A closed-door meeting took place in Davangere, Karnataka, attended by several prominent Scheduled Castes and Scheduled Tribes leaders, including key ministers such as G Parameshwara, Satish Jarkiholi, HC Mahadevappa, K Rajanna, and Yathindra Siddaramaiah, son of Chief Minister Siddaramaiah. The gathering took place during the Maharshi Valmiki Jatra Mahotsava at Valmiki Matha in Rajanahalli, Harihar. Speculation about the meeting being linked to a potential change in the Karnataka Pradesh Cong

Zomato’s Corporate Name Change Announcement: On Thursday, Zomato Ltd. revealed its decision to change the corporate name to Eternal Ltd. The company clarified that this change would only affect the official corporate identity, not the popular Zomato brand or its app. The Zomato brand, which is widely known in the food delivery space, will continue to operate under its original name.   Explanation by CEO Deepinder Goyal: Deepinder Goyal,

The Union Budget 2025 has introduced significant changes to the income tax regime, offering relief to middle-class taxpayers. Finance Minister Nirmala Sitharaman proposed raising the basic exemption limit to Rs 4 lakh and increased the income threshold for the rebate under Section 87A to Rs 12 lakh. This means individuals earning up to Rs 12 lakh, with a standard deduction of Rs 75,000, can avoid paying taxes altogether. But for those earning more than Rs 12.75 lakh, choosing between the old

Volkswagen has filed a lawsuit against Indian authorities, contesting a $1.4 billion tax demand that the company describes as "impossibly enormous" and in violation of India’s import tax regulations. The dispute centers around the classification of car imports, with Indian officials accusing Volkswagen of misclassifying imports to avoid higher customs duties. In particular, Volkswagen allegedly broke down nearly complete vehicles into individual parts, which are subject to low

Income Tax: Union Budget 2025 introduces a revamped tax regime, with key reforms aimed at providing relief to the middle class. The new tax slabs are as follows: Up to Rs 4 lakh - 0% Rs 4-8 lakh - 5% Rs 8-12 lakh - 10%

DTC to Be Introduced Separately: Sources have confirmed that the much-anticipated Direct Tax Code (DTC), which seeks to simplify India’s income tax laws, will be introduced separately and not as part of the Union Budget 2025. Finance Minister Nirmala Sitharaman is expected to deliver the budget speech on Saturday, but the new tax code will be presented at a later date. This move marks a shift from earlier reports suggesting the DTC would be included with the budg

With the Modi government set to present its second full budget for the third term in power, the middle and lower-income groups across India are hopeful for key reforms that could alleviate their financial burdens. The anticipated reforms in Budget 2025 include tax relief measures, simplification of income tax laws, and a focus on financial literacy, insurance, and retirement savings. Key Expectations from Budget 2025 Insurance Sector Reforms:

Coromandel International Ltd. has won an appeal to quash an order to recover Rs 589.2 crore, including penalty and interest, from the company. The original order, filed by the additional commissioner of central tax from the Visakhapatnam Central GST Commissionerate, was contested successfully by the company. The Office of the Commissioner (Appeals), Central Tax and Customs, Guntur, ruled in Coromandel's favor on January 20, 2025. In a related matter, the fertilizer manufacturer

House Rent Allowance (HRA) is a component of an employee’s salary provided by employers to help cover rental expenses. Depending on various conditions, HRA may be partially or fully exempt from taxes. However, to benefit from this exemption, employees need to meet specific criteria. Is HRA Taxable? While HRA is part of an employee’s salary and is initially included in taxable income, it can be exempt under certain conditions. If the employee lives in a rented

The U.S. decision to withdraw from the Organisation for Economic Co-operation and Development’s (OECD) global tax deal, led by President Trump in his second term, could lead to significant shifts in the global tax landscape. However, according to tax expert Rakesh Nangia, India's tax policy will not be heavily impacted by this move. India had taken a more cautious approach toward implementing the Global Anti-Base Erosion (GloBE) rules and had not introduced substantial changes to it

