Woman claims Rs 14.70 lakh Section 54F tax exemption for flat; taxman denies saying she has many properties, but ITAT gives relief as one was company-owned and another jointly owned with husband

The assessment proceedings referred to three properties in Nagpur. (Image for representative purpose only) You own a house and claim exemption under Section 54F of the Income Tax Act. However, the exemption is denied because the Income Tax Department believes you own more than one property.In one such case, the dispute arose because the income…

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Classrooms to customers: What student founders need

A postgraduate timetable runs from noon to 8 pm, fitting study blocks around time for building businesses (Generative image) BENGALURU: Classrooms have been carved out of office space inside a WeWork building on Bannerghatta Road in Bengaluru. A postgraduate timetable runs from noon to 8 pm, fitting study blocks around time for building businesses. Shrey…

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Elon Musk says SpaceX-Tesla merger is a ‘good idea’, special committees formed for talks

“We are in an inflection moment for SpaceX across launch, connectivity and superintelligence,” Musk said. Elon Musk’s business empire could be heading towards a major consolidation, with SpaceX and Tesla setting up special committees to discuss a possible merger. Musk confirmed the talks on Tuesday, saying he viewed combining the two companies favourably, although any…

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GCCs emerging top career choice for tech talent: Survey

The gap is also visible in employees’ current workplaces. (Generative image) BENGALURU: Indian technology professionals are increasingly looking for employers that offer hands-on artificial intelligence (AI) experience and clearly defined career paths, while multinational global capability centres (GCCs) are emerging as the preferred next career move for many, according to a Talent500 survey. Talent500 is…

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Indian Railways cracks down on food quality issues after passenger complaints; IRCTC partners with QCI for surprise audits on trains and stations with digital evidence to speed up action

Officials said the decision to introduce independent inspections followed repeated passenger complaints. (Image for representative purpose only) The food quality on trains may see an improvement with the Quality Council of India (QCI) looking to appoint certified professionals to carry out independent, technology-enabled checks of food safety and hygiene at railway stations and aboard trains…

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Wall Street climbs as healthcare stocks hit record, oil prices ease; Dow Jones up 0.97%, S&P gains 0.42%

Healthcare stocks were among the biggest gainers Wall Street’s main indexes traded higher on Tuesday, with healthcare stocks reaching a record high and easing oil prices supporting sentiment as investors assessed corporate earnings and lingering concerns over artificial intelligence spending.The Dow Jones Industrial Average rose 0.97% to 52,468.06, while the S&P 500 gained 0.42% to…

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Tata Trusts row: Noel’s voting rights, son Neville’s appointment under scrutiny amid boardroom tussle

Sir Dorabji Tata Trust files response to commissioner MUMBAI: Sir Dorabji Tata Trust (SDTT) on Monday filed its response with Maharashtra Charity Commissioner (MCC) to complaints lodged by trustees Venu Srinivasan and Vijay Singh, meeting the extended October 19 deadline for its submission.The complaints sought an inquiry into SDTT’s administration and governance, including the appointments…

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Harish Bhat resigns from Trent board after 12 years

In his resignation letter to Noel, Bhat described his tenure on Trent’s board as a “pleasure and privilege” MUMBAI: Harish Bhat, a long-serving Tata executive, has resigned from Trent, the retailer chaired by Noel Tata, citing growing personal and professional commitments.Bhat, 63, served on Trent’s board for 12 years. An alumnus of BITS Pilani and…

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