ITR-2, ITR-3 for FY 2023-24 notified by CBDT; More details required from certain taxpayers
ITR-2 and ITR-3: Income tax return (ITR) forms have been notified by the central board of direct taxes (CBDT) via an notification in e-gazette. ITR-2 is to be filed by those who have capital gains income and are ineligible to file ITR-1. Do note that ITR-3 is to be filed by those entities who have income from business or profession. Key Points
Economic TimesMacau in China ends outdoor mask wearing as Covid-19 situation stabilises
Starting Monday, people in Macau won’t be required to wear masks while outdoors. Masks are still required for visitors entering medical institutions and elderly homes or while riding public transport, excluding taxis. | Travel Key Points
Hindustan TimesMercedes chief Toto Wolff, Ferrari boss Frederic Vasseur reprimanded for using abusive language
Mercedes chief Toto Wolff and Ferrari boss Frederic Vasseur have been reprimanded for the language they used regarding Carlos Sainz's recent manhole mishap. The two will be required to present themselves to the stewards on Thursday. Key Points
Economic TimesM&M buys 3.5% stake in RBL Bank for Rs 417 crore; may raise stake further
“We may consider further investment subject to pricing, regulatory approvals and required procedures. However, in no circumstances will it exceed 9.95,” M&M says Key Points
Economic TimesStatus quo is not an option for Tata Steel UK: MD, TV Narendran
The Rishi Sunak-led government's earlier proposal barely covered a fifth of the estimated capital cost required at Port Talbot Steelworks, Narendran said. The company's European operations continued to be a drag on its consolidated financials. Edited excerpts: Key Points
Economic Times
Need to focus on infra, investment, innovation, inclusivity for sustainable growth: Nirmala Sitharaman
Elaborating on the four Is, the Minister said investment is essential to spur infrastructure development, which has a potential to generate jobs. The third I is for innovation, she said adding innovative solutions from startups are required to deal with issues facing the countries. Key Points
Economic TimesMP govt demands over ₹6 cr from scheduled caste dept for Gwalior function
In the letter signed on April 6 by the state transport commissioner, it has requested to allot 80% i.e. Rs. 4.94 crore of the total estimated required fare amount of ₹6.18 crore, in advance Key Points
Hindustan TimesWill address EU’s carbon tax, retaliate if needed: Piyush Goyal
Under the EUs Carbon Border Adjustment Mechanism (CBAM), non-EU steel producers are required to report direct and indirect emissions. The monitoring of such products began October 1. Key Points
Economic TimesOpposition accuses Rajya Sabha chairman of defending PM. Dhankhar’s response
Rajya Sabha Chairman Jagdeep Dhankhar on Thursday asserted that his duty was to defend the Constitution and people's rights, not to defend any individual, including Prime Minister Modi. Dhankhar's statement came in response to Kharge's accusations over the Manipur issue. Key Points
India TodayI-T department tweaks disclosure norms for charitable institutions claiming exemption
The income tax department has made changes to the disclosure requirements for charitable institutions seeking income tax exemption. Effective from October 1, the amendments to the Income Tax Rules mandate that charitable institutions must provide additional details regarding the nature of their activities. Specifically, they will now be required to disclose whether their activities are categorized as charitable, religious, or a combination of both religious and charitable. Key Points
Economic Times
Pune to get state-of-the-art Metro blood bank
A meeting was held between the FDA officials and the District Health officials on June 8. During the meeting, the final pending documents required for the licences were submitted. The Metro blood bank permission has been pending since 2012 Key Points
Hindustan TimesWhen will FNAF 2 be released? Here is what movie star Josh Hutcherson has said
The theatrical release date of FNAF depends on when filming begins in 2024. The original film began shooting on February 1, 2023. It required only a few months to film all the required material before finishing up on April 3. It hit theaters and Peacock on October 27. Know when FNAF 2 may be released if a similar timeline is maintained. Key Points
Economic TimesKovind panel suggests 18 amendments to Constitution, other statutes for simultaneous polls
A high-level committee on simultaneous elections in India has proposed 18 amendments to the Constitution and other statutes to implement the proposal. The panel, led by former president Ram Nath Kovind, recommends simultaneous elections to the Lok Sabha and state assemblies as the first step followed by synchronised local body polls within 100 days. Key Points
Economic TimesGreece to raise Golden Visa investment amount in areas where rent is high
Greek Prime Minister Kyriakos Mitsotakis is considering raising the minimum investment required for foreign property buyers to be eligible for a Golden Visa. The proposed measure aims to manage the surge in demand for housing and target areas with higher rental prices. Key Points
Economic TimesUS NSA Jake Sullivan set to visit India this month
The proposed visit comes in the backdrop of the US government last week approving sale of 31 MQ9B drones to India. The Defence Security Cooperation Agency said the US state department gave the approval for drones and related equipment worth $3.99 billion. The agency said it had also delivered the required certification notifying Congress of the sale. Key Points
Economic Times
Budget 2024: Exporters body seeks global shipping line, extension of manufacturing sop till 2027
