Kerala High Court lifts BCCI's lifetime-ban on Sreesanth

Shivamogga: From the serene town of Thirthahalli, Deeksha R, a bright student of Vagdevi Pre-University College, has made her mark on the state stage by sharing the first rank in the Science stream of the PU 2 examinations. She scored an outstanding 599 out of 600, tying with Amoolya Kamath of Mangaluru.

Deeksha is the daughter of Raghavendra Kalkura and Usha V, both committed educators. Her father, a teacher at the Government High School in Megaravalli, said with joy, “We were expecting around 595 marks. But 599 was a surprise and a moment of pure happiness. Deeksha didn’t study daily in a strict routine, but she was focused and had a well-planned approach. During her study holidays, I helped her prioritise subjects based on need.”

Deeksha's academic brilliance isn’t new — she had earlier scored 98.6% in Grade 10 (ICSE) at Sahyadri School, Bettamakki. Her PU college teachers recognised her potential early and provided strong support throughout.

Looking ahead, Deeksha has big ambitions — she plans to pursue a career in Artificial Intelligence engineering. She has already appeared for the JEE exams and is preparing for the CET next week. “We’re hopeful she’ll secure a seat in a top engineering college,” her father added.

College Principal Mamata expressed immense pride: “Deeksha never attended any tuition outside of college. Her discipline and commitment were remarkable. It’s a proud moment for our college and our town.”

By sharing the top rank in the state, Deeksha has not only brought glory to her hometown but also become a symbol of how talent, discipline, and the right guidance can create a truly stellar success story.

As the new financial year begins, several significant financial and tax-related changes take effect from April 1, 2025. Many of these updates were announced by Finance Minister Nirmala Sitharaman in the Union Budget 2025 and have now been officially approved as part of the Finance Bill 2025.

Some of the key changes include income tax exemption on annual earnings up to Rs 12 lakh, deactivation of UPI for long-unused mobile numbers, and suspension of dividend payouts for individuals who haven’t linked their PAN with Aadhaar. Below is a comprehensive look at all the important updates.

1. Income Tax Exemption & New Tax Slabs
Under the revamped tax regime:
✅ Individuals earning up to Rs 12 lakh per year will be completely exempt from income tax.
✅ For salaried employees, a standard deduction of Rs 75,000 raises the effective tax-free limit to Rs 12.75 lakh.
✅ To claim a rebate of up to Rs 60,000, taxpayers must file their returns on time.
✅ The new tax structure applies to income earned between April 1, 2025 – March 31, 2026, and will be reflected in ITR filings for FY 2025-26 (AY 2026-27).

2. Major Changes in TDS & TCS Rules
To provide tax relief and streamline transactions, several TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) amendments have been introduced:
🔹 TDS on bank interest for senior citizens has doubled from Rs 50,000 to Rs 1 lakh.
🔹 TDS on dividend income has increased to Rs 10,000.
🔹 TCS on overseas remittances under the Liberalised Remittance Scheme (LRS) has been raised from Rs 7 lakh to Rs 10 lakh.

3. UPI Deactivation for Inactive Mobile Numbers
The National Payments Corporation of India (NPCI) will start unlinking UPI IDs associated with inactive mobile numbers. If your number has been inactive for a long period:
🔸 Your bank may remove it from their records.
🔸 You could face disruptions in Google Pay, PhonePe, or any UPI-based transactions.
🔸 This change enhances security by preventing unauthorized access to old UPI-linked accounts.

4. New GST Rules
Several Goods and Services Tax (GST) updates take effect:
🔹 Multi-factor authentication (MFA) is now mandatory for logging into the GST portal, improving online security.
🔹 E-way bills can only be generated for documents issued within the last 180 days, ensuring better compliance.
🔹 Hotel room tariffs above Rs 7,500 per day are now classified as "Specified Premises," attracting an 18% GST on restaurant services.

5. Toll Tax Hike Across National Highways
From April 1, 2025, toll charges across various highways will increase:
🚗 Delhi-Meerut Expressway, NH-9: Toll for cars will rise by Rs 5 to Rs 170.
🚛 Trucks and buses will now pay Rs 580 on major highways.
🚗 Delhi-Jaipur Highway: The Kherki Daula toll plaza will maintain current rates for cars, but the monthly pass for larger vehicles will rise by Rs 20 to Rs 950.

