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, 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 Tax website is here. Simpler to navigate and faster to use," the department said. "One place to access all Income Tax related information. Meet Kar Saathi, your AI companion to help make your Direct Tax related journeys easier," it added. The move is part of the government's broader push to modernise tax administration and improve user experience through technology. The AI chatbot, Kar Saathi, is expected to provide round-the-clock assistance to taxpayers via the department's website. The initiative was earlier highlighted by Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal during the launch of 'PRARAMBH', an outreach programme aimed at ensuring a smooth transition to the new Income Tax Act, 2025. He had said that digital services, including the new website and guidance tools, will be rolled out in phases to create a seamless and technology-driven system. Agrawal described PRARAMBH, which stands for Policy Reform and Responsible Action for Mission Viksit Bharat, as a major step in India's tax administration journey. He said the transition to the new tax framework is not just about introducing a new law, but also about making the system simpler, clearer and more reliable for taxpayers. As part of the simplification exercise, the number of rules has been reduced significantly from 510 to 333, while the number of forms has been cut from 399 to 190. This reduction is expected to ease compliance and may eliminate requirements for over six crore transactions.
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 >
Bengaluru (Karnataka) [India], December 13: IIFL Capital Services Limited (formerly IIFL Securities Limited) today announced the unveiling of its state-of-the-art office in Bengaluru, dedicated to wealth management services for High Networth Individuals (HNIs) and Ultra High Networth Individuals (UHNIs). IIFL Capital Services is one of the largest wealth managers in India, with about $30 billion (Rs 2.5 lac crore) worth of assets under management, advice and custody. Also Read | Big score is just around the corner for Steve Smith, Skipper Pat Cummins Backs Star Batter Ahead of IND vs AUS 3rd ...Read More >
WarmUp Ventures Founders L to R - Rajendra Lora ,Yogesh Chaudhary , Sharad Bansal Athera Venture Partners has roped in HDFC AMC's fund of funds as an LP for its Fund IV, while Warmup Ventures is launching its second fund. HDFC AMC invests in Athera's Fund IV Tech-focused venture capital fund Athera Venture Partners, formerly known as Inventus India, on Wednesday said that HDFC's fund of funds has invested in its Fund IV, which is scheduled to close in 2025. HDFC AMC's Select AIF FoF I Scheme will be a dominant LP in Athera's Rs 900-crore fund to be invested into fast-growing tech startups ...Read More >
New Delhi [India], January 8 (ANI): The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (EY India). EY India also asks for deferring tax deduction at source (TDS) on PF interest rate (above 2.5 lakhs) until the withdrawal stage to reduce compliance burden. In the previous budget TDS rate rationalization was undertaken to a certain extent. To further simplify th ...Read More >
The Indian government launched the Rs. 1,435 crore PAN 2.0 project. Announced by Information and Broadcasting Minister Ashwini Vaishnaw, the project aims to establish the PAN number as a common business identifier across all government digital systems. PAN 2.0 Project Launch The Rs. 1,435 crore PAN 2.0 the project aims to establish the PAN number as a common business identifier across all government digital systems. CCEA Approval The Cabinet Committee on Economic Affairs (CCEA) approved the project under the Income Tax Department. As per Information and Broadcasting Minister Ashwini Vaish ...Read More >
The financial repercussions of Parliament disruptions are considerable, impacting both public resources and the productivity of the nation's legislative process. However, both the Lok Sabha and Rajya Sabha have cumulatively functioned for merely 2 hours, with daily disruptions and sloganeering resulting in adjournments. The Rajya Sabha faced disruptions today (December 2) as Vice Chairman Jagdeep Dhankhar expressed discontent over sloganeering by Opposition MPs. The protests, which centered around demands for discussions on key issues, forced the Vice Chairman to adjourn the session until 12 ...Read More >
Kottayam: Chief Minister Pinarayi Vijayan said Kerala and Tamil Nadu have always supported each other, establishing a model of cooperative federalism. He said that when rights of states are being encroached upon, such cooperation should be extended among others. Tamil Nadu Chief Minister MK Stalin and Vijayan inaugurated the Thanthai Periyar Memorial and Library in Vaikom in Kerala on Thursday, marking a significant occasion in the commemoration of the legacy of social reformer Periyar E.V. Ramasamy. Several key political leaders from both Tamil Nadu and Kerala, underscored the longstanding ...Read More >
