Business
FBR clarifies changes in 2025 income tax return form – SUCH TV
The Federal Board of Revenue (FBR) has issued a clarification regarding changes made to the income tax return form 2025, just days before the deadline for filing returns.
The deadline for filing income tax returns remains September 30, the FBR said.
However, reports emerged that a new column had been added to the IRIS form, requiring taxpayers to disclose the market value of their assets. This development caused concern among taxpayers, especially as the filing deadline draws near.
In its clarification, the FBR stated that no new SRO has been issued in this regard. The additional column, it said, had been incorporated into the form on August 18.
The stated purpose of the new column is to determine the market value of assets, enabling the collection of authentic data for better policymaking.
The FBR stressed that the requirement to declare the market value of assets has no bearing on tax liability and would not be used to initiate proceedings against any taxpayer.
It stated that the inclusion of the market value of assets on page 66 of the return form had already been mandatory. However, many taxpayers were entering zero in the relevant field, which has now been restricted.
It clarified that declaring the market value of property remains entirely at the discretion of the taxpayer. It added that the purpose of the required details was neither tax calculations nor any notice would be issued for errors in this information.
The revenue authority stated that wealthy individuals were already submitting information regarding their assets under Section 7E, while other taxpayers are only expected to declare values close to actual market prices.
It emphasised that asset values declared will neither be used for tax calculation nor considered in the reconciliation of the wealth statement. Taxpayers who have already filed returns will not be asked to re-file.
Business
Gold price today: How much 18K, 22K and 24K gold costs in Delhi, Mumbai & more – Check rates for your city – The Times of India
Safe-haven buying returned to the bullion market as silver and gold futures rebounded sharply, tracking supportive global cues and a softer US dollar.Gold futures also saw value buying, with the April contract rising Rs 1,397, or 0.89 per cent, to Rs 1,58,200 per 10 grams. In the previous session, the yellow metal had settled lower at Rs 1,56,803 per 10 grams.On the Multi Commodity Exchange (MCX), silver for March delivery surged Rs 9,665, or 3.83 per cent, to Rs 2,62,213 per kg. The white metal had dropped Rs 10,072, or nearly 4 per cent, to settle at Rs 2,52,548 per kg in the previous session.Here is how much gold costs in major Indian cities today:
Gold price in Delhi today
In the national capital, 22K gold is selling at Rs 14,545 per gram, up Rs 55, while 24K gold is quoted at Rs 15,866 per gram, higher by Rs 60. 18K gold stands at Rs 11,904 per gram, up Rs 45.
Gold price in Mumbai today
Mumbai markets show 22K gold at Rs 14,530 per gram, higher by Rs 55, while 24K gold is at Rs 15,851 per gram, up Rs 60. 18K gold is at Rs 11,889 per gram, gaining Rs 45.
Gold price in Chennai today
In Chennai, 22K gold is priced at Rs 14,600 per gram, up Rs 20, while 24K gold is at Rs 15,928 per gram, higher by Rs 22. 18K gold is quoted at Rs 12,540 per gram, up Rs 10.
Gold price in Kolkata today
Kolkata sees 22K gold at Rs 14,475 per gram, while 24K gold is priced at Rs 15,791 per gram. 18K gold is quoted at Rs 11,844 per gram.
Gold price in Ahmedabad today
In Ahmedabad, 22K gold trades at Rs 14,535 per gram, up Rs 55, while 24K gold is at Rs 15,856 per gram, higher by Rs 60. 18K gold is priced at Rs 11,894 per gram, up Rs 45.
Gold price in Hyderabad today
Hyderabad markets quote 22K gold at Rs 14,530 per gram, up Rs 55, while 24K gold is at Rs 15,851 per gram, higher by Rs 60. 18K gold is priced at Rs 11,889 per gram, up Rs 45.
Gold price in Jaipur today
In Jaipur, 22K gold is retailing at Rs 14,545 per gram, up Rs 55, while 24K gold is priced at Rs 15,866 per gram, higher by Rs 60. 18K gold stands at Rs 11,904 per gram, up Rs 45.
Gold price in Lucknow today
Lucknow markets have 22K gold at Rs 14,545 per gram, higher by Rs 55, while 24K gold is at Rs 15,866 per gram, up Rs 60. 18K gold is quoted at Rs 11,904 per gram, up Rs 45.
Gold price in Patna today
In Patna, 22K gold is priced at Rs 14,480 per gram, while 24K gold is at Rs 15,796 per gram. 18K gold is quoted at Rs 11,849 per gram.
Gold price in Bangalore today
Bangalore markets show 22K gold at Rs 14,530 per gram, up Rs 55, while 24K gold is priced at Rs 15,851 per gram, higher by Rs 60. 18K gold is quoted at Rs 11,889 per gram, up Rs 45.Analysts said bullion demand strengthened due to a weak US dollar and renewed geopolitical tensions between the US and Iran, boosting safe-haven appeal.“MCX gold rose nearly 1 per cent, reclaiming levels above Rs 1.58 lakh per 10 grams, while silver outperformed the yellow metal with around a 3 per cent gain, crossing Rs 2.60 lakh per kg,” Gaurav Garg, Research Analyst at Lemonn Markets Desk, said, PTI quoted.He added that investor sentiment improved after softer US economic data increased expectations of rate cuts and pointed to slowing economic momentum.In the global market, Comex silver futures for March delivery rose USD 3.11, or 4 per cent, to USD 83.50 per ounce, while gold for April delivery climbed nearly 1 per cent to USD 5,071.86 per ounce.“Gold and silver prices rose as US Treasury bond yields fell after data showed December retail sales growth stalled, signalling a softening economy ahead of key jobs data,” Manav Modi, Analyst, Commodities at Motilal Oswal Financial Services Ltd, said.The dollar index declined 0.23 per cent to 96.59, offering further support to bullion prices globally.
