Electronic Financial News

income tax return (ITR) to save on taxes. There are two deductions under sections 80DD and 80U, using which an individual can reduce their total taxable income. By reducing the total income, ultimately an individual is paying a lower quantum of tax.

revenue secretary Sanjay Malhotra will initiate the process of selection and appointment of judicial and technical members for the Goods and Services Tax Appellate Tribunal (GSTAT) after the presentation of the budget, officials said. The central government is aiming to make the tribunal functional by the end of November and has already initiated the process of shifting anti-profiteering cases to the GSTAT principal bench from the Competition Commission of India (CCI). «We are putting all efforts to make the principal bench operational by the end of November and the process of selection and appointment will start immediately after the budget,» a senior government official told ET. Separately, a technical team is working on a dedicated online portal for electronic filing of appeals, officials said, adding that the portal will be ready by September.

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3.Admiral 175 L Direct Cool Single Door 3 Star Refrigerator (Sharon Blue, ADREFOG185DFB)With a reciprocating compressor, the refrigerator has a 3-star energy rating that ensures energy savings of up to 35%. With a capacity of 175 litres, it is ideal for couples and small families. Requiring manual defrosting, this refrigerator by Admiral comes with the Direct Cool feature.

Pixel 9 series are gaining momentum. Recent leaks have shed light on the camera specifications of the Pixel 9 Pro, offering a preview of what might be unveiled.According to a Camera FV5 certification reported by 91Mobiles, the Pixel 9 Pro's main camera is expected to feature a 12.5MP sensor.

Budget 2024 later this month, the Department for Promotion of Industry and Internal Trade (DPIIT) has recommended the removal of the contentious Angel Tax for startups ecretary Rajesh Kumar Singh said Thursday. He also said the department has proposed phasing out of the inverted duty structure and high tariff on inputs in sectors such as electronics. Section 56(2) VII B of the Income Tax Act, also known as angel tax, which was introduced in 2012, as an anti-abuse measure aimed at tax avoidance. It’s levied above a rate of 30%. “Based on consultations with the startup ecosystem we had, we have recommended that in the past as well, we have recommended this time also,” Singh said.

Odisha on Wednesday effected a major reshuffle among senior-level IAS officers. According to a notification issued by the state General Administration and Public Grievances (GA-PG) department for this purpose, Nikunja Bihari Dhal, the Additional Chief Secretary (ACS) to the chief minister, will continue to have additional charge of chairman of IDCO, a state PSU. Similarly, ACS Surendra Kumar has been given the charge of the parliamentary affairs department in addition to the current posting as ACS to the GA-PG department and Tourism department. Senior IAS officer G Mathivathanan has been transferred as director general of Training Coordination, Gopabandhu Academy of Administration, Bhubaneswar.

improve the accessibility of all government websites, digital applications, and services in the government-to-government, government-to-business or government-to-citizen space, a senior government official told ET. The ministry of electronics and information technology will anchor this project and suggest ways to improve page and website loading times, have better user interfaces on websites and apps, and make them more accessible for people with disabilities, the official said.

NEW DELHI : The Centre may issue so-called composite licences to find and extract critical minerals, in effort to end the fragmented nature of licensing, and tempt mining giants which passed up the blocks that went on auction last year. Critical mineral auction is currently a two-step process. In the first step, exploration licences are auctioned, and the bidder agreeing to share the lowest amount with a future miner wins the licence.

international airport that is being planned for Bengaluru will be as large as the Kempegowda International Airport (KIA) and would require about 4500-5000 acres of land, Industry & Infrastructure Minister MB Patil said on Wednesday. The KempeGowda International Airport, operated by the Bangalore International Airport Limited (BIAL) has been the third busiest airport in the country after Delhi and Mumbai. The airport recorded the highest-ever passenger traffic with 37.5 million travelers in the year 2023-24 and handled 439,524 metric tonnes of cargo. The international airport will reach its peak passenger and cargo load capacity by 2035, and the state government has to plan a second airport well ahead of time, the minister told a media conference.

