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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 a ...Read More >
New Delhi: The country's largest carmaker Maruti Suzuki has announced the rollout of its first made-in-India electric vehicle - the e-Vitara SUV - in a major boost to the green segment from its upgraded Gujarat plant, which is now set to become one of the world's largest automotive manufacturing hubs with a projected annual capacity of one million units. Crucially, this facility will serve as Suzuki's global production base for electric vehicles (EVs), exporting to over 100 countries, including ...Read More >
New Delhi [India], August 28 (ANI): A decline in the Goods and Services Tax (GST) rate has a higher multiplier effect of 1.08x compared with direct taxes, according to a report by Ambit Capital. If the benefits of this cut are passed on to consumers, it can boost the country's GDP growth. It stated "A decline in GST rate has a higher multiplier effect (1.08x) than direct taxes. If passed on to consumers, it can add 20-50bps to GDP growth". The report said, a decrease in income tax rate would ...Read More >
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday. Talking to PTI, Central Board of Direct Taxes (CBDT) member (Legislation) RN Parbat also said the department will come out with a fresh set of FAQs on the new Income Tax Act and come out with SoPs and guidance notes. President Droupadi Murmu, on August 21, gave her as ...Read More >
Hyderabad (Telangana) [India], August 25 (ANI): All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi on Monday questioned the independence of investigative agencies and raised concerns over the validity of the proposed 130th Constitutional Amendment Bill. He also requested Lok Sabha Speaker Om Birla to include him in the Joint Parliamentary Committee (JPC) reviewing the bill. The Constitution (One Hundred and Thirtieth Amendment) Bill, 2025, introduced in the Lok Sabha on Augus ...Read More >
New Delhi, August 22: The government has officially notified the Income Tax Act, 2025, which consolidates and amends the income tax law provisions, replacing the over six-decade-old Income Tax Act, 1961. The Act received the President's assent on August 21, according to a gazette notification issued by the Ministry of Law and Justice. The new simplified Act, which will come into effect from April 1, 2026, does not impose any new tax rate and only simplifies the language, making it easier to unde ...Read More >
Barring discussions on Operation Sindoor in both House, the session has seen little business ever since it began on July 21 due to repeated disruptions and adjournments initially due to opposition demand for discussion on Operation Sindoor and then over demands for a discussion on the Special Intensive Revision exercise in Bihar Twelve bills were passed by the Lok Sabha and 14 by the Rajya Sabha during the month-long monsoon session of Parliament, which has witnessed repeated disruptions, adjou ...Read More >
New Delhi [India], August 21 (ANI): Parliament passed 15 bills during the monsoon session that saw continuous protests from the opposition members over their demand for debate on Special Intensive Revision (SIR) of electoral rolls in Bihar, with several legislations passed without debate. Rajya Sabha and Lok Sabha were adjourned sine die a day before the scheduled ending of the monsoon session, which commenced on July 21. The Session saw 21 sittings spread over 32 days. Apart from the bills pa ...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. ...Read More >
Mumbai (Maharashtra) [India], August 20 (ANI): Ahead of the 12th season of Pro Kabaddi League (PKL), Bengaluru Bulls coach BC Ramesh spoke on his team focus on defence for this season, saying that the aim is to have one of the best defensive units. The 12th season of PKL will kickstart from August 29 onwards, with the one-time PKL champion set to play Puneri Paltan on that day during their campaign opener. Speaking ahead of the tournament during a media day organised by JioStar, Ramesh said, T ...Read More >
New Delhi [India], August 18 (ANI): An overhaul in GST rate slabs, coupled with support from other measures such as personal income tax cuts, monetary policy easing, signs of pickup in job growth and improving real wages, improve the in outlook for consumption and domestic demand India, according to a report by Morgan Stanley. The central government is likely to conduct a major overhaul of GST, a major source of indirect tax rates. Morgan Stanley, in a report dated August 17, said this next-ge ...Read More >
