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: After filing their Income Tax Return (ITR), many taxpayers eagerly wait for their tax refund -- especially if they've paid more tax than necessary during the year. Naturally, the big question that follows is: "When will my refund arrive?" Understanding how the refund process works can help ease the wait and ensure there are no unnecessary delays. Once you've filed and verified your Income Tax Return (ITR), the refund process typically begins. The Income Tax Department usually takes about 7 to 21 working days to start processing your refund, if you're eligible for one. In most cases, you can expect the money to be credited to your bank account within 4 to 5 weeks, according to official estimates. So, while it doesn't happen instantly, the wait isn't too long if everything is in order. (Also Read: NSE To Conduct Mock Trading Session On August 30) Keep in mind that the Income Tax Department only starts processing your refund after you e-verify your return. So, simply filing your ITR isn't enough -- verification is a must. If your bank account is already pre-validated, the refund process can move faster and smoother. However, delays can happen if there are issues like pending verification, a bank account mismatch, or incorrect details in your filing. Double-checking your information can help you avoid unnecessary wait times. If your ITR refund hasn't been credited within 4 to 5 weeks, the Income Tax Department recommends checking for any discrepancies in your return and reviewing your emails or messages for official communication. Sometimes, delays happen due to errors or additional information requests, so it's important to stay updated and respond promptly. (Also Read: Centre To Begin Pre-Budget Meetings For FY27 From October 9) To receive your income tax refund, you must first add and validate your bank account on the e-filing portal. Here's how: Step 1: Log in to the official Income Tax e-filing portal. Step 2: Go to 'Profile' and select 'My Bank Account'. Step 3: Click on 'Add Bank Account' and fill in your account details -- account number, IFSC code, bank name, and account type. Step 4: Once your bank account is added, select it for refunds and validate it through the portal's electronic confirmation system. One of the most common reasons for refund delays is simply forgetting to e-verify your return. Until you complete this step, your ITR is considered incomplete and won't be processed. The good news? E-verification is quick and easy and you can do it instantly using options like Aadhaar OTP, net banking, your Demat account, or a pre-validated bank account. So if you're waiting for a refund, make sure your ITR is e-verified. Without it, the refund won't move forward.
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 >
Mumbai (Maharashtra) [India], December 11 (ANI): The Indian stock markets continue to be in a consolidation phase as both indices opened flat on Wednesday. The Nifty 50 index opened at 24,620.50 points with a surge of 10.45 points or 0.04 per cent, while the BSE Sensex opened at 81,568.39 with a gain of 58.34 points or 0.07 per cent. Also Read | 'Suriya 45': Is Trisha Krishnan the Female Lead in Suriya Sivakumar's Upcoming Film With RJ Balaji? Check Out the Viral Photos. Experts noted that the US Consumer Price Inflation data will be the major event for markets globally. However, the consol ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday carried out searches at 15 places in Mumbai and Kochi in connection with the Mithi River desilting scam that caused a wrongful loss of more than Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC), official sources said. The massive crackdown is underway at the premises across Mumbai and Kochi linked to the accused and suspects as part of an ongoing probe into alleged financial irregularities. According to the sources, the searches are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA) at locat ...Read More >
NEW DELHI: Indian equities surged sharply after the Reserve Bank of India (RBI) delivered a larger-than-expected 50 basis points repo rate cut, reducing it to 5.5% in today's Monetary Policy Committee (MPC) meeting. The move, led by Governor Sanjay Malhotra, exceeded market expectations of a modest 25 basis points cut, thus fueling a broad-based rally. The BSE Sensex zoomed by about 800 points to trade above 82,200 level while the NSE Nifty surge more than 250 points to trade around 25,000 level as of 12.15 pm. Stocks in the rate-sensitive sectors like realty, banking, NFBC and auto counters ...Read More >
