Business

[ad_1] NEW DELHI: The government has extended the implementation timeline for the Safety of Household, Commercial and Similar Electrical Appliances Quality Control Order, 2025 by nearly one year, now scheduled to take effect from March 19, 2026, for domestic large and medium enterprises as well as foreign manufacturers.The decision follows a stakeholder consultation held on May 15, during which Commerce and Industry Minister Piyush Goyal addressed industry concerns, including issues related to legacy stock and the preparedness required for compliance. The extension aims to ease the transition and support smoother implementation.The Quality Control Order (QCO) applies to all household and commercial electrical appliances with voltage ratings up to 250 volts for single-phase and up to 480 volts for other appliances, including DC and battery-operated equipment. However, the Department for Promotion of Industry and Internal Trade (DPIIT) clarified that electrical products […]

[ad_1] NEW DELHI: The Income Tax Department has officially notified the updated return form, called ITR-U, allowing taxpayers with an extended window of four years to rectify or update their income tax returns. This move comes in line with the amendments introduced in the Finance Act, 2025.Previously, taxpayers had a 24-month period to file an updated return from the end of the relevant assessment year (AY). However, the Finance Act, 2025 has now extended this period to 48 months, offering greater flexibility for individuals and businesses to disclose previously omitted or inaccurately reported income.Reasons to file ITR-UThe ITR-U form facilitates voluntary compliance by allowing taxpayers to file an updated return in cases of:Return previously not filedIncorrect reporting of incomeWrong heads of income chosenReduction of carried forward lossesReduction of unabsorbed depreciationReduction of tax credit under sections 115JB/115JCApplication of wrong rate of […]

[ad_1] NEW DELHI: The rupee declined by 16 paise to settle at 85.58 against the US dollar on Tuesday, weighed down by weak domestic equity markets and a rise in US Treasury yields. The drop marked a reversal from Monday’s gain, when the rupee had appreciated by 15 paise to close at 85.42.Currency dealers attributed the pressure on the rupee to the recent uptick in the US 10-year Treasury yield, which reflects mounting concerns over fiscal and monetary policy outlooks in the US and is contributing to higher global borrowing costs. Additionally, continued outflows of foreign investment and elevated crude oil prices added to the strain on the domestic currency, though a weaker US dollar index helped contain further losses, reported PTI.At the interbank foreign exchange market, the rupee opened at 85.47 and moved between an intraday high of 85.39 […]

[ad_1] NEW DELHI: Elon Musk on Tuesday reaffirmed his commitment to lead Tesla for at least the next five years, addressing investor concerns and political backlash during a video appearance at the Qatar Economic Forum hosted by Bloomberg. His remarks followed a recent trip to Doha as part of US President Donald Trump’s Middle East delegation.When moderator Mishal Husain asked whether he intended to remain Tesla's chief executive, Musk replied simply, "Yes." Pressed further on whether he had any doubts, he quipped: "I can't be still here if I'm dead."Tesla has faced mounting scrutiny in recent months following Musk’s collaboration with President Trump’s Department of Government Efficiency, a controversial initiative that oversaw sweeping cuts across the US federal workforce. The association led to a decline in Tesla's sales and share price, as well as violent protests targeting the company's dealerships.Asked […]

[ad_1] Tesla CEO Elon Musk on Tuesday announced he will remain at the helm of the electric vehicle giant for at least the next five years, brushing off criticism over his political involvement with US President Donald Trump and insisting that Tesla’s sales and market position have rebounded sharply.“We're strong everywhere else. So sales are... doing well at this point,” Musk said during a video appearance at the 2025 Qatar Economic Forum hosted by Bloomberg. “We're now back over a trillion dollars in market cap, so clearly, the market is aware of the situation, so it's already turned around.”The remarks come after months of consumer backlash and investor unease coupled with violent protests targeting Tesla dealerships, following Musk’s prominent role in Trump’s federal workforce reduction effort, part of what the administration calls the "Department of Government Efficiency." The political alignment […]

