX and TaxNodes has had on enhancing the overall tax filing experience.

WazirX and TaxNodes conducted a series of informative sessions, webinars, and contests, and published educational blogs. These initiatives greatly enriched participants’ understanding of crypto taxation, making knowledge accessible to investors across India.

Reflecting on this transformational partnership, Rajagopal Menon, VP at WazirX, emphasized, “Our partnership with TaxNodes underscores our unwavering commitment to the Indian crypto community. As we guide investors through the complexities of tax regulations, it exemplifies our genuine dedication to ensuring their successful financial journey.“

Avinash Shekhar, Founder of TaxNodes, added, “We are proud that this partnership has been a huge success. Together, we have helped Indian crypto investors calculate, evaluate, and file their taxes accurately. We have also provided them with expert advice and personalized services to help them trade crypto freely without worrying about the intricacies of tax filing. This partnership has promoted compliance and eased regulatory uncertainties, thus fostering the growth of the Indian crypto market.“

For revised and belated returns, WazirX and TaxNodes remain steadfast in simplifying crypto tax compliance for the Indian crypto community. The partnership’s significance lies in the lasting boost to investors’ confidence and understanding of tax regulations. This partnership stands as a testament to WazirX and TaxNodes’ unflagging dedication to serving the dynamic requirements of Indian crypto investors, promoting compliance, and ensuring financial empowerment.

WazirX is India’s leading crypto exchange, providing a platform for users to buy, sell, and trade various cryptocurrencies, including Bitcoin, Ether, Litecoin, and more. With over 15 million users, WazirX is India’s largest crypto exchange by volume. Founded by Nischal Shetty, Siddharth Menon, and Sameer Mhatre, WazirX is committed to making crypto accessible to every Indian.

TaxNodes is a crypto tax platform dedicated to simplifying tax computation in India. Founded in December 2022 by seasoned finance executive Avinash Shekhar, TaxNodes aims to revolutionize the way crypto profitability, taxation, and reporting are handled for retail investors and exchanges alike.

In conclusion, the collaboration between WazirX and TaxNodes has brought about a significant transformation in Indian crypto tax filings. The partnership has simplified the process for investors, promoting compliance and easing regulatory uncertainties, thus fostering the growth of the Indian crypto market.

The post WazirX Collaborates with TaxNodes to Simplify Crypto Tax Filings appeared first on NRI News.