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: In a major development that promises to give some relief to taxpayers. The deadline for filing ITR has been extended, again. Now, the final date for filing ITR has been moved to 16 September 2025. This information has been given by the Finance Ministry. This is the second time that the ITR filing deadline has been extended. It is important to note that several chartered accountants and taxpayers had been continuously complaining about server issues, timeouts, glitches, and several other problems on the ITR portal. Considering this, the last date for filing ITR has been extended by one more day. The Modi government made this decision late at night. The Income Tax Department, in a post on X, wrote: "The original last date for filing ITR for Assessment Year 2025-26 was 31 July 2025. It was extended to 15 September. The CBDT has now decided to further extend the last date for filing ITR for Assessment Year 2025-26 from 15 September to 16 September." It was also mentioned that ITR portal maintenance was carried out between 12 midnight and 2:30 AM on 15-16 September. Earlier, the deadline for filing ITR for Assessment Year 2025-26 was July 31, 2025, which was extended to September 15, 2025. This is the second time the department has extended the deadline.
New Delhi, Sep 15: The government on Monday extended the due date for filing income tax returns (ITRs) for Assessment Year 2025-26 by a day to September 16 as technical glitches disrupted filings on the last day. A record over 7.3 crore ITRs were filed till September 15, surpassing last year's 7.28 crore, the Central Board of Direct Taxes (CBDT) said in a post on X. The e-filing portal faced huge traffic on Monday, which was the last date for filing ITRs for AY 2025-26. Also, Monday was the last date for payment of the second quarterly instalment of advance tax for the ongoing fiscal year. ...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 >
New Delhi, Sep 16 (SocialNews.XYZ) The Central Board of Direct Taxes has decided to further extend the due date for filing the Income Tax Returns (ITRs) for Assessment Year (AY) 2025-26 from September 15 (Monday) to September 16 (Tuesday), a notification read. Taking to X late on Monday night, Income Tax India, which is the official account of the Income Tax Department, wrote: "KIND ATTENTION TAXPAYERS! The due date for filing of Income Tax Returns (ITRs) for AY 2025-26, originally due on 31st July 2025, was extended to 15th September 2025. "The Central Board of Direct Taxes has decided to f ...Read More >
Nagpur: The income tax (I-T) department has detected as many as 9,000 returns that were filed to claim fake exemptions from tax liabilities and refunds in Nagpur zone alone. The estimates so far indicate that exemptions to the tune of Rs100 crore were claimed. A large number of such returns were filed by policemen, railway employees, zilla parishad staffers, even as the list includes some private employees too.A sizeable number of filers claimed exemptions by misrepresenting their status as foreign nationals, whose income earned in India is free from tax, said sources privy to the development. ...Read More >
New Delhi: The Income Tax Bill 2025, set to be moved in the monsoon session of Parliament to simplify the direct tax law, will set the stage for another round of reforms which will be more substantive in nature in subsequent years, said two people informed about the discussions in the government The finance ministry is of the view that once the over-six-decade-old Income Tax Act, 1961 is simplified and made more readable, targeted reforms can be achieved in taxation of personal and corporate income. This will be done through the annual Finance Acts, said one of the persons quoted above. Majo ...Read More >
Mumbai, September 2: The last date to file Income Tax Return (ITR) is fast approaching, and taxpayers are urged to complete their filings for FY 2024-25 (AY 2025-26) by September 15, 2025. The deadline was extended from July 31 due to structural changes in ITR forms and technical updates on the Income Tax Portal. Missing the deadline may result in penalties and interest, making timely filing crucial for individuals and businesses alike. Taxpayers should prepare all necessary documents in advance to ensure a smooth submission. With just days left, many are looking for ways to file ITR online w ...Read More >
NEW DELHI: The Income Tax Department has clarified that the deadline for ITR filing for Assessment Year 2025-26 is September 15 and there is no further extension as circulated on social media. In a late night post on X on September 14, the department termed "fake" a statement in circulation on social media stating that the due date of filing ITRs has been further extended to September 30, 2025. Asking taxpayers to only rely on official updates on @IncomeTaxIndia, it said "The due date for filing ITRs remains 15.09.2025". A host of chartered accountants and individuals have taken to social m ...Read More >
New Delhi, April 2 (SocialNews.XYZ) The Income Tax Department on Thursday launched a new website called 'Kar Saathi', aimed at making tax-related processes simpler and more user-friendly. The department said the platform brings all direct tax information under one roof and is designed to be easier to navigate and faster to use. Announcing the launch on X, Income Tax India shared that the new website will help taxpayers access all information in one place while introducing 'Kar Saathi', an AI-powered companion to guide users through their tax-related queries and processes. "The New Income Ta ...Read More >