ASM Technologies during the June quarter. Agrawal didn't have any holding in the company in the preceding March quarter. According to the latest shareholding pattern available with the exchanges, ASM Tech is majority owned by promoters with 47.36% stake while the public shareholders have about 42.64%. Among the public shareholders, mutual funds and foreign portfolio investors have no significant holding in the company.

Online discounts and promotions will peak this month onwards with brands across smartphones, electronics and apparel rushing to clear off unsold inventory ahead of the upcoming festive season and marketplaces such as Amazon and Flipkart lining up multiple sales events. Industry executives estimate the average online discount in these categories in the forthcoming sales to be the highest since Covid-19 as their sales have been under pressure from January to June.The chief executive of a leading apparel brand said it will clear inventory from 2023 on hefty discounts in the upcoming online sales. “Apparel demand has been subdued for six quarters now and though the industry has rationalised inventory last fiscal, still there is unsold stock,” he said on condition of anonymity. “Discounts on old stock will be more than last year,” he added.

Markets regulator Sebi on Tuesday mandated email as a default mode of dispatch of 'Consolidated Account Statement', which provides an account of securities traded by an investor, by depositories and Mutual Fund-Registrar and Transfer Agents (MF-RTAs). The new framework will come into force from April 1, the Securities and Exchange Board of India (Sebi) said in a circular. A Consolidated Account Statement (CAS) is a single or combined account statement which shows the details of financial transactions made by an investor during a month across all mutual funds and also other securities held in dematerialised (demat) mode.

lewd and derogatory comments online against the widow of Kirti Chakra awardee Captain Anshuman Singh. In a letter issued on Monday, the NCW referenced specific legal provisions that the comment violates, including Section 79 of the Bharatiya Nyaya Sanhita, 2023, which penalizes acts intended to insult the modesty of a woman, and Section 67 of the Information Technology Act, 2000, which deals with the punishment for publishing or transmitting obscene material in electronic form. The letter outlines the penalties under these laws, noting that the offenses can result in imprisonment for up to three years and fines for first-time offenders, with harsher penalties for repeat offenses. The NCW has asked the Delhi Police to promptly register a First Information Report (FIR) against the person and to arrest him at the earliest.

China’s Commerce Ministry has announced it will launch an investigation into whether unfair trade practices were adopted by the European Union in its probe of Chinese companies

Companies making smartphones, refrigerators, wearables and twowheelers said they are producing up to 20% more inventory than last year for the upcoming festive season. They expect a demand revival during the country’s largest consumption period on the back of a good monsoon and stable inflation. “There’s pent-up demand in rural India, which will be unleashed by the monsoon. People there have not bought much in the past five years, which is Covid onwards, while the premiumisation trend is continuing strong in urban India,” said Kamal Nandi, business head at Godrej Appliances.

Neuberger Berman Group's Steve Eisman expects the outsized strength in US megacap technology shares will «last for years,» as artificial intelligence becomes more accessible to consumers via electronic devices. People will want new AI apps on cellphones and personal computers, spurring the «biggest refresh cycle in history» as they purchase upgraded gadgets, he told Bloomberg Television in an interview on Thursday.

CBIC) has issued a fresh guideline to address the recovery of outstanding dues till the Goods and Services Tax Appellate Tribunal (GSTAT) becomes functional. Taxpayers can escape the tax recovery process by paying the pre-deposit amount via their electronic liability register and filing an undertaking with the jurisdictional proper officer. The circular issued late Thursday will ensure that taxpayers are not forced into recovery proceedings due to the absence of the Tribunal.

The regulation for AI will need global coordination between like-minded countries, Vaishnaw said.

Samsung is dressing up its wearable devices in technology’s latest fashion — artificial intelligence

Central bankers are not born as chronic worriers, but they quickly acquire the trait. They are now spending considerable time fretting about artificial intelligence (AI): Its ability to play havoc with prices, jobs and the security of banking. As gut-wrenching as the meltdown of 2008 was, imagine if a rogue machine turbocharged a market rout.