[ad_1] The Trump administration is bringing The One Big Beautiful Bill, which carries significant implications for many Indians residing in the US. (AI image) India is staring at a double whammy - It is at the risk of losing a several billion dollars remittance lifeline as US President Donald Trump cracks down on migration. Not only that, the US is also proposing to tax remittances, a move that will add to the woes of Indians in the US who remit money back home. Globally, remittances from overseas workers play a crucial role in sustaining local economies. Developing nations like India heavily rely on these financial transfers, with numerous villages substantially dependent on overseas remittances. India stands as the largest beneficiary of such transfers, receiving approximately $120 billion in the previous fiscal year, matching the government's yearly infrastructure expenditure, according to […]

[ad_1] Tata Electronics is continuing its rapid expansion, having purchased the Indian operations of Apple suppliers Wistron and Pegatron. (AI image) Tata Electronics has commenced iPhone assembly operations, including iPhone 16 and iPhone 16e models, at its Hosur facility. This strategic move positions them to become a significant player in the smartphone supply chain sector, currently led by Taiwanese companies like Foxconn, according to industry experts.Tata Electronics is continuing its rapid expansion, having purchased the Indian operations of Apple suppliers Wistron and Pegatron.The company has established a dedicated mobile phone assembly unit at the facility, as sources told ET.Also Read | Donald Trump’s dream to have Apple ‘Make in US’ may raise iPhone price to $3,000: ExpertsPreviously limited to manufacturing iPhone enclosures at Hosur, Tata Electronics has expanded its operations. "Earlier, Tata Electronics was doing assembly at their Wistron facility […]

[ad_1] Moody’s Ratings said that continued uncertainty surrounding US tariffs is adversely affecting the credit profile of debt issuers across emerging global markets, including corporations, governments, and financial institutions.“The on-again, off-again nature of US tariffs and the difficulty in predicting US trade policy have negative credit consequences for emerging market debt issuers,” Moody’s said in a recent repor. The agency also cited rising geopolitical tensions, such as of India-Pakistan, as additional challenges facing emerging economies, as reported by news agency PTI.While exporters are directly exposed to shifts in US tariff policy, most debt issuers face broader, indirect impacts. These include slower economic growth, commodity price volatility, currency depreciation, and increased investor risk aversion.“The raft of tariffs the US administration has announced, modified, and paused this year continues to weigh on credit conditions for companies, sovereigns, and financial institutions in emerging […]

[ad_1] How to use your bonus: Answers to a few questions will help you... (AI image) Answers to a few questions will help you find the best way to use the surplus cash coming your way soon.1. Does your family have health cover?Don’t rely on the group cover from your employer because it may not provide sufficient coverage.If your answer is No, then…Buy a family floater health plan to cover all family members. A Rs 10 lakh floater plan that covers a husband, wife and two kids will cost about Rs 22,000-30,000 a year depending on the age of the oldest member. Buy from a company with a healthy claim settlement record and a good reputation for customer orientation.If your answer is Yes, then…move to the next question2. Do you have adequate life insurance?Your life insurance cover should be at […]

[ad_1] China’s central bank on Tuesday slashed two major interest rates to a historical low, in efforts to inject fresh momentum into the economy struggling with weak consumer demand, ongoing property crisis, and deepening trade tensions with the United States.The People's Bank of China announced cutting its one-year loan prime rate (LPR), a key reference for household and business lending, trimming it from 3.1% to 3.0%. The five-year LPR, typically used for mortgages, was also lowered by 10 basis points to 3.5%.These are the lowest rates recorded since the LPR was introduced, and mark the first such cuts since October.The move comes days after Beijing and Washington agreed to temporarily ease tariffs in their protracted trade dispute, giving both sides a 90-day window to de-escalate tensions.Zichun Huang, China economist at capital economics, said that the cuts would offer some relief […]