Department Financial News

Indian Railways updates trains' schedule for Lord Ram devotees | Full list here Uttarakhand Chief Minister Pushkar Singh Dhami has directed District Magistrates to keep 22 January as a dry day in the state. CM Dhami directed that prasad should be distributed in all major temples and Gurudwaras on January 22 and arrangements should be made for the distribution of prasad to the poor with public participation. Millets of Uttarakhand should be included as much as possible in the form of Prasad.

United States has announced that the online filing for H-1B applications for FY25 will begin in February. The US Citizenship and Immigration Services (USCIS) will also launch organizational accounts that will enable online collaboration and submission of H-1B registrations. USCIS will launch organizational accounts for non-cap filings and the fiscal year (FY) 2025 H-1B cap season. Organizational accounts will allow multiple individuals within an organization, such as a company or other business entity, and their legal representatives to collaborate on and prepare H-1B registrations, Form I-129, Petition for a Nonimmigrant Worker, and associated Form I-907, Request for Premium Processing Service, the USCIS said. USCIS will announce the availability of the organizational accounts and H-1B registration dates at the end of January. “USCIS is always striving to improve and streamline our processes, and this is a big step forward,” said USCIS Director Ur M. Jaddou. “Once we launch the organizational accounts and online filing of I-129 H-1B petitions, the entire H-1B lifecycle becomes fully electronic — from registration, if applicable, to our final decision and transmission to the Department of State,” she added. «Once the portal is ready to accept online filings, H-1B petitions (Forms I-129) and associated premium processing requests (Form I-907) may be filed,» explained Poorvi Chothani, managing partner of LawQuest. The H-1B registration process is only available online, she added.

Delhi on Saturday recorded its lowest minimum temperature of the season at 3.6 degrees Celsius and thick fog blanketed several parts of the city, the India Meteorological Department (IMD) said. On Friday, the national capital had recorded a minimum temperature of 3.9 degrees Celsius, the lowest in five years.

U.S. Secretary of State Antony Blinken on Friday raised concerns over China's human rights issues in a meeting with senior Chinese official Liu Jianchao in Washington, the State Department said, adding they also discussed «maintaining peace and stability» in the Taiwan Strait. WHY IT IS IMPORTANT

NEW DELHI : The Supreme Court has put on hold a Delhi High Court ruling that had allowed foreign investors to benefit from zero or reduced tax rates in India based solely on possessing a tax residency certificate. Foreign investors can avail these certificates, known as TRCs, based on treaties between India and tax haven countries such as Singapore and Mauritius. This Supreme Court’s decision on Friday was in response to a petition by tax authorities challenging the Delhi High Court’s decision in a case involving Blackstone Capital Partners, a Singapore-based company facing a tax notice of about ₹108 crore.

Morgan Stanley agreed to pay $249 million to the Justice Department and Securities and Exchange Commission to end a years-long US investigation into block trading that rattled the industry.

Digital Currency Group subsidiary Genesis Global trading will pay an $8 million penalty and surrender its license from the regulator after an investigation found significant failings in the company's anti-money laundering and cybersecurity programs. Genesis — a cryptocurrency market-maker and brokerage firm — failed to maintain an effective compliance program for anti-money laundering and Bank Secrecy Act requirements and did not file sufficient Suspicious Activity Reports, which requires financial institutions to flag certain transactions to law enforcement.

Mehbooba Mufti narrowly escaped a road accident, serious security lapses were evident. The management of Local Road Clearances for X Plus protected vehicles during the incident was inadequate, posing a significant security concern," senior PDP leader and former Jammu and Kashmir minister Naeem Akhtar said on X. Two persons, including a security personnel of the PDP chief, were injured on Thursday as Mufti had a narrow escape in a road accident at Sangam in Jammu and Kashmir's Anantnag district.

By Lucia Mutikani

Wells Fargo Advisors SVP Mark Smith and Osaic chief market strategist Phil Blancato analyze December inflation data and discuss how investors should play the bond market on 'Making Money.'

