Department Financial News

Science and Technology Minister Jitendra Singh made the announcement here in the presence of NITI Aayog member V K Saraswat, Principal Scientific Advisor A K Sood and Department of Science and Technology (DST) Secretary Abhay Karandikar. The VAIBHAV or Vaishvik Bhartiya Vaigyanik fellows are from the topmost institutes of Australia, Canada, Finland, Japan, Singapore, Sweden, Switzerland, the UK and the US, and will work with Indian institutes such as IISc, IUCAA and the IITs for the next three years on jointly identified projects.

₹6,38,596 crore in 2013-14 to ₹16,63,686 crore in 2022-23. Official data further revealed that the income tax department is allocating increased resources to the collection of direct taxes, despite a substantial rise in the number of taxpayers. This trend suggests a growing reliance on advanced technology and enhanced compliance measures.

₹8,325 crore to the telecom department towards part prepayment of the deferred liabilities pertaining to spectrum acquired at the 2015 auction. The telecom company had won the spectrum worth ₹29,129.08 crore at the auctions that were held in March 2015. It had paid ₹11,374.7 crore, while the upfront amount due was ₹7,832.20 crore.

A case before the Supreme Court over an obscure fishing regulation could be devastating to the SEC’s ability to make new regulations and enforce the ones already on its books.

Hero MotoCorp has introduced the Xtreme 125R commuter motorcycle during the Hero World 2024 event, presenting a fresh addition to the sought-after segment. Priced at 95,000 (ex-showroom, Delhi), the Hero Xtreme 125R targets the higher echelon of the 125 cc commuter market, directly competing with the TVS Raider 125. Departing significantly from Hero's conventional commuter models, the Xtreme 125R boasts a highly fashionable design that distinguishes it from anything previously offered by the brand.

Dementia India Alliance (DIA) have signed a Memorandum of Understanding (MoU) to collaborate on advocacy, outreach, training, research work and support services for dementia care. According to Bengaluru-based NIMHANS, a premier institute for mental health and neuroscience in India, the collaboration aims to improve the overall quality of life of persons with dementia and their family caregivers through various modalities, they said.

Kerala government has announced that it will consider the absence of government employees participating in Wednesday's one-day strike as unauthorised and deduct one day's pay from their February salary, a TOI report stated. A group of state government employees, supported by opposition employee unions, has decided to go on strike on Wednesday. They are protesting against the delay in receiving dearness allowance arrears and other benefits. The government's decision regarding unauthorised absence was issued by the general administration department.

By Dawn Chmielewski

Investing.com — The S&P 500 and Dow closed at record highs Monday, with the latter ending above 38,000 for the first time as the tech melt-up continued ahead of busy week of corporate earnings and key economic data.

The United States Department of the Treasury’s Office of Foreign Assets Control has imposed new sanctions on facilitators and networks involved in crypto transactions linked to the Palestinian militant group Hamas.

Netflix is growing its animated series library, which is soon going to add The Fairly OddParents' new rebooted series, to be released as The Fairly OddParents: A New Wish. The Fairly OddParents of Nickelodeon first made its debut in 2011 running for 10 seasons till the late 2010s. Very recently, a live-action reboot was given to it on Paramount+, though it was not for long given the fact that the series was drawn in January 2023.

India Meteorological Department (IMD) on Monday said that a dense to very dense layer of fog is expected to engulf some parts of North India – Punjab, Haryana, Chandigarh, Uttar Pradesh, Rajasthan and north Madhya Pradesh – during the next five days. The National Capital Delhi and some neighbouring areas may also witness dense to very dense fog in the next 24 hours, prompting the weather department to issue a yellow alert for Tuesday. The weather department forecasted that cold to severe cold weather conditions are very likely to continue in some parts of Punjab, Haryana and north Rajasthan during the next 48 hours adding that many parts of Uttar Pradesh are also likely to see cold to severe cold weather conditions during next 4-5 days.

Delhi High Court on Monday quashed a Central Information Commission’s order (CIC) that asked the income tax authorities to furnish information and copies of documents submitted by the PM Cares Fund while applying for income tax exemptions. While allowing the income tax department’s appeal, Justice Subramonium Prasad ruled that CIC does not have the jurisdiction to direct furnishing of information provided for in Section 138 of the Income Tax Act and Section 138 (2) of the Income Tax Act prevails over Section 22 of the Right to Information Act (RTI Act). «In the present case, the question which arose was whether Section 138(2) of the IT Act which also contains a non-obstante clause would override Section 22 of the RTI Act or not. In view of the fact that Section 138(1)(b) of the IT Act mandates that information relating to an assessee can only be supplied subject to the satisfaction of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner, as the case may be, it can be said that Section 138(2) of the IT Act would prevail over Section 22 of the RTI Act,» the Court held. Even if the CIC had the jurisdiction to direct the department to provide the information, the Commission's failure to give PM CARES notice of hearing would in itself have vitiated the order, the HC said. Mumbai-based activist Girish Mittal had sought details regarding the tax exemption granted to the PM Cares Fund in May 2020.

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NEW YORK (Reuters) — The trial in writer E. Jean Carroll's latest civil case against Donald Trump resumes on Monday, with the prospect that the former U.S. president may for the first time testify in open court in the defamation case.

tax incentives, production linked incentive schemes, and the mandatory provision of charging infrastructure, a top government official said on Monday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that the development and adoption of Electric Vehicles (EVs) play a pivotal role in India's transition to a low-carbon economy.

Ram Mandir, telecom service providers including Reliance Jio, Bharti Airtel, Vodafone Idea and BSNL have together set up nearly 300 new towers, aimed at bolstering cellular and data traffic capacities. All telcos, put together, have set up 294 new towers and about 400 existing base stations have been upgraded, said a senior official from department of telecommunications told Mint. Additionally, 30 cell-on-wheels, or CoWs, have been strategically placed across the city to manage any sudden spikes in network usage, ensuring continuous 2G, 3G, 4G, and 5G service availability, he said.

income tax return (ITR) beyond December 31, you can make a proper request for the condonation of delay. Ideally, if you have missed the verification of filing your income tax return by the deadline, you are liable to face penalty. But the provision of ‘condonation of delay’ can come as a saviour.

tightened restrictions on the sale of American semiconductors to China. But Nvidia, the world’s most valuable chipmaker, had immediately started developing a new, slightly less powerful artificial-intelligence (AI) chip for the Chinese market, to which the restrictions would not apply. “If you redesign a chip…that enables [China] to do AI, I’m going to control it the very next day," Ms Raimondo warned.

Delhi endured another chilly day, marked by a drop in temperatures and widespread dense fog and cold conditions in northern India disrupted flights in New Delhi. According to the India Meteorological Department (IMD), the minimum temperature reached 4.8°C on Sunday, with the maximum temperature plummeting to 15.8°C. According to the IMD, dense to very dense fog and cold to severe cold day conditions are expected to persist over North India for the next four to five days.

NEW DELHI : The gross merchandise value (GMV) of state-run government e-marketplace (GeM) may be up by 75% and touch ₹3.5 trillion in the current financial year, as government departments have been busy procuring goods and services through the portal, two persons said. The expected GMV will be up by ₹1.5 trillion from the last fiscal’s ₹2 trillion.