Is tax filing deadline getting extended again? These key ITR utilities still pending
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Time of India
an hour ago
- Time of India
Microsoft set to hit $4 trillion market cap after earnings beat
Microsoft Corp. is set to become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street's expectations, sending the stock soaring in extended trading Wednesday. Shares of the technology behemoth jumped as much as 9% to more than $560 in late New York trading, and if even a portion of the gain holds through Thursday's market open, Microsoft will reach a market value of $4 trillion. Nvidia Corp. became the first company to hit the milestone earlier this month. 'Microsoft is getting the recognition that it deserves because it is the operating system for business. All of us run our businesses on Microsoft with Word, with Outlook, with Excel,' said Kim Forrest, chief investment officer at Bokeh Capital Partners LLC. 'This quarter's results point to an even better position for Microsoft because, like Nvidia, there appear to be no substitutes.' The company's latest results confirmed that it's a leader in the artificial intelligence boom that's lifted megacap tech stocks, and the broader market, for the last few years. Microsoft reported better-than-expected growth in its cloud business, and its closely-watched Azure cloud-computing unit posted a 39% rise in sales, handily beating the 34% analysts expected. On a call with analysts, Chief Financial Officer Amy Hood said Microsoft expects fiscal first quarter capital expenditures at more than $30 billion, and full year revenue growth in the double digits. In addition, Azure is expected to post a 37% growth rate in the first quarter, above forecasts. The stock is the second-best performer among the so-called Magnificent Seven mega tech stocks this year. Since its April 8 trough when President Donald Trump's sweeping tariff threats spurred a broader market selloff, the stock has surged nearly 45% to close just shy of a record high ahead of its Wednesday earnings report. This year has marked something of a rebound for Microsoft stock. It had lagged its peers in 2024 and the first quarter of 2025, the only Magnificent Seven stock in the red for that period, as investors grew concerned about its AI position and Azure growth. Wall Street is largely bullish on Microsoft shares, with 65 of the 72 analysts covering the company giving it a buy rating and one giving it a sell, according to data compiled by Bloomberg. The average 12-month price target of $554 implies upside of about 8% from Wednesday's close.
Indian Express
2 hours ago
- Indian Express
Building Pune: Pune Metro to expedite work on extended route from PCMC to Nigdi
Pune Metro rail authorities are expediting the completion of the extended segment of the Phase One route from PCMC station to Bhakti Shakti in Nigdi, with the goal of making it operational six months ahead of schedule. Prime Minister Narendra Modi laid the foundation stone for the construction of this 4.413 km-long extended stretch in March last year, but the actual work began only five months later. 'The construction of the extension stretch from PCMC to Bhakti Shakti in Nigdi began in August last year, and the civil work is going in full swing. The deadline for completing work on the stretch is 36 months from the start of actual work, but we are planning to complete it in 30 months,' said Hemant Sonawane, Executive Director, Pune Metro Rail. Sonawane said the administrative processes for laying overhead cables on the track and the mechanical work of installing escalators and lifts have begun even before the completion of civil work. 'We don't want to waste time on completing the administrative process for the works related to the stretch, so it has been done well in advance,' said Sonawane. The route from PCMC to Bhakti Shakti in Nigdi is elevated and has three stations at Chinchwad, Akurdi, and Nigdi. The estimated cost of the extended route is Rs 1,048.22 crore, which covers expenses on development of intermodal integration, stations, pedestrian bridge, system and tracks, environment impact assessment, design, depot and parking on the route. The 17.4 km Metro route from Swargate to PCMC has been made operational and has received positive response from the public. This route has been extended from PCMC to Nigdi on one end and Swargate to Katraj on the other end. However, the construction on the extended underground route of 5.5 km from Swargate to Katraj is yet to start even though it is expected to be completed by February 2029 at an estimated cost of Rs 2,954.53 crore. Additionally, the second route, measuring 15.7 km from Vanaz to Ramwadi, is also fully operational. Last month, the Central Government approved its extension on both ends — connecting Vanaz to Chandani Chowk and Ramwadi to Wagholi. These two extended elevated corridors will span 12.75 km and include 13 stations, linking fast-developing suburbs such as Chandani Chowk, Bavdhan, Kothrud, Kharadi, and Wagholi. The project is scheduled for completion within four years at an estimated cost of Rs 3636.24 crore. Meanwhile, the Pune Metropolitan Region Development Authority (PMRDA) is developing the Metro Line-3, which will span 23 km from Hinjewadi to Shivajinagar District Court. This line is expected to start operations by March 2026. Ajay Jadhav is an Assistant Editor with The Indian Express, Pune. He writes on Infrastructure, Politics, Civic issues, Sustainable Development and related stuff. He is a trekker and a sports enthusiast. Ajay has written research articles on the Conservancy staff that created a nationwide impact in framing policy to improve the condition of workers handling waste. Ajay has been consistently writing on politics and infrastructure. He brought to light the lack of basic infrastructure of school and hospital in the hometown of Maharashtra Chief Minister Eknath Shinde even as two private helipads were developed by the leader who mostly commutes from Mumbai to Satara in helicopter. Ajay has been reporting on sustainable development initiatives that protects the environment while ensuring infrastructure development. ... Read More
India Today
3 hours ago
- India Today
ITR-U Filing Starts: Correct Your Old ITR Mistakes Now
ITR-U Filing Starts: Correct Your Old ITR Mistakes Now 31 Jul, 2025 Credit: Getty Taxpayers can now file updated returns for AY 2021-22 and 2022-23 using ITR-1 and ITR-2. ITR-U Now Open ITR-U is an 'Updated Return' form that lets individuals correct earlier ITRs—whether it's unreported income, wrongly selected income head, or even a completely missed filing. What Is ITR-U? Taxpayers now get up to 48 months (4 years) from the end of the relevant assessment year to file an updated return—up from the earlier limit of 2 years. New 4-Year Time Limit Anyone who missed filing their return, made errors in income reporting, picked the wrong income head, or wants to revise unabsorbed losses or tax credits can use ITR-U. It also applies if you owe tax on missed income. Who Can File? You'll pay 25% to 70% extra tax, depending on how late you file. The sooner, the cheaper. Extra Tax Applies