New Generation AKASH (AKASH-NG) missile from the Integrated Test Range (ITR), Chandipur off the coast of Odisha at 10.30 am today. The flight test was conducted against a high-speed unmanned aerial target at a very low altitude. During the flight test, the target was successfully intercepted by the weapon system and destroyed.

Shriram Subramanium, Founder & MD, InGovern, says “Polycab is very, very clear that they are not the company, they would have even yesterday said that we have nothing to hide. But that is not what they have said. They have said they have not received a notice. So they are not denying that there was a raid. They are just saying that they have not received a notice, which could be true. So, from that perspective, the Income Tax Department may not have sent a notice yet, but has put out a press release which I would think is a travesty of justice from a procedural perspective.” What is happening with Polycab because clearly the stock markets have been giving the stock quite a punishment and perhaps rightly so. If we are looking at the procedure that has been followed by the IT department of not sending a notice and asking for clarifications from the company first, is the procedure as per the norm? Shriram Subramanium: I would think not. At the end of the day, the income tax department by putting out a press release on 9th, that too late in the evening, saying that there is a wires and cables company on which unaccounted cash has been discovered etc. etc., is doing a disservice to any company for that matter.

local media reports, and has caused a schism in the community between those who support the tunnel and those who do not.The tunnel is believed to have been dug by students and young men in the community in a bid to expand the synagogue and annex additional space in the basement of an empty apartment building behind the headquarters, according to reporting by the New York Times and The Associated Press.When Chabad leaders called in a cement truck on Monday afternoon to seal up the passageway’s opening, supporters of the tunnel staged an impromptu protest to block the effort. The ensuing conflict turned violent as police moved in.Nine people between the ages of 19 and 22 were ultimately arrested on charges that included criminal mischief, reckless endangerment and obstructing governmental administration, according to police.

Every property buyer, being a resident individual, is required by law to deduct tax from the amount (price) he pays to the seller. However, where the seller is a tax resident in India, the TDS compliance is applicable only if the sales consideration exceeds Rs 50 lakh.

The BSE Sensex was trading 344 points or 0.48% higher at 72,065. Nifty50 was trading at 21,742, up 95 points or 0.44% at around 9.19 am. The Department of Labor's consumer price index (CPI), a key measure of inflation was up 3.4% from a year ago and higher than November's figure. From the Sensex pack, Infosys and TCS were the top gainers, rising 5% and 2.9%, respectively.

Polycab India, a leading electrical wires and cables manufacturer to ₹4,300 apiece from an earlier target price of ₹5,809 apiece to factor in the uncertainties due to the IT raid, by cutting the target P/E to 30x December 25E from 38x September. The company shares were in the spotlight over the last few sessions amid circulating reports of tax evasion allegations against the company.

India in defending freedom of navigation in the Red Sea as the two countries discussed «shared concerns» over the reckless Houthi attacks in the region. External Affairs Minister S Jaishankar and US Secretary of State Antony Blinken spoke Thursday and «discussed the United States and India's shared concerns over the reckless Houthi attacks in the southern Red Sea and Gulf of Aden, which threaten the free flow of commerce, endanger innocent mariners, and violate international law». State Department Spokesperson Matthew Miller said in a statement that Blinken emphasised the Red Sea is a major commercial corridor that facilitates international trade and «welcomed increased cooperation with India in defending freedom of navigation in the region».

Flipkart has already announced that its Republic Day Sale is all set to begin on January 14. Ahead of the upcoming sale, Nothing has now announced a huge discount on its premium mid-range smartphone, the Nothing Phone (2). Originally launched for ₹44,999, the 12GB RAM/128GB storage variant of the Nothing Phone (2) will be available for ₹34,999 during the Flipkart Republic Day Sale.

Question: The Income Tax Department has recently notified the new Income Tax Return forms applicable for Financial Year 2023-24 (Assessment Year 2024-25). Accordingly, kindly highlight the changes made in the new forms vis-à-vis the old forms.

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Friday. Here’s a look at the key stocks to watch in trade.

(Reuters) — Even as U.S. inflation has eased in the last year, an unusual culprit has emerged in recent months as a surprise force in preventing consumer prices from falling even further: auto insurance.