Instant Finance Updates

𝗖𝗣𝗖 𝗕𝗲𝗻𝗴𝗮𝗹𝘂𝗿𝘂 𝗶𝘀 𝗱𝗶𝗿𝗲𝗰𝘁𝗲𝗱 𝗻𝗼𝘁 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 𝗜𝗧𝗥𝘀 𝗼𝗳 𝗳𝗲𝘄 𝘁𝗮𝘅𝗽𝗮𝘆𝗲𝗿𝘀 𝗳𝗼𝗿 𝗙.𝗬.𝟮𝟬𝟮𝟱-𝟮𝟲 - 𝗗𝗲𝗹𝗵𝗶 𝗛𝗖 𝗙𝗮𝗰𝘁𝘀: 1. Few Judges of HC/SC have filed their ITRs under New Tax Regime & claimed exemption for the allowances & Perquisites, which are not allowable u/s 115BAC of the Act. 2. CPC processed the ITRs & generated the demand. 𝗔𝗰𝘁𝗶𝗼𝗻 𝗯𝘆 𝗗𝗲𝗹𝗵𝗶 𝗛𝗖: 1. Delhi HC has stepped in & issued notice to CPC. 2. CPC informed Delhi HC that such allowance & perquisites would not be available because the new regime permits taxation at concessional rates without exemptions and deduction. 3. However, Delhi HC is of the opinion that Judges allowance & Perquisites must not be taxed, 𝗶𝗿𝗿𝗲𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗽𝗿𝗼𝘃𝗶𝘀𝗶𝗼𝗻𝘀 𝘂/𝘀 𝟭𝟭𝟱𝗕𝗔𝗖 𝗼𝗳 𝘁𝗵𝗲 𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗔𝗰𝘁. 4. Delhi HC directed CPC not to process ITRs of Judges of HC/SC. Further, if ITR is processed & any demand is generated, then it will not be recovered. -- 𝗗𝗲𝗹𝗵𝗶 𝗧𝗮𝘅 𝗕𝗮𝗿 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗶𝗼𝗻 𝘃𝘀. 𝗨𝗻𝗶𝗼𝗻 𝗼𝗳 𝗜𝗻𝗱𝗶𝗮 [𝗪.𝗣.(𝗖) 𝗡𝗼. 𝟵𝟯𝟲𝟱 𝗼𝗳 𝟮𝟬𝟮𝟲, 𝗱𝗮𝘁𝗲𝗱 𝟭𝟬.𝟬𝟴.𝟮𝟬𝟮𝟲]

The Karnataka State Govt will hire school assistants at ₹10,000 per month to free up teaching staff from clerical work. (DH)

Generally, most associate the State of Rajasthan, with sprawling deserts, that have been romanticised in numerous movies. Did you know... Rajasthan has the most cultivatable land than any other State in India. (TOI)

Longevity—in India—comes of age. (FE)

For those of you who missed the PM's speech, here's a gist. I was happy to see that everyone has finally got it right - it was our 80th Independence DAY, after 79 YEARS of independence. Till a few years back, I remember seeing some embarrassing mistakes appearing in the media. (FE)

Hiroki Totoki, CEO of Sony—a veteran in the company—has been there since 1987. He's slowly turning it around, making it relevant in the entertainment business once again. (WSJ)

Climate change and war in west Asia has led to shipping companies using alternate routes. You can go from Asia to Europe via the Arctic Circle - it's faster and burns less fuel. (WSJ)

If you thought there were already too many Ads on TV, get ready for more! The Govt removed the cap of 12 minutes of "non-programmatic" content per hour. Which means channels get to show us Ads for more than 12 minutes every hour. (BS)

Probably the world's loudest proponent of Electric Vehicles, Elon Musk, is turning to Natural Gas for his power plants! Looks like he's having a rethink on the usefulness of fossil fuels. (WSJ)

Coming soon... Order online and get a refrigerator delivered to your home in under 2 hours. Q-commerce platforms are planning delivery of appliances. Blinkit already offers 10-minute deliveries of Lloyd air conditioners in Delhi-NCR. (ET)

Travelling overseas and looking for Forex cards with no markup? Here are a few options. (FE)

France's ban on social media for youngsters under 15, has been blocked by its top court saying that it infringes on freedom of expression! (FE)

More than 60% of stones in diamond engagement rings sold in the US, are now Lab Grown Diamonds. (The Times, UK)

Is Social Media your only source of information? Yes? You're in more trouble than you think, because powerful algorithms will serve you what they feel you want. You may think you're choosing, but you're merely at the receiving end. Influencers routinely violate advertising guidelines! (BS)

July data shows the trade deficit at $32 billion. Goods imports were up 17.5% y-o-y. Goods exports were up 19.6% y-o-y. (FE)

Indian IT Cos have drastically reduced fresh applications for H-1B visas for the US - thanks to the surge in fees by the Trump administration. (BS)

