Business
Stephen Miran: Senate confirms Trump pick to Fed board ahead of key interest rate vote
The US Senate has cleared President Donald Trump’s pick Stephen Miran to join the Federal Reserve’s board of governors – part of a panel responsible for setting the country’s interest rates.
Miran, who is chair of the Council of Economic Advisers, will be the first sitting White House official to join the Fed’s board since its creation in its current form in the 1930s.
He was narrowly confirmed on Monday with a vote of 48-47.
The economist’s entry has raised concerns over the central bank’s longstanding independence and follows Trump’s bid to reshape the Federal Reserve.
Miran is expected to take part in a key Fed policy meeting this week as one of 12 voting members, playing a central role in Trump’s bid for a large interest rate cut.
The Fed is expected to approve a quarter-percentage point rate cut to support a weakening labour market.
Miran is a supporter of Trump’s global tariffs, arguing the import duties won’t fuel inflation and that policies like stricter immigration will reduce housing demand and lower prices.
The White House economist’s fast-tracked confirmation vote has proceeded in just a few weeks, when it typically takes months for a Fed governor nominee to be confirmed by the Senate.
Senator Elizabeth Warren, a Democrat, raised concerns that Miran would be seen as a “puppet” who would not be trusted as an independent voice on the Fed board.
Trump has put pressure on the Fed for months, demanding interest rate cuts to give the US economy a boost and make it cheaper for the government to borrow.
The president has taken aim at Fed chair Jerome Powell, calling him a “numbskull” and “too late”.
Miran’s vote also comes as Trump is also attempting to fire Fed Governor Lisa Cook from the central bank, citing allegations of mortgage fraud and constitutional powers to remove her.
Cook, the first black woman to serve as a Fed governor, has denied the allegations and sued to block her removal.
She has voted in recent months to keep interest rates on hold this year.
On Monday, a US appeals court denied the justice department’s request to lift an earlier ruling to temporarily block Trump from removing Cook.
The Trump administration is also pursuing mortgage fraud investigations against Senator Adam Schiff and New York Attorney General Letitia James, both political antagonists of the president.
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ITR Filing Due Date Extended: The CBDT decides to further extend the due date for filing these ITRs for AY 2025-26 from September 15, 2025, to September 16, 2025.
ITR Filing Deadline 2025 Extended Till September 16.
ITR Filing Deadline Extended: The income tax department on Monday extended by one day the deadline for filing the income tax return (ITR) for AY 2025-26, till September 16. Earlier, the ITR filing last date was September 15.
“The due date for filing of income tax returns (ITRs) for AY 2025-26, originally due on July 31, 2025, was extended to September 15, 2025. The CBDT has decided to further extend the due date for filing these ITRs for AY 2025-26 from September 15, 2025, to September 16, 2025,” the Central Board of Direct Taxes (CBDT) said in a late-night circular.
“To enable changes in the utilities, the e-filing portal will remain in maintenance mode from 12:00 am to 02:30 am on 16th September 2025,” , according to the CBDT statement issued at 11.48 pm on September 15.
The extension in the ITR deadline came after chartered accountants and individuals took to social media to complain of glitches on the e-filing portal.
A record over 7.3 crore income tax returns (ITRs) have been filed till September 15, surpassing last year’s 7.28 crore, said the income tax department.
Who Must File ITR By September 16?
The new September 16 deadline is for non-audit taxpayers, including most salaried individuals, pensioners, NRIs, and those whose accounts do not require audit. For audit ITRs, the deadline remains October 31.
Usually, the ITR filing deadline every year is July 31. However, this year, the last date for filing non-audit returns was pushed to September 15 from the usual July 31 deadline, owing to delays in the release of updated ITR forms. The extension came after several tweaks were required following the interim Budget’s changes to the capital gains tax framework.
What Happens If You Miss Today’s Deadline?
Taxpayers filing after September 16 face a penalty of Rs 5,000 under Section 234F, though the fine is capped at Rs 1,000 for those with income below Rs 5 lakh. Late filers also lose the ability to carry forward certain losses, risk refund delays and may attract closer scrutiny from the tax department.
