Mining companies to pay tax to states from 2005 in a staggered manner, rules SC

A nine-judge constitution bench of the Supreme Court has delivered a crucial judgment on tax on mining companies, ruling that states can collect previous dues on royalty and tax on mineral bearing land from April 1, 2005. Supreme Court said the dues can be paid in a staggered instalments by mining companies and the Centre to mineral-rich states, spread over 12 years, starting April 1, 2026. However, interest and penalty on the past dues have been nullified in the ruling. Read here

Take a look at these key events

Today
India's 78th Independence Day
S Korea, N Korea, Congo, Liechtenstein, Bahrain, Japan to also celebrate their Independence Day
NSE and BSE to remain shut on account of Independence Day
Tamil Nadu Congress, Manithaneya Makkal Katchi to boycott Governor Ravi's Independence Day tea party
Tomorrow
Kolkata doctor rape-murder: Mamata Banerjee to lead protest rally
Foxconn chairman to visit Karnataka
Foxconn chief to meet Karnataka CM Siddaramaiah
Special drive to weed out fake GST registration begins
ISRO to launch SSIV-D3
India-Sri Lanka ferry service to resume
Amrit Udyan to open for public: Rashtrapati Bhavan

Consolidation likely to continue in Nifty 50 with support at 24,000 mark

The Nifty 50 remained lacklustre throughout the session despite positive global cues on August 14, closing flat with a positive bias. Traders seemed to have preferred to keep their positions light, leading to minimal changes in daily chart price action. The 24,000 level is expected to remain a crucial support for the Nifty 50 going forward, while on the higher side, 24,500 will be the key hurdle, according to experts. Read here

Independence Day Special | 6 money tips for women seeking financial freedom

Here are six nuggets of financial wisdom to help women take charge of your money affairs and achieve financial independence:

Lenovo launches Legion Tab, its first gaming tablet

Lenovo has announced its new gaming tablet – Legion Tab -- in India. The tablet is designed keeping gaming needs of users in mind. The tablet comes with features like Snapdragon 8+ Gen 1 chipset, Legion ColdFront vapour thermal solution, a 144Hz refresh rate display and more. Details about price, features and more here

Pharmeasy founder-backed Arisinfra Solutions files DRHP with SEBI for Rs 600-crore IPO

Arisinfra Solutions Limited has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise up to Rs 600 crore through an IPO, consisting entirely of a fresh issue of equity shares. The funds will be used for repaying or prepaying borrowings (Rs 204.60 crore), funding working capital (Rs 177 crore), investing in its subsidiary Buildmex-Infra (Rs 48 crore), purchasing shares in its subsidiary ArisUnitern Re Solutions (Rs 20.40 crore), and for general corporate purposes and potential acquisitions. Read more here

Bengaluru CEO shares job ad of momo stall offering Rs 3 LPA, while Cognizant settled for Rs 2.5 LPA

After reports of Cognizant offering jobs for Rs 2.5 lakh per annum (LPA) in a mass hiring drive began to do rounds, a Bengaluru-based startup founder and CEO has shared an ad put up by a momo stall for a helper with a promised salary of Rs 25,000 per month which amounts to Rs 3 LPA. Read here