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The Economic Times
The Economic Times These cash transactions may attract up to 100% penalty by Income Tax Department
Penalty on cash transactions: Recently in a brochure the Income Tax Department has said that taxpayers should avoid using cash for their daily transactions as in certain specified cases penalty for an amount equal to the cash can be imposed. Moreover, the income tax department will disallow deductions if cash is used for transacting above a certain limit. Know the details.
The Economic Times Dunzo’s demise: How the Reliance-backed hyperlocal delivery startup unravelled
Dunzo, once a pioneer of hyperlocal delivery in India, faced operational and financial challenges leading to its decline. Founder Kabeer Biswas has joined Flipkart. Despite substantial investments and aggressive strategies, the company struggled with cash flow issues and mounting losses. Dunzo's rapid expansion and marketing expenses contributed to its downfall.
The Economic Times Aim to become no. 1 country in auto segment: Nitin Gadkari
Union minister Nitin Gadkari emphasized the remarkable growth of India's auto sector, which has now become the third largest globally, surpassing Japan. The sector, valued at Rs 22 lakh crore, significantly contributes to job creation and GST revenue. Gadkari aims to make it the world's largest auto industry.
The Economic Times Budget 2025: Tax cuts, sops on Pharma Inc's wish list
Pharmaceutical and hospital sector executives are requesting higher public healthcare spending, R&D incentives, and tax exemptions on life-saving drugs in the upcoming Union budget. They want more oncology drugs to be tax-exempt and lower customs duties on essential medical equipment. Executives also propose incentives for AI research and standardization of GST rates on medical devices.
The Economic Times Visa Chinese checkers on, companies like BYD and Midea forced to enlist Indian players for board game
Chinese companies are approaching the government seeking clearance for their executives or appointing locals on their boards since Chinese nationals are unable to receive visas or the director identification number (DIN), said industry executives.
The Economic Times Only vishwas, no vivad: Just 1% of ITRs face scrutiny
Even the minuscule 1% cases picked for scrutiny are based on credible information available with the department through third-party reporting, they said, pushing back against the criticism of aggressive income assessment notices. The scrutiny happens only in those cases flagged by algorithm-based data analytics, and where the probability of tax additions is very high.
The Economic Times Amid surge in MFI defaults, small borrowers binge on debt
The number of borrowers taking loans from three or more lenders was 11 million, or 13% of the total microfinance borrower base of 85 million, showed the latest data collated by credit bureau CRIF High Mark, and seen by ET. At present, the microfinance sector is reeling under severe asset quality stress. The sectoral gross nonperforming assets ratio rose to an 18-month high of 11.6% at the end of September
The Economic Times The Great Indian Work-Wife Balance
How many hours a week do you work? Do you follow a 5-day workweek or a 6-day workweek? Several top leaders of India Inc are advocating for employees to work 70 to 90 hours a week. It the new business mantra going to be about about all work, no play? Here’s my view.
The Economic Times Union Budget 2025: India Inc CFOs and experts to discuss industry expectations today
Join top experts and leaders of India Inc featuring Niranjani C, Ramani Dathi, Ramesh Bafna, Aniket Talati, and Kunal Kumar Kundu, moderated by Amol Dethe, in a meaningful conversation discussing expectations from Union Budget 2025, Live on January 10 at 3 pm.
The Economic Times Swiggy unboxes professional services app Pyng under house of apps strategy
Chinese tech giants Alibaba and Meituan have had multiple apps under the group for various services. It contrasts with the one ‘superapp’ strategy where consumers come for one basic use-case and transact through multiple services. Superapps have not experienced any significant success in India.
The Economic Times Reserve Bank Innovation Hub, IIMA Ventures launch programme to foster women-centric fintech startups
The programme invites applications from startups developing gender-inclusive financial solutions, specifically those with a proven MVP/Product, in the pre-Seed to pre-Series A funding stage, or already generating revenue or traction.
The Economic Times Ecommerce pushes quick commerce as Amazon tests Tez, Flipkart boosts Minutes
In 2025, ecommerce giants like Amazon and Flipkart are intensifying their efforts in the quick commerce market. Amazon is piloting its Tez service in Bengaluru, while Flipkart's Minutes is expanding rapidly, covering around 150 dark stores and adding high-value items. The entry of these major players highlights robust competition and potential growth opportunities in the quick commerce sector.
The Economic Times Quick commerce driving blue-collar employment; India to see demand for 2.4 mn jobs by 2027
India will need 2.4 million blue-collar workers by 2027 due to the rapid growth of the quick commerce industry, which is driving demand for delivery drivers, warehouse associates, and other roles. The average monthly base salary for these jobs is about Rs 22,600, with opportunities for increased earnings during peak seasons.
The Economic Times Dunzo cofounder Kabeer Biswas joins Flipkart to lead quick commerce biz
Kabeer Biswas is leaving cash-strapped Dunzo, backed by Reliance Retail, after more than a year of grappling with funding issues. Biswas will closely work with Flipkart senior vice-president Hemant Badri for Minutes.
The Economic Times Managing fiscal deficit: Can Budget 2025 balance growth and prudence?
India Budget 2025: With growth lagging and inflation unpredictable, the upcoming FY2026 Union Budget must support fiscal stability while adhering to a sub-4.5% fiscal deficit target. The government should frontload capex, particularly in roads and railways, and implement measures to support MSMEs and employment-linked incentives.
