Information Financial News

Connected cars are becoming the mainstream choice for many new car buyers in India fuelled by rising disposable incomes and an influx of new models. Such cars, which have embedded chips allowing internet access, enabling drivers to transmit, store and receive information collected via sensors – currently make up as much as 30% of all new vehicles sold, up from 6% in FY21. New-age buyers are increasingly taking to cars which offer continuous connectivity and a safer driving experience. Given the robust demand, carmakers have started offering such features in all premium SUVs sold in the local market.

CBDT has permitted income tax authorities to file appeals irrespective of monetary threshold in cases relating to TDS/TCS, undisclosed foreign income, or information received from investigating agencies like ED and GST Intelligence. Currently, tax authorities can file appeals before the ITAT, High Court and Supreme Court, if the disputed tax demand exceeds Rs 50 lakh, Rs 1 crore and Rs 2 crore respectively — a threshold fixed in 2019. The Central Board of Direct Taxes (CBDT) in a circular dated March 15 said that the said monetary limits will not be applicable for filing appeals in cases where prosecution has been filed by the department in the relevant case, and trial is pending and conviction order has been passed and the same has not been compounded. Cases where the assessment is based on information with regard to an offence alleged to have been committed under any other law and information received from law enforcement or intelligence agencies like CBI, ED, DRI, SFIO, NIA, NCB, Directorate General of GST Intelligence (DGGI), and state law enforcement agencies, in such cases the appeals would be filed irrespective of the tax demand on the assessee.

New data on Canada’s housing market out yesterday suggested prices might be nearing a bottom, but the recovery won’t be all smooth sailing, say economists.

Apple reported to launch new iPad Air, iPad Pro models on March 26. Everything we know so far In the first warning, issued on March 15, CERT-In said several vulnerabilities had been found in Apple's iOS and iPadOS that “allow an attacker to trigger denial of service condition, execute arbitrary code, sensitive information disclosure and bypass security restriction on the targeted system." The cybersecurity agency said these vulnerabilities exist for a number of reasons, including improper validation in Bluetooth, MediaRemote, Photos, Safari and Webkit components.

Brazilian Supreme Court today released the federal police's indictment that alleges the former president and 16 others in his close circle provided false information into the public health database to make it appear as if they had received the COVID-19 vaccine during the pandemic. The indictment comes one year after the federal police searched Bolsonaro’s residence to investigate if the former president and his close circle provided false data into the health ministry’s database as proof of vaccination ahead of international trips.

UnitedHealth Group is testing software for submitting medical claims as it continues to recover from a cyberattack that disrupted care billing systems

₹10 per equity share, is a mix of fresh issue of shares of up to ₹200 crore and an offer of sale of up to 4.45 million by the promoter group and investor-selling shareholders. The offer for sale consists of the sale of equity shares of up to 7.20 lakh by Arvind Nanda, up to 7.90 lakh shares by Gautam Suri, up to 5.40 lakh shares by Ishaan Suri, up to 6 lakh shares by Shobhna Suri, up to 1.80 million by OIH Mauritius Limited.

Japan’s Government Pension Investment Fund (GPIF) said Tuesday that it is seeking information regarding diversifying into illiquid assets such as Bitcoin, gold, forests, and farmland.

If you had been following the S&P 500 closely this past week, it likely would have left you scratching your head if you were trying to align the news with the market action.

income tax return (ITR), you can still file an updated income tax return before March 31, 2024. Taxpayers can file updated returns for any of the assessment years 2021-22, 2022-23 and 2023-24. But it is vital to note that the amount of additional tax payable needs to be paid along with the updated return.

₹1.01 lakh crore. The company board gave its approval for the raising of funds not exceeding the above-mentioned figure through the issuance of nonconvertible debentures (NCDs) in one or more tranches.

India is hailed as the third largest fintech ecosystem in the world with over 10000 FinTech firms in the country. The fintech adoption rate in India is 87% which is way above the global average of 64%. On top of that, the value of India’s Financial Inclusion Index is 60.1 as against 56.4 in the previous year. Yet, India is severely credit underpenetrated. The credit card penetration is estimated at around merely 5.5% of the population and even India’s domestic credit to the private sector at 55% of GDP in 2020 is remarkably below the world average (148%), and lowest among its Asian peers — China (182%), South Korea (165%), and Vietnam (148%).

SoftBank India has elevated its investment director Sarthak Misra to a partner, per sources in the know of the matter. The technology-focussed investment fund’s India portfolio companies are also being informed of the same on Tuesday, according to people aware of the matter. Misra, who joined the fund in 2019 from Matrix Partners India, sits on the board of ecommerce firm Meesho and business-to-business etailer OfBusiness along with working closely with companies like Swiggy and Lenskart.

Revenue Secretary's remarks last month, who said that the six-month period will be over by March 31, so the issue will be not decided in the next meeting, but after the completion of the deadline. “A review does not necessarily mean that we change the rates. A review is only to take stock and see if anything needs to be done," Revenue Secretary Sanjay Malhotra told Moneycontrol.

ANI reported. Alleging that the local police did not register a First Information Report (FIR) initially, Surya said, “Immediately, Mukesh and the neighbouring shopkeepers tried to reach the nearest police station to register an FIR.

Stock market today: Despite weakness in the Indian stock market today, JTL Industries share price has been in uptrend since early morning deals. JTL Industreis share price today opened upside at ₹190 apiece on NSE and went on to touch an intraday high of ₹195.95 per share level, logging an intraday rise of nearly 6 percent during Tuesday deals. However, the stock failed to sustain at higher levels after the profit-booking trigger.

H-1B cap season for fiscal year 2025 is in full swing in the United States, with registrations now open and scheduled to close on March 22. However, the application procedure has undergone significant changes, making it crucial for employers and applicants to understand the new process thoroughly. The H-1B programme allows US employers to temporarily hire foreign workers in highly specialised technical occupations, including architecture, engineering, social sciences, medicine, education, mathematics, law, accounting, business specialities, arts, and others.

Australian regulator has sent legal letters to social media platforms from YouTube, X and Facebook to Telegram and Reddit, demanding they hand over information about their efforts to stamp out terrorism content. The e-Safety Commission said it was concerned the platforms were not doing enough to stop extremists from using live-streaming features, algorithms and recommendation systems to recruit users.

The Russian government is planning to build a platform that will allow the nation’s law enforcement agencies to seize and hold crypto they confiscate from criminals.

H-1B visas, sought by foreign guest workers, is set to close at noon Eastern Time on March 22, according to the US Citizenship and Immigration Services (USCIS), PTI reported. Prospective petitioners and legal representatives are required to use the online account of the USCIS during this period. They must electronically register for the selection process and pay the associated registration fee for each beneficiary, the federal agency said on March 18.

Popular Vehicles IPO: The listing date of the initial public offering (IPO) of Popular Vehicles and Services Limited has been fixed on 19th March 2024 i.e. today. As per the information available on the BSE website, Popular Vehicles IPO will be listed on BSE and NSE in a special pre-open session on Tuesday, 19th March 2024.