New Delhi [India], June 6 (ANI): Aadhaar number holders carried out over 211 crores authentication transactions, pushing the total number of such transactions since Aadhaar's inception to more than 15,223 crores (152.23 billion), according to a release by the Ministry of Electronics & IT. The ministry reported that the transaction in May 2025 saw more transactions, as compared to the same month last year, when 201.76 Cr such transactions were carried out. This growth in number is a reflection of how Aadhaar-based authentication has been playing a facilitating role in effective welfare delive ...Read More >
NEW DELHI: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
Bengaluru: Mysuru Dasara is set to run for 11 days this year -- a rare extension driven by celestial alignment and cultural planning -- with the inaugural ceremony on Sept 22 and the grand Jamboo Savari taking place on Oct 2, coinciding with Vijayadashami and Gandhi Jayanti.Chairing a high-level meeting at Vidhana Soudha Friday, chief minister Siddaramaiah said, "Mysuru Dasara in 2025 will be celebrated for 11 days, due to a unique astronomical occurrence -- the Panchami tithi (fifth lunar day) will appear on two consecutive days, Sept 26 and 27, a rare alignment that hasn't occurred in nearly ...Read More >
New Delhi: Taxpayers now have more time to file their Income Tax Returns (ITR), as the deadline has been extended to September 15, 2025. While many have already completed the process, others are still getting their documents in order. To make your ITR filing hassle-free, here are 8 important documents you should keep handy. 1. Form 16 Form-16 is a must-have if you're a salaried employee. It gives a detailed summary of your salary, along with the tax deducted by your employer during the year. 2. TDS Certificates TDS certificates are proof that tax has been deducted from your income. These a ...Read More >
A Delhi court has declared UK-based arms consultant Sanjay Bhandari a fugitive economic offender following a request from the Enforcement Directorate. Bhandari, accused of money laundering, reportedly fled to the UK in 2016. Despite India's efforts to extradite him, a UK court recently rejected the plea, further complicating the legal proceedings against him.A Delhi court on Saturday declared UK-based arms consultant Sanjay Bhandari a fugitive economic offender on an Enforcement Directorate plea, ...Read More >
C2C Advanced Systems shares made a strong debut on the NSE SME Emerge platform on December 3, listing at a premium of 90 percent at Rs 429.40 against the issue price of Rs 226. The much-anticipated listing came despite an earlier postponement, which saw a setback for the company after over 3.72 lakh applications worth Rs 27 crore were withdrawn following regulatory action by the Securities and Exchange Board of India (SEBI). C2C Advanced Systems, a vertically integrated defence electronics solutions provider, focuses on indigenously developed products for India's defence sector. Track All I ...Read More >
New Delhi, Jul 1 (PTI) Shares of pharmaceuticals firm Sigachi Industries Ltd fell nearly 6 per cent on Tuesday, extending their previous day's decline, after an explosion at its manufacturing facility in Telangana killed several people. The stock plunged 5.57 per cent to settle at Rs 46.07 on the BSE. During the day, it dropped 8.36 per cent to Rs 44.71. Also Read | Who Is PVN Madhav? Here's Everything You Need To Know About the Newly Appointed Andhra Pradesh BJP President. At the NSE, it fell by 5.76 per cent to end at Rs 45.95. Shares of Sigachi Industries Ltd had tanked over 11.50 per c ...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 >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at 6.5 per cent since February 20 ...Read More >
New Delhi [India], June 6 (ANI): Indian stock markets opened on a cautious note on Friday, as investors remained in a wait-and-watch mode ahead of the Reserve Bank of India's key monetary policy announcement. The policy decision is scheduled to be announced at 10 AM. The benchmark indices reflected this cautious mood. The Nifty 50 opened at 24,748.70, down just 2.20 points or 0.01 per cent. Similarly, the BSE Sensex also opened flat at 81,434.24, down 7.80 points or 0.01 per cent. Experts believe that any decision on the policy rate could significantly influence the market sentiment, especia ...Read More >
