Offering a sense of relief to taxpayers, Union Finance and Corporate Affairs Minister Nirmala Sitharaman in Budget 2024 announced a number of key changes with regards to reopening and reassessment of old income tax returns (ITR) filed by taxpayers. In Budget 2024, Finance Minister Nirmala Sitharaman proposed that reopening and reassessment of income tax returns will be allowed in … Read more
US labor growth misses expectations; unemployment rate rises Bets rise for a 50 basis point Fed rate cut in September Consumer Discretionary is worst-hit index Indexes down: Dow 2.26%, S&P 2.4%, Nasdaq 2.8% U.S. stocks tumbled for a second straight session on Friday, with the Nasdaq Composite on pace to confirm a fall into correction … Read more
The last date to file an income tax return (ITR) ended on July 31, 2024, and taxpayers are now awaiting the refund of excess tax paid. The income tax (I-T) department’s latest data reveals that more than 7.28 crore ITRs were filed till July 31, 2024, 7.5 per cent higher than the 6.77 crore ITRs … Read more
Unlike his competitors, Dikec eschewed any specialised equipment – such as noise-cancelling ear protectors, special lenses to enhance precision and prevent blurring, or even a hat. Yet, he and his teammate won silver, and took social media by storm. “SWAG. This man just explained the meaning of the term to us, “Anand Mahindra wrote in … Read more
Budget 2024 introduces much-needed relief for taxpayers by easing the rules for initiating prosecution proceedings in cases of TDS defaults. This move aims to streamline tax laws and reduce the litigation burden on taxpayers. Currently, tax laws consider delays in the payment of taxes deducted at source as a criminal offence if not paid or … Read more
After a record-breaking performance in the previous trading session, Indian market struggled to maintain those gains today, with frontline indices losing over 1%. This decline was influenced by a sell-off in global peers, driven by weak US manufacturing and labor market data that reignited recessionary fears. Sector-wise, the metal sector was the hardest hit, with … Read more
The Reserve Bank of India (RBI) on Thursday said 97.92 per cent of the ₹2,000 banknotes in circulation have been returned to the banking system. The total value of ₹2,000 banknotes, which was ₹3.56 lakh crore on May 19, 2023, when the withdrawal was announced, has declined to ₹7,409 crore, the central bank said. For … Read more
The internet provided not only the images, but also the resources for labelling them. Once search engines had delivered pictures of what they took to be dogs, cats, chairs or whatever, these images were inspected and annotated by humans recruited through Mechanical Turk, a crowdsourcing service provided by Amazon which allows people to earn money … Read more
One of the ambitious schemes is to get the country’s 500 biggest companies to provide paid internships to 10 million youth over the next five years, making them job-ready in the process. While the intent is laudable, given high youth unemployment and unemployability, the scale of the scheme could make it unviable. R. Shankar Raman, … Read more
Ola Electric IPO: Ola Electric has raised ₹2,763 crore from anchor investors ahead of its IPO subscription opening for bidding. India’s largest electric two-wheeler (e2W) maker’s initial public offering (IPO) is all set to hit the D-Street for its three-day subscription on Friday, August 2, and will close on Tuesday, August 6. The price band … Read more