News digest: Jet Airways' stake sale, angel tax exemption norms, and more

From IT refunds date to reduce to 1 day to Uber expnading its biz in India, BS brings you up to date with the latest news

Lenders likely to bag biggest stake in Jet

Even as the talks between Jet Airways and its lenders are learnt to have reached a stage of finality, the Naresh Goyal-led company issued an official statement to scotch any speculation around its foreign partner Etihad offering to raise its stake at a steep discount. Read more

Govt eases angel tax exemption norms

Facing sustained pressure from start-ups and venture capital funds over the so-called angel tax, the government has relaxed norms for seeking exemptions from the controversial levy. The government, via a notification issued on Wednesday, scrapped the existing mechanism to approve start-ups applying for tax breaks under Section 56(2)(viib) of the Income Tax Act. Read more

I-T refunds in one day likely by 2020

The Union Cabinet on Wednesday approved an integrated income-tax e-filing and centralised processing centre (CPC) portal, which will reduce the return processing time from 63 days to just one day. The new portal is also expected to process the refunds within one day of filing of tax returns, in huge relief for taxpayers. Read more

Companies can raise $750 mn via ECBs: RBI

The Reserve Bank of India (RBI) on Wednesday allowed entities that are eligible to receive foreign direct investment (FDI) to raise external commercial borrowings (ECBs), by enabling them to raise funds through automatic route up to $750 million per year. Read more

Jet Airways will come out of this: Nivaan Goyal

Almost a decade after having been inducted into 

Jet Airways as a management trainee by his father, Nivaan Goyal seems to be ready for a more substantial role in the airline, which is facing financial headwinds. Read more

Uber goes off the beaten track

Regular cars are becoming passé for Uber Technologies as it expands to intra-city buses, quadricycles, electric scooters and electric auto-rickshaws — some of which will be piloted for the first time in the country. Read more