New Delhi, Jun 26 (PTI) The initial public offer of Indogulf Cropsciences Ltd was subscribed by 40 per cent on the first day of bidding on Thursday. The initial share sale received bids for 53,77,320 shares, as against 1,33,65,710 shares on offer, as per NSE data. Also Read | Is June 27 Public Holiday in Odisha for Jagannath Puri Rath Yatra? Will Schools and Banks Remain Open or Closed? All You Need To Know. The category for Retail Individual Investors (RIIs) received 69 per cent subscription, while the quota for non-institutional investors got subscribed by 27 per cent. The Qualified Insti ...Read More >
Mumbai (Maharashtra) [India], July 3 (ANI): Indian stock markets opened with gains on Thursday, but caution prevailed as investors remained concerned about the looming US tariff deadline. The Nifty 50 index began the day at 25,505.10, rising by 51.70 points or 0.20 per cent. Similarly, the BSE Sensex opened at 83,540.74, marking a marginal gain of 131.05 points or 0.16 per cent. Market experts noted that while domestic factors are supporting the market, global volatility, especially uncertainties around the US-India trade deal, is keeping traders on edge. Ajay Bagga, Banking and Market Expe ...Read More >
New Delhi [India], July 7(ANI): The Directorate of Enforcement (ED), Jaipur Zonal Office, conducted search operations on Friday at several locations in Jaipur and Kota districts of Rajasthan under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in the case of the Debock Industries Ltd (DIL) Scam, said the release. https://x.com/dir_ed/status/1942196032122826765 The searches have been conducted at the residence and office of the Chairman, i.e. Mukesh Mahavar alias Mukesh Manveer Singh of Debock Industries Limited (a NSE-listed company), and his associates. ED initiated ...Read More >
The Supreme Court on Monday stayed further recovery of an outstanding tax demand from news portal NewsClick, directing the company's banker not to release any more money to the tax department based on a 2023 notice, and allowing the portal to use its two bank accounts for daily operations. The order was passed by a bench headed by justice BV Nagarathna on an application moved by PPK Newsclick Studio Limited, which alleged that ICICI Bank was not allowing the company to use its accounts despite a top court order to this effect passed on August 9. The tax department had raised the demand again ...Read More >
New Delhi, June 5 (SocialNews.XYZ) Aadhaar number holders executed over 211 crore authentication transactions in May this year taking the cumulative number of such transactions to more than 15,223 crore since inception, according to a statement issued by the Ministry of Electronics & IT on Thursday. The May authentication transactions are more than the previous month, as well as of May 2024 when 201.76 Cr such transactions were carried out. The growing number shows, how Aadhaar-based authentication has been playing a facilitating role in effective welfare delivery, and voluntarily availing v ...Read More >
DHARMAPURI: For the third time in the past two months, a wild leopard wandered into a private farmland near Valaithottam village near Palacode and hunted chicken raised by a local farmer. Locals are increasingly distressed and urged the forest department to take steps to relocate the leopard. Over the past few months, there have been several reports of leopard sightings in forest areas near Palacode, particularly in Valaithottam village, near the forest's fringe. There have been two instances when the leopard attacked farmlands, taking away a domestic dog and a chicken. On Saturday, the leop ...Read More >
New Delhi, Jun 29 (PTI) The Congress on Sunday attacked the Centre and Rajasthan governments over the reported plan to redraw the boundaries of the Sariska Tiger Reserve for the reactivation of over 50 mining operations, saying the move would be "ecologically devastating". The opposition party also said that with the Rajasthan and Union environment ministers both being from Alwar, this "double engine" cannot be supporting such a move. Congress general secretary in-charge communications Jairam Ramesh shared on X a media report which claimed that a plan to redraw the boundaries of Rajasthan's ...Read More >
Mumbai, Jul 4 (PTI) Benchmark indices Sensex and Nifty ended higher on Friday in a highly volatile trade amid a buying rush in banking and other bellwether stocks on the back of a rally in the US markets. After oscillating between highs and lows in intra-day trade, the 30-share BSE Sensex ended 193.42 points or 0.23 per cent higher at 83,432.89. During the day, it hit a high of 83,477.86 and a low of 83,015.83, gyrating 462.03 points. The 50-share NSE Nifty inched up by 55.70 points or 0.22 per cent to 25,461. From the Sensex firms, Bajaj Finance, Infosys, Hindustan Unilever, ICICI Bank, HC ...Read More >
