IBTimes

According to the filing, the company received the order on January 6, 2026, confirming a GST demand of Rs 1.92 crore, along with interest of Rs 1.58 crore and a penalty of Rs 19.24 lakh, taking the total amount to Rs 3,69,80,242.

This reflects strong upward mobility within the middle and upper-middle class, data compiled by ClearTax showed. The findings are part of ClearTax's annual report, 'How India Filed in 2025', which analysed millions of income tax returns to understand how Indians are earning, investing, and building wealth.

Silver prices also surged sharply after ending Friday's session on a subdued note. The March silver futures contract on MCX jumped by Rs 13,584 per kilogram to hit a day's high of Rs 2,49,900, up from the previous close of Rs 2,35,873.

Investor focus has shifted sharply to safe-haven assets like gold and silver, while oil prices are expected to move higher amid fears of supply disruptions. Markets turned cautious after US forces captured Venezuelan President Nicols Maduro and his wife during a military operation over the weekend.

Gold futures with February expiry eased moderately down 0.04 per cent, settling at Rs 1,35,752 on MCX on Friday. The price of 10 grams of 24-carat gold closed the week at Rs 1,34,782 up from Rs 1,33,195 at the year end, according to data published by the India Bullion and Jewellers Association (IBJA).

The rise in reserves also reflects the central bank's efforts to manage liquidity and ensure stability in the foreign exchange market. The RBI has stated that it closely monitors developments in the forex market and intervenes when necessary to maintain orderly market conditions.

Infrastructure-led sectors dominated investment intentions, with the top five sectors accounting for nearly 80 per cent of total announcements. Electricity (22.6 per cent), led by renewables, emerged as the largest contributor, according to the Bank of Baroda report.

RBI to stop Rs 500 notes from ATMs by March 2026. Some social media posts claim that the Reserve Bank of India will discontinue the circulation of Rs 500 notes by March 2026. This claim is fake, according to the X handle.

Central GST collections rose to Rs 34,289 crore, state GST collections to Rs 41,368 crore, and integrated GST collections to Rs 98,894 crore.