India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi [India], July 14 (ANI): The Income Tax Department is conducting raids on more than 200 locations, in connection with false deductions under various heads, including political donations, tuition fees, and medical expenses, sources told ANI. This stern action from the Income Tax Department came after they found several bogus bills claimed by several intermediaries under section 80GGC. This section of the Income Tax Act offers taxpayers a deduction for donations made to political parties or any electoral trusts. According to the sources, the Income Tax Department are conducting searches in connection with the deduction of bogus medical expenses and tuition fees. Sources said that there were complaints where several intermediaries were regularly claiming deduction on bogus bills. These bogus bills were provided to the intermediaries on commission, ranging from five to ten per cent. These tax evaders are mainly from capital cities, where people on a regular basis are fraudulently claiming deductions on tuition fees and medical expenses and through political donations, sources told ANI. (ANI) Disclaimer: This news article is a direct feed from ANI and has not been edited by the News Nation team. The news agency is solely responsible for its content.
New Delhi, Nov 26: A day after the Cabinet Committee on Economic Affairs approved the PAN 2.0, the Income Tax Department on Tuesday issued a detailed clarification on the project based on a list of 11 frequently asked questions (FAQs) to provide taxpayers with a deeper insight into the new system. 1. What is PAN 2.0? PAN 2.0 Project is an e-Governance project of the Income Tax Department for re-engineering the business processes of taxpayer registration services. The objective of the project is to enhance the quality of PAN services through the adoption of the latest technology. Under this pr ...Read More >
Leader of the House in Rajya Sabha and Union minister JP Nadda on Thursday said that the Chair should not be questioned or criticised about admissibility, calling it contempt of the House and Chairman. He also condemned Mallikarjun Kharge for criticising the Chair in a press conference the day before, calling it wrong. "The Chair cannot be questioned with regard to admissibility or for any other purposes. The Chairman's ruling cannot be questioned or criticised; to do so is contempt of the Hous ...Read More >
Guwahati, Jun 5 (PTI) The Assam Congress on Thursday demanded a CBI inquiry into alleged illegal stone mining in Karbi Anglong district in violation of a Supreme Court order. Addressing a press conference here, former Rajya Sabha member Ripun Bora also alleged that Karbi Anglong Autonomous Council Chief Executive Member Tuliram Ronghang was allowing illegal activities in the district in nexus with Chief Minister Himanta Biswa Sarma. "Large-scale illegal stone mining is taking place in the hills of Karbi Anglong in violation of the Supreme Court order. The SC had banned mining in and around K ...Read More >
Mumbai: A day after leader of the opposition in the Lok Sabha Rahul Gandhi alleged "match fixing" between BJP and ECI, state Congress chief Harshawardhan Sapkal on Sunday demanded narco tests on chief electoral officer (CEO) S Chockalingam and then additional CEO Kiran Kulkarni to expose the truth in Maharashtra's "vote theft" in the 2024 assembly election.Sapkal said it is BJP and CM Devendra Fadnavis who have jumped in with rebuttals, instead of the election watchdog. Fadnavis had on Saturday called Rahul's allegations an outright lie and in an article published in a national newspaper and a ...Read More >
Bengaluru Power Cuts: Citizens of Bengaluru brace yourself for long hours of power outages from June 29 and June 30. More than 100 areas will be impacted as BESCOM undertakes its quarterly maintenance work in various of its division. Bengaluru Power Outages June 29: According to the update by BESCOM on its X handler, there will be power outages in Kittaganahalli, Palasandra, Saptagiri, Maruthinagar, Sankapur, Raghavendra Nagar, Goolarivee, Baddihalli, Kesaramadu, C.M Badawan, Kalalli and SKS village on June 29 from 10 am to 5 pm. BESCOM's executive engineer has appealed to consumers to coop ...Read More >
Patna (Bihar) [India], July 2 (ANI): Defence Minister Rajnath Singh on Wednesday took a jibe at opposition parties in Bihar while addressing the Bharatiya Janata Party's (BJP) state executive meeting and said that India has always been secular. The Defence Minister questioned the opposition regarding the definition of secular amid the ongoing controversy over Rashtriya Swayamsevak Sangh (RSS) Dattatreya Hosabale's suggestion to reconsider the inclusion of words 'secular and socialist' in the Preamble of the Indian Constitution. 'India is a country whose very culture embodies the spirit of Sa ...Read More >