The Income Tax Department has taken another step towards making tax filing simpler and more user-friendly. On April 2, it launched a new platform called 'Kar Saathi', an AI-assisted website designed to help taxpayers navigate income tax processes with ease. The new website brings together all income tax-related information in one place. According to the department, it is easier to navigate, faster to use, and built to reduce confusion for taxpayers who often struggle with forms, rules and proced ...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 >
The Income-Tax Department has found organised rackets operated by some returns preparers and intermediaries across the country, filing income-tax returns (ITRs) on behalf of their clients -- including employees of multinational companies, public sector firms, government bodies, academic institutions, and entrepreneurs -- to fraudulently claim exemptions and refunds, the Finance Ministry said. The department is now poised to take stern action against continued fraudulent claims, including penalti ...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 11: The Income Tax Department has officially released the Excel-based utilities for ITR-2 and ITR-3 forms for the Assessment Year (AY) 2025-26, enabling individuals with more complex income sources, including capital gains, cryptocurrency, and professional income, to begin filing their tax returns. The announcement was made via the department's official X, formerly Twitter, handle, saying, "Attention Taxpayers! Excel Utilities of ITR-2 and ITR-3 for AY 2025-26 are now live and available for filing." This latest rollout follows the earlier launch of utilities for ITR-1 and ITR-4, ...Read More >
NEW DELHI/BATHINDA: The Directorate of Enforcement (ED) on Friday conducted searches at 22 de-addiction centres across Punjab, including in Chandigarh, Barnala and Ludhiana, after its investigation revealed illegal sale of drugs by these centres. The agency also searched a premise in Mumbai linked to the accused.Dr Amit Bansal, who runs these 22 centres, is prime accused in the case, sources said. Bansal, against whom Punjab Police has registered multiple FIRs, is alleged to be engaged in illegal sale of drugs from his de-addiction centres.Privately-run drug de-addiction centres in Punjab are ...Read More >
MUMBAI : The annual information statement (AIS), introduced by the Income Tax Department to enhance transparency, is instead creating hassles for taxpayers by reporting incorrect incomes, according to chartered accountants. Introduced in 2021, the AIS gives a snapshot of financial transactions -- ranging from securities and mutual funds to property deals and fixed deposits -- during a fiscal year, sourced from multiple reporting entities such as banks, registrars, depositories, and sub-registrars. Available on the Income Tax e-Filing portal, the AIS complements the form 26AS by providing an ...Read More >
Lucknow, Jul 17 (PTI) To curb illegal mining and transportation, the Uttar Pradesh government is deploying advanced technologies under the Integrated Mining Surveillance System (IMSS), a release said on Thursday. Mining activities are already being monitored through drones, geo-fencing, RFID tags, and AI-powered check gates. Now, the state is set to introduce 'Weigh-In-Motion' (WIM) technology to accurately track vehicle overloading. Also Read | 'Arvind Kejriwal Used Government Funds to Buy Mobiles Costing Up to INR 1.63 Lakh', Claims Delhi Minister Ashish Sood. According to the official re ...Read More >
Mumbai (Maharashtra) [India], August 14: Medulla Communications Pvt. Ltd., one of the world's most awarded healthcare-specialist advertising agencies, has announced the launch of its new hub in Singapore. With over 15 years of experience in solving complex healthcare challenges, Medulla is now looking to create a super-specialist category as the first digital healthcare advertising agency in Asia. New Hub to Deliver Scalable, Specialist Healthcare Marketing Solutions Across APAC. Also Read | New Cheque Clearing System: Banks To Clear Cheques Within Few Hours Starting October 4, Announces RBI. ...Read More >
New Delhi, Oct 19 (PTI) The Election Commission has reactivated its economic intelligence panel after a gap of six years to curb the use of money, liquor and drugs to influence voters ahead of the Bihar polls. The Multi-Departmental Committee on Election Intelligence (MDCEI) met here on Friday for the first time since 2019 to fine-tune the strategy of enforcement agencies and central police forces to prevent the use of money power and freebies to sway voters in poll-bound Bihar. The committee was formed in 2014 ahead of that year's general elections. Officials said the committee met ahead o ...Read More >
New Delhi, Nov 26 (UNI) The existing PAN (Permanent Account Number) card holders are not required to apply for new PAN under the upgraded system (PAN 2.0) which has been approved by the central government, apex direct tax policy-making body Central Board of Direct Taxes (CBDT) said on Tuesday. The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on November 25, 2024 approved the Income Tax Department's PAN 2.0 project aimed at upgrading the existing PAN system and making it more user-friendly. The CBDT said in a press release on Tuesday that the PAN 2.0 pr ...Read More >
New Delhi [India], October 19 (ANI): The Central Board of Indirect Taxes and Customs has extended the GSTR-3B filing deadline to October 25, 2025, for both monthly filers (September 2025) and quarterly filers. This extension by CBIC was announced via Notification No. 17/2025 - Central Tax, dated 18.10.2025. Also Read | Rachel Zegler To Star in Biopic of Cuban-American Singer-Songwriter and Actress Gloria Estefan. GSTR-3B is a monthly self-declared summary return that taxpayers must file under the Goods and Services Tax (GST) regime in India. It includes details of outward supplies, inward ...Read More >
