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EPFO Begins Crediting 8.25% Interest for FY 2025-26: How to Check Your Balance
The Employees' Provident Fund Organisation (EPFO) has started crediting 8.25% interest for FY 2025-26 to EPF accounts, with many subscribers receiving SMS confirmations. The process is phased, and members can verify their balance via the EPFO portal, a missed call, or SMS service.
Flipkart to Pilot Online Food Delivery in India, Challenging Zomato and Swiggy
Walmart-owned Flipkart plans to launch a pilot for online food delivery in India within 30 days, aiming to challenge market leaders Zomato and Swiggy. The company will learn from the pilot before a wider national rollout, believing a strong value proposition can disrupt the market.
Presumptive Taxation Scheme: Eligibility, Benefits, and Tax Audit Requirements
The presumptive taxation scheme simplifies income computation for eligible Indian taxpayers like freelancers and small businesses, reducing compliance burdens. However, a tax audit is required if actual income falls below prescribed rates, necessitating careful evaluation of profit margins and expenses before opting in.
US Imposes 10% Tariffs on India, 16 Other Nations Over Forced Labor Imports
The US has imposed 10% tariffs on goods from India and 16 other nations, including Pakistan and Bangladesh, for allegedly failing to ban forced labor imports. India amended its foreign trade policy to prohibit such imports after the investigation began, leading to a lower tariff than initially proposed.
IBM CEO Arvind Krishna says delayed software deals are coming back; a third have already closed
IBM's market value plunged after CEO Arvind Krishna reported delayed Q2 software deals and a mainframe sales drop. Krishna asserts these are deferrals, not losses, with a third already closed. IBM also launched Lightwell, a $5B AI security initiative targeting enterprise vulnerabilities.
EU Fines Google ₹890 Million for Digital Antitrust Violations
The EU fined Google ₹890 million for digital antitrust violations, alleging it favored its own services and apps on Google Play and its search engine. This marks the latest EU crackdown on Big Tech, drawing criticism from Google regarding its impact on European consumers and businesses.