New Delhi, Aug 14 (SocialNews.XYZ) India's economic expansion and its GDP growth are clearly on the right path despite geopolitical turbulence and tariff uncertainties, and this is showing in numbers too, economist Akash Jindal said on Thursday. Citing economic resilience and sustained fiscal consolidation, global credit ratings agency S&P Global has upgraded India's long-term unsolicited sovereign credit rating to "BBB" from the earlier "BBB-", ahead of the 79th Independence Day. Reacting to ...Read More >
New Delhi: The Income Tax Bill 2025 approved by the Rajya Sabha on Tuesday August 12, 2025 is set to replace more than six decades old Income Tax Act 1961. The Income Tax Bill 2025 was on Monday passed by the Lok Sabha after some 285 recommendations from the Parliamentary Select Committee was incorporated. A day after the modified Income Tax bill was passed by the lower house of the Indian Parliament, it was tabled by Union Finance Minister Nirmala Sitharaman in the upper house. The Rajya Sabh ...Read More >
New Delhi: The deadline to file your Income Tax Return (ITR) for the financial year 2024-25 (assessment year 2025-26) has been extended to September 15, 2025. This gives taxpayers an extra 46 days beyond the original July 31 deadline, offering more time to gather documents, review financial details, and complete the filing process without rushing. With just about a month left until the September 15 deadline, around 2.93 crore income tax returns have been filed so far this year since filing bega ...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 na ...Read More >
New Delhi: The government has introduced four amendments to the Income Tax Act, 1961, relevant for FY 2025-26, but included in the Income Tax Bill, 2025, applicable for FY 2026-27, Union Finance Minister Nirmala Sitharaman has said. The major amendment grants tax exemption on dividends, interest, and long-term capital gains to sovereign wealth funds and pension funds investing in infrastructure from April 1, 2020, to December 31, 2030, subject to notification. The Public Investment Fund (PIF) ...Read More >
NEW DELHI: The government has introduced four amendments to the Income Tax Act, 1961, relevant for FY 2025-26, but included in the Income Tax Bill, 2025, applicable for FY 2026-27, Union Finance Minister Nirmala Sitharaman has said. The major amendment grants tax exemption on dividends, interest, and long-term capital gains to sovereign wealth funds and pension funds investing in infrastructure from April 1, 2020, to December 31, 2030, subject to notification. The Public Investment Fund (PIF) ...Read More >
Lok Sabha passes two major legislation in a consequentail sitting, the Income-Tax Bill, 2025 and the Taxation Laws (Amendment) Bill, 2025 amid protest by opposition members over SIR. In a brief but consequential sitting on Monday, the Lok Sabha passed two major financial legislations the Income-Tax Bill, 2025 and the Taxation Laws (Amendment) Bill, 2025 amid loud protests by opposition members over the Special Intensive Revision (SIR) of electoral rolls. The Bills were moved by Union Finance M ...Read More >
Aug 14 (Reuters) - Australian power producer Origin Energy (ORG.AX), opens new tab signalled higher operating earnings at its energy retailing segment in the coming year on Thursday after reporting better-than-expected 2025 earnings, sending its shares to the highest in over a decade. The country's largest gas and electricity retailer forecast underlying operating earnings from its Energy Markets division between A$1.4 billion and A$1.7 billion ($916.4 million-$1.11 billion) in fiscal 2026. Th ...Read More >
* A person does not become Indian citizen by possessing documents like Aadhaar or PAN card, said high court * The Citizenship Act 1955 defines who can acquire or lose Indian citizenship * The Citizenship Act of 1955 is the main law for deciding questions about nationality in India, said the court Did our AI summary help? Let us know. Switch To Beeps Mode Mumbai: A person does not become a citizen of India merely by possessing documents like Aadhaar card, PAN card or a voter ID, the Bombay ...Read More >
New Delhi: The Revised Income Tax Bill was passed in Lok Sabha on Monday, marking a significant update to India's tax framework. Finance Minister Nirmala Sitharaman reintroduced the Income-Tax (No. 2) Bill, 2025, which aims to replace the longstanding Income Tax Act of 1961. This legislation was passed without debate, amid protests from the Opposition. ...Read More >