New Delhi: Good news for taxpayers! The Finance Ministry has extended the deadline for filing Income Tax Returns (ITR) for the assessment year 2025-26 to 15 September 2025, giving everyone an extra 46 days beyond the original cut-off of 31 July. The extension comes in response to delays in return processing and the recent rollout of updated ITR filing utilities. This year, the Income Tax Department rolled out the Excel utilities for ITR-1 and ITR-4 on 29 May, nearly two months later than usual. These utilities help taxpayers file their returns accurately whether online or offline by ensuring ...Read More >
New Delhi, Nov 26 (UNI) The existing PAN (Permanent Account Number) card holders are not required to apply for new PAN under the upgraded system (PAN 2.0) which has been approved by the central government, apex direct tax policy-making body Central Board of Direct Taxes (CBDT) said on Tuesday. The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on November 25, 2024 approved the Income Tax Department's PAN 2.0 project aimed at upgrading the existing PAN system and making it more user-friendly. The CBDT said in a press release on Tuesday that the PAN 2.0 pr ...Read More >
New Delhi [India], July 10 (ANI): The central government has granted tax-saving status to PSU renewable projects financing company IREDA Ltd's bonds under Section 54EC of the Income Tax Act. This will facilitate low-cost fundraising for renewable energy and offer capital gains tax exemption to investors. Also Read | Ad Legend Prasoon Pandey Turns Film Director: MovieVerse Studios and Ellipsis Entertainment To Produce His Mythological Thriller. The Central Board of Direct Taxes (CBDT) under the Ministry of Finance has notified bonds issued by the Indian Renewable Energy Development Agency Lt ...Read More >
Jaipur (Rajasthan) [India], July 18 (ANI): Former Chief Minister of Rajasthan and Congress leader Ashok Gehlot on Friday expressed his support for Rahul Gandhi witch-hunt remarks regarding the Enforcement Directorate (ED) chargesheet against his brother-in-law and businessman Robert Vadra. Gehlot criticised the ED investigation and further alleged that the central government is misusing various agencies, including the ED, CBI, and the Income Tax department. Rahul Gandhi has rightly said, and I have tweeted too, that this method is wrong... It take them (ED) 10 years to investigate?... This g ...Read More >
VMPL New Delhi [India], August 14: Ellenox, India's largest venture studio, is accelerating its global push in enterprise AI development. In the past year, the company has grown its headcount by 50% over the last year, bringing in senior AI talent from Amazon and Google to power its next phase of expansion. Already delivering AI transformation for Fortune 50 leaders in fintech, cloud computing, consumer social, and sports-tech, Ellenox has built systems that replace costly call centers with natural-voice AI agents and deployed end-to-end social media pipelines capable of scaling global brand ...Read More >
New Delhi, Sep 1 (PTI) TCA Kalyani has assumed charge as the Controller General of Accounts (CGA) in the Department of Expenditure, the finance ministry said on Monday. A 1991-batch officer of the Indian Civil Accounts Service (ICAS), Kalyani is the 29th officer to hold this prestigious position. Before assuming charge as CGA, Kalyani served as the Principal Chief Controller of Accounts (Pr CCA), Ministry of Home Affairs, where she oversaw the budgeting and accounting of one of the largest Ministries of the central government. Kalyani is a Gold Medalist of the University of Delhi with a BA ...Read More >
New Delhi, September 16: The Central Board of Direct Taxes has decided to further extend the due date for filing the Income Tax Returns (ITRs) for Assessment Year (AY) 2025-26 from September 15 (Monday) to September 16 (Tuesday), a notification read. Taking to X late on Monday night, Income Tax India, which is the official account of the Income Tax Department, wrote: "KIND ATTENTION TAXPAYERS! The due date for filing of Income Tax Returns (ITRs) for AY 2025-26, originally due on 31st July 2025, was extended to 15th September 2025. "The Central Board of Direct Taxes has decided to further exte ...Read More >
New Delhi: The income tax department has extended the deadline for filing income tax returns (ITRs) for Assessment Year 2025-26 by a day to September 16 as technical glitches disrupted filings on the last day. A record over 7.3 crore ITRs were filed till September 15, surpassing last year's 7.28 crore, the Central Board of Direct Taxes (CBDT) said in a post on X. "To facilitate further filings of ITRs, the due date has been extended by one day (16th September 2025)," the CBDT said. The e-filing portal faced huge traffic on Monday, which was the last date for filing ITRs for AY 2025-26. Also, ...Read More >
New Delhi | Existing Permanent Account Number (PAN) card holders are not required to apply for a new one under the upgraded PAN 2.0 system that is primarily aimed at introducing a 'common identifier' for all business-related activities, the Income Tax Department said on Tuesday. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, had approved the Rs 1,435-crore PAN 2.0 Project to streamline and modernise the process of issuing and managing PAN and TAN, making it more user-friendly and efficient. PAN is a unique 10-digit alphanumeric number issued by the ...Read More >