Business

The case concerned assessment year 2015-16 and the changes brought to the law governing reassessment notices from April 1, 2021. (Image for representative purpose) You don’t file your income tax return for an assessment year and some years after that the tax department sends you a notice over unexplained income for that AY. What happens…

With Brent crude prices spiking again to over $105 per barrel, US Treasury bond yields rising to a more than two-decade high and the rupee at close to 96.8/$, strong foreign fund selling pulled the markets sharply down on Thursday. Reliance Industries, HDFC Bank and Bharti Airtel led the slide as sensex lost 1,045 points…

Brent crude futures fell 72 cents, or 0.7%, to $103.53 a barrel. Oil prices fell on Friday as concerns over Middle East supply disruptions eased after US President Donald Trump said Washington would not attack Iran before next month’s US elections. He also cited progress in talks aimed at ending the conflict, which has disrupted…

NEW DELHI: After IndiGo, Air India, Air India Express and Akasa have also hiked fuel surcharge due to spiralling price of aviation turbine fuel (ATF/jet fuel) and falling rupee, which is acting as a double whammy at a time when air traffic is also beginning to decline as higher fares are seeing price-sensitive domestic travellers…

Elon Musk brings Ambani into the Starlink India delay NEW DELHI: The terrestrial war over providing satellite communication (satcom) services heated up several notches Thursday, with Elon Musk asking on X, “Is Ambani the real boss of India”, hours after govt denied his charge that “certain oligarchs” were blocking Starlink’s entry to India.In his first…

US mortgage rate climbs to three year high US mortgage rates have soared to their highest level in nearly three years, with the sharp rise in borrowing costs adding to pressure on the housing market as Americans head towards November 3 elections.The average rate for a 30-year fixed-rate mortgage rose 19 basis points to 7.49%…

US targets 2 Mumbai companies, 5 Indians in Iran petroleum sanctions (representative image) The United States on Thursday imposed sanctions on two Mumbai-based companies and five Indian nationals over their alleged involvement in the trade of petroleum products from Iran, as Washington stepped up its economic pressure on Tehran.The US department of state targeted SSPL…

A CBDT Notification No. 31/2023 dated 24 May 2023 increased the exemption limit for non-government employees from Rs 3 lakh to Rs 25 lakh.  (Image for representative purpose only) You retire and get leave encashment, a part of which is exempt from tax. You file your income tax return claiming the exemption, but later the…

Russia aims to reach Europe’s gas market through Nord Stream pipeline (Representational image) Russia may be looking to turn the gas taps to Europe back on, with talks under way over bringing a US investor into the Nord Stream pipelines that once carried Russian gas to Germany.According to five people familiar with the matter, the…

The sale prompted opposition from the man’s daughter from his first marriage. (Image for representative purpose only) Land disputes are a tricky matter especially when it comes to property that one person claims is ancestral, and the other as self-acquired.In one such case, a daughter has claimed share in a property that her grandmother and…