New Delhi, Dec 31 (IANS) The year 2024 has been historic for Indian startups as the government abolished the angel tax (a tax levied on investing in startups), which improved Indian startups' funding and enabled them to raise more than $12 billion. Along with this, food delivery company Zomato managed to make its place in the Sensex, the index of top companies in the country. Indian startup companies crossed the magical figure of getting $150 billion in funding in 2024. Between 2014 and 2024, new-age tech companies raised more than $151 billion in funding. Startups raised the highest funding ...Read More >
New Delhi, January 31: Prime Minister Narendra Modi on Friday said that the new BJP government will probe all corruption cases against the 'AAPda' government to bare its 'kuccha chittha' (dubious deals) and vowed to rid the city of 'loot aur jhooth ki Aapda' (disaster of lies and loot). Addressing an election rally in Dwarka ahead of the February 5 Assembly polls, PM Modi said after the BJP government is formed, an Assembly session will be called to table the CAG report to expose the financial lapses of the 'AAPda' government. "Jinhone Dilli ko loota hai, unhe lotana hi parega (Those who have ...Read More >
New Delhi, May 20 (SocialNews.XYZ) Fintech company MobiKwik has reported a wider consolidated loss of Rs 56.03 crore in the fourth quarter of the financial year 2024-25 (Q4 FY25), compared to a small loss of just Rs 67 lakh in the same quarter last fiscal (Q4 FY24). The company's loss also increased from Rs 55.2 crore in the previous quarter (Q3 FY25), according to its stock exchange filing. For the full financial year FY25, MobiKwik recorded a loss of Rs 121.5 crore. This is a major setback for the Gurugram-based firm, which had posted a profit of Rs 14 crore in the previous fiscal year (FY ...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 >
New Delhi: PwC India's report, titled Global Entertainment and Media Outlook 2024-28: India Perspective, brings promising insights into the country's showbiz industry. The report reveals that Indian entertainment and media industry is projected to surpass the global growth rate of 4.6 per cent by achieving a compound annual growth rate (CAGR) of 8.3 per cent. It is on its way to reaching a market size of Rs 365,000 crore (USD 44.2 billion) by 2028. So, where does India rank globally? The United States currently leads the market by revenue, followed by China. India, on the other hand, holds th ...Read More >
Bengaluru, Dec 15 (VOICE) Former Minority Commission Chairman Anwar Manipaddy on Sunday refuted the bribery charge levelled by Chief Minister Siddaramaiah, saying the Congress leaders have been offering him bribes to suppress the Waqf encroachment report. CM Siddaramaiah on Saturday alleged that BJP state president B.Y. Vijayendra "tried to bribe" the former Minority Commission Chairperson during the previous government with Rs 150 crore to suppress a probe into the Waqf property encroachment. Speaking to the media, Anwar Manipaddy stated that if Chief Minister Siddaramaiah has any genuine co ...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 >
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 >
Infosys has announced an average 85% performance bonus for eligible employees in Q2 FY25, reflecting its strong financial performance. The bonus, paid to mid- and junior-level staff, will be credited with the November salaries, with individual payouts varying based on performance. This follows Infosys' impressive 4.7% rise in Q2 net profit and a revenue increase of 5.1%, leading to an upward revision of its FY25 revenue guidance. The bonus payout surpasses the previous quarter's 80%, with Infosys outpacing rivals like TCS. Employees are also awaiting salary hikes, with revisions expected from ...Read More >
Sunmei Hotels Group has announced the launch of Sunmei Group International (SGI) and three new overseas brands—SHANKEE, PENRO, and LANOU—marking its expansion into the UAE market. The company plans to introduce SHANKEE Hotels, a smart economy brand, to cities like Dubai, Abu Dhabi, and Riyadh. SGI focuses on smart marketing, modular renovations, and intelligent operations, leveraging big data and AI to enhance service and guest experiences. Chairman Ma Yingyao aims to open 100 hotels globally within the next decade, doubling revenue and establishing a strong international presence for Chinese ...Read More >
The books for class 9-12 will be available from 2026-27. New Delhi: The National Council of Educational Research and Training (NCERT) has reduced the prices of books for classes 9 to 12 by 20 per cent. The decision was announced by NCERT Director Dinesh Prasad Saklani during an event held in the national capital on Monday. The reduction in the prices of books will be effective from the upcoming academic year. News agency PTI quoted the minister as saying that while the textbooks for classes 9- ...Read More >
New Delhi, Dec 18 (PTI) Net direct tax collection grew 16.45 per cent year-on-year to over Rs 15.82 lakh crore till December 17 this fiscal, buoyed by higher advance tax mop-up, government data showed. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore. The collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax mop-up of Rs 7.97 lakh crore. Securities Transaction Tax (STT) of Rs 40,114 crore was collected between April 1-December 17 of current fiscal year. Refunds worth Rs 3.39 lakh crore were issued during the period, registering a ...Read More >
