The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
'The Bhashini Mission has delivered a working technology at large scale, which is as good as or better than the one with MNC tech giants.'
Workers from the BJP and Congress clashed in Patna during a protest march organized by the BJP against the use of abusive language towards Prime Minister Narendra Modi's late mother. The protest turned violent, with stone pelting and vandalism reported. Police intervened to control the situation, and an investigation is underway.
'Begin with a small investment, observe performance, then scale up gradually.'
India's tour of Bangladesh, which was scheduled for August this year, has been postponed to 2026 'owing to international cricketing commitments', the BCCI announced on Saturday.
In her letter to the Sona BLW board, Rani Kapur said documents executed by her at a time of "mental and emotional vulnerability" were being misused.
West Bengal Chief Minister Mamata Banerjee criticizes Delhi Police for referring to Bengali as 'Bangladeshi national language,' sparking political controversy.
A controversy erupted in West Bengal after a history question paper at the state-run Vidyasagar University described Indian revolutionaries as 'terrorists,' triggering strong political reactions and forcing the institute to issue a public apology, calling it a 'printing mistake.'
The status report claims that RCB organised a massive victory parade and celebration without prior permission or furnishing mandatory details to city authorities.
'Sandbagging' means a player deliberately losing his games, along with it his rating points, so as to play in a lower rated player tournaments and win cash prizes.
A special court in Chhattisgarh's Bilaspur district granted bail to three persons, including two nuns from Kerala, arrested on charges of human trafficking and forced religious conversion.
'We need to be very vigilant as we are passing through some fraught times.'
The three officials include a divisional vice president of the airline, as per the DGCA order.
'Who tried engine relight?' 'If the first officer was the one flying at takeoff, the captain may have taken control immediately post-thrust loss.' 'But the AAIB report doesn't clarify any of this.'
The Centre's fiscal deficit at the end of the eighth month of financial year 2024-25 touched 52.5 per cent of the full-year target, government data showed on Tuesday. In absolute terms, the fiscal deficit -- the gap between the government's expenditure and revenue -- was about Rs 8.47 lakh crore during the April-November period, according to the data released by the Controller General of Accounts (CGA).
In a heinous terror attack, two Indians were killed while one was abducted in the Dosso region of Niger, as noted by the Indian Embassy in Niger.
'India has gone some way to meeting its objectives because it has established a deterrent value that Pakistan will have to take into account when it plans future terrorist attacks.'
Many affluent young people are first-generation wealthy. They have limited financial literacy, lack quality financial guidance or role models, and often fall prey to mis-selling. This makes them hesitant to invest in high-return assets like equities.
The message from Sunday's event will undoubtedly reverberate globally. It's a landmark occasion that will be remembered for generations and will inspire many other states to introduce the story of Rajendra Chola into school curricula, says Tarun Vijay.
The Centre's fiscal deficit touched 74.5 per cent of the annual target at the end of January 2025, according to the data released by Controller General of Accounts (CGA) on Friday.
Various industry bodies have sought immediate government intervention through the imposition of anti-dumping duties, claiming India has seen a surge in imports of Chinese goods over the past two weeks.
Hundreds of people, including inconsolable family members and friends, gave an emotional farewell to First Officer Clive Kunder, co-pilot of the Air India plane that crashed in Ahmedabad last week, and flight attendant Roshni Songhare whose last rites were held on Thursday.
The Supreme Court has directed the Indian Air Force not to release Wing Commander Nikita Pandey from service. Pandey, who participated in Operation Balakot and Operation Sindoor, was denied a permanent commission despite being an expert fighter controller. The court raised concerns about the uncertainty faced by Short Service Commission (SSC) officers who are denied permanent commissions after years of service. The court emphasized the need for a system to accommodate all suitable SSC officers in permanent commissions, highlighting the excellent performance of women officers. The court has ordered the IAF to consider Pandey's case in a second selection board and has postponed the hearing to August 6.
'When there are glaring errors in the report, how can you trust anything in it?'
Two investigations were ordered after six patients died due to alleged negligence at the state-run Saheed Laxman Nayak Medical College and Hospital in Odisha's Koraput, officials said on Wednesday.
A higher TER means a larger portion of the return goes to the AMC, leaving less for the investor, unless compensated by higher returns.
Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) has surprised the street with a better than expected performance in its oil-to-chemicals (O2C) division in October-December 2024 (Q3FY25). RIL executives attributed it to favourable feedstock sourcing and higher volumes. However, they also listed cost optimisation and other measures.
The 17 rare earth elements that are at the centre of the current crisis are critical components of everyday products -- from cars to jet engines to electronics like smartphones and flat-screen TVs.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
The government's capital expenditure in the April-November period of financial year 2024-25 (FY25) continued to contract with a 12.3 per cent decline year-on-year (Y-o-Y), according to data released by the Controller General of Accounts on Tuesday.
Wouldn't it be better to reach 45 with a backup engine of passive income that helps you glide through these years instead of grinding, asks Ramalingam Kalirajan
Defence stocks have been on a tear, with the Nifty India Defence index hitting all-time highs. Over the past week, the index jumped around 7 per cent, far outpacing the flat performance of the Nifty 50. Over the past month, its 12 per cent gain has trebled the benchmark's return.
Authorities in Jammu and Kashmir on Sunday asked border villages residents, who were evacuated to safer places in view of cross border shelling by Pakistan, not to rush back to homes as they are yet to sanitise and clear these areas of any unexplored shells.
Pharma major Dr Reddy's Laboratories delivered a muted operational performance in the fourth quarter of financial year 2024-25 (Q4FY25), even as revenue growth remained healthy. Lower gross margin performance and muted domestic growth are key concerns. Most brokerages have a "Sell" or "Reduce" rating as there are uncertainties related to the development of a new product portfolio and the launch timelines.
At the end of the day, for many worldwide, the ongoing mutual attacks between Israel and Iran would seem a contest devoid of any moral high ground and only a bout between two ordinary adversaries, one that nevertheless risks spinning out of control into a larger conflagration, notes Shyam G Menon.
The United Nations Security Council held closed-door consultations on rising tensions between India and Pakistan, with envoys calling for restraint and dialogue. The consultations, requested by Pakistan, lasted for about an hour and a half. UN Secretary-General Antonio Guterres expressed concern over the tensions, urging both countries to avoid a military confrontation. India's former Permanent Representative to the UN, Syed Akbaruddin, said that no consequential outcome could be expected from the discussion.
The Centre's fiscal deficit at the end of the first five months of the current fiscal touched 27 per cent of the full-year target, government data showed on Monday. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was at Rs 4,35,176 crore as of August-end, according to data released by the Controller General of Accounts (CGA). The deficit stood at 36 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24.
'The universe of PSU stocks is huge and diverse.' 'Investors should bet on specific sectors and stocks from the basket as most of them may continue to consolidate after years of outperformance.'
The Centre's fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit -- the gap between government's expenditure and revenue -- was at Rs 7,50,824 crore during April-October period, according to data released by the Controller General of Accounts (CGA). The deficit stood at 45 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24.
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