Naukariadda

from Economic Times https://ift.tt/4bnwGM1

from Economic Times https://ift.tt/LTPseXb

Mumbai: The old trick of flipping farm land to white-wash cash is in the crosshairs of the taxman.Buying agricultural land way below the market value in a predominantly cash deal, and subsequently selling the land at the actual value in an official transaction has been used for decades by babus, businessmen, politicians, and cine stars to legitimise undisclosed funds.Now, a recent tax tribunal ruling threatens to throw a spanner in this well-oiled machine. While the views of the Income Tax Appellate Tribunal (ITAT) pertain to an otherwise innocuous case of alleged tax evasion and are not linked to any dodgy deals, its observations strike at the heart of this laundering machine that thrives on buy-sell of farm lands. ITAT is a quasi-judicial authority and hears disputes before matters are challenged before the High Court.122146782Consider this: a person with unexplained cash cuts a deal with an agriculturist to purchase land, having a market value of ₹10 crore. Here, the official land v...

New Delhi: Short-haul destinations such as Thailand, Malaysia, Vietnam, Indonesia, Bhutan, Sri Lanka and Nepal continue to see steady demand Indian travellers even as long-haul travel has slowed amid geopolitical tensions, travel companies said."While travellers have considered delaying or postponing plans, Southeast Asia has emerged as a go-to destination for those seeking familiar experiences," said Manjari Singhal, chief growth and business officer at Cleartrip.The booking platform has seen a 50% year-on-year rise in bookings to countries like Cambodia, Vietnam and the Philippines this summer season compared to last year. "Additionally, airfares to Vietnam and Indonesia have dropped, making these destinations more accessible for budget conscious holidaymakers," she added.And the spike in demand is continuing even after the end of summer vacation. 122146493"Our pipeline post reopening of schools shows continued momentum from the young professionals segment, e...

from Economic Times https://ift.tt/W32E7pe

from Economic Times https://ift.tt/OlXskG3

Four senior executives at Air India SATS (AISATS) have been asked to resign after a video of an office party in Gurugram went viral, sparking widespread outrage. The video surfaced just days after the devastating Air India flight AI171 crash on June 12, 2025, which killed 259 people and left the nation in mourning. The clip, which featured AISATS Chief Operating Officer Abraham Zachariah and other staff members dancing to loud music, was widely circulated on social media. The timing of the celebration—held shortly after one of India’s deadliest aviation disasters—was widely condemned as tone-deaf and deeply insensitive. Flight AI171, a Boeing 787-8 Dreamliner en route to London, crashed into a hostel for medical students at Ahmedabad’s BJ Medical College shortly after takeoff. Of the 260 people on board, only one survived.— TheSquind (@TheSquind) As grieving families awaited the repatriation of victims' remains, the video drew sharp criticism for its perceived lack of emp...

from Economic Times https://ift.tt/s3f2p64

from Economic Times https://ift.tt/FLdy8SU

from Economic Times https://ift.tt/Wc6Ov90

JSW MG Motor India on Wednesday said it will hike prices of its vehicles by up to 1.5 per cent across most of its offerings from July 1. This revision is being done to mitigate the impact of rising input costs and other macroeconomic factors, the company said in a statement. The company sells a range of conventional engine and electric vehicles like Comet EV with price starting at Rs 7.36 lakh to SUV Gloster at starting price of Rs 43.35 lakh. from Economic Times https://ift.tt/zEn2XDt

from Economic Times https://ift.tt/TGqmR9H

from Economic Times https://ift.tt/GAKeNwq

from Economic Times https://ift.tt/17CkLyH

from Economic Times https://ift.tt/zcwZ01v

from Economic Times https://ift.tt/wSlDhxd

Finance minister Nirmala Sitharaman on Monday asked income-tax officials to ensure that tax compliance processes are made simpler, more transparent and taxpayer-friendly.In a meeting with senior tax officials, the FM took stock of zone-wise tax collections.India's net tax collections as on June 19 in the ongoing fiscal 2026 fell 1.4% from a year earlier to Rs 4.58 lakh crore.The finance minister directed all principal chief commissioners of income tax to prioritise and accelerate the disposal of disputed tax demands that are currently pending before the faceless appellate authorities, the finance ministry said in a statement.122033267About 577,000 appeals were pending at the start of the current fiscal year. The Central Board of Direct Taxes (CBDT) is targeting to address more than 225,000 appeals in FY 2025-26 involving over Rs 10 lakh crore of disputed demand.The finance minister underscored that prompt and time-bound disposal of taxpayer grievances is essential for ensuring resp...

