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Nifty closed with modest losses, after showing smart recovery in last half an hour of trade – led by FMCG, auto, select telecom and technology companies’ shares.
The rupee slipped to its lowest level in more than a month on Tuesday, weighed by losses in local shares and other Asian peers. Growth data due around 11 am is expected to set the trend.
Under the Direct Taxes Code Bill, 2010 tabled in the Lok Sabha by Finance Minister Pranab Mukherjee and referred to the Select Committee of Parliament for scrutiny, the government has sought to raise the income tax exemption limit from Rs 1.6 lakh to Rs 2 lakh while retaining a host of incentives for individuals.
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