Tata Consultancy Services left people stunned at the end of July after announcing plans to lay off more than 12,000 employees. The move has left many IT sector workers unnerved and sparked growing concerns about similar cuts in other companies. A growing call for AI and automation has incidentally led to the loss of more
New Income Tax Bill, 2025: The Centre has taken a big step towards making the tax system simple and transparent in the country. The Modi government introduced the ‘Income Tax Bill, 2025’ in Parliament during the budget session this year to replace the existing Income Tax Act, 1961. This Bill, after being introduced in the
The Modi government launched the Unified Pension Scheme (UPS) under the National Pension System (NPS) on April 1 this year. The UPS was conceived as a new pension plan for central government employees, giving them an option to subscribe to a new scheme that combines some of the unique features from the existing NPS and
It seems that the high-interest-rate regime, which prevailed for almost three years, has come to an end in the wake of the RBI slashing the repo rate by 100 basis points (bps) this year. However, there are some private sector banks that are still offering attractive interest rates on their fixed deposits (FDs) for senior
It seems that long waits and weeks of uncertainty after filing income tax returns (ITRs) have become the thing of the past, at least for many individual taxpayers. This year, many taxpayers are receiving their income tax refunds within mere hours of e-filing their income tax returns. This is a major shift from past years
The Income Tax Return (ITR) filing season is in full swing. Like every year, taxpayers while filing their ITRs grapple with issues related to forms, rules or eligibility to claim certain deductions and exemptions. Among various other issues, this time one of the major confusions among taxpayers is being seen regarding the rebate available under
Veteran investor and author Jim Rogers has reasserted his confidence in silver, adding that he will continue to hold gold and silver and that it would be part of his “estate for his children”, Economic Times reported. Rogers stated that he purchased more silver just last week and would continue to buy it if the price remains
The central government is continuously working to simplify and streamline the tax system, aiming to reduce disputes. In this direction, Union Finance Minister Nirmala Sitharaman has reportedly given strict instructions to the Central Board of Direct Taxes (CBDT) to identify all departmental tax appeals involving amounts less than the “revised monetary limit announced by the
WHENEVER A NON-RESIDENT Indian (NRI) sells a property, the buyer has to deduct tax on the gross sale consideration rather than on the actual taxable gains. However, there’s a way out to ensure that tax is withheld only on the real capital gains arising from the sale and not on the entire transaction value. For this
After being formally separated from gambling-based segments, esports are now eyeing towards becoming a far more attractive proposition for mainstream corporate sponsors and institutional investors. Esports’ Rise vs. RMG’s Decline Esports, which traditionally depends on sponsorships and media rights, is now expected to grow fan-led monetisation through event ticketing, merchandise and digital engagement. Big brands
Shares worth Rs 1.75 lakh crore are set to be unlocked in the next three months (August 28-November 27), as the pre-listing lock-in period of promoters, anchor investors, and other shareholders in 57 companies is set to expire, according to a report by Nuvama Institutional Equities. While this unlocking will increase the supply of shares
Paving the way for an overhaul of the eight-year-old goods and services tax (GST) regime, a group of ministers on rate rationalisation has given its nod to the Centre’s proposal for a reduction in tax slabs and rates, even as some opposition-ruled state sought compensation for revenue losses. This is a shot in the arm
After the government unveiled a sweeping ban that could wipe out their businesses overnight, a shell-shocked online gaming industry has requested the government to reconsider and take a more calibrated stance on banning real money gaming (RMG). Some are also weighing the option of taking legal recourse. The Esports Players Welfare Association (EPWA) on Wednesday
