Business

  • Pay penalty if not already filed I-T returns, no more extensions now
    NEW DELHI, JANUARY 12 (IANS): The Central Board of Direct Taxes dashed hopes of all taxpayers waiting for further extension of due dates for filing tax returns rejecting all representation in this regard, citing that the process cannot be delayed 'indefinitely' and hamper the functioning of the tax department and welfare programmes of the government. The decision means that individual taxpayers who have missed the January 10 deadline for filing returns may now have to pay a
  • Samsung launches updated programme to recycle old Galaxy devices
    SEOUL/NEW DELHI, JANUARY 12 (IANS): Samsung Electronics has unveiled an updated programme to recycle old mobile devices at home with Internet of Things (IoT) technology as part of the South Korean tech titan's vision for a sustainable future. Samsung unveiled "Galaxy Upcycling at Home" programme at the Consumer Electronics Show (CES) 2021 late on Monday. "The new programme reimagines the lifecycle of an older Galaxy phone and offers consumers options on ho
  • India taps Industry 4.0 revolution to boost blue economy
    NEW DELHI, JANUARY 12 (IANS): Indias marine scientific research capability has received a boost with the commissioning of coastal research vessel (CRV) Sagar Anveshika. The vessel joins the fleet of three other vessels of the same class -- Sagar Tara, Sagar Nidhi, and Sagar Sampada --and will help Indian scientists to undertake a variety of oceanographic research tasks. The vessel is fitted with 'state of the art' laboratories and 25 scientists can be embarked to conduct res
  • UP farmers export 30 metric tonnes of green chillies, tomatoes to B'desh, Nepal
    LUCKNOW, JANUARY 12 (IANS): Farmers from Ghazipur district have exported 30 metric tonnes of green chillies and tomatoes to Bangladesh and Nepal. As many as 1,500 farmers from Patal Ganga and adjoining areas of Ghazipur district are earning sufficient money through their hard work. In fact, the importers from Nepal and Bangladesh also visited the farmers in Ghazipur to make their payment. In Ghazipur, farmers are being provided the expertise to export along with higher productivi
  • Petrol, diesel prices hold even as crude remains strong
    NEW DELHI, JANUARY 12 (IANS): Retail fuel prices across the four metro cities remained unchanged for the fifth consecutive day on Tuesday. Accordingly, in the national capital, petrol was sold at the record high of Rs 84.20 per litre, reached on Thursday (January 7). In Mumbai, Chennai and Kolkata, the fuel was priced at Rs 90.83, Rs 86.96 and Rs 85.68 per litre, respectively. Petrol and diesel prices had increased on two successive days last Wednesday and Thursday taking gaso
  • Middle class to gain from higher tax deductions likely in Budget 2021
    NEW DELHI, JANUARY 11 (IANS): Middle class tax payers may get a lot to cheer about the Budget proposals to be presented by Finance Minister Nirmala Sitharaman next month. Sources said that the Budget 2020-21 may take the sops announced earlier under the Atmanirbhar Bharat package to help people in their fight against the Covid-19 pandemic further, by raising the basic tax exemption limit for an individual income tax payee to Rs 5 lakh from Rs 2.50 lakh at present to enhance net disp
  • Work on Varanasi-Delhi bullet train project gains momentum
    New Delhi, January 11 (IANS): Over three years after Prime Minister Narendra Modi laid the foundation stone of India's first 508-km Mumbai-Ahmedabad High-Speed Rail corridor, the work on the second such rail corridor in the country -- on the Delhi-Varanasi route -- has gained momentum. An aerial LiDAR survey of the 800-km Delhi-Varanasi High-Speed Rail (DVHSR) corridor has now been undertaken by the Railways as part of the project to connect Modi's parliamentary constituency
  • Price lift for steelmakers; Decadal high domestic steel prices
    NEW DELHI, JANUARY 11 (IANS): Domestic steel prices defied predictions and ascended through the December quarter as three tailwinds converged -- high global prices, tight domestic supply on account of iron ore shortage, and healthy demand growth, Crisil research report said on Monday. Accordingly, steel makers have raised the prices of benchmark hot-rolled coils (HRC; average monthly price) multiple times since August, rising by as much as Rs 13,800 per to Rs 51,050 per tonne in Dec
  • Airtel, NSIC partner for digital transformation of Indian MSMEs
    NEW DELHI, JANUARY 11 (IANS): Telecom major Bharti Airtel on Monday announced its partnership with National Small Industries Corporation (NSIC) to accelerate the digital transformation of Micro, Small and Medium Enterprises (MSMEs) in India. NSIC is a Government of India Enterprise having its mission "to promote and support MSME sector by providing integrated support services encompassing marketing, technology, finance and other services". This partnership with NSI
  • Travel industry urges govt to announce dates for restoration of tourist visas
    NEW DELHI, JANUARY 11 (IANS): Now that the government is close to initiating a vaccination plan for Covid-19, fresh hope is riding among inbound tour operators about resumption of their business which is the hardest hit during the pandemic. The Indian Association of Tour Operators, has urged the Ministry of Tourism and Ministry of Home Affairs to announce the dates for restoration of e-visas and tourist visas and for normalisation of international flights or prepare a road map with