There's a US startup that has a battery system which uses iron, air and water in a "reversible rusting" process. It raised $750 million. (WSJ)

Once a Bill has hit the floor of a House in Parliament, how long does it take to "pass"? In the current session, 11 bills were passed in 19 sittings... most, with less than 50 MPs "participating". Making Maggi noodles takes longer, right? (BS)

Today's Business News Headlines from : *Economic Times* 📝 US consumer inflation falls to 3.4% year-on-year in July 📝 TaMo CV Q1 net profit soars 83% on one-time gain 📝 Coal India, AMNS sign pact for synthesis gas utilisation at Paradip plant 📝 TARC Ltd reports Rs 22.64 crore profit after tax for Q1FY27 📝 India’s July inflation quickens to 4.45% from 4.38% in June, stays above RBI target 📝 India's exports rise 15% in April-July; Commerce Minister Piyush Goyal confident of $1 trillion target 📝 Electric mobility startup Yulu raises $93 million in equity, debt to expand EV fleet 📝 Astrotalk announces Esop buyback at $1 billion valuation 📝 Accel raises $550 million for India, keeps early-stage focus as AI reshapes deal flow 📝 Bank of America, Jio Financial ink JV for 49.9% Jio Credit stake *Business Standard* 📝 Exim Bank projects India's merchandise exports to grow 17.6% in Q2FY27 📝 Horizon Industrial Parks' ₹2,600 cr IPO to open Aug 17 at ₹57-60 price band 📝 Embassy REIT set to enter Nifty 500, Nifty Midcap 150 from September 30 📝 Homegrown semiconductor startups raise $206 million since 2022: Report 📝 Temporary hiring likely to rise 15-20% this festive season: Report 📝 AI, entertainment push app revenue to record $345 mn in Q2: Sensor Tower 📝 Zetwerk planning to file IPO papers publicly, eyes raising up to $400 mn 📝 India's top developers bet on ₹1.82 lakh cr sales in FY27 despite headwind 📝 Govt spends ₹292 crore under National Green Hydrogen Mission so far: MNRE 📝 Julius Baer leases 74,037 sq ft office in Mumbai for India GCC operations 📝 MoRTH revises BOT model concession agreement to attract private players 📝 CAG flags ₹401 crore GST lapses in works contracts, findings accepted 📝 Horizon Industrial Parks eyes next growth phase with ₹2,600 crore IPO 📝 Reliance Brands signs pact to launch Fabletics activewear brand in India 📝 Uber expands into 100 more Indian cities, deepens push beyond major metros 📝 NaBFID eyes $3-4 billion via ECBs in FY27, plans 10-year dollar bond issue 📝 Policy support, lower costs to lift e-bus penetration to 30% by FY30: Icra 📝 Taiwan's Foxconn reports 35% rise in Q2 profit on AI demand, beats forecast 📝 Grasim Q1 results: Profit jumps 39% to ₹3,846 cr, operating revenue up 21% 📝 Top 11 developers target ₹1.8 trillion in pre-sales for FY27: Report 📝 Indel Money to raise up to ₹500 crore through public issue of NCDs 📝 India's top 500 listed firms have only 9 women CEOs, 25 MDs: Govt data *Financial Express* 📝 VA Tech Wabag Q1 Profit rises 37%; Order book at Rs 19,400 crore 📝 BimaPay targets ₹2,500 crore premium financing in FY27 📝 Ola Electric gets 5-year ACC PLI window, eyes ₹7,240 crore incentives  📝 Northern Arc to raise Rs 10,000-11,000 crore this year 📝 EID Parry Q1: Net Profit falls 42% on limited growth in sugar, bio-fuel business; shares slip 2%  📝 HAL Q1 profit rises 15%, revenue increases 14% 📝 Blackstone-backed Horizon plans to double warehousing space 📝 Indian Railways steps up safety measures; Kavach 4.0 approved for 660 route km, 19,700 km fencing done 📝 Apollo Hospitals Q1 net rises 34% to ₹581 crore  *Mint* 📝 Aditya Birla Group’s Pilani Investment to sell ₹1,909 crore UltraTech stake https://whatsapp.com/channel/0029VaK9Pdx7oQhe24NT923E 📝 Mobile bills set to rise as Airtel scraps ₹299 entry-level plan 📝 Nvidia, Apple, Google fuel record $185 billion gain for Norway’s wealth fund 📝 Blackstone-backed Horizon bets on India’s warehouse boom with ₹2,600 crore IPO https://whatsapp.com/channel/0029VaK9Pdx7oQhe24NT923E 📝 IMD predicts widespread rain across northwest and central India in coming days 📝 Govt weighs health insurance reforms to tackle rising medical costs.

Provisional figures for CPI inflation in July has been put at 4.45%. That's the 2nd month in a row that it would be above the RBI's benchmark target of 4%. (BS)