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The Latest Breaking News from The Economic Times

Do taxpayers need to file two ITRs for FY 25-26 income? I-T Department explains

AY 26-27 and TY 26-27: Confusion surrounding the new Income Tax Act, 2025, and its transition from Assessment Year (AY) to Tax Year (TY) is clarified by the Income Tax Department. Taxpayers will not need to file two returns for income earned between April 1, 2025, and March 31, 2026.

The Economic Times

8th Pay Commission HRA changes: 5 employee bodies recommend house rent allowance up to 40%; check details

8th pay commission proposals: Central government employees are urging the 8th Pay Commission to significantly hike House Rent Allowance (HRA) rates, citing soaring urban rents. Employee bodies are proposing increases to 36%, 40%, and even higher for different city categories, with some suggesting HRA be linked to Dearness Allowance (DA)…

The Economic Times

From coffee to booze: Rafael Oliveira, the new boss of Heineken

Heineken has appointed Rafael Oliveira as its new CEO, marking the first external hire for the top role. Oliveira, previously CEO of JDE Peet's, brings extensive international leadership experience from companies like Goldman Sachs and Kraft Heinz. His appointment follows a lengthy search and comes as he faces the challenge…

The Economic Times

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UPI, Aadhaar banking drive 61% of MSME transactions; AI adoption rises: Report

A significant majority of retailers now feel more confident using digital platforms for daily operations, leading to increased digital payment usage. AI is also gaining attention, with many retailers already employing it to enhance their businesses, signaling a strong move towards regular digital adoption.

The Economic Times

Global Market | European shares slip on Fed hike bets, tech drag

European markets opened lower Tuesday, impacted by anticipated US Federal Reserve rate hikes and concerns over escalating corporate AI investments. The STOXX 600 index saw a notable dip, with basic resources and tech sectors leading the decline. Asian equities also experienced significant drops. Investors are bracing for further interest rate…

The Economic Times

GST wins India Inc's vote, but businesses seek faster refunds and smarter reforms: Deloitte

India's GST regime has achieved widespread acceptance, with digitisation and rate adjustments hailed as major successes. Businesses now prioritize clearer interpretations, uniform audits, and faster refunds to ease working capital. The corporate sector is eager for AI-powered compliance tools and a unified taxpayer dashboard, signaling a push for more advanced,…

The Economic Times

Workday must face California lawsuit over AI bias in job screening tools

US District Judge Rita Lin in San Francisco rejected California-based Workday's claim that the state's anti-discrimination laws do not apply when it ‌screens people based ⁠outside ⁠California who are applying for jobs in other states and countries.

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Ayodhya Ram temple donation case: SIT submits initial findings to UP government

A Special Investigation Team probing alleged embezzlement of Ram temple donations in Ayodhya has submitted its preliminary report to the Uttar Pradesh government. The SIT, formed after allegations of misappropriation, is still gathering facts and aims to present a final report within two weeks. Divisional Commissioner Vijay Vishwas Pant confirmed…

The Economic Times

Zubeen Garg death: SC seeks Assam govt's response on bail plea of accused

The Supreme Court has requested a response from the Assam government regarding a bail plea filed by Shyamkanu Mahanta, an accused in the Zubeen Garg death case. Mahanta's appeal challenges the Gauhati High Court's decision to deny him bail. The celebrated singer's death occurred in Singapore last year under mysterious…

The Economic Times

Slowing rural incomes could weigh on consumer demand: Dhananjay Sinha

Headline rural wage growth in India is misleading, with underlying increases significantly lower than reported. Rising inflation, reverse migration from cities, and an uncertain monsoon threaten to dampen rural demand. Consumer companies may face squeezed purchasing power as prices climb and real wages stagnate, potentially impacting their profitability and volume…

The Economic Times

MrBeast, world’s richest YouTuber, ranks tip to a pizza man as the best moment of his life, 'better than giving someone million dollars'

World's richest YouTuber, MrBeast, revealed a pizza tip moment was the best moment of his life that deeply moved him. Initially, he said the delivery driver's reaction seemed muted, but the next day, the driver returned, overcome with emotion, explaining the money allowed him to take a day off work…

The Economic Times

Why is market falling today? Weak global cues among 5 key triggers behind Rs 6 lakh crore D-St rout

Indian stock markets experienced a significant downturn on Tuesday, with the Sensex and Nifty shedding substantial investor wealth. This decline was fueled by a sharp sell-off in South Korea's Kospi index, renewed fears of US Federal Reserve rate hikes due to rising oil prices, and a resumption of selling pressure…

The Economic Times

Defence valuations 'obnoxious'; private banks look strong: Sandip Sabharwal's full market playbook

Investor Sandip Sabharwal cautions that while the defence rally is real, many stock prices have outpaced reality. He favors Bharat Electronics but finds many small-cap defence stocks "obnoxious." Pharma offers decent but unexciting prospects. Sabharwal is constructive on private banks, anticipating accelerated growth. IT valuations are attractive but lack clear…

The Economic Times

In South Korea, a job or partner at Samsung, SK Hynix is the new 'A+' catch

South Korean matchmaking firms say people working at the firms are now being ranked alongside doctors, lawyers and people from other traditionally elite professions as hefty bonuses linked to the global AI boom create a new class of affluent employees.

