Clipped from: https://www.business-standard.com/finance/personal-finance/new-i-t-bill-not-to-have-provisos-may-come-up-in-cabinet-on-friday-125020601109_1.html The new bill, which will replace the six-decade-old Income Tax Act, is likely to be discussed at the Cabinet meeting on Friday, sources
Day: February 6, 2025
*****CGST amendment on credit notes may raise compliance burden for suppliers
According to the experts, till the time invoice management system (IMS) — an automated system to track and verify invoices issued by businesses to help
DeepSeek limits access to its AI model as demand strains capacity | World News – Business Standard
Clipped from: https://www.business-standard.com/world-news/deepseek-limits-access-to-its-ai-model-as-demand-strains-capacity-125020601269_1.html In a posting on its website, the company said it suspended the ability of customers to top up their API credits to avoid
Homemade meals get dearer in Jan, non-veg thali pinches more: Crisil report | Economy & Policy News – Business Standard
lipped from: https://www.business-standard.com/economy/news/homemade-meals-get-dearer-in-jan-non-veg-thali-pinches-more-crisil-report-125020601399_1.html A jump in the chicken prices led to a more pronounced jump in the non-vegetarian thali, the monthly roti, rice rate report by
*Malicious iOS, Android apps can read screenshots for passwords: Here’s how | Tech News – Business Standard
Clipped from: https://www.business-standard.com/technology/tech-news/malicious-ios-android-apps-can-read-screenshots-for-passwords-here-s-how-125020600958_1.html Reportedly, some malicious apps on App Store and Play Store have been using Optical Character Recognition (OCR) technology to extract crypto wallet passwords
*******No tax on income up to Rs 12 lakh, but it’s a rebate, not an exemption
A rebate applies after tax is calculated, reducing the final amount payable, much like a discount Budget 2025 has proposed making normal income up to
Growth in services sector slows to more than 2-year low: PMI survey | Economy & Policy News – Business Standard
Clipped from: https://www.business-standard.com/economy/news/growth-in-services-sector-slows-to-more-than-2-year-low-pmi-survey-125020500561_1.html Overall new business continued to increase strongly as companies report rise in costs, it says The HSBC final India Services Purchasing Managers’ (PMI)
*****Ibbi proposes coordinated insolvency resolution for interconnected entities | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/ibbi-proposes-coordinated-insolvency-resolution-for-interconnected-entities-125020501177_1.html Ibbi has noted that the current IBC process treats each entity as a standalone unit, overlooking the intricate web of interdependencies often present
Make OpenAI affordable for developers: Top Indian startup chiefs to Altman | Tech News – Business Standard
Clipped from: https://www.business-standard.com/technology/tech-news/make-openai-affordable-for-developers-top-indian-startup-chiefs-to-altman-125020501622_1.html The importance of India to OpenAI was stated by Altman, when he said that India is the second largest market for OpenAI industry
*****Budget tweaks Customs duties to boost local manufacturing amid US tariffs
Clipped from: https://www.business-standard.com/opinion/columns/budget-tweaks-customs-duties-to-boost-local-manufacturing-amid-us-tariffs-125020501756_1.html Average tariff levels: India’s average import tariff stands at 17 per cent, while the trade-weighted rate is lower at 12 per cent, according
*****Budget bets on tax cuts over capex-will it boost private investment? | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/budget-bets-on-tax-cuts-over-capex-will-it-boost-private-investment-125020501748_1.html An income-tax cut instead of a corporate tax cut in 2019 would have done more for the economy After a heavy focus on
*******MPC should wait and watch as global risks complicate rate decisions
Clipped from: https://www.business-standard.com/opinion/columns/mpc-should-wait-and-watch-as-global-risks-complicate-rate-decisions-125020501742_1.html Global uncertainty demands caution on monetary policy Listen to This Article The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India
*******What is rebate under Section 87A? How does it differ from income tax deductions, exemptions? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/blexplainer/bl-explainer-what-is-rebate-under-section-87a-how-does-it-differ-from-income-tax-deductions-exemptions/article69182958.ece An exemption is one that is adjusted right at the stage of computing GTI. A rebate is a discount applied directly to the
*****Finance Ministry advises against using AI tools like ChatGPT and DeepSeek due to confidentiality risks – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/finance-ministry-advises-against-using-ai-tools-like-chatgpt-and-deepseek-due-to-confidentiality-risks/article69183865.ece Finance Ministry’s internal advisory is issued at a time, when India is all set to launch its own safe & secure indigenous AI
*******In big relief, buyers can get possession of flats, plots during insolvency process – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/real-estate/ibbi-unlocks-stalled-homes-possession-now-possible-during-insolvency/article69184083.ece In a game-changing move, homebuyers can now take possession of their properties while insolvency proceedings continue, ending years of uncertainty. In a big
*******“I don’t think the fear of AI is necessary,” says IMF ED Subramanian – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/ai-will-have-far-more-impact-on-white-collar-jobs-while-previous-innovations-had-impact-on-blue-collar-jobs-imf-ed-subramanian/article69184277.ece “Whenever there is an innovation that comes, we react with complacency or with fear,” he said Whenever there is a technological advance, there’s
*The Budget proposals on MSMEs are welcome – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/the-budget-proposals-on-msmes-are-welcome/article69184823.ece FICCI has consistently advocated for scaling up India’s SMEs Budget 2025-26 is another decisive step forward in our journey towards ‘Viksit Bharat’. While
*******Sober Budget, amidst middle class euphoria – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/opinion/sober-budget-amidst-middle-class-euphoria/article69184978.ece The middle class would also be expecting an MPC rate cut for its consumption, but RBI needs to factor in stubbornly high inflation
*Simplify assessment – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/simplify-assessment/article69185024.ece Timely disposal of I-T appeals is a key demand The Finance Minister, in her Budget 2025-26 speech, announced that the new Income-Tax Bill
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