The tenure for filing updated tax returns has been extended from two to four years, allowing taxpayers more time to correct discrepancies. However, steep additional taxes of up to 70% apply for delayed filings. The updated returns cannot be used to claim missed tax benefits or adjust losses. Nearly 90 lakh taxpayers have already utilized this facility.
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President Trump signed an order to implement reciprocal tariffs to counteract high tariffs and trade barriers by other nations, particularly targeting countries like India. The tariffs, expected by April, aim to improve US trade competitiveness and could lead to trade tensions with key partners. India's high tariff rates on US goods may result in increased duties and strained economic relations.
Tata Electronics has acquired a 60% stake in Pegatron's India unit, which operates an iPhone plant in Tamil Nadu. This acquisition positions Tata Electronics as a significant Apple supplier in India. The company plans to collaborate with Pegatron Technology India and diversify its production to include components for Xiaomi and Oppo.
The Supreme Court of India will appoint a retired high court judge to oversee the Chandigarh mayoral election to ensure it is conducted fairly, following malpractices discovered in the previous election. A decision on voting methods and the request for a one-year term is pending.
Epigamia co-founder Rohan Mirchandani, 42, died from a sudden cardiac arrest on December 21. His passing follows other recent losses in the startup world, raising concerns about stress-related illnesses among young professionals. Mirchandani, an NYU and Wharton alumnus, founded Drums Food International in 2013, leading Epigamia to become a prominent yogurt brand in India.
Prime Minister Narendra Modi launched a strong critique of the Congress party on Monday, accusing them of exploiting the Constitution for political gain and neglecting Dr. BR Ambedkar's vision. He highlighted the Emergency and alleged politicization of reservations. Modi contrasted this with the BJP's development-focused approach.
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Friday. While BSE Sensex was above 76,700, Nifty50 was above 23,250.
Three Bihar labourers aged between 18 and 20 were killed, and another was injured in a brawl initiated by inappropriate comments about a sister of one of the attackers at a Bengaluru construction site. The suspects, Sonu and Sudheer, both from Gopalganj, are being sought by police.
India has compelled Apple and Google to remove numerous VPN apps, including Cloudflare's 1.1.1.1, from their stores. This action enforces a 2022 regulation mandating VPN providers keep detailed customer records. Initially, companies like NordVPN resisted by ceasing to market their services in the country.
A woman in Bhopal died after her son made her drink kerosene, thinking it would cure her paralysis. When her condition worsened, she was hospitalized and died a week later. Police registered a case of culpable homicide against her son after the woman revealed he made her consume kerosene.
Rohit Sharma skillfully responded to critics with his 32nd ODI century against England, showing his classic form. His composed innings, alongside Shubman Gill, solidified India's position. Sharma emphasized his focus on the upcoming games, dismissing questions about his future plans. Teammate Ravindra Jadeja praised Rohit's confident, natural stroke play, reflecting the team's support.