from Economic Times https://ift.tt/YcE0UKT

Mumbai : Fast-moving consumer goods, power, consumer durables, and information technology were the sectors that saw the highest selloff by overseas funds in the first-half of June, according to data from NSDL. The fast-moving consumer goods (FMCG) sector witnessed the highest outflows at ₹3,626 crore, after receiving inflows worth ₹815 crore in May. Between January and May, the sector saw selling worth over ₹14,000 crore."Continuing with the trend seen in the first quarter of this calendar year, FMCG companies saw foreign selling and preference for rate-sensitives and beta plays were the few reasons driving this trend," said Sriram Velayudhan, senior vice president, IIFL Capital. "Foreign investors are looking for better opportunities across sectors."Foreign investors extended their selling in the power sector, offloading shares worth ₹3,120 crore in the first 15 days of June, after selling ₹2,494 crore last month. The sector has seen outflows worth over ₹9,000 cror...

from Economic Times https://ift.tt/ypHDRXd

from Economic Times https://ift.tt/z7Cs2rg

from Economic Times https://ift.tt/aWGSh7u

MUMBAI: The Central Bureau of Investigation (CBI) has booked the project manager of Tata Consulting Engineers (TCE), the chief manager of the Jawaharlal Nehru Port Trust (JNPT) and unknown officials for allegedly causing a loss of Rs 800 crore to the exchequer by running a cartel and awarding contracts to selected international bidders.According to a first information report (FIR) filed earlier this week, Sunil Kumar Madabhavi, the chief manager (PP&D) of JNPT at the time, in conspiracy with Devdutt Bose, the then project manager of TCE, a Tata Group company, allowed complementary bidding in the tendering process. By doing so, they allowed the formation of the joint venture by the solely eligible bidders - Boskalis Smit India LLP and Jan De Nul Dredging India Pvt.Ltd. (also known as BSI-JDN JV).The agency has alleged that the Competition Commission of India guidelines were violated in the process.The FIR adds that a shadow bidding arrangement was put in place to support the cartel ...

from Economic Times https://ift.tt/3EQlSwr

from Economic Times https://ift.tt/q5VOErw

from Economic Times https://ift.tt/NQoOrx7

from Economic Times https://ift.tt/RnWqstB

from Economic Times https://ift.tt/JXWTSG0

Infosys co-founder Nandan Nilekani is likely to head a task force on the digitisation and decentralisation of the Indian power sector, officials aware of the development told ET.If it goes according to plan, this would be the second time the government has asked Nilekani to give a blueprint for power reforms.The Nilekani-led task force will be supported from funds allocated under the Revamped Distribution Sector Scheme (RDSS) of the power ministry."A correction of up to 25% in generation, transmission and distribution costs is the desired outcome of this exercise," an official aware of the project told ET.ET's email queries to Nilekani did not elicit a response until press time.In a post on X in March, Nilekani had said, "Energy is the next UPI! Millions of small producers will participate in the Digital Energy Grid (DEG)".In February, the Foundation for Interoperability in Digital Economy (FIDE) and International Energy Agency (IEA) published a whitepaper on th...

Companies making packaged foods and beverages, detergent and paint said the ongoing West Asian conflict may drive up crude oil prices again and potentially hurt demand further, just as input costs had started to stabilise."Geopolitical tensions in the Middle East could pose short-term headwinds, by driving up crude oil prices," said Krishna Khatwani, head of sales, Godrej Consumer Products, which makes Cinthol soap and GoodKnight mosquito repellent. "This may drive up the prices of the overall purchase basket and pinch consumers."Conflict has broken out at a time when consumer goods companies had started to indicate early signs of demand picking up after five quarters, buoyed by interest rate cuts by the Reserve Bank of India (RBI), tax benefits introduced in the budget and the early onset of the monsoon."Disruptions to the Middle East's energy infrastructure could trigger a significant supply shock, driving up crude oil prices," said Angelo George, ch...

from Economic Times https://ift.tt/ZY4tMJh

from Economic Times https://ift.tt/VoyhbS2

from Economic Times https://ift.tt/XF3UHTY

from Economic Times https://ift.tt/9iIDMKx

Hindi film producers have grown increasingly risk-averse over the past three-and-a-half years, betting on familiar names and proven formulae while pulling back on support for debut filmmakers, amid a wave of box-office flops even by seasoned directors.The number of debut filmmakers breaking into Hindi cinema fell to 32 in 2024 from 39 in 2022, according to the data shared by veteran trade analysts. So far in 2025, only 15 first-time Hindi filmmakers have had theatrical releases.This decline has come despite an increase in the total number of Hindi film releases to 221 in 2024 from 194 in 2022. The share of debut directors dropped to 14.5% from 20.1% during this period."Today, producers want to minimise the margin of error," said Ameya Naik, producer and founder of the event management company Fantasy Films. "Gone are the days when a filmmaker could afford to make his or her 'best' film after a few films. Today, a filmmaker's debut film must be his or her ...

