Income Tax (No.2) Bill 2026 simplifies tax terms, allows late TDS refunds, and updates dividend deductions and loss rules
The newly passed Income Tax (No.2) Bill, effective April 1, 2026, replaces the Income Tax Act, 1961, simplifying language and reducing complexity by eliminating terms like assessment year and previous year, replacing them with 'tax year.' It allows individuals to claim TDS refunds even if they file income tax returns after the due date, aligning with existing provisions. The bill also exempts TCS on Liberalised Remittance Scheme remittances for education financed by financial institutions and reintroduces deductions on certain inter-corporate dividends for companies opting for concessional tax rates. Amendments include changes to loss carry forward and set-off rules and removal of the beneficial owner reference to align with Section 79. The bill harmonizes definitions related to Micro and Small enterprises and addresses concerns on dividend deductions and associated enterprises, reflecting a taxpayer-friendly approach.

Opposition Protests Election Commission During Manipur Bills Debate, Leading to Disruptions and Walkouts
The upper house witnessed intense confrontations between opposition and ruling party members over the opposition's protest against the Election Commission related to the Special Intensive Revision in Bihar. The opposition sought to raise the issue during the discussion of Manipur-related appropriation and tax amendment bills, but the ruling party objected, asserting the matter was unrelated to the bills. The Chair refused to record unrelated points, leading to further disruptions and slogans from opposition MPs. Despite repeated interruptions, the bills were taken up and returned to the lower house. The opposition criticized the passage of bills amid disorder, while the ruling party claimed the House could not be held hostage and accused the opposition of obstructing proceedings. The session included walkouts and adjournments, with opposition members detained after attempting a march to the Election Commission, which they said was blocked. The tensions underscored ongoing disputes over parliamentary procedure and protest rights.

Subsidiary Wins Rs. 280 Crore Contract for Drilling Rig Charter, Boosting Upstream Oil Services Growth
A subsidiary of a major Indian infrastructure company secured a contract worth Rs. 280.1 crore from a Maharatna public sector oil company for charter hire of a drilling rig, marking the parent company's entry into upstream oil and gas services. The contract aligns with national energy policies aimed at reducing import dependence and boosting domestic exploration. The subsidiary operates a fleet of advanced drilling rigs and offers comprehensive upstream services, enhancing the parent company's capacity to undertake large-scale energy projects with stable, recurring revenues. This strategic move reflects the parent company's shift from traditional infrastructure projects to integrated energy services, positioning it for long-term growth in a sector characterized by high entry barriers and policy support.

Premium Watch Retailer Launches New Collection Blending Horology with French Culture and Storytelling
A premium multi-brand watch retailer in India hosted an event to launch a new collection from an international watchmaker, combining horology with French cultural elements. The event featured the unveiling of timepieces reflecting the brand's heritage and craftsmanship, accompanied by curated experiences such as artisanal coffee and ambient music. The retailer emphasized its strategy of enhancing consumer engagement through immersive storytelling and cultural connection rather than mere product sales. This approach aims to elevate the premium watch retail sector by fostering deeper brand-consumer relationships and celebrating design philosophies. The retailer operates a widespread network of stores and integrates physical and online retail channels, offering policies like same-day delivery and product exchanges to enhance customer experience.

Private Equity Firm Acquires Majority Stake in Growing Indian Fashion Jewelry Brand to Boost Expansion
A private equity firm has acquired a majority stake in a rapidly growing Indian fashion jewelry company known for blending contemporary and traditional designs. The investment aims to support the company's expansion through enhanced product innovation, omnichannel presence, marketing, and brand-building efforts. The acquisition aligns with the investor's strategy to back consumer-focused brands with strong growth potential. The fashion jewelry company's founders expressed confidence that the partnership will accelerate their growth trajectory and strengthen their market position. The investor's portfolio includes various beauty, wellness, lifestyle, and home furnishing brands, reflecting a diversified investment approach in consumer sectors.