Following the Indian cricket team’s defeat in the Test series against Australia, the BCCI (Board of Control for Cricket in India) has introduced a new  guidelines aimed at promoting discipline, team cohesion, and reducing the influence of 'star culture' within the team. These rules come after consultation with head coach Gautam Gambhir and are designed to ensure a more unif

For many young people, managing bills and budgets can leave very little room for savings, but even small investments in tax-free schemes can significantly contribute to building a secure financial future. These investments act as a foundation for a solid tax strategy, offering benefits under the old tax regime with annual investment limits. Section 80C Under Section 80C of the Income Tax Act, you can invest in options like the Public Provident

The UK government is taking decisive action to protect women and girls from the harm caused by sexually explicit deepfakes. In a new proposal, individuals who create or share these images could face criminal charges. This initiative aims to close existing legal gaps by criminalizing the taking and sharing of intimate images without consent. Under the new law, perpetrators could face up to two years in prison. Currently, sharing or threatening to share intimate images, including deep

Elon Musk, known for his online antics, caused a stir on the internet when he changed his X (formerly Twitter) account name to ‘Kekius Maximus’. Along with the name change, Musk updated his profile picture to a humorous rendition of the iconic ‘Pepe the Frog’ meme, dressed in gold armor and holding a video game controller. The meme’s association with internet culture has made it widely recognized, and Musk’s choice to feature it on his profile added fuel to

What Does a Healthy Period Look Like? A typical menstrual cycle lasts between 21 to 35 days, with bleeding lasting from 2 to 7 days. The flow is moderate, beginning as a brighter red and becoming darker toward the end. Mild symptoms like cramping, bloating, and mood swings are normal. However, extreme discomfort, irregularities, or changes in your cycle could signal an underlying health issue that needs attention. What Your Menstruation Might Be Telling You About Your H

A new report reveals that 2024 is set to become the warmest year on record, with global temperatures averaging 1.5°C above pre-industrial levels, marking a significant milestone in the climate crisis. According to Copernicus, the year also saw an alarming increase in extreme heat days, with the world experiencing 41 more days of dangerous heat than in previous years. The study, conducted by World Weather Attribution (WWA) and Climate Central, indicates that small island nations bore the b

Between April and November 2024, the Indian government dispersed Rs 3.08 lakh crore in income tax refunds, reflecting a significant 46% increase compared to the same period last year. As of November 22, about 98.35% of Income Tax Returns (ITRs) filed have been e-verified, with a record-breaking 69.93 lakh ITRs submitted on a single day, July 31. The total number of ITRs filed by November 22 stands at 8.50 crore, a 7.32% increase from the previous year. The introduction of innovation

Union Finance Minister Nirmala Sitharaman will chair the 55th GST Council meeting in Jaisalmer, Rajasthan, on Saturday, December 21. This meeting will focus on several important discussions related to the Goods and Services Tax (GST) in India. The agenda includes deliberations on taxability issues concerning food delivery platforms such as Swiggy and Zomato, and potential changes to GST rates on products like health insurance premiums, life insurance, wristwatches, shoes, and apparel. The cou

India introduced the Goods and Services Tax (GST) in 2017 to simplify the tax structure and reduce the tax burden. Recent data shows that the gross GST collection for October 2024 rose by 9% to ₹1.87 lakh crore, a record second-highest figure. However, a recent proposal by the Group of Ministers (GoM) on GST Rates Rationalisation suggests a new 35% GST slab on products like aerated drinks and tobacco, which has raised concerns. The proposal aims to target 'sin' products such as thos

Bangladesh's interim government has accused Adani Power of breaching a multi-billion-dollar agreement related to the supply of electricity from its coal-fired plant in India. The dispute centers on Adani Power withholding tax benefits that the power plant was entitled to under the agreement. The Indian company signed a deal with Bangladesh in 2017 to supply power from the Godda plant, but Dhaka claims that Adani Power failed to pass on the tax exemptions it received from the Indian govern