  • Petrol, diesel prices remain unchanged across metros
    NEW DELHI, JANUARY 11 (IANS): Retail fuel prices across the four metro cities remained unchanged for the fourth consecutive day on Monday. Accordingly, in the national capital, petrol was sold at the record high of Rs 84.20 per litre, reached on Thursday (January 7). In Mumbai, Chennai and Kolkata, the fuel was priced at Rs 90.83, Rs 86.96 and Rs 85.68 per litre, respectively. Petrol and diesel prices had increased on two successive days last Wednesday and Thursday taking gaso
  • Global PC shipments hit 91.6 mn units in Q4 2020, Lenovo leads
    NEW DELHI, JANUARY 11 (IANS): Work from home and remote learning amid the pandemic kept the worldwide traditional PC sales on fire in the fourth quarter of 2020, logging 26.1 per cent (on-year) growth to reach 91.6 million shipment units, the IDC said on Monday. Lenovo with 25.2 per cent share led the global PC shipments, follewed by HP Inc with 20.9 per cent and Dell with 17.2 per cent share at the third spot, according to the IDC's 'Worldwide Quarterly Personal Computing D
  • Axis Bank offers term deposits without penalty on premature closure
    NEW DELHI, JANUARY 11 (IANS): Axis Bank, India's third-largest private sector bank, on Monday announced the removal of penalty on premature closure of all new retail term deposits booked on or after December 15, 2020 for a tenure of 2 years or more. The objective of this customer-friendly feature is to inculcate and encourage retail customers to go for long-term savings without worrying about the sudden need for liquidity, the bank said in a statement. The new feature will be
  • Sensex trades over 49,000 on global cues, Q3 earnings
    Mumbai, January 11 (IANS): The bullish sentiments in the Indian equity market continue to hold strong as the BSE Sensex crossed the 49,000-mark for the first time in its history. The rise in domestic indices came on the back of a positive trend in the global markets along with robust Q3 earnings. Healthy buying was witnessed in IT stocks, which surged on the back of strong third quarter of the Tata Consultancy Services. IT major TCS on Friday reported a rise of 7.2 per cent in
  • Apple, Amazon remove Parler from their platforms
    Washington, January 10 (PTI): Technology giant Apple has suspended US-based microblogging platform Parler, where most of the supporters of outgoing President Donald Trump are shifting their base, from its Play Store, asserting that there is no place on its platform for threats of violence and illegal activity while e-commerce major Amazon also removed the social network favoured by conservative politicians. The move comes a day after Apple warned Parler, saying it has received numer
  • Manufacturing, infra push to boost logistics in India, automation to be key in 2021
    NEW DELHI, JANUARY 10 (IANS): The logistics sector is at the cusp of the next phase of growth on the back of the push for manufacturing and infrastructure development in the country, market players feel. With the country emerging out of the pandemic, and technology taking a whole new meaning in this post-Covid world, they feel, automation will be the next big thing in logistics. "Multinationals and global supply chains in the reviving times are finding India an attractive lo
  • India now looks to build strategic gas reserve
    NEW DELHI, JANUARY 10 (IANS): After oil, India may now build strategic reserve of natural gas to further strengthen the country's energy security and shield itself from supply disruptions and frequent price fluctuations coming from perennial political risks in the prime energy supplying countries in the Middle East and Africa. The reserve will also help the country cope with demand spike and price rise in the event of border skirmishes and war like situations that played out rec
  • 215 held in two months in fake GST invoice fraud cases
    New Delhi, January 10 (IANS): As many as 215 persons have been arrested in the last two months across the country in a drive against fake GST invoice fraud cases perpetrated through fake entities and fly-by-night operators who fraudulently availed input tax credit (ITC) in multi-layered scams. Those arrested by the Directorate General of GST Intelligence (DGGI) and the CGST Commissionerates include six Chartered Accountants and one Company Secretary, sources said. Others arrested
  • Petrol, diesel prices remain unchanged across metros
    New Delhi, January 10 (IANS): Retail fuel prices across the four metro cities remained unchanged for the third consecutive day. In the national capital, petrol was sold at the record high of Rs 84.20 per litre, reached on Thursday (January 7). In Mumbai, Chennai and Kolkata, the fuel was priced at Rs 90.83, Rs 86.96 and Rs 85.68 per litre, respectively. Petrol and diesel prices had increased on two successive days last Wednesday and Thursday taking gasoline to record high leve
  • Airtel appoints Pradipt Kapoor as Chief Information Officer
    New Delhi, January 10 (IANS): Telecom major Bharti Airtel on Sunday announced the appointment of Pradipt Kapoor as its Chief Information Officer (CIO). In his new role, Kapoor will drive Airtel's overall engineering strategy and be a key player in helping realise the company's digital vision, Bharti Airtel said in a statement. He will be member of the Airtel Management Board and report to Gopal Vittal, MD & CEO, Bharti Airtel. Kapoor's most recent assignment wa