business
Tax refund update: CBDT gives concurrent powers to CPC Bengaluru for rectifications; what it means for taxpayers
The CBDT has empowered the Income Tax Commissioner at Bengaluru’s CPC to directly rectify assessment order mistakes under Section 154. This move aims to expedite corrections for taxpayers, addressing issues like miscalculations and missed credits, thereby reducing delays and enhancing transparency in the refund process.
Tax notice alert! Buying land above Rs 30 lakh? Here’s why you may come under Income Tax Department scrutiny and how to avoid it
Property buyers are increasingly receiving income tax notices questioning the source of funds for their purchases. Tax authorities are using advanced data analytics to cross-verify declared income against investment levels, especially for transactions over Rs 30 lakh. Prompt and accurate responses with proper documentation are crucial to avoid penalties and reassessment.
India & Vietnam to step up defence cooperation
India and Vietnam are set to enhance their defense cooperation, venturing into new frontiers like cybersecurity and real-time information exchange. The two nations also signed a Memorandum of Understanding on submarine search and rescue collaboration, reinforcing their strategic partnership.
US markets today: Wall Street trades mixed as rally pauses; Nvidia slides after SoftBank stake sale
Indian markets mirrored global sentiment as Wall Street saw a mixed session, cooling after Monday’s surge. Nvidia’s dip, following SoftBank’s stake sale, cast a shadow over AI stocks, fueling dot-com bubble fears. Investors are keenly watching US government shutdown progress and potential Fed rate cuts. European markets edged higher, while Asian indices presented a mixed…
Mutual fund trends: Net equity inflows drop 19% to Rs 24,690 crore in October; SIPs, gold ETFs continue to shine
Mutual fund equity inflows declined nearly 19% in October due to profit-booking and higher redemptions, despite market rallies. However, retail SIP investments and gold ETFs remained resilient, with overall MF industry AUM expanding significantly, driven by a strong rebound in debt funds.
Atmanirbhar push: ‘Country of origin’ filters on e-commerce sites soon?
E-commerce platforms in India will soon feature ‘country of origin’ filters, a government mandate to boost transparency and champion local products. This move aims to level the playing field for Indian manufacturers and empower consumers to make informed choices, aligning with the nation’s self-reliance goals. The proposal is open for public feedback until November 22,…
Festive hiring surge: Consumption sectors see 17% job growth
India’s festive season witnessed a significant 17% surge in hiring across consumption-linked sectors, with gig and temporary roles jumping 25%. Strong consumer sentiment and festive spending fueled this growth, making 2025 the strongest year post-COVID recovery. This hiring momentum is expected to continue, with tier II and III cities showing faster expansion.
Indian delegation heads to Moscow amid US tariff tensions; what’s on the agenda
Over 20 Indian engineering exporters are in Moscow to boost trade, seeking new markets after US tariff hikes. The delegation, led by FIEO, will showcase products at the Moscow International Tool Expo, aiming to strengthen bilateral ties and explore joint ventures. This visit underscores India’s strategy to diversify exports and capitalize on opportunities in Russia.