Net income tax collection till June 15 grew at a healthy 26.2% to Rs 1,01,024 crore from across the country as of June 15 from Rs 80,075 crore in the year ago period.

Among the metros, the Mumbai zone registered the highest revenue collection growth during the period with a growth of a whopping 138% at Rs 22,884 crore from Rs 9,614 crore a year ago, sources at the income tax department here told PTI today. The Mumbai zone contributes over one-third of nationwide direct tax collections.

In a reprieve to Hindustan Unilever (HUL), the manufacturer of Kwality Walls ice-cream and frozen desserts, the Bombay High Court on Saturday restrained Amul from airing an icecream commercial.

Justice S J Kathwalla allowed application filed by HUL seeking injunction against the advertisement of Amul which claimed HUL ice-creams were frozen desserts made out of vegetable oil and hence not safe to consume.

The H-1B visa programme is unlikely to be a thorny issue in the maiden meeting between US President Donald Trump and Prime Minister Narendra Modi and the talks could yield a "win-win formula" for both the sides, a top American business advocacy group today said.

"I believe the visit will yield a win-win formula for both countries. I am very optimistic that it will go very well when Prime Minister comes here," Mukesh Aghi, president of US India Business Council (USIBC) told PTI.

While being cautious about lending to Indian companies, State Bank of India (SBI) is looking to increase corporate lending in Europe.

SBI, Frankfurt, which has a status of an independent bank in Europe, has traditionally seen nearly 50 per cent of its lending as trade financing, helping Indian business houses expand in Europe and European business firms in India.

We’ve got an Equity Shot for you, an irregular extra hit from the Equity podcast crew.

Today the big news is the potential Amazon-Whole Foods deal, which has led to rampant media speculation, depressed grocery stocks around the nation and allegations of intelligent corporate strategy.

The Bharat Petroleum Corporation Limited (BPCL) on Saturday terminated the license of Bihar Health Minister Tej Pratap Yadav's petrol pump after he failed to furnish a satisfactory explanation to the notice issued over the allocation of the property in the state.

The BPCL declined to further comment on the issue.

On May 31, the BPCL issued notice to Tej Pratap seeking an explanation on the petrol pump license.

India's largest telecom company Bharti Airtel on Friday accused newcomer Reliance Jio of predatory pricing and demanded that operators be paid more for calls terminating on their networks as also the right to retain customers through incentives.

United against rival Jio, the three incumbent operators -- Airtel, Vodafone and Idea Cellular who met the inter- ministerial group (IMG) individually -- said the current call connect charges or IUC of 14 paise/minute is below cost and needs to be corrected.

The country's second-largest software services firm, Infosys, on Friday announced the appointment of former Wipro executive Inderpreet Sawhney as its group general counsel.

The appointment is effective July 3, 2017, Infosys said in a statement.

Prior to Wipro, she has served as managing partner of a mid-sized law firm in Silicon Valley and has also worked with ITC Ltd as the in-house counsel.

Markets regulator Sebi today disposed of a case against Indiabulls Mutual Fund in a matter related to alleged procedural lapses in declaration and distribution of dividend.

It was alleged that Indiabulls MF did not comply with dividend declaration and distribution procedure. It allegedly did not seek trustee approval and addendum was not published for declaring the dividend at four instances.

The government has made quoting of biometric identity number Aadhaar mandatory for opening bank accounts as well as for any financial transaction of Rs 50,000 and above.

Existing bank account holders have been asked to furnish their Aadhaar number issued by the Unique Identification Authority of India (UIDAI) by December 31, 2017, failing which, the account will cease to be operational, according to a revenue department notification.

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