The Federation of Indian Export Organisations (FIEO) has urged the government to develop a global shipping line in partnership with the private sector and provide tax incentives for research and marketing activities in the upcoming Budget. It also suggests extending the sunset date for commencing manufacturing and increasing weighted tax deductions for R&D. Key Points
Economic TimesSony, Zee agree to enter into good faith negotiations to extend cut-off date
“Zees notice to the Bombay Stock Exchange and the National Stock Exchange of India dated December 17 is an acknowledgment that they will not be able to meet the December 21, 2023, deadline to close the SPNI/ZEE merger,” the SPNI statement read. It added that the ZEEL notice triggers an existing contractual provision in the deal that allows for both parties to discuss the possibility of extending the deadline. Key Points
Economic TimesSamosa to dosa, lip-smacking jowar recipes for your winter indulgence
High in fibre and resistant starch, jowar can work wonders in controlling chronic disease symptoms. Here are delicious sorghum recipes to savour this winter. Key Points
Hindustan TimesDU Admission 2023: COL begins registration for certificate courses
Candidates can either apply offline, or submit a copy of the application form filled online on col.du.ac.in along with required documents. Key Points
Hindustan TimesChina ramps up campaign to boost fragile economy, currency
The central bank will trim the amount of foreign currency deposits banks are required to hold as reserves for the first time this year, the Peoples Bank of China said Friday. The move came hours after authorities announced fresh stimulus for the beleaguered property sector and unveiled plans to expand tax breaks for child and parental care and education. Key Points
Economic Times
Who has to get their accounts audited before filing ITR
The Income Tax Act, 1961 has mandated certain taxpayers to get their books of accounts audited and submit a tax audit report by September 30. This audit is different from audit done under any other Act like Companies Act, 2013, etc. Read here to know who is required to get their accounts audited for income tax purposes. Key Points
Economic TimesChintan Shivir to focus on ensuring high growth rate
The finance and corporate affairs ministries plan to hold a two-day Chintan Shivir starting 20 August at Gujarat's Kevadia, which will comprise short and long-term measures to sustain growth rates, control inflation and tackle external challenges. Finance and corporate affairs minister Nirmala Sitharaman is expected to attend, while senior ministry officials will also be present. Key Points
Economic TimesChintan Shivir to cocus on ensuring high growth rate
The finance and corporate affairs ministries plan to hold a two-day Chintan Shivir starting 20 August at Gujarat's Kevadia, which will comprise short and long-term measures to sustain growth rates, control inflation and tackle external challenges. Finance and corporate affairs minister Nirmala Sitharaman is expected to attend, while senior ministry officials will also be present. Key Points
Economic TimesPassport offices overflowing with Gujaratis attempting to fix traditional 'suffixes' in their names
Officials at the RPO acknowledged that this linguistic practice stems from the region's speech patterns. However, it becomes problematic when the suffixes vary across the documents required for passports and visas. Wren Mishra, from RPO Gujarat, disclosed that they receive approximately 4,000 daily applications, of which around 1,000 pertain to name changes, alterations in birthplace, or adjustments in birth dates. Of these, approximately 800 requests involve the addition or removal of suffixes like 'ben,' 'bhai,' and 'Kumar.' Key Points
Economic TimesMicrosoft to pay $20 million to resolve FTC kids’ privacy case
Microsoft required anyone using the Xbox Live service to register with a name, email address and age information. But even when the company was aware of users under age 13 it continued to collect and retain data in violation of a US kids’ online privacy law. Key Points
Financialexpress
Congress crosses 113-seat majority mark required to form government in Karnataka
On the other hand, the BJP won 55 seats and was ahead in 9 segments. The JD(S) emerged victorious in 18 seats and was leading in two constituencies. Two independents, one candidate each from 'Kalyana Rajya Pragathi Paksha' and 'Sarvodaya Karnataka Paksha' won. Key Points
Economic Times41 lakh homes in the pipeline in state
Over 1.6 crore citizens are waiting for delivery of 41 lakh homes in the pipeline which has an estimated investment of ₹14 lakh crore, said Maharashtra Real Estate Regulatory Authority (MahaRERA) chairperson Ajoy Mehta, emphasising why regulation was required from the government. | Mumbai news Key Points
Hindustan TimesHow college academics differ between the US and the UK
Jules Adamska is a student in Scotland who's studying abroad in California. She's surprised by the academic differences between the countries. Key Points
InsiderSC takes note of HPC report, permits Vedanta to carry out upkeep of its closed Tuticorin plant
The top court took note of the July 2022 report of the High Powered Committee, set up by the Tamil Nadu government, for carrying out a 'Civil and Structural Safety Integrity Assessment Study' of the plant. At least 13 people were killed and several injured on May 22, 2018 when police had opened fire on a huge crowd of people protesting against environment pollution being allegedly caused by the factory. Key Points
Economic TimesFrom Vikram Vedha to Fighter, here's how Hrithik Roshan balances between the actor and star in him-Entertainment News , Firstpost
Hrithik Roshan became an overnight sensation with his debut Kaho Naa..Pyaar Hai and 23 years down the lane, he continues to remain relevant and revered considering how he has always managed to strike a balance between films that won him praise and that amassed him fandom! Key Points
Firstpost