New Delhi [India], July 5 (ANI): A Delhi special court on Saturday declared UK-based arms dealer Sanjay Bhandari a Fugitive Economic Offender under the Fugitive Economic Offenders (FEO) Act, in connection with an income tax case involving undisclosed foreign assets. The order was passed by Additional Sessions Judge Sanjeev Aggarwal following a plea by the Enforcement Directorate (ED), which alleged that Bhandari had deliberately evaded Indian legal proceedings and possessed foreign assets exceeding Rs 100 crore. The agency emphasised that the UK court's refusal to extradite Bhandari had no be ...Read More >
NewsVoir Bengaluru (Karnataka) [India], July 7: Upekkha, the India-US accelerator that has backed over 100 SaaS and AI startups, has announced VIBE 2025 (Vertical Intelligence & BEyond), the world's first summit dedicated exclusively to vertical AI. Scheduled for 10-11 July 2025 at The Leela Palace, Bengaluru, and co-hosted with SaaSBoomi, this two-day flagship event will showcase how AI can move from concept to real-world deployment within just 48 hours. "Walk in with a problem statement, walk out with a working AI pilot in 48 hours." This bold promise underpins VIBE 2025's mission -- to co ...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 >
Mumbai, July 1: Recently, the Bombay High Court ordered Yes Bank to pay INR 50,000 to compensate Microfibers Pvt Ltd for delaying opening a bank account after insisting on an Aadhaar card. It is learned that the private bank insisted on an Aadhaar card despite the interim relief granted by the Supreme Court at the time. Although the private bank had complied and opened the account in January 2019, the bench of Justices MS Sonak and Jitendra Jain said that they had failed to do so between April and September 2018, a period during which Aadhaar was not mandatory. The Bombay HC made these observ ...Read More >
Mumbai (Maharashtra) [India], July 3 (ANI): Indian stock markets opened with gains on Thursday, but caution prevailed as investors remained concerned about the looming US tariff deadline. The Nifty 50 index began the day at 25,505.10, rising by 51.70 points or 0.20 per cent. Similarly, the BSE Sensex opened at 83,540.74, marking a marginal gain of 131.05 points or 0.16 per cent. Market experts noted that while domestic factors are supporting the market, global volatility, especially uncertainties around the US-India trade deal, is keeping traders on edge. Ajay Bagga, Banking and Market Expe ...Read More >
Young Indian argued in court that the income tax department deemed the Rs 90 crore loan to Associated Journals Limited (AJL) a sham, contradicting the ED's money laundering case against Sonia and Rahul Gandhi. Counsel for the accused refuted the ED's charges, questioning the basis of the Rs 2,000 crore valuation and alleging suppressed documents. Young Indian on Monday argued that the income tax department had called the purported Rs 90 crore loan to Associated Journals Limited (AJL), publisher ...Read More >
Mumbai: Net profit of Nifty 50 companies at the aggregate level is expected to increase 4.6% year-on-year while revenue may increase 4.5% for the June 2025 quarter. Net profit is likely to show single-digit year-on-year growth for the first time in at least nine quarters amid an anticipated poor performance by select companies, including Tata Motors, IndusInd Bank and Coal India. The sample's revenue is expected to grow in single digit for the fourth consecutive quarter reflecting persistent muted demand scenario. Select companies from metals, pharmaceuticals, cement, banking and finance and ...Read More >
New Delhi [India], December 18 (ANI): The gross direct tax collections by the government so far in 2024-15 were 20.32 per cent higher on a yearly basis at Rs 19.21 lakh crore, data released by the Central Board of Direct Taxes (CBDT) showed on Wednesday. During the same period last year, the gross tax collections were to the tune of Rs 15.96 lakh crore. Coming to net direct tax collection, it rose 16.45 per cent to Rs 15.82 lakh crore from Rs 13.59 lakh crore mopped up during the year-ago period. Refunds for the period rose 42.49 per cent to Rs 3.38 lakh crore from Rs 2.37 lakh crore in the ...Read More >