How will economy be impacted if India-US trade deal doesn’t happen? RBI governor Sanjay Malhotra answers

Malhotra’s comments come within days of FM Sitharaman indicating discussions having “reached a plateau”. India’s trade agreements with other countries should help mitigate the impact of possible US tariffs if a trade deal does not come through, indicated RBI governor Sanjay Malhotra on Wednesday.Asked about the possible impact on the economy if the India-US trade…

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Man opted for VRS after employer shut plant, got Rs 65.21 lakh and reported it as advance salary in ITR; Section 89 relief was denied, but ITAT Pune later ruled it a non-taxable capital receipt

He reported the Rs 65.21 lakh as advance salary in his ITR and sought tax relief under Section 89 of the Income Tax Act. (Image for representative purpose only) You choose to retire early and get money from your company for the VRS. But you mistakenly report it in a wrong way in your income…

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Man deposits Rs 85.3 lakh received as cash gifts from wife, relatives; income tax calls it unexplained and sends notice, but ITAT Chennai accepts gift deeds and gives relief

In this case the man who received the cash gifts formalised the transactions through gift deeds and deposited the money into his bank account. (Image for representative purpose only) You get a lot of gifts in the form of cash and you deposit the amount in your bank account. But, what if the Income Tax…

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‘System already straining’: Global oil buffers shrink amid mounting supply risks, say industry leaders

The warning comes as more than 1 billion barrels have been drawn from commercial oil stockpiles since the Middle East crisis began The global oil market is entering the winter with a much thinner safety cushion after more than 1 billion barrels were taken out of commercial stockpiles during this year’s supply disruptions, industry executives…

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ATF price shock: Govt weighs revival of stabilisation fund as airlines feel fuel heat – report

Domestic airlines’ operating profit to fall 10-15% this fiscal amid higher fuel costs, airspace curbs: Crisil NEW DELHI: The government is weighing a fresh mechanism to stabilise aviation turbine fuel (ATF) prices as the prolonged West Asia crisis pushes up fuel costs and puts increasing pressure on airline finances.A senior government official said the Centre…

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He bought a diesel SUV for Rs 13.69 lakh; but repeated DPF issues followed; consumer commission finds deficiency in service and awards Rs 10.99 lakh refund, 9% interest and compensation

The Kurnool District Consumer Disputes Redressal Commission has directed the car manufacturer and its dealer to refund the ex-showroom price. (Image for representative purpose only) Buying a car is a dream, but what if you repeatedly face issues after purchase? In one such case the Kurnool District Consumer Disputes Redressal Commission has asked the car…

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Cabinet clears Rs 10,000 crore SME fund, new transport authority; hails PM Modi’s 25 years in public life

Union Minister for [Information and Broadcasting, Ashwini Vaishnaw announcing the recent cabinet decisions The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved a series of measures spanning support for small and medium enterprises, integrated transport planning and logistics, and a resolution marking PM Modi’s completion of 25 years of continuous public service.The…

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