Page 12 - Banking Finance October 2025

ROUNDUP

Despite muted demand during mon- ing his Gujarat visit on August 25-26.
soons, the pre-festival season brought The Made-in-India e-Vitara will be ex- Attention Subscribers
in higher collections. Analysts expect a ported to over 100 countries, including Please renew your Subscription of The
slowdown in September due to flood advanced markets like Europe and Ja- Insurance Times Journal to receive
disruptions and consumer hesitancy copy of the journal uninterruptedly.
pan. The initiative highlights India's
linked to GST rate changes.
growing role in the global EV supply You can now pay by GPAY, Phonepe,
States like Sikkim, Meghalaya, and chain. Paytm, Amazon, ICICI Pay, BHIM UPI
Nagaland posted high growth, while On August 26, PM Modi will also inau-
Manipur saw a sharp 24% drop. Over- gurate local production of hybrid bat-
all, the trend is seen as encouraging tery electrodes at the TDS Lithium-Ion
amid global uncertainty. Battery plant-a Suzuki, Toshiba, and
With the government expected to an- Denso joint venture.
nounce GST cuts soon, officials are
This will enable more than 80% of the
closely monitoring upcoming collec- battery value to be manufactured do-
tions to ensure fiscal balance and sup- mestically, boosting clean energy inno-
port for struggling manufacturers and vation and self-reliance.
exporters.
PM Modi will also launch Rs. 5,400
PM Modi to flag off crore worth of infrastructure projects,
including Rs. 1,400 crore in railway
Suzuki's first global EV development such as the Mehsana-
from Gujarat Palanpur line doubling and gauge con-
Prime Minister Narendra Modi will flag versions of key regional lines.
off Suzuki's first global battery electric These efforts underscore India's com-
vehicle, the e-Vitara, from the mitment to both green mobility and
Hansalpur plant near Ahmedabad dur- infrastructure expansion.

President clears new Income Tax Act, effective April

2026
The new Income-Tax Act, 2025 has received Presidential assent and will Sashi Publications Easy Payment
come into effect from April 1, 2026, replacing the outdated 1961 law. Modes :-

The Finance Ministry called it a landmark reform aiming to create a sim- i) UPI ID: SASHIBOOKS@KOTAK
pler, more transparent and compliance-friendly tax regime. The Act was ii) GPAY: 9830171022@okbizaxis
passed earlier this month in Parliament without much debate. iii) PAYTM: 9830171022@paytm
Key updates include allowing 80M deductions for companies under the new iv) NEFT: Current A/C
regime and separating MAT and AMT provisions, with AMT now applicable 402120110000327 of 'SASHI
only to non-corporates claiming deductions. PUBLICATIONS PRIVATE
Refund claims will be allowed even in delayed filings, and carry-forward and LIMITED, Bank of India, VVK
set-off of losses have been restructured for clarity without changing the sub- Road Branch., Kolkata, India,
stance. IFSC Code : BKID0004021
For LLPs with only capital gains and no deductions, AMT will not apply. Do- v) Credit Card:
nations and exemptions for non-profits have also been aligned with the 1961 www.sashipublications.com
Act, offering relief to mixed-object registered organisations. For any query please call
This move marks a significant shift in India's direct tax structure, enhancing 9073791022/9883398055
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BANKING FINANCE | OCTOBER | 2025 | 11