The rush to file return by the taxpayers on the last day resulted in the crashing of Income Tax site on Monday.The official website of the income tax department http://www.incometaxindiaefiling.gov.in was inaccessible on numerous occasions on the final day of filing return. As per the Central Board of Direct Taxes (CBDT), there has been an unprecedented surge in number of returns being e-filed. The salaried individuals and those persons who do not have business/professional income are required to file I-T returns in either ITR-1 or ITR-2 by every year.

India pitches for rating upgrade by S&P on strong macro data
India today pitched for rating upgrade by Standard and Poor's citing strong macroeconomic indicators, low inflation and improvement in fiscal as well as current account deficits. S&P has BBB- rating on India with stable outlook.
n his presentation to the visiting S&P officials, Chief Economic Advisor (CEA) Arvind Subramanian said that country has strong medium-term growth potential on back of persistent economic reforms which are being pursued by the government.

Sensex ends 109 points down at 26,283, Nifty closes below 8,000
The Sensex and Nifty broadly remained volatile on Monday ahead of economic data due later in the day amid concerns that the monsoon could be deficient this year. The BSE Sensex closed 109.29 points, or 0.41 per cent lower at 26,283.09. NSE Nifty closed 30.65 points, or 0.38 per cent, down at 7971.30. In the 50-share Nifty index, Cipla (3.66 per cent), Lupin (3.45 per cent) and Dr Reddy’s Laboratories (2.81 per cent) gained the most. On the other hand, share price of BHEL and Power Grid Corporation of India declined 3.64 per cent and 3.51 per cent, respectively, and stood on the bottom of the performance chart of the index.

Patidar protests: Next round of agitation from Surat tomorrow, says Hardik Patel
The next round of agitation to press for the demand for reservation to Patel community under OBC quota will kick-start tomorrow from Surat, Hardik Patel, who is leading the stir that plunged Gujarat into violence said on Monday.

Hardik, convener of the Patidar Ananmat Andolan Samiti (PAAS), who arrived at the Ahmedabad Airport from Delhi claimed that the agitation for reservation has gained support of several communities and rallies would be organised in other parts of country in the coming days.
Hardik also showed letters of various organisations who have extended their support. These include Gujjar Vikas Parishad, Kurmi-Kshatriya Mahasabha, Anjana-Chaudhari Samaj, Rashtriya Gujjar Manch etc.According to him, the total population of Patels, Gujjars and Kurmis in the country is 27 crores.

Attempt to murder charge slapped against Indrani, Sanjeev; police custody extended till September 5
Indrani Mukerjea, her former husband Sanjeev Khanna and her driver Shyam Rai were on Monday sent to police custody till September 5.  Police also slapped fresh charges of attempt to murder against the three for allegedly trying to kill Indrani’s son Mikhail Bora.Earlier in the court, Indrani’s lawyer alleged that she wasn’t allowed to meet her (Indrani) despite court orders. Sanjeev Khanna’s lawyer argued that his client should be sent to judicial custody now.

Can’t have annual pension revision, says Arun Jaitley on OROP
Finance Minister Arun Jaitley today virtually ruled out annual revision of pension as demanded by agitating ex servicemen under ‘One rank, One pension’ but said government will safeguard interests of soldiers retiring at an early age through higher pensions. Annul revision in pensions do not happen anywhere in the world, he said. Jaitley said the government was committed to OROP but the “only difficulty” is the “arithmetical translation”. Ex-servicemen have been agitating for 78 days at Jantar Mantar here demanding implementation of One Rank, One Pension, including annual revision of pension.

Government to infuse Rs 947 crore in Canara Bank
Public lender Canara Bank today said the government will infuse an equity capital of Rs 947 crore in the bank. It said the board of the bank at a meeting held today approved the proposal of issuing equity shares on preferential basis to the government in lieu of the capital infusion.