Elon Musk is being sued by the U.S. Securities and Exchange Commission (SEC) for allegedly violating securities laws related to his purchase of Twitter shares in 2022. The SEC claims Musk waited 11 days beyond the required 10-day window to disclose that he had acquired more than 5% of Twitter’s common shares. According to SEC regulations, investors must inform the public of their significant stake

Shares of prominent gaming companies, including Delta Corp. and OnMobile Global Ltd., surged on Friday after the Supreme Court of India granted a stay on the proceedings regarding show cause notices (SCNs) issued by the tax department. These notices were linked to the proposed imposition of a 28% Goods and Services Tax (GST) on online gaming companies, which had caused significant concern within the industry. Abhishek A Rastogi, the founder of Rastogi Chambers, representing the gaming compani

For many young people, managing bills and budgets can leave very little room for savings, but even small investments in tax-free schemes can significantly contribute to building a secure financial future. These investments act as a foundation for a solid tax strategy, offering benefits under the old tax regime with annual investment limits. Section 80C Under Section 80C of the Income Tax Act, you can invest in options like the Public Provident

The UK government is taking decisive action to protect women and girls from the harm caused by sexually explicit deepfakes. In a new proposal, individuals who create or share these images could face criminal charges. This initiative aims to close existing legal gaps by criminalizing the taking and sharing of intimate images without consent. Under the new law, perpetrators could face up to two years in prison. Currently, sharing or threatening to share intimate images, including deep

The United States will soon allow highly skilled professionals, especially Indians working in specialized fields, to renew their H-1B visas without leaving the country. This change follows a successful pilot program launched a year ago, which involved approximately 20,000 participants. The new process, aimed at making visa renewals quicker and more convenient, eliminates the need for applicants to travel back to their home countries for a visa stamp. This has been a long-awaited relief for ma

On Monday, Chief Justice of India (CJI) Sanjiv Khanna recused himself from hearing two significant pleas regarding the finalisation of the constitutions for the Indian Olympic Association (IOA) and the All India Football Federation (AIFF). These constitutions were drafted by former Supreme Court judge Justice L. Nageswara Rao. CJI Khanna informed the bench, which included Justice Sanjay Kumar, that he would not participate in the proceedings because of his prior involvement with the case in t

Rohit Sharma’s future in Test cricket has come under scrutiny after the Indian opener was left out of the fifth Test against Australia in Sydney. Officially, Rohit "opted to rest" from the game, but this decision has raised questions about his long-term role in the format. Sunil Gavaskar, one of India's cricketing legends, speculated that this might signal the end of Rohit's Test career, suggesting that the selection committee may look to younger players who can lead t

As the US tourism industry struggles to return to pre-pandemic levels, the hospitality sector has found hope in the rising number of Indian visitors. In 2024, nearly 1.9 million Indians traveled to the US, marking a 48% increase from 2019, driven by a rise in business and leisure visas. This influx is supporting the recovery of US tourism, with hotels and travel companies adjusting their offerings to cater to Indian tastes, such as providing chai and samosas in hotel lobbies and airing popula

A South Korean court has approved an arrest warrant for President Yoon Suk Yeol, marking a historic first in the country. The Seoul Western District Court granted the warrant after an investigation into Yoon’s decision to impose martial law on December 3. The Corruption Investigation Office for High-ranking Officials confirmed the court's approval, making this the first time an arrest warrant

India has initiated anti-dumping investigations into two Chinese products—nylon filament yarn and trimethyl dihydroquinoline (TDQ). The investigations were triggered by petitions from domestic companies, such as Century Enka Ltd., Gujarat Polyfilms Ltd., and Oriilon India Ltd., for nylon filament yarn, and NOCIL Ltd. for TDQ. The Directorate General of Trade Remedies (DGTR) is looking into whether these cheap imports from China and Vietnam have caused material harm to local industries.