day after the Cabinet Committee on Economic Affairs approved the PAN 2.0, the Income Tax Department on Tuesday issued a detailed clarification on the project based on a list of 11 frequently asked questions (FAQs) to provide taxpayers with a deeper insight into the new system. PAN 2.0 Project is an e-Governance project of the Income Tax Department for re-engineering the business processes of taxpayer registration services. The objective of the project is to enhance the quality of PAN services through the adoption of the latest technology. Under this project, ITD is consolidating all processes ...Read More >
Bengaluru (Karnataka) [India], June 7 (ANI): Two top Karnataka State Cricket Association (KSCA) officials -- secretary A Shankar and treasurer ES Jairam -- resigned from their posts during an emergency managing committee meeting held on Saturday, accepting 'moral responsibility' for stampede near M Chinnaswamy Stadium in Bengaluru. The incident occurred during celebrations following Royal Challengers Bengaluru's (RCB) maiden IPL title win and claimed 11 lives and left dozens injured. KSCA President Raghuram Bhat confirmed the development, saying that the resignations were discussed and accep ...Read More >
Mumbai, Jun 8 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Sunday said Congress MP Rahul Gandhi, instead of introspecting on the defeat in the 2024 state assembly polls, has been repudiating the mandate given by the people because they rejected him. The leader of opposition in the Lok Sabha is preparing his excuses for future defeats in the upcoming assembly elections, including Bihar, Fadnavis said in his articles published in the Indian Express and Marathi daily Loksatta. On Saturday, Gandhi, in an article published in several newspapers and in posts on X, claimed the 2024 Maharas ...Read More >
Mumbai (Maharashtra) [India], June 8 (ANI): Maharashtra Chief Minister Devendra Fadnavis on Sunday launched a scathing attack on Congress leader Rahul Gandhi's allegations against the Election Commission of India (ECI), accusing him of consistently misunderstanding the country's mood and misplacing blame. Speaking to mediapersons in Hindi, Fadnavis said, 'Ta-umr Rahul Gandhi aap yahi galti karte rahe, dhool chehre pe thi aur aap aina saaf karte rahe' (Throughout your life, Rahul Gandhi, you have always made the same mistake; the dust was on your face, but you kept cleaning the mirror). Earli ...Read More >
Nagpur: The Maharashtra Navnirman Sena (MNS) has welcomed the state govt's decision to withdraw the controversial government resolutions (GRs) mandating Hindi as a compulsory third language from Class I. The party has called it a victory for Marathi pride and a direct result of party chief Raj Thackeray's steadfast opposition.Nagpur-based Sharad Bhandarkar, state general secretary of MNS Shikshak Shikshattar Sena (teaching and non-teaching staff association), said the move reflects the party's lo ...Read More >
Mumbai (Maharashtra) [India], February 7 (ANI): Maharashtra Chief Minister Devendra Fadnavis on Friday rejected Leader of Opposition and Congress leader Rahul Gandhi's allegation of alleged discrepancies in the 2024 Maharashtra assembly election stating that the Opposition leader, aware of his party's imminent defeat in Delhi election results was attempting to "cover fire." Earlier today addressing a press conference in the national capital Rahul Gandhi flanked by Supriya Sule and Sanjay Raut had alleged that over 39 lakh voters were added to Maharashtra's electoral rolls within a span of fiv ...Read More >
Chennai (Tamil Nadu) [India], June 8 (ANI): Tamil Nadu Bharatiya Janata Party (BJP) spokesperson ANS Prasad criticised the ruling Dravida Munnetra Kazhagam (DMK) over its remarks on the Census and the upcoming delimitation exercise, alleging that the party is attempting to mislead the public. In a press statement, Prasad said that Chief Minister MK Stalin and DMK MP Kanimozhi should refrain from making 'baseless allegations' against the Central Government. He asserted that such comments appear politically motivated and distract from administrative failures in Tamil Nadu. 'The DMK government' ...Read More >
New Delhi, Jun 8 (PTI) Aam Aadmi Party's Rajya Sabha MP Sanjay Singh and Delhi unit chief Saurabh Bharadwaj on Sunday visited the demolition site of the Madrasi Camp slum cluster, where they met with displaced residents, and intensified their attack on the BJP over the recent eviction drive. They alleged that Prime Minister Modi's promise to slum dwellers of 'jahan jhuggi wahan makan' - house at the site of their hutment - has "proved to be hollow like many others". There was no immediate response available from the BJP or the Delhi government over the accusations. The Madrasi Camp -- a jhu ...Read More >