6. End of Equalisation Levy on Digital Transactions
The Finance Act 2025 removes the Equalisation Levy, which previously imposed a 2% tax on e-commerce and 6% on online advertisements. This change aims to:
✅ Reduce tax burden on digital service providers.
✅ Attract foreign investments in India’s digital economy.

7. Positive Pay System for Cheque Payments
To prevent bank fraud, the Positive Pay System requires account holders to:
✅ Electronically submit cheque details for payments above Rs 50,000.
✅ Ensure the details match before the cheque is processed.

8. KYC Mandatory for Mutual Fund & Demat Accounts
🔹 KYC (Know Your Customer) verification is now compulsory for mutual fund and demat accounts.
🔹 Nominee details will also undergo re-verification to enhance security.

9. Major Credit Card Perk Reductions
Credit card users will see major perk reductions, particularly with SBI, IDFC First, and Axis Bank:
❌ SBI Cards will remove complimentary insurance coverage for accidents (Rs 50 lakh for air, Rs 10 lakh for rail).
❌ Reward points on SBI Cards will be slashed from 15% to just 5%.
❌ IDFC First Club Vistara cardholders will lose milestone benefits and Club Vistara Silver membership perks.
❌ Axis Bank is discontinuing Maharaja Club tier memberships and premium vouchers.

10. Minimum Balance Rules for Bank Accounts
📌 Major banks like SBI, PNB, and Canara Bank have updated their minimum balance requirements based on account location:
🏙 Urban branches will require higher minimum balances.
🏡 Rural and semi-urban accounts may have lower minimum balance thresholds.
🚨 Failing to maintain the required balance will result in penalty charges, varying by bank.

11. Unified Pension Scheme (UPS) for Government Employees
The Unified Pension Scheme (UPS), introduced in August 2024, takes effect:
✅ Central government employees under NPS can opt for UPS.
✅ Those with at least 25 years of service will receive 50% of their average basic salary as a monthly pension.

Final Thoughts

These changes, introduced as part of the Union Budget 2025, mark a significant shift in India's tax, banking, and digital transaction landscape. With higher tax exemptions, updated TDS & TCS rules, stricter banking security, and GST amendments, the new financial year aims to simplify compliance while improving financial security and economic efficiency.

Stay informed and ensure all necessary updates to your financial accounts to avoid disruptions.

Mumbai: In a powerful symbol of friendship and collaboration, the first official visit of Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum to India has paved the way for landmark initiatives — including a not-for-profit hospital for blue-collar workers and the launch of a virtual UAE-India trade corridor.

A key highlight of the visit is the announcement of the UAE-India Friendship Hospital (UIFH), to be established in Dubai. The hospital will provide accessible, inclusive healthcare for blue-collar workers, reaffirming the shared commitment of both nations to uplift underserved communities.

The initiative is being jointly developed by Dubai Health and five leading Indian entrepreneurs, who will serve as the founding trustees. The agreement was signed in Mumbai at a special event hosted by Dubai Chambers, with Dr Amer Sharif, CEO of Dubai Health, representing the UAE side.

The founding trustees of UIFH are:

Faizal Kottikollon, Chairman of KEF Holdings

Nilesh Ved, Chairman of Apparel Group

Siddharth Balachandran, Executive Chairman of Buimerc Corporation

Tariq Chauhan, Vice Chairman of EFS Facilities

Ramesh S Ramakrishnan, Chairman of Transworld Group

All five are prominent members of the UAE India Business Council – UAE Chapter (UIBC UC).

Describing the visit as “monumental,” Siddharth Balachandran said:

“This is truly a monumental visit in terms of strategic impact for both nations. The announcement of collaborative projects in healthcare, education, and philanthropy is the icing on the cake. I’m especially proud to be part of UIFH, which will serve the blue-collar community with dignity.”

The Crown Prince’s visit came at the invitation of Indian Prime Minister Narendra Modi, and marks a significant step forward in UAE-India ties. Over the two-day visit, eight strategic Memorandums of Understanding (MoUs) were signed in the presence of Sheikh Hamdan and India’s Minister of Commerce and Industry, Piyush Goyal. These MoUs span sectors such as infrastructure, healthcare, higher education, maritime services, logistics, and private sector engagement.

A standout partnership was the agreement between DP World and RITES, a premier Indian government enterprise under the Ministry of Railways. Signed by Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, and Rahul Mithal, CMD of RITES, the MoU focuses on building resilient, tech-enabled supply chains, in line with the long-term economic visions of both countries.

The visit not only strengthened bilateral ties but also demonstrated the growing synergy between the two nations in driving humanitarian, economic, and technological progress.