Business

Income tax assessments will be "completely faceless", without the taxpayer having to face the taxman in about two years and the assessees will be provided pre-filled return forms as part of the government's initiative to simplify procedures, a senior government

Real estate players welcomed the tax benefits and exemptions announced in the Interim Budget which are likely to boost the realty demand, more so in the affordable segment.

Presenting the Interim Budget, Finance Minister Piyush Goyal proposed a slew of measures to boost the real estate sector which includes extending the exemption period for levy

State Bank of India (SBI), the country's largest lender, has fixed a glitch in its systems that may have exposed the financial information of millions of customers.

"SBI would like to assure all its customers that their data is safe and secure and SBI is fully committed to ensuring this," the bank said in a statement late on Friday.

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Telecoms company Reliance Communications (RCom) will propose a plan to sell its telecom infrastructure assets, airwaves and real estate to resolve its debt, the firm said on Sunday.

RCom, controlled by businessman Anil Ambani, last week said it will

High interest and fuel cost continued to dampen sales for some automobile companies in January. On Friday, automobile major Maruti Suzuki India reported a marginal growth in its overall sales, including exports for January which

Over Rs 16,000 crore has been earmarked for the Ministry of External Affairs in the 2019-20 budget, an increase of more than Rs 1,000 crore from the previous fiscal, with a massive jump in aid allocation for Maldives and African nations.

The total aid to countries has increased by about

Jindal Steel and Power reported a narrower third-quarter loss, helped by stronger revenue from its key product segments that include hot-rolled coils, sheets and plates.

The loss came in at 2.41 crore ($336,740) for the third quarter ended December 31, compared

Lenders of the cash strapped Jet Airways will restructure loans given to the airline under the 'Sashakt' scheme, State Bank of India (SBI) Chairman Rajnish Kumar said on Friday.

Speaking at a concall after the third quarter earning results on Friday, Kumar said the debt recast proposal

Union Minister Piyush Goyal on Friday announced a slew of changes in tax rules, from a full rebate on personal income up to Rs 5 lakh in a year to a 25 per cent hike in standard deduction threshold. "This is not just an interim budget, this is a vehicle for the developmental

From the announcement of a full tax rebate on an annual income up to Rs 5 lakh to a 25 per cent hike in standard deduction applicable to the salaried and pensioners, the Budget 2019 proposes few key changes to income tax laws. Once the new income tax

Reversing the declining trend of two months, the revenue collection under the Goods and Services Tax (GST) showed a marked improvement in January and stood at Rs 1,02,503 crore, crossing the Rs 1-lakh crore-mark only for the third time this fiscal.

The January

The defence budget was increased by 6.87 per cent to Rs 3.18 lakh crore against last year's allocation of Rs 2.98 lakh crore, notwithstanding expectations of a major hike when China and Pakistan were bolstering their military capabilities.    

Out of the total

Budget 2019 proposals provide for a slew of benefits for property owners. In his Budget speech, Union Minister Piyush Goyal proposed to exempt levy of income tax on notional rent in case of a second self-occupied property. Among measures welcomed by tax

Pharma major Dr Reddy's on Friday reported a rise of 45 per cent in its consolidated net profit for the third quarter of 2018-19, at Rs 485 crore from Rs 334 crore during the corresponding period of the previous fiscal.

The Hyderabad-headquartered company,

Reliance Communications (RCom) on Friday said it will seek fast track resolution through National Company Law Tribunal, the court that deals with bankruptcy cases, to resolve its debt position. The company said lenders had not received any proceeds from its

GST or goods and services tax collections stood at Rs 1,02,503 crore in the month of January, the government said on Saturday. The official GST data for the entire first month of calendar year 2019 came

The government has provided a token amount of just about Rs 1 lakh as budgetary support to the ailing national carrier Air India which has been saddled with a debt burden of around Rs 55,000 crore.

In the Interim Budget presented by Finance Minister Piyush Goyal to Lok Sabha on Friday, an allocation of only about Rs 1,00,000 has been

The rupee on Friday weakened by 17 paise to close at 71.25 against the dollar as concerns related to fiscal slippage weighed on the sentiment after the interim budget unveiled some big measures ahead of the general elections,

Foreign investors will remain interested in the equity market despite the 'populist' measures announced in the Interim Budget 2019-20 and its subsequent impact on the fiscal deficit target.

According to a post-Budget analysis report by HDFC Securities, foreign investors might not react negatively to the fact that government has missed its

Government poured extra money into support for farmers and a rural jobs programme, delivering on Friday in its last budget before general election due by May.

COMMENTARY:

SHASHANK MENDIRATTA, ECONOMIST, IBM, NEW DELHI

"The fiscal deficit of 3.4 per cent still looks optical for FY19, and this year we have seen low GST collections. On the revenue side,

Finance Minister Piyush Goyal presented the Interim Budget in parliament on Friday, the last Budget of the government before the general elections due by May. The minister proposed a full tax rebate to individual taxpayers with an annual income of up to

Post office, also called as Department of Post, offers nine types of small saving schemes such as saving account, fixed deposit account, senior citizen savings scheme (SCSS) account, recurring deposit account, among others. In case of some of the d

The pre-election budget of Prime Minister Narendra Modi's government, including handouts for farmers and tax cuts for the lower middle class, is likely to weigh on whoever forms the next administration, economists warned on Friday.

The government abandoned its

Relief for small taxpayers could not have waited till the full Budget, said Union Minister Piyush Goyal after presenting the election-year Interim Budget today. The minister who filled in for Finance Minister Arun Jaitley, recuperating from an illness in the US, said it was only an Interim Budget and the main Budget to be presented

The government raised its disinvestment target for 2019-20 by 12.5 per cent to Rs 90,000 crore even as less than half of the budgeted target of Rs 80,000 in the outgoing fiscal has been realised in the first 10 months.

So far, the government has raised Rs 35,532 crore from the sale of its shares in the Central Public Sector Enterprises

The Delhi Metro has been given a grant of Rs 414.70 crore in the Union Budget 2019-20 as against Rs 50 crore in the last fiscal.

Finance Minister Piyush Goyal shared the details while presenting the Interim Budget in Parliament.

According to the Delhi Metro Rail

Budget 2019: The government has pegged the fiscal deficit target at 3.4 per cent of gross domestic product (GDP) for financial year 2019-20, Union Minister Piyush Goyal said on Friday. "We would have maintained

Union Minister Piyush Goyal on Friday proposed to increase the limit for tax deduction at source (TDS) on interest income from Rs 10,000 to Rs 40,000 per annum. The proposal will benefit senior citizens and small depositors who depend upon income from interest on

Union Minister Arun Jaitley on Friday brushed aside a leaked report that suggested a four-decade high in unemployment rate under the Narendra Modi government, terming it as an "unverified draft" that cannot be taken at face value. "I don't think that is a report.

In a major relief for the middle class taxpayer, Union Minister Piyush Goyal on Friday announced a full tax rebate to individuals with income up to Rs 5 lakh in a year. "Individuals with gross income up to 6.5 lakh rupees will not need to pay any