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Paytm plans messaging service to rival WhatsApp

NEW DELHI: Alibaba-backed Paytm will launch a messaging service to take on Facebook’s WhatsApp by the end of the month, according to company sources. Paytm – which counts Japanese conglomerate Softbank as one of its investors – will integrate a new feature on its platform that will allow users to chat and exchange audio, pictures and videos, two people aware of the development said. They did not want to be named as they are not authorised to comment on the matter. When contacted,…

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Car sales register strong growth in GST era as new models, price cuts push demand

NEW DELHI: The first month after the implementation of GST saw carmakers report healthy numbers as new models continued to go strong while companies built fresh inventory after clearing stocks before the implementation of the new tax regime. The price cuts announced by companies due to lower duty in GST also helped build volumes even as demand for hybrids slowed down after their prices went up substantially as the government slapped higher duty on them. According to wholesale numbers released by the manufacturers,…

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‘Impossible To Use Aadhaar To Track Citizens’, Supreme Court Told

The agency also suggested that too much was being made of privacy being a fundamental right. “Nothing is private in the online era,” the UIDAI told a nine-judge constitution bench of the Supreme Court. NEW DELHI: It is virtually impossible to use Aadhaar to track citizens, the agency that has issued the identification number to millions of Indians told the Supreme Court on Tuesday. The Unique Identification Authority of India, or UIDAI, said there were safeguards built into the…

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Deadline for I-T return extended till August 5

The government on Monday extended the deadline for filing the Income Tax Returns (ITRs) for the financial year 2016-17. The new deadline has been set at August 5. The announcement was made by the the Income Tax department’s verified Twitter handle. The I-T department cited ‘difficulties faced by taxpayers’ as the reason behind the extension. In view of the difficulties faced by taxpayers, date for filing of Income Tax Returns for FY 2016-17 has been extended to 5th August, 2017. — Income…

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New Deadlines: Saturday For Tax Returns, Aug 31 For Aadhaar-PAN Linking

A government official said that the e-filing website used for filing income tax return (ITR) online – witnessed overloading due to last-minute filings The last date for filing of income tax returns (ITRs) for the financial year 2016-17 has been extended to August 5. The original deadline was July 31. The Income Tax Department has already received over two crore returns filed electronically. The department had earlier issued advertisements in leading national dailies in the last few days stating that taxpayers should…

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PM Narendra Modi sets tough targets for states in ‘Housing for All’ initiative

NEW DELHI: Unhappy over the progress of the Pradhan Mantri Awas Yojana (Urban) project to ensure housing for all by 2022, Prime Minister Narendra Modi has asked states to “accord priority” to its implementation and send a detailed roadmap to the Prime Minister’s Office. In a video conference with state chief secretaries on July 12, Modi fixed a tough target by asking states to ensure that all houses sanctioned for construction in years 2015-16 and 2016-17 are completed before the end of 2017-18, senior officials…

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Bajaj Auto Q1 net profit down 19% to Rs 837 crore

NEW DELHI: Bajaj Auto on Thursday reported 19.51 per cent decline in consolidated net profit to Rs 836.79 crore for the June quarter of current fiscal, on account of lower sales. It had posted net profit of Rs 1,039.70 crore in the April-June quarter of last fiscal. Bajaj Auto said in a BSEfiling that its total income from operations during the quarter under review stood at Rs 6,177.66 crore as against Rs 6,355.84 crore in the April-June quarter of 2016-17. The domestic industry,…

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Wipro net profit up 1.2% at Rs 2,083 crore

Wipro, the country’s third largest software company, on Thursday reported a 1.2 per cent growth in its net profitat Rs 2,083 crore during the first quarter (April- June 2017). However the company reported a fall of a little over 8 per cent fall quarter-on-quarter (QoQ) for April-June period at Rs 2,077 crore. Analysts had predicted flattish numbers for Wipro on the back of muted global macro, uncertainty of adverse visa rules in the US and transition of the existing business to new…

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RIL plans to sell 20 crore 4G feature phones in two years

NEW DELHI: With an eye on 2G mobile users, Reliance Industries is working on a strategy to sell 200 million 4G feature phones — likely to be priced Rs 1,000- 1,500 — in two years, industry sources told PTI. The company is planning to launch it in the second half of August. However, it could not be ascertained if the handsets will be sold by Reliance Retail or Jio. “Reliance has not yet finalised actual unit price of the feature phones, but it is…

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Air India may offer voluntary retirement to 15,000 ahead of sale

Air India is drawing up a proposal to offer voluntary buyouts to just over a third of its 40,000 employees, a senior company official said, one of the largest such offers in India’s state sector, as the airline slashes costs ahead of a 2018 sale. The official, who could not be named as the plans are not public, said the state-owned airline had also put fleet expansion on hold, scrapping a proposal to lease eight Boeing 787 wide-body aircraft. Air…

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