Agartala, Jan 31 (VOICE) Tripura has 73 per cent reserve forest cover and absorb huge carbon from the atmosphere, Tripura Chief Minister Manik Saha said, adding that keeping this in mind, the state government has sought 20 per cent devolution of taxes in the forests and ecology category to the 16th Finance Commission, which is now visiting the state.The 16th Finance Commission headed by its Chairman Arvind Panagariya arrived in Tripura on Wednesday on a four-day visit to the state and held a series of meetings with the Tripura council of ministers headed by the Chief Minister. The Commission ...Read More >
Thiruvananthapuram: In his budget for 2025-26, Finance Minister K N Balagopal emphasised on technology, research, jobs, and education, positioning the state as a knowledge powerhouse. Here are key allocations and initiatives that could fuel the state's knowledge economy vision. Technology & AI * Rs 10 crore for establishing a world-class GPU cluster in Thiruvananthapuram to develop AI and AVGC (Animation, Visual Effects, Gaming, and Comics) industries. Unlike a CPU (Central Processing Unit), optimised for sequential tasks, a GPU (Graphics Processing Unit) excels at parallel processing, maki ...Read More >
- Renewed homepage of Samyang's industrial water treatment solution brand, 'TRILITE' ... Featuring AI chatbot 'TRIGENT' and Design programs 'TriAngle' - Providing tailored and technical information to the user's queries ... Service available in over 100 languages. - Innovative Water Treatment Design Softwares... Ion Exchange Resin and RO membrane SEOUL, South Korea, Nov. 26, 2024 /PRNewswire/ -- Samyang Corporation (CEO Kang Ho-sung) introduced its new website for its water treatment solutions brand, 'TRILITE' (http://www.samyangtrilite.com), along with the launch of an innovative Artificia ...Read More >
Uber has launched India's first Shikara ride on Srinagar's Dal Lake, offering a unique and scenic experience. This new service allows passengers to enjoy the tranquil beauty of the lake while riding in a traditional Shikara boat. Booking is easy through the Uber app, with rides available daily from 10 AM to 6 PM. This initiative aims to boost tourism in the region while providing locals with a new way to experience the lake. With Uber's entry into the Shikara market, visitors can now enjoy a blend of modern convenience and traditional charm on Dal Lake. ...Read More >
New Delhi, December 4: In a significant move to enhance customer experience and protect citizens, the Lok Sabha on Wednesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts. The higher number of nominees aims to reduce unclaimed deposits in banks. Finance Minister Nirmala Sitharaman said that depositors will have the option of successive or simultaneous nomination facility, while locker holders will have only successive nominations. Another sweeping change relates to redefining 'substantial interest' for directors ...Read More >
For investors, this means that any profits made from selling cryptocurrencies will now be subject to capital gains tax.Source : Ewan Kennedy/Unsplash The Income Tax Appellate Tribunal (ITAT) in Jodhpur has provided much-needed clarity on the taxation of cryptocurrencies in India. The ruling recognises cryptocurrencies as capital assets, setting a framework for how profits from their sale are taxed, especially for transactions made before the Government introduced specific guidelines for Virtual ...Read More >
New Delhi [India], February 5 (ANI): Bharatiya Janata Party leader Amit Malviya on Wednesday slammed Leader of Opposition Rahul Gandhi over his 'Make in India' criticism and blamed Congress for 'doing nothing' to prepare India's economy for future even after a decade in power during the United Progressive Alliance (UPA) government from 2004-2014. Malviya said said that the Congress-led UPA continued the "legacy of policy paralysis, rampant cronyism, and complete neglect of industrial growth." "It is good that Rahul Gandhi has finally acknowledged a fact the entire nation already knew--that e ...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 >
India Budget: The Union Budget 2025-26 should prioritise giving tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from ₹3 lakh to ₹5 lakh and lowering tax rates, according to Ernst & Young India (EY India), a global consulting firm. EY India also recommended delaying the tax deduction at source (TDS) on provident fund (PF) interest above ₹2.5 lakh until the withdrawal stage to reduce the compliance burden on taxpayers. Also Read: India to simplify decades-old income tax filing rules in Budget In the last budget, some TDS rate rationalisation was intro ...Read More >
Baghpat (Uttar Pradesh) [India], January 28 (ANI): Union Minister Arjun Ram Meghwal has sought AAP convener Arvind Kejriwal's apology from the nation after BR Ambedkar's statue was vandalised in Punjab's Amritsar on January 26. A youth has vandalised the life-size statue of Ambedkar in Amritsar by climbing atop it and striking it with a hammer on Republic Day on Sunday. A video clip purportedly of the incident also went viral on social media. Also Read | Maha Kumbh Mela 2025: A Day Before Mauni Amavasya Amrit Snan, 5 Crore Devotees Take Holy Dip in Triveni Sangam on January 28, Total Pilgrim ...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 >