New Delhi: Alleging "blatant misuse" of agencies to defame its leaders, AAP on Thursday questioned why the first information report filed against former Delhi ministers Saurabh Bharadwaj and Satyendar Jain was being kept under wraps and "selective" press notes were being leaked to the media.Bharadwaj, who is Delhi AAP convener, alleged that only two former ministers were named in the case without any reasonable cause while all the officers of the health and public works departments, who were actually responsible for executing the hospital projects, were spared. "Is the FIR so baseless that BJP ...Read More >
Tihar jail authorities on Friday issued a statement dismissing reports concerning the critical health of Jammu and Kashmir separatist leader Shabir Ahmad Shah, saying that he is receiving regular medical attention and his condition remains stable. The statement comes in the backdrop of appeals from Jammu and Kashmir's various political parties and his daughter for proper medical care for Shah, who they claim is suffering from a life-threatening illness. "Some rumours are reportedly being circul ...Read More >
New Delhi [India], June 28 (ANI): The Appointments Committee of the Cabinet has approved the re-appointment of Ravi Agrawal, as Chairman of the Central Board of Direct Taxes (CBDT) on a contract basis for one year, effective from July 1, 2025, to June 30, 2026, or until further orders, according to an official order. Last year, Agrawal, a 1988-batch IRS officer, was appointed as the new chairman of the Central Board of Direct Taxes, the administrative body for the Income Tax Department. Also Read | From 'Gajar Ka Halwa' to 'India Appears Bigger and More Majestic From Space': Here Is Full Tex ...Read More >
Imphal, June 29 (UNI) A series of successful operations carried out by Manipur Police and security forces during the last 24 hours led to the arrest of several individuals involved in vehicle theft, insurgent activity, and the recovery of a significant cache of arms and ammunition. Police arrested a vehicle lifter identified as Syed Riyaj from his residence at Lilong Chaobok in Thoubal District. The arrest was made under Lilong Police Station. Authorities seized a blue two wheeler without registration number, along with a key and an Aadhaar card believed to be linked to the suspect. In a s ...Read More >
New Delhi [India], July 3 (ANI): Noting that the Election Commission 'undermined' the basis of the democratic system in the last six months, Congress MP Jairam Ramesh accused that the Special Intensive Revision (SIR) by the poll body will 'destroy' the country's democracy. Ramesh, who is also Congress' General Secretary in charge of Communications, drew a parallel between the demonetisation in 2016 and SIR by the Election Commission, stating that the PM's 'notebandi' destroyed our economy and the ECI's 'VOTE-Bandi', as reflected in the SIR, will destroy our democracy. In a post on X, Ramesh ...Read More >
New Delhi [India], June 7 (ANI): In response to the allegation made by Congress MP Rahul Gandhi regarding the Maharashtra election, the Election Commission described it as 'unsubstantiated allegations.' The ECI statement reads, 'Unsubstantiated allegations raised against the Electoral Rolls of Maharashtra are affront to the rule of law. The Election Commission had brought out all these facts in its reply to the INC on 24th December 2024 itself, which is available on ECI's website. It appears that all these facts are completely being ignored while raising such issues again and again...' The E ...Read More >
New Delhi [India], June 26 (ANI): Sources within the Election Commission of India (ECI) have clarified that the Indian National Congress' (INC) ongoing demand for machine-readable, digital copies of electoral rolls is 'not legally tenable' and has already been conclusively settled by the Supreme Court. Officials pointed out that this issue was earlier raised by former Madhya Pradesh Congress Committee President Kamal Nath in 2018 through written petition (C) No. 935 of 2018. The Supreme Court had definitively ruled in favour of the Election Commission's position in that case. While acknowled ...Read More >
Hyderabad (Telangana) [India], June 28 (ANI): All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi has written to the Election Commission of India (ECI), raising strong objections to the ongoing "Special Intensive Revision" (SIR) of electoral rolls in Bihar. In a letter dated Saturday, June 28, Owaisi expressed concerns that the revision exercise could have a "deleterious effect" on electors ahead of the upcoming Bihar legislative assembly elections. He urged the ECI to provide a "detailed explanation" on several issues raised by his party in a formal representation. Also Re ...Read More >
