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Income Tax return filing deadline extended to December 31, 2021

The Central Board of Direct Taxes (CBDT) on Thursday extended the deadline to file the income tax returns (ITR) for the assessment year 2021-22 till December 31, 2021. Usually, due by the end of July, the deadline was extended last time in May till September 30 in view of COVID-19.

Flipkart adds 4 new warehouse centres in Haryana; to create 12,000 jobs

Flipkart said it has strengthened its supply chain network with the addition of four new facilities at Sanpada, Yakubpur, Kulana, and Rewari in Haryana. It will create additional 12,000 direct and indirect jobs in the state, Flipkart added. “More than 13,000 sellers from the state will get augmented support to reach lakhs of new customers nationally,” it said.

Bengaluru-based home interior startup HomeLane raises ₹367 crore

Bengaluru-based home interior solutions platform HomeLane has raised over ₹367 crore ($50 million) in Series E funding round led by IIFL AMC’s late Stage Tech Fund, Oman India Joint Investment Fund and Stride Ventures. Its existing investors including Pidilite, Evolvence, NuVentures, Sequoia and Accel also participated in the round. HomeLane has now raised over ₹765 crore to date.

Karnataka received highest FDI in India at ₹62,085 crore in Q1

Karnataka attracted the country’s maximum share of FDI in the April-June quarter, state’s Minister for Large and Medium Industries Murugesh Nirani said. “Karnataka attracted ₹62,085 crore investments in April-June…and became a top recipient with 48% share of total FDI in India,” he further said. Karnataka was at the third spot in 2020-21 by attracting ₹56,884 crore, Nirani added.

Ford to stop making cars in India, cites $2 billion operating loss in 10 years

Ford Motor Company on Thursday announced that it will cease local manufacturing in India. It will stop manufacturing for exports at Sanand plant by fourth quarter of 2021 and Chennai engine and assembly plants by second quarter of 2022. Ford has accumulated over $2 billion of operating losses in India over the past 10 years, Ford’s CEO Jim Farley said.

Supreme Court stays all proceedings in Amazon-Future Group case in Delhi HC for 4 weeks

The Supreme Court has ordered a stay on all proceedings before the Delhi High Court in Amazon’s case against the ₹24,713-crore Future Retail-Reliance Industries deal for four weeks. The court also issued notice on a plea by Future Group against Delhi HC’s order that directed attachment of the assets of the group and its promoter Kishore Biyani.

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