Union Minister Nitin Gadkari on Tuesday said the government’s aim is to make India’s automobile industry the number one in the world within the next five years.Launching a report prepared by The Express Industry Council of India (EICI) and KPMG, Gadkari said the outlook for the express industry is also promising.“The size of Indian automobile…
ITR filing: Taxpayers who miss the regular deadline for filing their income tax return get an additional chance through the updated income tax return (ITR-U) facility, introduced under Section 139(8A) of the Income Tax Act. This option allows individuals to correct errors, add omitted income, or rectify misreporting even after the due dates for belated…
The proposed revamp of the Goods and Services Tax (GST) into a two-tier structure with lower levies on household goods could lift consumption by Rs 1.98 lakh crore but also result in an estimated yearly revenue loss of Rs 85,000 crore, SBI Research said in a report released Tuesday.The Centre has put forward a ‘next-gen…
The LCA Mark 1A variant features superior avionics and radar systems. (File photo) The Indian Air Force (IAF) is all set to get a major ‘Make in India’ boost with the government has given its nod for the acquisition of 97 LCA Mark 1A fighter aircraft. The final clearance for procuring 97 LCA Mark 1A…
NEW DELHI: India’s youngest airline Akasa on Tuesday said it has completed funding transaction of about Rs 1,200 crore from new investors including Premji Invest, asset management firm 360 ONE Asset, and the investment office of Ranjan Pai. Existing investor Jhunjhunwala family has also infused additional capital into the airline that started flying three years…
US Treasury Secretary Scott Bessent on Tuesday said that interviews for Federal Reserve Chair Jerome Powell’s replacement are expected to start around September 1, with 11 candidates under consideration.President Donald Trump’s choice of the next Fed chief is being closely tracked, especially after his repeated criticism of the central bank for holding back on interest…
A parliamentary panel has pitched for raising India’s investment rate from 31% of GDP to 35% in order to sustain an ambitious annual growth target of 8% over the next decade. The Standing Committee on Finance, chaired by BJP leader Bhartruhari Mahtab, said a higher investment push, coupled with structural reforms and digital initiatives, is…
Wall Street stocks were mixed in early trade on Tuesday as major US retailers began reporting quarterly results, while investors awaited Federal Reserve Chair Jerome Powell’s policy remarks later this week.Around 15 minutes into trading, the Dow Jones Industrial Average gained 0.4% to 45,084.70. The broad-based S&P 500 was flat at 6,447.61, while the tech-heavy…
India-based corporates have limited direct exposure to US tariffs, but sectors such as pharmaceuticals that are currently unaffected could face risks if Washington announces further measures, Fitch Ratings has cautioned.The US has imposed a 25% “reciprocal” tariff on Indian goods from August 7, 2025, and an additional 25% levy will take effect on August 27,…
Many legacy instruments serve essential portfolio or risk-management roles, and discontinuing them may impair financial resilience or return optimization. (AI image) New income tax regime savings: The adoption of the new income tax regime has eliminated most deduction-linked incentives. However, evaluating investments purely on tax efficiency can be misleading. Many legacy instruments serve essential portfolio…
