E-returns for AY 2018-19 up 18.65%: FinMin

 June 24 (IANS) The number of e-returns submitted for assessment year 2018-19 is 6,49,39,586 as against 5,47,30,304 filed for 2017-18, marking an increase of 18.65%. “A total of 7.19 crore income tax returns... Read more »

PSBs infused with Rs 3.19 lakh cr capital in last five years: FinMin

June 24 (IANS) Over the last five Financial Years (FYs), public sector banks (PSBs) have been infused with capital to the extent of Rs 3.19 lakh crore, with recapitalisation of Rs 2.5 lakh... Read more »

Industry seeks higher import duty on certain steel materials

June 24 (IANS) India’s steel industry has sought an increase in basic customs duty for certain steel materials from the government in the upcoming full-budget 2019-20. According to Indian Steel Association’s budget recommendations... Read more »

Flipkart co-founder sells part stake to Walmart for 531 cr

June 24 (IANS) Binny Bansal, the co-founder of India’s leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76.4 million (Rs 531 crore) to world’s retail giant Walmart’s Luxembourg... Read more »

Railways plans to run Delhi-Mumbai, Delhi-Howrah trains at 160 kmh

June 24 (IANS) In a bid to reduce travel time, the Indian Railways, under its 100-day action plan, envisages increasing the speeds of trains on the Delhi-Mumbai and Delhi-Howrah routes at an investment... Read more »

From merger, govt now looks to de-merge 3 PSU insurers then look for strategic sale

 June 23 (IANS) With its plans on consolidation in the insurance sector hitting several hurdles, the government has started exploring different options including de-merging three of its big-size general insurance companies into smaller... Read more »

Fiscal Deficit at 0.75% of GDP in April: DoE figures

June 23 (IANS) Fiscal deficit for the month of April was at Rs 1,57,048 crore which is 22 per cent of the budgeted estimate for the year 2019-20, slightly lower than what it... Read more »

Central sector telecom projects may get higher funds support in Budget

June 23 (IANS) The general Budget in July is likely to give a fillip to the government’s telecom projects to make the Prime Minister’s vision of Digital India a success. Under the roadmap,... Read more »

GST Council extends return filing dates, refers rate cut for EVs to a panel

June 21 (IANS) In a major relief to trade and businesses, the all-powerful GST Council in its first meeting after the Modi government came back to power extended the cut-off date for filing... Read more »

GST intelligence agency arrests one in fake invoice case

June 21 (IANS) Continuing its crackdown on tax-evaders, the Directorate General of GST Intelligence (DGGI) on Friday arrested one more person for fraudulently claiming input tax credit (ITC) of over Rs 16 crore.... Read more »

DoE’s Group A & B employees’ June salary deferred to July over crossing budgeted limit

June 22 (IANS) Excess expenditure over and above the limit of one-third of the provisions in the vote-on-account by the Public Financial Management System (PFMS) has forced the Finance ministry to defer the... Read more »

Government issues EoI for six P-75 (I) submarines

June 20 (IANS) In a major push towards ‘Make in India’ initiative, the government on Thursday issued Expression of Interest (EOI) for shortlisting of potential Indian Strategic Partners for construction of six conventional... Read more »

No official word from US on capping H1B visa quota: India

June 20 (IANS) India on Thursday said there was no official word from the US on a “source-based” media report about capping of the H1B visas, of which Indians are a major beneficiary.... Read more »

Short-covering triggers Jet’s 93% jump in scrip price

June 20 (IANS) Jet Airways’ scrips saw a gigantic surge in its value on Thursday owing to short-covering after heavy selling in the past 11 sessions. The scrips surged over 133 per cent... Read more »

Amid crisis, IL&FS arm gets nod to restart Bihar road project

June 20 (IANS) Even as IL&FS and its group companies reel under severe liquidity crisis and cases of blatant cover-up and misappropriation, the IL&FS Engineering and Construction Company (IL&FS Engineering Services) has received... Read more »

Paytm to dole out incentives for merchants at kirana stores

June 20 (IANS) In a move to make deeper inroads in the country, digital payments company Paytm on Thursday announced to push cashback from peer-to-peer UPI transactions to offline merchant payments at retail... Read more »

Indo-US trade irritants: Negotiation not retaliation

Since the US announcement of its withdrawal of benefits to India under the Generalised System of Preferences (GSP) on March 4, 2019, there is speculation that Indo-US trade relations may plunge into... Read more »

Industry concerns on e-commerce policy to be addressed: Goyal

June 18 (IANS) Commerce Minister Piyush Goyal has assured Indian e-commerce players that their concerns regarding the draft e-commerce policy will be addressed and also asked them to send their concerns to the... Read more »

SAT stays SEBI’s order barring NDTV promoters from key posts

June 18 (IANS) The Securities Appellate Tribunal on Tuesday stayed the SEBI’s order barring news channel NDTV’s promoters – Prannoy Roy and Radhika Roy – from holding any key managerial positions in the... Read more »

Sensex, Nifty end marginally higher, Jet ends 40% down

June 18 (IANS) Snapping a four-day losing streak, the benchmark indices Sensex and Nifty closed marginally higher on Tuesday after a choppy day of trade. The Sensex closed 85.55 points, or 0.22 per... Read more »