State-run oil marketing companies are facing a major hit to their finances, Union petroleum and natural gas minister Hardeep Singh Puri flagged on Tuesday. Puri said that oil marketing companies (OMCs) are collectively losing around Rs 1,000 crore every day as they continue to sell petrol, diesel and LPG below cost. He added that the…

NEW DELHI: Petrol and diesel prices remained unchanged across major cities in India on Thursday, even as global crude oil prices continued to rise amid geopolitical uncertainty in West Asia.Government sources, however, have not ruled out a possible fuel price hike in the near future as oil marketing companies continue to face mounting losses due…

Mumbai: Salaried taxpayers claiming House Rent Allowance (HRA) under the Income-Tax (I-T) Act, face tighter disclosure norms from April 1, 2026, with the introduction of a new declaration format: Form 124 which replaces the earlier Form 12BB and requires additional details to curb misuse.Employees are required to submit this form to their employers for the…

In court, China Evergrande Group faced accusations including illegal fundraising through public deposits, fraud, corporate bribery. (AP file photo of Evergrande complex) Hui Ka Yan, the founder of heavily indebted property giant China Evergrande has admitted guilt to multiple offences. These include unlawfully taking public deposits, fraud, and corporate bribery, according to a statement released…