Business

Taxpayer chose new tax regime, but consultant filed the wrong form, triggering old regime and Rs 1.23 lakh demand; ITAT orders ITR to be processed under new tax regime and gives relief on tax demand

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The mistake subsequently translated into an additional tax demand. Filing your own income tax return can be a daunting and tedious process for many. That’s when you hire a consultant. But, what if the consultant mixes up your ITR between the new and old income tax regime? You may get a tax notice, and that’s … Read more

Trusted data key to evidence-based policymaking: Das

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NEW DELHI: Trusted, timely and interoperable data is key to evidence-based policymaking and data-driven governance, principal secretary to PM Shaktikanta Das said Tuesday in a workshop organised by statistics ministry on strengthening the national data system . MoSPI secretary Saurabh Garg also underscored the need to move from siloed departmental data systems towards an integrated, … Read more

US-Canada trade war: Old allies drift apart as US tariffs Ottawa’s dairy, alcohol and motorcycles

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US President Donald Trump with Canadian Prime Minister Mark Carney The US and Canada trade dispute escalated on Tuesday (local time) with Washington announcing fresh restrictions on Canadian goods, after Ottawa introduced new tariffs on American products.The latest US measures will hit Canadian alcohol, dairy products, motorcycles and mopeds, while Canadian goods will also face … Read more

Copper hits all-time high, Brent nears century mark

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MUMBAI: Copper and crude oil, two important industrial raw materials for several industries, are on a tear. According to notes from Vedanta and ICICI Securities, a combination of factors like tightening mine supply, especially from Chile, shifting global trade flows amid potential US tariffs on refined copper, and accelerating demand from electrification, renewable energy, power … Read more

Digital asset firms court sovereign funds

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Digital asset firms court sovereign funds NEW DELHI: Digital asset firms will court sovereign investors at a Delhi roundtable this week as India pursues “faster, cheaper international payments” while insisting replacing the dollar is not on its agenda. Brics Digital Asset Round Table will gather 50 industry leaders.Organiser SWFI said iBrics summit investors manage $1 … Read more

Husband died in 2006, and widow was paid PF and gratuity; she filed for pension in 2011 but window had closed in 2010, here’s what Delhi High Court said

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The Delhi High Court said the communication in question did not establish the truth of Devi’s claim. Her husband passed away in 2006 and she was not eligible for family pension. However, the bank her husband worked at opened a one-time pension eligibility window some years later which the widow applied for after the last … Read more

Flipkart: Flipkart widens lead against Amazon as quick commerce surges

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Flipkart grows users faster than Amazon (representative image) Flipkart is adding users faster than Amazon in India, widening its lead in online retail even as quick-commerce platforms rapidly expand and its own rapid-delivery business, Flipkart Minutes, closes in on established rivals less than two years after its launch.Flipkart and Myntra together accounted for 35% of … Read more

Crypto goes abroad, comes back as shopping money: How Indians are using overseas platforms to turn USDT, stablecoins into gift cards to buy groceries, fuel, food, mobile recharges and even gold

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The vouchers are closed-loop prepaid instruments issued by specific entities. The world of cryptocurrencies is a strange one. And the way some Indians are ‘round tripping’ cryptos is another interesting facet of it.Someone ‘earning’ crypto through either legitimate or illegal activities can also use it via international organisations, without the transaction necessarily passing through local … Read more