With the clock ticking, the department is urging taxpayers to file early to avoid last-minute issues. Whether the deadline is extended once again remains to be seen.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
September 16, 2025, 00:02 IST
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Business
ITR filing FY 2024-25 due date extended by a day! Income Tax Department announces new deadline for tax return filing; check details – The Times of India
ITR filing FY 2024-25 due date extension: In a big relief for taxpayers, the Income Tax Department has extended the due date or deadline for filing Income Tax Returns (ITR) for AY 2025-26 by a day. The original deadline of July 31, 2025 had previously been extended to September 15, 2025. This has now been extended again to September 16, 2025, the Income Tax Department said. The extension in due date for filing ITR comes on the back of several taxpayers complaining of glitches on the income tax e-filing portal website incometax.gov.in.
ITR filing FY 2024-25 due date extension: What did the I-T Department say?
The Income Tax Department announced the new ITR filing due date for FY 2024-25 (AY 2025-26) just minutes before the original deadline, extending it to September 16, 2025.In a post on X (formerly Twitter), the Income Tax Department said, “KIND ATTENTION TAXPAYERS! The due date for filing of Income Tax Returns (ITRs) for AY 2025-26, originally due on 31st July 2025, was extended to 15th September 2025. The Central Board of Direct Taxes has decided to further extend the due date for filing these ITRs for AY 2025-26 from 15th September, 2025 to 16th September, 2025.”“To enable changes in the utilities, the e- filing portal will remain in maintenance mode from 12:00 AMto 02:30AM on 16th September 2025.” it added.
ITR filing FY 2024-25: Taxpayers complain of e-filing portal glitches
The Income Tax Department reported that over 7 crore I-T returns were submitted by Monday evening as the filing deadline approached, while users reported technical issues with the I-T department’s e-filing portal and advance tax payment system.The e-filing platform experienced heavy traffic on Monday, the final day for submitting ITRs for AY 2025-26. Additionally, Monday marked the deadline for paying the second quarterly installment of advance tax for the current fiscal year.Also Read | Income tax filing: Facing trouble accessing the e-filing portal? Here’s what the IT department saysLater on Monday evening, the income tax department provided guidance for ITR filers experiencing browser issues. The department indicated these procedures typically address most local access issues.“Having difficulty accessing the Income Tax e-Filing Portal? Sometimes, access difficulties with the Income Tax e-Filing Portal may arise due to local system/browser settings. These simple steps often help resolve such issues,” stated their post on X.Despite following these instructions, ITR filers continued to encounter technical difficulties.Responding to complaints about ITR uploads and tax payments, the department stated the portal was operational, suggesting users clear browser cache or try alternative browsers. They requested affected users to email details to orm@cpc.incometax.gov.in.
Mr. S. M. Tanveer, FPCCI leader, has expressed deep disappointed over the State Bank of Pakistan’s decision to maintain the current policy rate, saying that the SBP has failrd to address the pressing needs of our economy.
According to him, with inflation under control and the Consumer Price Index (CPI) at a notable low, the persistence of high interest rates is stifling economic growth and exacerbating the challenges faced by businesses and consumers alike. The high policy rate is deterring investment, hindering job creation, and placing an undue burden on the industrial sector, which is crucial for our economic development, he stressed.
In my view, said Mr. Tanveer, no economic uplift is possible without a significant reduction in the policy rate to 6 percent. This move would not only stimulate economic activity but also make borrowing more accessible for businesses, thereby fostering growth and development. Furthermore, he said, it is imperative to bring electricity tariffs to a regionally competitive level of 9 cents per kWh. This adjustment is essential for reducing the cost of doing business, enhancing our export competitiveness, and ultimately driving economic prosperity.
It may be noted that the SBP policy rate is currently 11.00%. The SBP’s Monetary Policy Committee (MPC) has held the rate unchanged at this level since May 2025, most recently on September 15, 2025. This decision was made despite expectations for a cut, reflecting caution due to rising floods potentially spiking food prices and renewing pressure on the currency.
Patron-in-Chief UBG has urged the government to revisit the policy rate without delay. He said the current economic environment demands a more accommodative monetary policy to revive the economy and support the business community. Delaying this crucial decision will only prolong the economic stagnation and hinder Pakistan’s progress, he said, adding that it is imperative for the government to take immediate action to ensure a conducive environment for economic growth and development.
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