Department Financial News

IndiGo on Wednesday announced that all international flights operating from Chaudhary Charan Singh International Airport in Lucknow will arrive and depart from the newly built terminal 3, starting today. The low-cost carrier has taken «proactive measures to ensure that passengers are well-informed about this change.» The airline is reaching out to all passengers and their respective travel agents through SMS, calls, and emails, it said in a press release. To avoid any inconvenience, IndiGo has advised passengers to retrieve their PNR on the airline's website or mobile app to check their terminal before heading to the airport.

The Federal Trade Commission has referred a complaint against TikTok and its Beijing-based parent company to the Department of Justice

One of the first things the newly elected government announced was its intention to have its ministries and departments put in place a 100-day agenda of action. In this context, it is worth noting that the BJP, in its election manifesto, had promised that “we will further strengthen the capacity of statistical institutions to give impetus to data-driven policy making." Here, I outline some measures that can be taken over the next 100 days by the government’s statistical agencies towards that goal. Let’s begin with suggestions for the short-term.

Form 16 holds significant importance for employed individuals in India during the income tax filing process. It includes comprehensive information such as salary details, claimed deductions, and the tax deducted at source (TDS) by the employer throughout the fiscal year. This data automatically populates most sections of your tax return, streamlining the filing process by eliminating the need for manual data entry.

income tax return (ITR) form.To start with, you need the Annual Information Statement (AIS), which is essential for filing your ITR in India, serving as a comprehensive record of all your financial transactions reported to the Income Tax department. Here’s an overview of its significance and how it complements Form 26AS:Scope: The AIS offers a broader spectrum of information compared to Form 26AS.

Gujarat State Fertilizers & Chemicals Ltd (GSFC) share price gained more than 7% in morning trades on Wednesday. The Gujarat State Fertilizers & Chemicals (GSFC) share price remains in focus as news reports suggest that fertilizers may get some relief in taxes from the government.

Two employees of the U.S. Agriculture Department were assaulted and temporarily held by assailants in the Mexican state of Michoacan, prompting the U.S. government to suspend inspections of avocado and mango shipments

Future Capital, the tech-heavy RIA with a focus on personalized retirement planning, has unveiled an innovative tool to help address a long-time pain point for growth-focused advisors.

tax collection in the April 1-June 17 period, net of refunds, increased 20.99% year-on-year to ₹4.62 lakh crore, showed official data released on Tuesday. Net tax collection stood at ₹3.82 lakh crore in the year-ago period. The net direct tax collection comprised ₹1.81 lakh crore as corporate income tax and ₹2,81,013 crore as personal income tax, including securities transaction tax.

Shiladitya Chetia, an Indian Police Service (IPS) officer serving as secretary in the home and political departments in the Assam government, allegedly died by suicide. He took the step soon after he heard about his wife's death in the hospital. His wife had been suffering from cancer. Assam Director General of Police, G P Singh stated in X, “In an unfortunate turn of events, Shiladitya Chetia IPS 2009 RR, Secretary Home & Political Government of Assam, took his own life this evening, a few minutes after the attending physician declared the death of his wife who was battling cancer for a long time. Entire Assam Police family is in deep grief”.

onion prices in the domestic markets have almost doubled in the last one month, said trade sources who met commerce minister Piyush Goyal in the capital on Tuesday. «The government is in the mood to observe the movement of onion prices for a couple more weeks before it takes any decision on the export duty,» said an onion trader, who requested not to be identified. The average rate of onions at the benchmark Lasalgaon APMC was Rs 28/kg on Tuesday, up 40% during the last 15 days and double of what it was exactly a month ago.

Two top Democratic leaders in Congress have unblocked the sale of 50 F-15 jet fighters to Israel, paving the way for a major weapons deal that had been held up over concerns about the killing of thousands of civilians in the war in Gaza. The $18 billion sale is one of the largest arms deals with Israel in recent years, and comes as President Biden is facing calls from leaders in his own party to withhold American weapons in order to pressure Israeli Prime Minister Benjamin Netanyahu to accept an end to the Gaza war.

BlackRock chief investment officer of global fixed income Rick Rieder shares his playbook for stock investors and breaks down the impact of high rates on inflation on 'Barron's Roundtable.'

The Financial Supervisory Service (FSS) of Korea has addressed concerns about the rumored mass altcoin delistings , clarifying its limited involvement.

Income Tax Act, typically by employers, necessitates issuance of a certificate (most commonly Form 16). This certificate provides the following details to the individual from whom tax was deducted:For individuals new to filingIncome Tax Returns (ITRs), Form 16 serves several crucial purposes:Verification: It allowstaxpayers to verify if the deducted TDS aligns with the tax department’s records.Tax filing: Form 16 is essential for ITR filing as it pre-fills income and TDS details.Record-keeping: It acts as a comprehensive record ofTax Deducted at Source (TDS) deductions across the financial year.Section 203 mandates the issuance of this certificate, ensuring transparency and accountability in the TDS for both taxpayers and the government.Typically, the information in Form 16 should align with the prefilled ITR form since the income tax department uses data from Form 16 and similar documents for pre-population.

power ministry has announced it has directed all utilities to «maintain a high state of alert and minimize forced equipment outages» due to the increased electricity demand driven by the ongoing heatwave, particularly in the northern region where the monsoon has yet to arrive. The ministry's statement highlighted that the northern region has faced high electricity demand since May 17, 2024, due to the heatwave. Despite these tough conditions, the highest-ever peak demand of 89 GW in the northern region was successfully met on June 17, 2024. This was achieved by importing 25-30 percent of the region's power needs from neighboring regions, the ministry noted.

Boeing's CEO is getting his day in front of Congress, and lawmakers are expected to have many questions about safety at the troubled aircraft company

A group of Democratic members of Congress is seeking reassurances that workers at hospitals owned by Steward Health Care will have their health care and retirement benefits protected

The United States government has suspended inspections of avocados and mangoes in the Mexican state of Michoacan due to security concerns

Spencer joins after departing from Columbia Threadneedle Asset Management in April, when he and several other senior members of the firm left as part of the firm's restructure. He worked at Columbia Threadneedle for over a decade, originally joining BMO Asset Management's LLP multi-asset team as a partner, which was then became part of the former firm in 2021. Mark Harries joins Square Mile as CIO as Broomer steps down Prior to that, Spencer worked as a portfolio manager and vice president at Credit Suisse Asset Management, focusing on analysing and recommending equity and fixed in...

Boeing 737 Max jetliners plan to be in the room, watching him. CEO David Calhoun is scheduled to appear before the Senate investigations subcommittee, which is chaired by Sen. Richard Blumenthal, D-Conn., a Boeing critic. The hearing will mark the first appearance before Congress by Calhoun — or any other high-ranking Boeing official — since a panel blew out of a 737 Max during an Alaska Airlines flight in January. No one was seriously injured in the incident, but it raised fresh concerns about the company's best-selling commercial aircraft.