A total of 24,678 taxpayers reviewed their ITRs and 5,483 taxpayers filed their belated return for the A.Y.2024-25. File. | Photo Credit: S. Siva Saravanan The Income Tax Department’s efforts to match data obtained from other countries, including Switzerland, with income tax returns (ITRs) filed in India has resulted in taxpayers reporting additional foreign assets…
Advance tax collection during April 1-June 19, 2025 grew a meagre 3.87% to ₹1.56 lakh crore. File | Photo Credit: Special arrangement Net direct tax collection so far this fiscal stood at ₹4.59 lakh crore, 1.39% lower compared to the mop-up during the corresponding period of last fiscal, as advance tax collections slowed, government data…
Bombay Stock Exchange (BSE). | Photo Credit: Reuters The combined market valuation of six of the top-10 most-valued firms jumped ₹1,62,288.06 crore last week, with Bharti Airtel and Reliance Industries emerging as the biggest gainers, in-line with an optimistic trend in equities. Last week, the BSE benchmark gauge jumped 1,289.57 points, or 1.58%. Reliance Industries,…
The global economy is undergoing a significant transformation, marked by shifts in trade policies and continuing geopolitical tensions. We see a return of trade wars, the review of tariffs by countries as well as a surge in negotiations for bilateral trade agreements. These have led to heightened uncertainties, impacting not just trade but also financial…
For representative purposes. | Photo Credit: Getty Images The Reserve Bank of India (RBI) has cut key lending rates in two successive meetings, indicating a significant expansionary shift. In April 2025, the repo rate was cut by 25 basis points, and a further 50 basis point cut was announced in the recent meeting in June,…
Foreign Institutional Investors bought equities worth ₹7,940.70 crore on June 20, 2025, according to exchange data. File | Photo Credit: PTI Stock market benchmark indices Sensex and Nifty tumbled on Monday (June 23, 2025), as intensifying tensions in the Middle East after the U.S. bombed three major nuclear sites in Iran unnerved investors. After losing…
Rupee hits five-month low at 86.78 against USD due to market pressure, offset by FII inflows and forex reserves. File | Photo Credit: Reuters The rupee plunged 23 paise to close at a five-month low of 86.78 (provisional) against the U.S. dollar on Monday (June 23, 2025) amid a strengthening dollar and volatile crude oil…
India’s manufacturing and services index hits a 14-month high in June, driven by strong export demand, employment growth, and low inflation. File | Photo Credit: Reuters An index measuring India’s combined manufacturing and services performance rose to a 14-month high in June, driven by strong export demand. The HSBC Flash India Composite Output Index rose…
At less than 3%, the inflation figure for May is well within the target set by the government of India. This has led to a celebration in the media of the Reserve Bank of India’s prowess in macroeconomic management, of which inflation control is an important part. What has received next to no acknowledgement, though,…
Representative image | Photo Credit: Getty Images/iStockphoto Oman plans to levy personal income tax as part of a broader push to move the sultanate’s economy away from reliance on hydrocarbons. The tax would be a first among the six-member oil-rich Gulf Cooperation Council. The 5% tax will start in 2028 and will only be required…