New Delhi [India], June 30 (ANI): The Central Board of Direct Taxes (CBDT) Chairman Ravi Agarwal has issued strict directives to Faceless Assessment Officers (FAOs) to avoid raising irrelevant queries while conducting faceless assessments, emphasising the need for more focused and case-specific scrutiny procedures. Chairman Ravi Agarwal has written to the Principal Chief Commissioners of Income Tax, directing them to ensure that faceless assessment officers maintain higher standards of inquiry relevance and specificity in their assessments. Also Read | Rinku Singh Appointed Basic Education O ...Read More >
Kargil , Jul 2: Pursuant to putting in place a comprehensive legal framework to ensure fair, inclusive, and transparent recruitment to public services, the Administration of the Union Territory of Ladakh has initiated a large-scale recruitment drive for 359 Gazetted posts through the Union Public Service Commission (UPSC). This marks the first-ever recruitment of Gazetted posts through UPSC since the formation of the Union Territory, officials said. This follows the establishment of a unique and dedicated legal framework specifically designed for Ladakh. The framework ensures maximum local re ...Read More >
New Delhi: Was it the pitch? Was it the conditions? Was it the bowling? The questions doing the rounds after yet another strange show in good batting conditions by India were many. But with the exception of Shubman Gill, who became just the second Indian captain, after Mohammad Azharuddin, to score hundreds in consecutive matches in England, and Yashasvi Jaiswal, few India batters managed to answer them in a satisfactory manner. After being put into bat by England, India looked like they were in control at various points during the day but then somehow contrived to gift away wickets and end t ...Read More >
NDIA bloc leaders, who submitted a notice of no-confidence motion against the Rajya Sabha Chairman Jagdeep Dhankhar on Wednesday, blamed the chair for not allowing them to speak in the Rajya Sabha. The leaders held a joint press conference labelling several charges against the chairman. "His behaviour (RS chairman) has damaged the dignity of the country. He has brought such a situation in the history of parliamentary democracy that we had to bring this notice for the resolution (of no confidence ...Read More >
New Delhi [India], June 5 (ANI): The Election Commission of India (ECI) on Thursday announced that it would streamline its technology-driven system for generating Index Cards and various other post-election statistical reports. The new system will ensure faster reporting through automation and data integration. "This upgraded mechanism replaces the traditional manual methods, which were often time-consuming and prone to delays. By leveraging automation and data integration, the new system ensures faster reporting," the press note issued by the Election Commission read. Also Read | Delhi: Hig ...Read More >
New Delhi [India], June 8 (ANI): BJP MP Gulam Ali Khatana, who was part of the all-party parliamentary delegation to Europe, said that during their recently conclued visit they successfully communicated India's development story and its resolute stand against terrorism, particularly emanating from Pakistan. Highlighting the delegation's key discussions during the tour, Khatana told ANI, 'We discussed how we dismantled the terrorism factory in Pakistan by responding... We also talked about tourism infrastructure, G20 Summit, and projects like the six-lane roads, bridges, solar initiatives, our ...Read More >
Bhubaneswar: A low-pressure area forming over the north Bay of Bengal and adjoining coastal areas of Bangladesh and West Bengal is expected to trigger heavy to very heavy rainfall across parts of Odisha through July 4, the India Meteorological Department (IMD) said Saturday. An upper air cyclonic circulation currently persists over southwest Bangladesh and adjoining Gangetic West Bengal, extending up to 7.6 km above mean sea level and tilting southwestward with height, the IMD said. Under its influence, a low-pressure area is likely to develop over the region within the next 48 hours. The sy ...Read More >
Patna (Bihar) [India], July 1 (ANI): Rashtriya Janata Dal leader (RJD) leader Tejashwi Yadav on Tuesday questioned the Special Intensive Revision (SIR) exercise being carried out by the Election Commission of India (ECI) ahead of the upcoming Bihar assembly elections and claimed that the poll body has "lost control" over its actions. He further attacked those "looting Bihar", saying that their time to loot the state was getting over, and thus, they want to cut the poor from the voters' list to remain in power. Also Read | India Developing Its Own Bunker-Buster Missile? Reports Say DRDO Modif ...Read More >