Wednesday, September 16
President Donald Trump and European Commission President Ursula von der Leyen appear to differ on some key details in their new trade agreement, underscoring the difficulty they may have in turning this deal into a reality.The European Union said it would accept a 15% tariff on nearly all its exports to the US. Trump told reporters that the bloc also agreed to open up its “countries to trade at zero tariff.”After he met with von der Leyen Sunday, Trump said that the deal would not include pharmaceuticals, a contentious point in the negotiations, seeming to imply they would be subject to a higher tariff. In a separate news conference, von der Leyen said, “The EU agreed we have 15% for pharmaceuticals.” But she added, “Whatever decisions later – by the president of the US – tha
The Central Board of Direct Taxes (CBDT) has relaxed the time limit for processing income tax returns filed electronically that were incorrectly invalidated by the CPC-Bengaluru due to technical reasons.The CBDT, in circular issued Monday, directed that returns of income filed electronically up to March 31, 2024, which were erroneously invalidated, shall now be processed and intimations of these returns shall be sent to the assessees by March 31, 2026.The decision will enable assessees to receive refunds along with applicable interest. However, refunds will not be made if PAN-Aadhaar linkage is not found, as per existing guidelines.The CBDT has instructed all concerned to comply with the directive and process the returns accordingly.— IncomeTaxIndia (@IncomeTaxIndia)
