Business

CBDT Seeks Stakeholder Input on Income Tax Bill 2025 and Unveils New E-Filing Portal

Published

1 year ago

March 19, 2025

Following the introduction of the Income Tax Bill 2025, the Central Board of Direct Taxes (CBDT) has called for input from stakeholders regarding its provisions. After reviewing the feedback, the Bill will be compiled and forwarded to the Select Committee for further evaluation.

A utility has been launched on the e-filing portal (https://eportal.incometax.gov.in/iec/foservices/#/pre-login/ita-comprehensive-review), available to all stakeholders starting from March 8, 2025.

Stakeholders can provide their feedback by entering their name and mobile number, followed by an OTP for validation.

As part of a broader consultative effort, the committee established to review the Rules and Forms invites stakeholders to contribute suggestions in four key areas: Simplification of Language, Reduction of Litigation, Reduction of Compliance Burden, and Identification of Redundant/Obsolete Rules and Forms.

All recommendations should clearly reference the pertinent provision of the Income-tax Rules, 1962, including the specific section, sub-section, clause, rule, sub-rule, or form number related to these categories, as noted by the Ministry of Finance.

In line with the comprehensive review of the Income-tax Act, 1961, efforts are being made to gather input aimed at simplifying the associated Income Tax Rules and Forms. This initiative seeks to enhance clarity, alleviate compliance burdens, and eliminate outdated rules, thereby making tax processes more accessible for taxpayers and stakeholders.

Additionally, the goal of streamlining the Rules and Forms is to simplify tax compliance, improve taxpayer understanding and ease of filing, reduce administrative burdens and errors, and foster greater transparency and efficiency.

Business

Overseas Loans by Indian Firms See Sharp Decline

Published

1 day ago

May 17, 2026

Namma Kudla

Business : Indian companies borrowed $5.43 billion from abroad in March, according to RBI data. This was 51% lower than March last year.

Experts said the weak rupee and high global interest rates made foreign loans less attractive for companies.

In the financial year 2025-26, India Inc raised nearly $43 billion through foreign borrowings. This was down from $61 billion in the previous year.

In March 2025, borrowings had crossed $11 billion due to large deals by companies like JSW Steel and Tata Semiconductor Manufacturing.

Companies are also avoiding overseas loans because hedging costs have become expensive during currency volatility.

The RBI reportedly discussed easing foreign borrowing rules and offering hedging support, but no final decision was taken.

Market experts said the ongoing West Asia conflict has increased uncertainty, making companies cautious about raising funds from abroad.

Business

Fuel Prices Hiked by Rs.3 per Litre across India

Published

3 days ago

May 15, 2026

Namma Kudla

New Delhi: Petrol and diesel prices have been increased by Rs.3 per litre across the country from today. Oil marketing companies revised the rates due to the rise in global crude oil prices.

After the hike, petrol price in Bengaluru has reached Rs.106.17 per litre, while diesel now costs Rs.94.10 per litre.

The increase comes amid fluctuations in international crude oil prices and tensions in West Asia, including the Iran conflict. The fall in the value of the Indian rupee against the US dollar has also increased import costs.

The fuel price hike is expected to affect transportation and daily essentials. Transport charges for goods may rise, leading to higher prices of vegetables, fruits, milk, and other items. Bus, auto, and taxi fares may also increase.

Earlier, fuel prices were reduced before the 2024 Lok Sabha elections. In 2022, the Centre had also cut excise duty to control inflation after the Covid pandemic.

Business

Gold Prices Rise in Mangaluru; Demand for Ornaments Remains Strong

Published

2 weeks ago

May 4, 2026

Namma Kudla

Mangaluru: Gold prices in the coastal city of Mangaluru have been reported at high levels today. The rate for 24 karat gold (99.9% purity) stands at Rs.14,962 per gram. The price for 22 karat gold (91.6% purity) is Rs.13,715 per gram. Meanwhile, 18 karat gold (75% purity) is being sold at Rs.11,222 per gram.

Mangaluru is well known for its deep cultural connection with gold. The city has a long tradition of buying and wearing gold ornaments. This tradition continues strongly even today.

Local jewellers say that demand for gold remains steady despite high prices. Many people still prefer to invest in gold for safety and long-term value. Gold is also an important part of weddings and festivals in the region.

Apart from its love for seafood, Mangaluru is also famous for its gold market. The gold trade in the city has a long history and continues to grow.

Buyers are advised to check the latest rates before making a purchase. They can also use a gold rate calculator to get exact pricing based on weight and purity.

Experts say that gold prices may change depending on global market trends. Customers should stay updated and make careful decisions while buying gold.