Health Insurers Seek 15-35% Premium Hikes Due to COVID Claims, Inflation, and Expanded Coverage Features
Individual health insurers in India have sought their largest premium increases in over five years, with hikes ranging from 15% to 35%, following regulatory approval. These increases are attributed to elevated claims ratios during the COVID-19 pandemic, rising medical inflation averaging 14%, and expanded coverage features. The Insurance Regulatory and Development Authority of India (IRDAI) reviews and moderates these hikes to balance insurer viability and consumer protection, often requiring staggered increases and enhanced transparency. Individual policyholders, especially middle-class and senior citizens, face significant affordability challenges, leading some to reduce coverage or drop policies. Group insurance plans have seen smaller increases due to larger risk pools. IRDAI promotes standardized products and encourages consumers to compare policies, consider top-ups, higher deductibles, and wellness benefits to manage costs. Timely renewals and expert advice are recommended to avoid coverage lapses amid rising premiums.

Investigation Finds Severe Weather and Delayed Decisions Caused Aircraft Nose Radome Damage
An aviation regulator investigation found that severe weather and delayed re-routing decisions were the probable causes of damage to an aircraft's nose radome during a domestic flight in May. The flight encountered a hailstorm and severe turbulence while cruising, and the crew initially attempted to return but chose to continue through the storm due to proximity to the thundercloud. Multiple aircraft warnings were triggered, including autopilot disengagement and stall alerts, caused by updrafts and downdrafts. A request to enter neighboring airspace to avoid turbulence was denied. The incident highlights operational challenges in weather avoidance and timely decision-making during flight.

Teen Author's Debut Book Urges Youth to Demand Climate Action and Political Accountability
A teenage author has published a debut book addressing the urgent issue of climate change, emphasizing individual and collective responsibility alongside state action. The book highlights the severe environmental consequences of global warming and calls on younger generations to use their influence to demand political accountability on climate policies. The publisher endorses the work as a significant contribution to climate awareness and hopes it will be adopted by educational institutions worldwide. The author, a student with a strong academic and cultural background, aims to elevate climate change discourse in everyday life and inspire proactive engagement in environmental sustainability.

Electric Mobility Provider Rebrands and Appoints New CEO to Drive Sustainable Urban Transport Growth
An electric mobility solutions provider rebranded itself and appointed a new CEO to lead its expansion in clean and reliable transportation services. The company, which has grown its fleet from 24 to nearly 1,400 electric vehicles since March 2023, focuses on B2B and B2B2C mobility solutions for corporates and institutions. The leadership team emphasizes safety, sustainability, and social impact, aiming to set new standards in responsible urban mobility. The CEO, with experience in scaling clean-fuel fleets, and the Chief Business Officer, tasked with revenue growth and enterprise partnerships, join existing executives to strengthen operational execution. The rebranding includes a new logo and vehicle decals, reinforcing the company's commitment to professionalism and customer-first service across its expanding fleet and services.

Multinational Tech Firm Launches First Half-Marathon Races Featuring New Fitness Device and AI Assistant
A multinational technology company organized a running event across several countries, introducing its first half-marathon races in two markets. The event aimed to promote an active lifestyle and showcased the company's new fitness device, allowing participants to experience its features firsthand. Additionally, the event featured an AI assistant developed by a major tech corporation, providing interactive support and productivity tools to attendees. The event is planned to expand to multiple markets worldwide, targeting tens of thousands of participants to encourage health, innovation, and engagement with technology. The press release clarifies that the distributing agency holds no editorial responsibility for the content.

Bus Ticket Platform Offers Up to 70% Discount and Cashback for Independence Day Weekend Bookings
An online bus ticketing platform launched a promotional sale offering up to 70% discount and 70% cashback on bus bookings for the Independence Day weekend. The offer applies to private bus operators, with specific cashback and discount limits for new and existing users, and is valid for up to two bookings per user with a minimum transaction value. The sale is available during designated daily time windows over a ten-day period. The platform aggregates inventory from thousands of bus operators and provides various user services including fare comparison, live bus tracking, and cancellation protection. The promotion aims to encourage affordable travel during the holiday period.

