BUSINESS
Airtel surpasses 1 mn customers on it 5G network in less than 30 days
"Our network is being built every day even as all 5G devices are now capable of working on the Airtel 5G Plus network barring a few exceptions which should also be done in the coming weeks. We will continue to advance our network with a vision to connect the entire country," said Randeep Sekhon, CTO, Bharti Airtel.
Rupee has behaved in an orderly manner, says RBI Governor
Shaktikanta Das, while addressing industry body FICCI's banking summit in Mumbai, said that capital flows will resume as the US Federal Reserve will not resort to tightening of rates for a long time. The RBI Governor's comments on the rupee came just hours before the US Fed is scheduled to meet later in the day to review key rates.
Indian CV sector to log volume growth
The CV sector will register mid-to-high teens over the next couple of years, said Fitch Ratings in a report. The sector recovered 26 per cent in the fiscal 2021-22 after being hit by Covid-19. During the current fiscal, the CV majors are logging good growth driven mostly by goods carriers while sales of buses is also picking up.
Investment in India is about inclusion, democracy & safer planet, says Prime Minister
Prime Minister Narendra Modimade the observation while inaugurating "Invest Karnataka" a three-day Global Investors Meet (GIM), under the theme "Build for the world" here. While participating virtually in the event, Prime Minister Modi emphasised that investment in India is about investment for a better, cleaner and safer planet. "Let us all come forward to change crores of lives," he underlined.
CBDT proposes common ITR form
It has suggested merging of all the existing ITR forms except ITR 7, though ITR 1 and ITR 4 will continue to remain in use. Under the CBDT's proposal, taxpayers will have choice to choose the form for filing returns, official sources said. They could either choose from the proposed common ITR form or the existing ITR 1 or ITR 4 forms. As of now, returns are filed through ITR 1 to 7, depending on the nature of the income and the legal classification of the taxpayer.
Govt cuts windfall tax on domestic crude oil, hikes levy on jet fuel
Tax on domestically produced crude oil was brought down to Rs 9,500 per tonne from Rs 11,000, effective November 2, a notification said. Windfall tax on jet fuel was increased to Rs 5 per litre, from Rs 3.50 per litre. The government also hiked the levy on export of diesel to Rs 13 per litre from Rs 12 per litre. The government on Tuesday exempted oil seeds and edible oil wholesalers as well as big chain retailers from the current stock limit order, with immediate effect.
UPI processes record 7.3 billion transactions in October
"UPI has been a game changer in real-time payments and is the most preferred choice of payment. UPI platform recorded 6.8 billion transactions in September 2022 and the festive month gave further boost with transactions reaching 7.3 billion in October," said Sanjeev Chandak, Co-founder and CEO of fintech platform ftcash.
CBDT condones delay in filing of Form 10A
As per the provisions of the act, Form 10A was required to be filed electronically by June 30, 2021. However the deadline was extended to August 31, 2021, and then to March 31, 2022. The extensions were given in view of the representations received by the CBDT and with a view to avoid genuine hardship to taxpayers.
Tata Sons Chairman responds to Nitin Gadkari letter, assures evaluating new investment opportunities
"I have gone through the information in your letter about the various business opportunities in Nagpur for the Tata Group. I have also noted the availability of both SEZ and non SEZ land in areas which are well connected via road, rail and airways," said the Nitin Gadkari's written letter on October 19.
IDBI Bank declared former directors of Amtek Auto Ltd 'fraud', CBI to SC
The CBI, in an affidavit, said it has approached 19 banks/financial institutions, out of which IDBI Bank, Bank of Maharashtra, PNB, SBI and IFCI Ltd. have responded to its query furnishing the status of declaration of the account as fraud and regarding filing of complaints with the CBI in case the account is declared as fraud.
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