While the new income tax law replaces the Income Tax Act, 1961 and omits 13 offences, 35 actions and omissions continue to attract criminal liability under 13 provisions.
India's forex reserves jumped $10.87 billion to $676.27 billion during the week ended April 4, the Reserve Bank of India (RBI) said on Friday. The overall kitty had jumped $6.6 billion to $665.4 billion in the previous reporting week.
Chief Economic Adviser V Anantha Nageswaran on Wednesday said that the country is not pursuing any proposal to replace the US dollar as international currency for global trade. "No, certainly not. I think India is not part of any such initiative," he said in response to a question if India is looking at an alternative currency to the US dollar for global trade.
The Supreme Court has ordered a CBI probe into the Karur stampede, prompting varied reactions from political parties. DMK claims misrepresentation in the petition, while AIADMK sees the decision as a setback for DMK. Other parties express their views on the investigation and its implications.
Bihar Chief Minister Nitish Kumar disbursed Rs 2,500 crore to 25 lakh beneficiaries of the 'Mukhyamantri Mahila Rojgar Yojana', raising to one crore the number of women to have received Rs 10,000 each under the self-employment scheme.
Among Sensex firms, ITC, Bharti Airtel, Trent, Bajaj Finserv, Titan and Reliance Industries were the major laggards. However, UltraTech Cement, Adani Ports, Tata Motors, Bharat Electronics, Bajaj Finance and Hindustan Unilever were among the major gainers.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
SP Group chairman Shapoorji Pallonji Mistry on Friday reiterated calls for public listing of Tata Sons to bring transparency, amid infighting among trustees of Tata Trusts which controls a 66 per cent stake in the holding company of the salt-to-software conglomerate. Shapoorji Pallonji family is the single largest minority shareholder with about 18.37 per cent in Tata Sons.
Reserve Bank Governor Sanjay Malhotra on Wednesday said there is no proposal to levy any charge on UPI transactions.
The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
The Reserve Bank of India (RBI) on Wednesday met the long-standing demand of banks by allowing them to finance acquisitions by Indian companies, a move that also expands banks' capital market lending in the country.
Reserve Bank of India (RBI) Governor Sanjay Malhotra, with Deputy Governors Poonam Gupta, Swaminathan J, T Rabi Sankar, and M Rajeshwar Rao, responded to a range of queries in the post-policy interaction with the media
Vijay, despite the loud message from his delayed arrival at the road-show/stampede venue, and more so his continued inaccessibility for fans-turned-cadres after graduating from a super-star to a political party leader with electoral ambitions, refuses to change. Or, so it seems, observes N Sathiya Moorthy.
Mehli Mistry is backed by three other trustees -- Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir -- against Tata Trusts Chairman Noel Tata and the two vice-chairmen, Venu Srinivasan and Vijay Singh.
Clarity on Tata Sons' position on listing, as of 2025, would help define the future of the group better, irrespective of the RBI stand. As of now, the ball is in the RBI's court, and everyone is watching the space, points out Nivedita Mookerji.
Government sources allege the recent violence in Ladakh was a politically motivated conspiracy, blaming certain individuals and activist Sonam Wangchuk for misleading the youth.
Activist Manoj Jarange warns of political consequences if the Maratha community is 'betrayed' on quota promises, asserting that all Marathas will be included in the OBC category. He also addresses concerns from OBC leaders and the ongoing agitation.
The Maratha reservation agitation, spearheaded by Manoj Jarange Patil, paralysed South Mumbai for the fourth day, with massive crowds choking traffic and hurting business.
On October 14, 1956, Dr B R Ambedkar, fulfilling his long-held vow to renounce Hinduism, embraced Buddhism along with over 500,000 followers at Nagpur's Deekshabhoomi, marking a new era of social and spiritual liberation for India's Dalits.
Fast bowler Arundhati Reddy is likely to be fit for India's women's World Cup 2025 opener against Sri Lanka on September 30 after figuring in the second warm-up match against New Zealand and taking two wickets in nine overs on Saturday.
After three straight quarters of decline, India's housing market is pinning hopes on the ongoing festival season to revive sales momentum. While 2025 may still end with sales volumes below 2024 levels, developers believe the seasonally strong October-December quarter could narrow the gap, aided by stable interest rates, festive incentives, and resilient demand in the premium segment.
The TVK has sought an independent investigation under the supervision of the Supreme Court, contending that a fair and impartial probe would not be possible if conducted solely by officers of the Tamil Nadu Police.
Equity markets will keenly track outcome of the US Federal Reserve policy meeting this week amid heightened expectations of an interest rate cut along with WPI inflation data, analysts said. Any further development on the USndia trade front would also drive trends in the equity market, experts said.
Hockey India on Tuesday announced a 20-member Indian men's A squad for an exposure tour to Europe which will feature eight matches from July 8 to 20.
'We have a great leader coming, the prime minister of Pakistan and the field marshal.'
The Reserve Bank of India (RBI) is in no rush to launch the central bank digital currency (CBDC) nationwide, as its most promising use case - cross-border payments - depends on other countries rolling out their own CBDCs simultaneously for the system to work effectively. That said, the CBDC pilot is progressing well, with the user base in India expanding to about seven million, said RBI Deputy Governor T Rabi Sankar.
Petitions challenging the Maharashtra government's decision to issue Kunbi caste certificates to the Maratha community for reservation have been filed in the Bombay High Court. The pleas claim the decision is arbitrary and unconstitutional.
The cancellation means the Leh-based institute will no longer be able to receive or utilise foreign funding.
Rashtrapati Bhavan has introduced a new initiative, the E-Upahaar auction, to monetise valuable assets for a social cause, in alignment with a broader governmental policy, championed by Prime Minister Narendra Modi, of auctioning gifts received by dignitaries to fund welfare programmes.
Maharashtra Minister Chhagan Bhujbal opposes including Marathas in the Other Backward Classes (OBC) quota, citing limited reservation available for existing OBC communities and warning of potential protests if their share is reduced.
'They are positioned as defensive products and can potentially give marginally higher returns than liquid funds.'
The Bombay high court has upheld a decision by the State Bank of India (SBI) to classify accounts of industrialist Anil Ambani and his company, Reliance Communications (RCom), as "fraudulent" noting that there was no legal flaw in it.
Maharashtra Water Resources Minister Radhakrishna Vikhe Patil met Chief Minister Devendra Fadnavis to discuss the ongoing hunger strike by activist Manoj Jarange, who is demanding a 10 per cent quota for Marathas under the Other Backward Class (OBC) category.
Quota activist Manoj Jarange demands the Maharashtra government implement a GR for issuing Kunbi caste certificates to Marathas before September 17, threatening further action if the deadline is missed.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
Chief Election Commissioner Gyanesh Kumar expressed satisfaction over the completion of the Special Intensive Revision (SIR) in Bihar, stating that the exercise has 'purified' the voters' list after 22 years. He made the announcement during a press conference in Patna.
Selected candidates will receive financial assistance of up to Rs 50,000 per year to cover tuition fees, academic materials and other essential educational expenses.
Ravindra Jadeja's omission from the India ODI squad for Australia tour raised a few eyebrows but the veteran all-rounder was not surprised as the selection committee and team management had "communicated" to him about their inability to pick him.
Maharashtra Chief Minister Devendra Fadnavis praised activist Manoj Jarange for ending his fast regarding the Maratha quota demand, highlighting the government's commitment to the Maratha community's welfare.
'The BJP will win comfortably if the Congress and AAP fight separately -- though not with 162 seats.' 'But if they form an alliance, it will become a major problem for the BJP. That's precisely why this expansion is happening now.'
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