The Economic Times

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Akasa Air eyes 30% capacity growth in FY27

Akasa Air is set for a significant 30% capacity expansion this financial year, with ambitious long-term plans remaining steadfast despite geopolitical uncertainties. The airline, operating 39 Boeing 737 MAX aircraft, currently dedicates about a quarter of its capacity to international routes. With a focus on strong capitalization, Akasa Air is…

The Economic Times

Kotak Mahindra Bank has 'high ambitions' to deploy capital for growth, CEO says

Kotak Mahindra Bank is actively pursuing acquisitions, including loan portfolios and alternative assets, to deploy surplus capital and fuel growth. CEO Ashok Vaswani aims for the bank to become India's third-largest private lender by profit. The bank is also investing heavily in technology and AI to enhance efficiency, expecting workforce…

The Economic Times

Consistent performers: 6 equity mutual funds deliver over 20% CAGR in 3- and 5-year horizons

Six equity mutual funds have delivered over 20% CAGR in both three- and five-year horizons, an ETMutualFunds analysis showed. The list includes mid cap and small cap schemes from HDFC, Nippon India, Quant, Bandhan and Invesco, highlighting consistent long-term performance across categories despite market volatility.

The Economic Times

IBM partners with OpenAI on enterprise security AI

IBM joined the OpenAI Daybreak Cyber Partner Program and is collaborating with the startup to integrate protective AI tools directly into business operations, helping companies identify and minimize their security risks.

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The Economic Times

How Brexit broke British politics

A decade after the UK voted to leave the EU, the nation grapples with fractured politics and a sluggish economy. Brexit's promises of control have yielded complex realities, leading to frequent leadership changes and deep divisions. While the immediate headlines have faded, the 'subterranean trace of Brexit' continues to shape…

The Economic Times

Rejected on Indian Idol, now a voice for A.R. Rahman: Meet Deepali Sahay, the singer behind ‘Tere Paas Main’ from Imtiaz Ali’s ‘Main Vaapas Aaunga’

Nineteen years after her Indian Idol journey, Deepali Sahay's voice now resonates with millions, fulfilling a judge's prophecy. Despite not winning the competition, her unwavering passion led her to explore acting and direction, eventually becoming a household name in Bihar. However, her true calling remained singing, where she revitalized Bhojpuri…

The Economic Times

Chinese tech, investments welcome, but trade opening needs caution: CII President

Chinese investments and technology are welcome in India, but a cautious approach is needed for trade, according to CII President R Mukundan. He emphasized reducing import dependence on China and boosting domestic manufacturing. Mukundan also highlighted potential collaborations in battery storage and semiconductor chemicals. Regarding the US, he stressed the…

The Economic Times

Japan's Nikkei slides to one-week low as profit-taking hits tech stocks

Japan's Nikkei index tumbled to a one-week low after a streak of all-time high gains, as investors decided to cash in on profits. The pullback was broad-based, primarily driven by declining AI and semiconductor stocks that had previously led the surge. Analysts warn the market was overheating, hinting at an…

The Economic Times

LiLLBUD raises Rs 6 crore seed round led by Zeropearl VC

Addressing a critical gap for safe, science-backed developmental toys in India, LiLLBUD prioritizes BIS certification to combat the prevalence of uncertified, potentially harmful products.

The Economic Times

Delhi High Court reaffirms AITA General Body's authority in constitutional amendments

The Delhi High Court has asserted the All India Tennis Association's General Body's ultimate authority in amending its constitution. Proposed changes will now undergo clause-by-clause deliberation and voting by members. This interim order, while modifying a previous ruling, upholds the democratic process for constitutional reforms and upcoming elections, ensuring AITA's…

The Economic Times

Piyush Goyal, US Trade Representative Jamieson Greer begin talks on trade pact

India and the US are in high-level talks to finalize the first phase of their bilateral trade agreement. Commerce Minister Piyush Goyal met with US Trade Representative Jamieson Greer to iron out details, aiming to give a final touch to the framework deal. Both nations are working to close open…

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