from Economic Times https://ift.tt/xWcDIjR

from Economic Times https://ift.tt/wgbtWJV

from Economic Times https://ift.tt/EwThogu

from Economic Times https://ift.tt/seKcqDW

from Economic Times https://ift.tt/pAFR1VG

The finance ministry has amended rules to allow Indian companies, engaged in sectors where the foreign direct investment (FDI) is barred, to issue bonus shares to their pre-existing non-resident shareholders.However, the stakes of such shareholders must remain unchanged even after the bonus share issue, the ministry said while notifying the Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2025. The new rules take effect from June 11.The move, experts said, will allow the companies flexibility to go for equity restructuring and also improve capital management without breaching the extant FDI policy.The notification comes after a similar relief was announced in the FDI policy in April by the Department for Promotion of Industry and Internal Trade (DPIIT) in April.The ministry has now brought about the change by introducing a new sub-rule in the Foreign Exchange Management (Non-debt Instruments) Rules, 2019.The notification also said any “bonus shares issued to such s...

from Economic Times https://ift.tt/I7vqprs

As Indians seek ways to improve gut health, boost immunity, and enhance digestive function, probiotics are becoming a significant ingredient in their diet. Data suggest that probiotics market clocked strong double-digit growth of 22% on a Moving Annual Total (MAT) for May, as per market research firm PharmaTrac."The probiotics market has almost doubled in the last five years," said Sheetal Sapale, vice president, commercial, PharmaTrac. The probiotics market has grown from ₹1,016 crore MAT value in 2021 to ₹2,070 crore in 2025, show data.Several pharmaceutical companies including Sun Pharma, USV, Zydus, Torrent, Mankind and Dr Reddy's are leading the market, which is mostly driven by the older brands as new launches in the last two years have garnered a revenue of approximately ₹49 crore only, data showed.121786651"The probiotics market has become a very important market as far as restoration of gut health is concerned. Ailments affecting the normal gut microbe densi...

New Delhi: India could rope in the expertise of Germany, France, Australia, Singapore, Japan, South Korea and Italy to create a pool of skilled manpower that meets global standards for over half-a-dozen sectors, where the country has the potential to substantially scale up manufacturing, a senior government official told ET. The identified sectors include automotive and precision manufacturing, electronics, pharmaceuticals, textile and apparel, aerospace and defence, and engineering and construction technology.The Ministry of Skills Development and Entrepreneurship will transform five National Skills Training Institutes into National Centres of Excellence, as announced in budget 2025-26. The government has earmarked ₹1,000 crore to upgrade these centres and provide skills training over a period of five years."Meetings have been held with top officials of Germany, Australia, Japan, France and Singapore to get technical help from them on machinery needed for world-class skills train...

IndianOil has jolted the bulk diesel market, increasing its share by 10 percentage points in April-May and wresting ground from Reliance Industries and Rosneft-backed Nayara Energy-a striking reversal driven by new chairman A S Sahney's break from predecessor SM Vaidya's margin-first playbook in favour of market dominance.IndianOil's share surged to 53.5% in April-May this year, up from 43.6% in the same period last year, forcing private sector rivals RIL and Nayara to surrender a combined 7 percentage points from their last year's share of 25.7%. RIL's share dropped to 9.9% from 13.8%, while Nayara's fell to 8.7% from 11.9%. Among state-run firms, Hindustan Petroleum's share contracted to 12.9% from 14.2% and Bharat Petroleum's declined to 12.5% from 14.8%.IndianOil is using aggressive price discounts to boost volumes and push competitors aside, multiple industry executives said. Lower crude prices-currently around $65 per barrel, down from nearly $80 i...

from Economic Times https://ift.tt/g6mFNYv

Mumbai: India's cable television industry has undergone a significant contraction over the past seven years, with an estimated 577,000 cumulative job losses between 2018 and 2025, driven largely by a sharp decline in pay-TV subscribers, according to a report released on Monday.Pay-TV subscriber base dropped from 151 million in 2018 to 111 million in 2024 and is expected to fall further to between 71-81 million by 2030, said the report, 'State of Cable TV Distribution in India', jointly prepared by the All India Digital Cable Federation (AIDCF) and EY India.It attributed the decline to rising channel costs, increased competition from OTT platforms and growing popularity of free, unregulated services such as DD Free Dish.Cumulative revenues of four DTH players and 10 major cable TV providers, or multi-system operators (MSOs), have declined by more than 16% since 2018 while their margins have reduced by 29%, the report said. In FY19, their combined revenue stood at ₹25,700 cro...

