The government on Wednesday extended the last date for filing income tax return by a week to September 7. Due date for filing Income Tax return extended till 7th Sep, 2015, the finance ministry said in a tweet. The earlier date was August 31. Earlier, the income tax department had extended the last date for filing I-T returns by residents of Gujarat to September 7 following disruption of normal life due to agitation over reservation to Patel community in the state. The tax payers base in the country is just over 4 crore. The government aims to collect Rs 7.98 lakh crore in direct taxes in the current financial year.

Nifty closes at August 2014 lows, tough month likely
A sharp selloff in the fag end of trade pushed the 50-share Nifty index below its crucial support level of 7,700, and experts feel that the index may fall by another 100-200 points in the near term. Markets plunged in the last 30 minutes of trade to close at August 2014 lows on Wednesday. The 50-share Nifty finally closed 68.85 points lower, or 0.88 per cent, at 7717.00, its lowest close since August 11, 2014. The benchmark BSE index lost 0.95 percent to close at 25,453.56 points, its lowest close since Aug. 8, 2014. Meanwhile, it is likely to be a tough month for traders till the time there is some visibility on US Fed rate hike and RBI monetary policy due later this month. However, investors with a long-term horizon can look to buy quality stocks.

Soldier, militant killed in Kashmir gunfight in Baramulla's Rafiabad
A soldier and a Hizbul Mujahideen militant were killed in a gun battle on Wednesday in a village in Jammu and Kashmir's Baramulla district, officials said. Security forces surrounded a house in Ladoora (Rafiabad) village early on Wednesday morning after learning that militants were hiding there. This triggered a fierce gun battle between the two sides.

Ban on mobile internet lifted in Gujarat
Police on Tuesday lifted the ban they had imposed on mobile internet, social media and SMS services in the wake of violence during the Patel stir in various parts of state last week. However, the restrictions will remain in force till Wednesday midnight in Ahmedabad though the situation has already returned to normalcy. As per a notification issued on Tuesday by the city police commissioner Shivanand Jha, the ban on mobile internet, social media services and SMS service will continue till Wednesday midnight.

RSS asks NDA govt to take a decision on OROP as soon as possible
Rashtriya Swayamsevak Sangha (RSS) on Wednesday after their meeting in Delhi with the BJP leaders said that the NDA Government should take a decision on One Rank, One Pension (OROP) as soon as possible. According to sources, RSS is of the opinion that a commission should be formed to solve controversial sides of matter. Earlier on Wednesday, home minister Rajnath Singh, finance minister Arun Jaitely, BJP president Amit Shah, urban development minister M Venkaiah Naidu were in the RSS-BJP coordination committee meeting with RSS chief Mohan Bhagwat and the Vishwa Hindu Parishad's Working President Praveen Togadiya.

Women and Child Development ministry, Facebook join hands to honour women achievers
The Union Ministry of Women and Child Development (MWCD) in collaboration with Facebook has launched the ‘#100Women Initiative’ that aims to recognise and acknowledge women who are making a difference in their communities, across the country. The ‘#100Women Initiative’ involves a contest to select 100 women achievers in India through public nominations via social media. Speaking about the initiative, the Union Minister for Women and child Development, Smt. Maneka Sanjay Gandhi said, “We have all had women in our lives who’ve made a difference, who have changed the course of our own lives, who’ve left a mark on the entire community and changed it for the better. We don’t thank them enough. Here is your chance to honour the women who’ve made a difference to your community. Log on to the Facebook Page of the Ministry of Women and Child Development, share a video with us on why the woman you choose should be honoured as India’s 100 most impactful Women.”

Furkan, not Tiger Memon, arrested in Pakistan
A person threatening people in the name of Mumbai serial blasts mastermind Tiger Memon was arrested by authorities during raids in Pakistan's Karachi on Wednesday. The man was later identified as Furkan who was wanted in several cases in Pakistan.Furkan's arrest initially triggered intense speculation in the national media that Tiger Memon, the prime conspirator of 1993 Mumbai blasts, was arrested in Pakistan.The man in question is accused of harassing girls and threatening people in the name of Tiger Memon.

CWG street lighting scam: 4 MCD officials, 2 others get jail terms
A Delhi court on Wednesday sentenced five persons, including four MCD officials, to four years jail term each and the managing director of a firm to six years in prison in the first conviction in a 2010 Commonwealth Games scam case. The case relates to CWG street lighting scam which had caused a loss of Rs 1.4 crore to the exchequer. Special CBI Judge Brijesh Garg awarded four-year rigorous imprisonment each to MCD Superintendent Engineer D K Sugan, Executive Engineer O P Mahla, Accountant Raju V and the civic body’s tender clerk Gurcharan Singh and private firm Sweka Powertech Engineering Pvt Ltd’s Director J P Singh.

PM Modi voices concern over high airfares during festive seasons
Prime minister Narendra Modi has expressed concern over steep rise in airfares during festive seasons, following which the Civil Aviation Ministry is looking at ways to curb such instances. There have been instances of airlines hiking price of air tickets during festival seasons when more people travel. Prime Minister received a representation that airfares are high during the Onam festival.

Rajasthan government raises road cess on petrol, diesel by 25 paise
The Rajasthan government has raised the road cess on petrol and diesel by 25 paise to Rs 1.25 per litre. Road cess has been raised from Re one to Rs 1.25 per litre on petrol and diesel, and the order was effected yesterday.

More water cuts for industries likely in Maharashtra
In view of the serious drought conditions prevalent in the Marathwada region, the Maharashtra government is mulling to further cut down water supply for the industries in the area from the current 10 per cent, imposed a month ago.
State Water Resources Minister Girish Mahajan today said that the government is hoping for some rainfall in the upcoming week, and if rainfall is not received, further water cuts would be imposed from next week.

Ericsson bags Airtel's 3G, 4G network contracts
Swedish telecom equipment maker Ericsson today said it has bagged a four-year 4G network rollout contract in Delhi from Bharti Airtel. The company has also signed another four-year agreement with Airtel to expand its 3G network across eight telecom circles in the country.