Business
Tesco boss warns Starmer UK is ‘sleepwalking’ into joblessness epidemic
Tesco’s UK chief, Ashwin Prasad, has warned that the nation is in danger of “sleepwalking into an epidemic” of joblessness, while taking aim at government policies that increase hiring costs for employers.
Mr Prasad said there had been a “clear, gradual change” over the past decade in people falling out of the workforce, saying there are “far fewer people in work than there could be” and calling for significant change from the government in how it tackles the issue.
“We have been sleepwalking into a quiet epidemic that is keeping millions of people out of work,” said Mr Prasad.
“My perspective from leading a major employer in this country is that far fewer people are in work than there could be.
“This means that instead of investing in parts of national life that might stimulate investment and growth into the wider economy, we are spending an ever-increasing proportion of our national income on out-of-work benefits. We cannot afford to be a country that lets the next generation languish on the sideline.”
Tesco employs around 300,000 people and is likely the largest private employer in the country.
His comments come as the UK unemployment rate currently sits at 5.1 per cent – the highest level since the tail end of the pandemic in January 2021.
The Bank of England has forecast that it could rise even higher to hit the same peak as during mid-2020, reaching 5.3 per cent, while a recent survey of economists suggested two-thirds believed unemployment could rise up to 5.5 per cent.
Speaking at a Resolution Foundation event, the Tesco chief said there were multiple reasons why joblessness had increased but pointed to official forecasts which show that Britain will spend over £330bn on welfare this year, which the Office for Budget Responsibility predicts will grow to more than £400bn by 2030-31.
Labour have made a sustained push to get more people back into jobs, including plans for large scale welfare reform and altered rates within Universal Credit.
The UK CEO also suggested Tesco faced an outsized hit when the cost of employment rose – which includes increases in employer national insurance contributions and rising in minimum and living wages requirements – as it has such a large number of staff on its books, noting the firm’s “biggest expenditure is the salaries and the wages” of employees.
He criticised regulation and increasing the costs to firms of bringing jobs to the economy, while hinting that they hampered the ability to hire even more people facing a diverse range of circumstances.
“Each time you add a new cost, money has to come from somewhere. In the past five years, we’ve already seen all sorts of new costs for labour, costs for energy and costs for regulation.
“We [the retail sector] provide some of the most flexible work opportunities in the labour market, supporting people to enter the workforce for the first time or re-enter after they’ve taken time out for either childcare or caring,” Mr Prasad added.
This week, Tesco announced 70 new convenience stores were set to open, including some which have taken over prominent sites formerly used by Amazon Fresh.
Business
Should you buy Hyundai Venue? Check top 8 pros and 5 cons
Hyundai Venue Pros And Cons: The Hyundai Venue has always been seen as “baby Creta”. Now, in its second generation, it feels more grown-up than ever. It looks sharper, it is slightly bigger, and it comes loaded with more features than before. I (Lakshya Rana) spent time driving the new Venue across city roads and highways to see what has changed. On paper, it promises a lot. Multiple engine options, new tech, and even a sportier N Line version for enthusiasts. But no car is perfect. While the Venue does many things right, there are a few areas where it could have done better. Here are its top pros and cons:
Hyundai Venue Pros
1. The new Venue looks completely fresh. The design is bold and futuristic. It definitely grabs attention.
2. Build quality feels solid. The doors shut with a reassuring thud. Fit and finish are impressive, just like you would expect from Hyundai.
3. One of the biggest strengths of the Venue is the wide choice of powertrains. You get petrol, turbo-petrol, and diesel options.
4. Hyundai has also added the missing diesel automatic combination, which many buyers wanted. This gives the Venue an edge, especially for people who drive long distances and prefer the convenience of an automatic.
5. The suspension setup is well-tuned. It handles bad roads comfortably and feels stable around corners. It strikes a nice balance between ride and handling. It does not feel too soft or too stiff.
6. For enthusiasts, there is the N Line version. It adds a sportier character and sharper driving feel.
7. Feature list? It’s long. You get a 360-degree camera, a dual-curved panoramic display, and an 8-speaker Bose sound system. Wireless smartphone connectivity is there. Ventilated front seats are a big plus in our climate. Rear passengers get sunshades, which is a thoughtful touch. Overall, the Venue feels modern and well-equipped.
8. Safety has also been taken seriously. You get six airbags as standard. There is Level 2 ADAS, electronic stability control, hill start assist, tyre pressure monitoring system, and even all-wheel disc brakes on automatic variants.
Hyundai Venue Cons
1. The design, while bold, may not appeal to everyone. It is sharp and edgy. Some people will love it. Others may find it too much.
2. Pricing is another concern. The top variant is expensive. In many cities, the on-road price is close to Rs 19 lakh, which is too much for this segment SUV.
3. Cabin space has improved slightly. But let’s be honest. This is still a four-seater at best. The rear seat is not comfortable for three adults on long journeys.
4. The light-coloured interiors look premium. But they get dirty very easily, which can be frustrating over time.
5. There are also a few missing features. You do not get automatic wipers. Steering reach adjustment and a full-size spare wheel are also absent.
Should you buy Hyundai Venue?
Overall, the Hyundai Venue is feature-rich, well-built and offers a wide range of powertrains. It feels premium and modern. But high pricing and a few practical compromises may make some buyers think twice. It, however, is one of the best options to consider in the segment.
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