Carlos Alcaraz saved three championship points as he produced an astonishing fightback from two sets down to beat Jannik Sinner in a French Open final for the ages on Sunday.Reigning champion Alcaraz rallied from the brink of defeat to overcome world number one Sinner 4-6, 6-7 (4/7), 6-4, 7-6 (7/3), 7-6 (10/2) to clinch his fifth Grand Slam title after five hours and 29 minutes.The 22-year-old Spaniard is now unbeaten in five Grand Slam finals after snapping Sinner's 20-match winning run at the majors.Alcaraz pulled off his first ever comeback from two sets down to stun Sinner in the longest Roland Garros final in history. It easily eclipsed the 1982 final in Paris when Mats Wilander triumphed in four sets over Guillermo Vilas in 4hr 42min.Alcaraz becomes the third youngest man to win five Grand Slams -- after Bjorn Borg and compatriot Rafael Nadal -- following an incredible duel between the two stars of a new generation.Sinner fell agonisingly short of a third successive Grand Sla...

Indians made 156 shopping trips to grocery stores in FY25, unchanged since a year ago but the basket size increased in both value and number of packs, said a new report by global research firm Kantar.While they made a purchase once in every 56 hours or close to once in every two days, the average pack sizes have risen by 16%, indicating a shift towards slightly larger quantities. Also, the number of packs rose 13% or by 26 pieces translating into nearly 226 FMCG packs purchased on average compared to 200 packs in FY24. "This indicates confidence returning to the shopper. In addition to this, premiumisation continues, with moderate consumption growth, which leads us to believe that we would see moderate to strong growth in urban FMCG building up in the next quarters," said K Ramakrishnan, managing director, South Asia, Worldpanel Division. "If the macroeconomic factors remain favourable, we should also see rural recovery as we head into the second half of the year."D...

from Economic Times https://ift.tt/muinRkH

from Economic Times https://ift.tt/wNqflRa

from Economic Times https://ift.tt/tq4W1Yc

from Economic Times https://ift.tt/KdAaZRP

The technology industry wants the power levels permitted for Wi-Fi and other devices to be used under the 6 GHz spectrum band to be reviewed and aligned with global standards, so that users can get the best performances and devices remain affordable.The Department of Telecommunications (DoT) has come out with draft rules for use of low power and very low power wireless systems in the lower 6 GHz band, which has been delicensed, or will be allocated without auctions. Once the consultation on the draft rules is over, the final rules will be notified allowing the latest Wi-Fi routers and gaming consoles to work in India.As per experts, the current power levels proposed by DoT may limit the range and throughput of very low power devices. The DoT has proposed a maximum power spectral density (PSD) level of -5 dBm/MHz and total transmit power of 14 dBm for such devices.121655615The industry wants it to be revised to 1 dBm/MHz for very low power indoor and outdoor devices otherwise it could h...

from Economic Times https://ift.tt/ZeWShU3

Insolvency appellate tribunal NCLAT on Wednesday declined any immediate relief by staying the NCLT order directing freezing assets of Gensol, its promoters, and related entities. It has directed two Gensol Group entities -- BluSmart Premium Feet and Matrix Gas and Renewable -- to approach the Ahmedabad bench of the National Company Law Tribunal (NCLT) with their plea, where the matter has been listed for hearing on June 12. Passing an order on the plea by the Ministry of Corporate Affairs, a vacation bench of the NCLT had on May 28 directed to freeze assets of Gensol, its promoters, and related entities. The two Gensol Group entities approached the National Company Law Appellate Tribunal (NCLAT), challenging the order and seeking an immediate stay on the orders passed by the NCLT. They had contended that NCLT passed the order on May 28 without giving them a proper hearing, which is against the rules. BluSmart Premium provides electric vehicle ride-hailing service BluSmart Mobility, whi...

from Economic Times https://ift.tt/ZYwAftH

from Economic Times https://ift.tt/uRAampU

from Economic Times https://ift.tt/yDYcldn

from Economic Times https://ift.tt/YDdWtgU

Mumbai: Galactus Funware Technology, the parent company of online gaming platform MPL (Mobile Premier League), has issued a legal notice to the Advertising Standards Council of India (ASCI), demanding the immediate withdrawal of a whitepaper titled 'Examining Opinion Trading in India' and seeking ₹50 crore in damages for alleged defamation and loss of goodwill.The legal notice, dated May 23, 2025, sent through their legal counsel Trilegal, accuses ASCI of publishing a "biased and unsubstantiated" whitepaper that relies on "tampered" versions of MPL's advertisements and misrepresents their content to mislead consumers.Edited screenshotsGalactus Funware claims that the ASCI whitepaper, published in May 2025, deliberately edited screenshots of their advertisements to support a "baseless conclusion" that opinion trading involves an "element of risk" and "chances of financial losses".The notice highlights specific instances of al...

from Economic Times https://ift.tt/7dZUv6x

from Economic Times https://ift.tt/j5BgFNy