Non-Profit Launches 3-Year Antimicrobial Stewardship Program Training 400 Healthcare Professionals
A non-profit organization launched a three-year Antimicrobial Stewardship Program in two Indian states to combat antimicrobial resistance by training 400 healthcare professionals from tertiary care centers. The program employs a hub-and-spoke model to mentor healthcare workers, promote rational antibiotic use, and develop master trainers for large-scale stewardship. The initiative aims to integrate antimicrobial stewardship with infection prevention, surveillance, and rational drug use policies to build a resilient health system. The launch event included national and state health leaders and technical experts who discussed strategies, challenges, and mentorship models to implement sustainable stewardship practices. The program reflects a collaborative effort to protect antibiotic effectiveness and improve health outcomes.

Karnataka Launches IT Policies to Boost AI, Quantum Tech, and Startup Growth by 2035
The Karnataka government announced initiatives to position the state as a leading hub for technology and innovation, emphasizing advancements in artificial intelligence and quantum technology. The state plans to develop infrastructure through new IT policies, including Quantum Hardware Parks and Innovation Zones, aiming to establish Karnataka as Asia's top quantum innovation center by 2035. Karnataka currently contributes 44% of India's software exports and hosts over 875 Global Capability Centres, with plans to add 500 more by 2029, creating significant employment and economic growth. The government also promotes startup growth, supporting over 18,300 startups and 45 unicorns, and is developing integrated ecosystems like QWIN City and Health City to foster innovation in wellness, healthcare, and life sciences. The upcoming Bengaluru Tech Summit will feature extensive sessions and networking opportunities to attract global industry leaders and investors.

Gold and silver prices fall after tariff denial and easing geopolitical tensions impact demand
Gold prices declined by Rs 900 to Rs 1,02,520 per 10 grams after reaching a record high, following a five-day rally driven by easing geopolitical tensions and clarification from the U.S. administration denying tariffs on gold bars. The decrease reflects reduced demand for safe-haven assets amid improved market sentiment due to planned diplomatic talks between the U.S. and Russia. Silver prices also fell by Rs 1,000 to Rs 1,14,000 per kilogram after a recent rise. Globally, spot gold and silver prices dropped, influenced by tariff-related uncertainties and market reactions. Analysts noted that any escalation in tariff disputes could trigger a renewed rally in precious metals prices internationally and domestically.

Fifth-Generation Family Member Becomes First Female Leader of Major Conglomerate with Cross-Industry Role
A prominent diversified conglomerate announced the appointment of its fifth-generation family member as the first female leader within the group. The individual, holding degrees in Financial Economics and Mathematics from a reputed university, will assume responsibilities across multiple business verticals, including energy, consumer goods, and sugar industries. The appointment involves a comprehensive cross-functional induction aimed at preparing for expanded operational duties by the end of the year. The chairman emphasized the appointee's alignment with the group's longstanding values and legacy, expressing confidence in her ability to contribute to the company's future growth. This development marks a historic milestone in the group's leadership structure, reflecting a blend of tradition and modern management approaches within one of the country's oldest business houses.

Electric Vehicle Maker Launches First Indian Plant Using AI and Renewable Energy Innovations
A conglomerate-backed electric vehicle manufacturer has expanded globally by opening its first assembly plant in India, leveraging its parent company's integrated technology and financial resources. The parent conglomerate's subsidiaries provide advanced AI, renewable energy, and smart mobility innovations that enhance the manufacturer's competitive edge. The Indian facility, located in Tamil Nadu, aims to produce premium electric SUVs with scalable capacity, creating local employment and supporting regional industrial growth. The expansion includes establishing service networks and sustainability initiatives, such as solar power generation and battery storage meeting global safety standards. This strategic move positions the manufacturer and its parent group as significant players in the competitive Indian EV market, combining innovation and infrastructure development to accelerate adoption and establish a long-term presence.