About 100,000 reassessment notices issued by the income-tax (I-T) department in the past years -- where the income escaped from tax was above Rs 50 lakh -- will be concluded by March 2024, Union Finance Minister Nirmala Sitharaman said on Monday, assuring taxpayers of a transparent, objective, and friendly tax regime.

Speaking at an Income Tax Day event in New Delhi, Sitharaman said that widening the tax base remained a priority, and that the tax collected or deducted at source (TCS and TDS) approach to “track and trace” the likely tax liabilities, along with campaigns and nudges to encourage people to come on board on taxes, would help.

MCG giant ITC on Monday announced that it had received in-principle approval from the board of directors to demerge its hotel business. Under the new arrangement, a new entity called ITC Hotels Ltd will be incorporated as a wholly-owned subsidiary of ITC Ltd.

ITC will hold a 40 per cent stake in ITC Hotels, and the company's shareholders will hold the remaining 60 per cent proportionate to their shareholding.

Jaguar Land Rover India saw its sales double during the June quarter retailing 1,048 units.

The luxury car maker said that this was its best ever first quarter sales performance with a growth of 102 percent compared to the same period last year, riding on a 209 percent growth in the Range Rover, Range Rover Sport, Defender sales.

Avaada Energy on Monday said it has bagged a 280 megawatt renewable energy project from Solar Energy Corporation of India (SECI).

SECI is the nodal agency of the central government for auctioning renewable energy projects.

Elon Musk said Sunday that he plans to change the logo of Twitter to an “X” from the famous bluebird, marking what would be the latest big change since he bought the social media platform for $44 billion last year.

In a series of posts on his Twitter account starting just after 12 a.m. ET, Twitter’s owner said that he’s looking to make the change worldwide as soon as Monday.

Bode Ramachandra Yadav, a noted entrepreneur and farmer from Punganur in Chittoor district, launched a new party named Bharata Chaitanya Yuvajana Party (BCYP) at a well-attended public meeting, ‘Praja Simha Garjana’, held in front of Acharya Nagarjuna University in Guntur district on Sunday.

The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs. 1,440 crore.

The total valuation of the Adani financial services business stands at Rs. 1,600 crore.

Billionaire Gautam Adani-led group's copper-producing factory at Mundra in Gujarat will start operations from March next year, helping cut India's dependence on imports and aiding energy transition, sources said.

Copper is known as the "metal of electrification" as deeper electrification requires wires, which are primarily made from copper.

Prime Minister Narendra Modi on July 22 hit out at the previous UPA government, saying while it destroyed the banking sector with "scams" his dispensation has restored its good financial health, with India now known for the sector's strength.

Addressing a Rozgar Mela after giving appointment letters to over 70,000 recruits virtually, Mr. Modi noted that a large number of them have been employed in the banking sector as he highlighted how it was "destroyed" under the previous dispensation before his government took corrective measures.

The BJP alleged on Saturday that two tribal women were stripped naked and tortured a few days ago in West Bengal while police remained a "mute spectator". In a Twitter post, BJP's I-T department head Amit Malviya, who is also the party's co-incharge for the state, said the incident took place in Malda on July 19, with a "frenzied mob baying for her blood".

He also posted a video with blurred images of the crime.

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