New Delhi: A total of 1.3 lakh minors have been enrolled under the NPS Vatsalya Scheme, the Union government informed the Parliament. In a written reply in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said that 130 thousand minor subscribers are registered under the NPS Vatsalya Scheme from September last year till August 3. The NPS Vatsalya Yojana, also known as the National Pension System Vatsalya, is a retirement savings scheme designed for minor children in India. Also Re ...Read More >
New Delhi, August 8: A turbulent session in the Lok Sabha on Friday witnessed repeated appeals for order as Opposition members staged a protest in the well of the House, prompting the chair, presided over by Krishna Prasad Tenneti, to adjourn proceedings for the day. Despite the disruption, the House transacted brief business, with Finance Minister Nirmala Sitharaman formally withdrawing the Income Tax Bill 2025 as reported by the select committee. The withdrawal was cleared through a voice vot ...Read More >
New Delhi: The government has extended the Income Tax Return (ITR) filing deadline to September 15, 2025. This gives taxpayers more time to choose between the old and new tax regimes, depending on what suits them best. If you are a salaried employee or pensioner without business income, you can switch between regimes every year just by selecting the correct option while filing ITR-1 or ITR-2. However, if you have business or professional income, the rule is stricter. You can switch back to the ...Read More >
New Delhi, Aug 3 (SocialNews.XYZ) With the income tax return (ITR) filing date extended to September 15, taxpayers have more time to decide whether to choose the old or new tax regime. Salaried employees or pensioners without business income can change their tax regime at any time prior to filing their ITR every year by simply selecting the relevant option on the ITR-1 or ITR-2 form. With commercial or professional income, the regulations are stricter. Only once in your lifetime may you return ...Read More >
New Delhi, July 20: The Monsoon Session of Parliament will commence on Monday and continue until August 21, during which the Central government is scheduled to introduce eight new Bills. The government's top agenda item is the Income-Tax Bill, 2025, which was introduced in the Lok Sabha during the Budget Session of Parliament on February 13. The bill, along with the amendments, has been adopted by the select committee of Parliament headed by BJP MP Baijayant Jay Panda. The bill will be sent for ...Read More >
A day before the monsoon session of Parliament, Aam Aadmi Party (AAP) MP Sanjay Singh on Sunday said that his party will raise several key issues, including US President Donald Trump's repeated claims of mediating a ceasefire between India and Pakistan for a proposed US trade deal. Demanding a clarification from the centre, Singh said that Prime Minister Narendra Modi must give a statement regarding Trump's claims of "ceasefire" in the name of the trade deal. "The first question is related to ...Read More >
New Delhi [India], July 20 (ANI): A day before the Monsoon Session of Parliament, Rashtriya Janata Dal (RJD) MP Manoj Kumar Jha on Sunday criticised US President Donald Trump, calling him eager to become the 'Sarpanch of the world.' Jha's remarks came after Trump's repeated claims of mediating a ceasefire between India and Pakistan in exchange for a proposed US trade deal. Jha also raised concerns over the Pahalgam terror attack and Operation Sindoor and called for discussions in the Monsoon s ...Read More >
New Delhi: A day before the Monsoon Session of Parliament, Rashtriya Janata Dal (RJD) MP Manoj Kumar Jha on Sunday criticised US President Donald Trump, calling him eager to become the 'Sarpanch of the world.' Jha's remarks came after Trump's repeated claims of mediating a ceasefire between India and Pakistan in exchange for a proposed US trade deal. Jha also raised concerns over the Pahalgam terror attack and Operation Sindoor and called for discussions in the Monsoon session on why India was ...Read More >
New Delhi [India], July 20 (ANI): A day before the Monsoon Session of Parliament, Rashtriya Janata Dal (RJD) MP Manoj Kumar Jha on Sunday criticised US President Donald Trump, calling him eager to become the Sarpanch of the world. Jha remarks came after Trump repeated claims of mediating a ceasefire between India and Pakistan in exchange for a proposed US trade deal. Jha also raised concerns over the Pahalgam terror attack and Operation Sindoor and called for discussions in the Monsoon session ...Read More >
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