Department Financial News

Transportation Secretary Pete Buttigieg is turning up the heat on Boeing

Stocks that traded heavily or had substantial price changes on Monday: Boeing, EQT fall; Choice Hotels, MicroStrategy rise

Shoppers who want to determine if their meat, eggs and poultry were “Made in the USA” are expected to find the task easier once a finalized federal rule takes effect

The U.S. commerce secretary says Washington is constantly assessing the need to expand export controls to stop China from acquiring advanced computer chips and manufacturing equipment that can be used to boost its military

Consumer prices likely rose last month at a pace that would exceed the Federal Reserve’s inflation target, underscoring why the Fed is being cautious as it considers when to cut interest rates and suggesting that inflation will remain a potent issue in...

Jharkhand on Tuesday got another Vande Bharat Express train, which will be operated between state capital Ranchi and Varanasi in Uttar Pradesh. The train was flagged off by Prime Minister Narendra Modi virtually from Ahmedabad along with the unveiling of several other railway projects in the state and across the country. The PM also flagged off the Hatia-Asansol Express and inaugurated the Ranchi-Bondamunda railway line. Stalls under the 'One Station One Product' scheme at Ranchi, Hatia, Govindpur Road, Itki, Muri, Piska, Silli, Tangarbasuli, Tatisilwai stations, Barkakana, Ranchi Road and Pradhan Khanta stations were also inaugurated by the PM.

Narendra Modi inaugurated metro operations at Kavi Subhash, Majerhat, and Esplanade stations on March 6. This marks a major milestone for the city's public transportation system, offering residents a faster, more convenient, and eco-friendly way to travel. The most anticipated addition is the Howrah Maidan-Esplanade stretch of the Green Line.

Ramadan, states in India are making modifications to school schedules to accommodate students attending Urdu and other minority language schools, Times of India reported. The Directorate of Urdu and Other Minority Language Schools in Karnataka has issued a circular altering the timings for Urdu primary and high schools, the report said. During Ramadan, these schools will operate from 8:00 am to 12:45 pm.

“Income Tax Department has received information about certain significant financial transactions relating to FY 2023-24 (AY 2024-25). Please view transactions under e-Campaign tab on Compliance Portal and remember to pay appropriate Advance Tax." If you have received such a message from the Income Tax department with an inflated tax demand, know that it is an error due to inaccurate reporting of certain financial transactions in the annual information statement (AIS). Chartered accountants told Mint that some taxpayers have received advance-tax notice in which certain reporting entities have reported faulty transactions.

dismissed the State Bank of India's request for an extended deadline to provide electoral bonds data, SBI is now pressed for time to meet the apex court's orders by the end of working hours today (March 12). SBI's management has directed the overseeing department — the transaction banking marketing department based in Mumbai to "hurry up" and "complete the task at the earliest" to meet the SC's deadline, Moneycontrol reported citing sources.

US House to vote on bill giving ByteDance 165 days to divest TikTok or face ban The U.S. House of Representatives is set to vote on Wednesday under fast-track rules that require two-thirds of members to vote "yes" for the measure to win passage. TikTok told Congress late Monday in a letter seen by Reuters it is "not owned or controlled by the Chinese government" and argued if the company was sold another buyer would not continue TikTok's $1.5 billion effort to protect U.S.

The DOL continued its fast-track pace on its fiduciary rule, sending a final version to the White House last week that will likely be released in a matter of weeks.

By David Shepardson

Quiver Quantitative — Wall Street's main indexes faced a cautious retreat on Monday as investors braced for the upcoming inflation data, seeking insights into the Federal Reserve's monetary policy trajectory. This mood of anticipation follows a mixed jobs report last week that sparked debate over the Fed's interest rate strategy. While the S&P 500 (GS) and Nasdaq stepped back from their recent highs, partly due to declines in the technology sector, particularly chip stocks, the labor market data fueled speculation about potential interest rate cuts. The focus is now shifting to the Consumer Price Index (CPI) data, which will offer further clarity on inflation trends and potentially influence the Fed's decisions on borrowing costs.

date night was becoming a financial strain. There has been a lot of theorising about why so many Americans feel worse off economically. True, real wages are now finally increasing, the labour market is great, the stock market is up, and consumers are spending. But none of this amounts to a complete picture of Americans' quality of life. And people will tend to think it has declined if things they value feel like a stretch.

NEW DELHI : Adani Electricity Mumbai Ltd, Torrent Power Surat, and Torrent Power Ahmedabad have topped in the power ministry’s integrated rating of electricity distribution companies, or discoms, for FY23. Dakshin Gujarat Vij Co. Ltd and Uttar Pradesh Vij Co.

There is bad news for those looking for a hike in the interest rates of small savings schemes for the coming quarter – April 1 to June 30, 2024 – as the government has announced that there will be no change in the interest rates of these schemes for this period.

The income tax department on Sunday said it has started sending emails and SMSs to assessees whose taxes paid during the current fiscal are not commensurate with financial transactions.The department is undertaking an e-campaign, which aims to inform such persons/entities of significant financial transactions, through email (marked as Advance Tax e-Campaign-Significant Transactions for AY 2024-25) and SMS, urging them to compute their advance tax liability correctly and deposit the due advance tax on or before March 15.

The Income Tax (IT) Department has launched an e-campaign to notify some taxpayers about mismatches in their income tax returns (ITRs) filed so far in FY24, a release issued by the finance ministry said on Sunday.

spectrum regulatory sandbox allowing entities including educational institutions, telcos and network manufacturers to test their equipment by paying a notional amount and doing registration. As per Communications Minister Ashwini Vaishnaw, through the sandbox, the Department of Telecommunications (DoT) will be giving easy permissions to test new equipment that requires use of spectrum. “Let’s say, a college design a new equipment which requires spectrum to be used for testing. Instead of coming to DoT for a license and a number of license conditions and a series of other requirements, can we create a very simple construct in which the college simply logs in through a portal and everything that needs to be done is done by paying a token amount of Rs 1000,” Vaishnaw said.

‘Compliance Portal’ launched by the Income-tax department is showing inaccurate/inconsistent financial information for several taxpayers, as per numerous complaints on social media and chartered accountants. As per chartered accountants, the compliance portal is showing highly inflated transaction value and advance tax liability. In this regard the Income-tax department has said on X in a post dated March 11, 2024, “Based on feedback from taxpayers on the e-campaign for Advance Tax, the Department has identified certain inconsistencies in the data of the securities market (SFT-17) provided by one of the Reporting Entities.