Salaried folks paying rent to their folks and getting the HRA benefit are going to have a tough time proving their claims to the Income Tax Department in the upcoming assessments. The new disclosure norms that are coming in have a huge possibility of bringing these claims back to the taxman. It’s common knowledge that…
Asian nations, facing an energy crunch due to Middle East conflict and Strait of Hormuz disruptions, are increasingly turning to Russian oil. Benefiting from US sanction waivers, countries like the Philippines and South Korea are receiving Russian crude and naphtha. This shift offers a vital alternative for energy-starved economies, with more nations potentially following suit…
Uttar Pradesh government has approved a significant interim hike of approximately 21% in minimum wages for workers in Gautam Buddh Nagar and Ghaziabad, effective April 1. This decision follows widespread factory worker protests. New monthly wages for unskilled, semi-skilled, and skilled workers in these regions have been revised, with the CM urging employers to ensure…
Accessing cooking fuel just got simpler for migrant workers, students, and daily wage earners. The government now allows 5-kg Free Trade LPG cylinders to be sold without address proof, requiring only a valid ID. This move aims to make energy more accessible, removing bureaucratic hurdles for vulnerable sections.
A fragile ceasefire has eased immediate escalation risks in the Strait of Hormuz, but shipping remains constrained and conditional. While limited vessel movement has resumed, it’s far from normal, with security considerations dictating transit and global energy markets remaining sensitive to any disruptions.
Pakistan may resort to fuel rationing at petrol pumps if the US-Iran conflict escalates, finance minister Muhammad Aurangzeb warned. While currently managing demand through price adjustments and targeted subsidies, the government acknowledges this approach’s limits. Disruptions to oil flows via the Strait of Hormuz, crucial for Pakistan’s imports, have already caused significant price hikes and…
Exporters and end consumers are not permitted to file claims directly, although some companies, such as FedEx, may opt to pass on the refunded amounts at their discretion.
Axis Bank’s Q4 FY26 net profit dipped slightly to Rs 7,071 crore, impacted by higher provisioning and lower trading gains. Despite this, core interest income saw steady growth, fueled by a significant 19% rise in net advances, particularly in corporate and SME segments. The bank also reported improved asset quality and strong capital adequacy ratios.
Central government employees will see a 2% Dearness Allowance increase, approved by the Cabinet. This comes as employee bodies push for significant pay structure reforms under the proposed 8th Pay Commission, seeking a higher fitment factor and expanded family definitions for pay calculations.