In 2025, the Indian pharmaceutical industry is set for a profound transformation driven by innovation, research excellence, and expanded global access. With the industry projected to reach USD 130 billion by 2030, India aims to become a global hub for high-quality, affordable pharmaceuticals, focusing on areas like CAR-T cell therapy, mRNA vaccines, and biosimilars. Technological advancements like AI, machine learning, and precision medicine are expected to revolutionize drug discovery, manuf

Between April and November 2024, the Indian government dispersed Rs 3.08 lakh crore in income tax refunds, reflecting a significant 46% increase compared to the same period last year. As of November 22, about 98.35% of Income Tax Returns (ITRs) filed have been e-verified, with a record-breaking 69.93 lakh ITRs submitted on a single day, July 31. The total number of ITRs filed by November 22 stands at 8.50 crore, a 7.32% increase from the previous year. The introduction of innovation

Manu Bhaker, the double Olympic medallist shooter, recently made headlines after reports revealed her name was missing from the list of athletes nominated for the prestigious Major Dhyan Chand Khel Ratna Award. Bhaker, the first Indian athlete to win two Olympic medals in a single edition of the Games, expressed surprise over the omission, but clarified that it could be due to a lapse on her part while filing the nomination. She emphasized that awards motivate her but are not her ultimate goa

The Indian rupee weakened by 10 paise to a record low of 85.12 against the US dollar on Monday, marking a significant decline in its value. The domestic currency opened at 84.85, according to Bloomberg data, and had closed at 85.02 on Friday. This continued depreciation comes amid rising global pressures, including an increase in Brent crude prices, which rose 0.41% to $73.24 per barrel. The rise in crude prices was partly driven by easing concerns about a potential US government shutdown and

The year 2024 has been a remarkable one for Indian sports, with several athletes bringing laurels to the country, including India's T20 World Cup win and Manu Bhaker's double medal victory at the Paris Olympics. The Indian government has revealed the nominees for the prestigious Major Dhyan Chand Khel Ratna Award, India's highest sporting honor. Among the nominees are Harmanpreet Singh, captain of the Indian men's hockey team, who led the team to a bronze medal at th

Union Finance Minister Nirmala Sitharaman will chair the 55th GST Council meeting in Jaisalmer, Rajasthan, on Saturday, December 21. This meeting will focus on several important discussions related to the Goods and Services Tax (GST) in India. The agenda includes deliberations on taxability issues concerning food delivery platforms such as Swiggy and Zomato, and potential changes to GST rates on products like health insurance premiums, life insurance, wristwatches, shoes, and apparel. The cou

Raghuram Rajan, former Governor of the Reserve Bank of India (RBI), has linked corruption under the UPA government as the primary cause of non-performing assets (NPAs) in Indian banks. In a recent interview, Rajan explained that following the global financial crisis, several projects began facing severe delays due to corruption scandals, land acquisition issues, and other regulatory obstacles. These factors, he argued, significantly contributed to the rise of NPAs. Rajan praised the

India introduced the Goods and Services Tax (GST) in 2017 to simplify the tax structure and reduce the tax burden. Recent data shows that the gross GST collection for October 2024 rose by 9% to ₹1.87 lakh crore, a record second-highest figure. However, a recent proposal by the Group of Ministers (GoM) on GST Rates Rationalisation suggests a new 35% GST slab on products like aerated drinks and tobacco, which has raised concerns. The proposal aims to target 'sin' products such as thos

Bangladesh's interim government has accused Adani Power of breaching a multi-billion-dollar agreement related to the supply of electricity from its coal-fired plant in India. The dispute centers on Adani Power withholding tax benefits that the power plant was entitled to under the agreement. The Indian company signed a deal with Bangladesh in 2017 to supply power from the Godda plant, but Dhaka claims that Adani Power failed to pass on the tax exemptions it received from the Indian govern

A significant drug and arms seizure took place in Kupwara district, Jammu and Kashmir, as a result of a joint operation conducted by the Indian Army and local police. The operation, based on specific intelligence inputs, was carried out in the Chinotra area of the Tangdhar sector near the Line of Control (LoC). The search led to the recovery of approximately four kilograms of narcotics, including heroin-like substances, along with four pistols, six magazines, and other ‘war-like stores.