The Income Tax department will start sending SMS/emails to about 25,000 individuals, who are part of the “high-risk” cases identified for non-disclosure of foreign assets in the income tax returns (ITRs) filed for Assessment Year (AY) 2025-26, sources said. Illustration:
India’s forex reserves declined $4.47 billion to $688.104 billion during the week ended November 21 due to a steep decrease in the value of gold reserves, the RBI said on Friday. Illustration: Dado Ruvic/Reuters The overall reserves had increased by
The Indian economy grew by a higher-than-expected 8.2 per cent — a six-quarter high — as increased factory production in anticipation of a consumption boost from the GST rate cut helped offset deceleration in farm output. Photograph: Rupak De Chowdhuri/Reuters
The International Monetary Fund, in its report on the Indian economy, said the Insolvency and Bankruptcy Code (IBC) Amendment Bill addresses many deficiencies but it has not provided for the participation of operational creditors or rules for executory contracts. Illustration:
Byju’s founder Byju Raveendran is preparing to file a $2.5 billion damages claim, alongside new evidence in a US court that he says disproves GLAS Trust’s allegations that $533 million in ‘Alpha Funds’ was diverted by the company’s founders. Illustration:
Digital Connexion, a joint venture between Brookfield, Reliance Industries and Digital Realty, on Wednesday announced an investment of $11 billion till 2030 for building 1 gigawatt (Gw) state-of-the-art AI-native, purpose-built data centres in Visakhapatnam, Andhra Pradesh. Illustration: Dominic Xavier/Rediff This
iPhone maker tells Delhi HC the antitrust watchdog has no jurisdiction to consider its global turnover. IMAGE: People visit the Apple Store to buy the newly launched iPhone 17 at Select City Walk, New Delhi. Kindly note that this image
Affordable homes, priced under Rs 40 lakh per unit, may not be attractive anymore, not just for developers but also for investors, with the segment seeing a 26 per cent price rise over three years since 2022 versus 40 per
The consumer price index (CPI)-based inflation hitting an all-time low in October would encourage the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) to cut the policy repo rate in its upcoming December 3-5 meeting. Photograph:
The government on Wednesday approved a Rs 7,280 crore scheme to promote manufacturing of rare earth permanent magnets, a move which would help reduce India’s dependence on China. IMAGE: A sample of bastnaesite ore, a mineral used in the rare
