Worked in the US, UK or Canada? Form 40 can help Indians defer income tax liability on foreign pension accounts

Indians who worked abroad can now defer tax on foreign pension funds. Filing Form 40 electronically before the tax return deadline shifts taxation from accrual to withdrawal. This option, generally irrevocable, helps manage tax liabilities on accounts like US 401(k)s. Chartered Accountant Suresh Surana said, "this provision... allows individuals... to defer the taxation."

Andhra Pradesh records highest-ever May GST revenue at Rs 4,987 crore

Andhra Pradesh got its highest-ever May GST revenue at Rs 4,987 crore. Chief Commissioner A Babu said, "Andhra Pradesh has logged its best-ever May." This record collection, up Rs 737 crore from May 2025, was driven by higher GST and VAT receipts, plus tech-based compliance.

Persistent Systems expands Eastern European presence

Persistent Systems expands in Eastern Europe, adding over 90 professionals from Concise. This move strengthens their delivery network and expertise in AI-led product engineering and cloud-native technologies. Kuljesh Puri said, "Enterprises are increasingly rearchitecting core systems." The expansion aims to support clients in modernizing operations and digital infrastructure.

Indian IT raises R&D spending in FY26, but investment levels remain modest

Indian IT firms are raising R&D spending for FY26. Infosys and TCS showed increased investments, with TCS saying, "Margins saw support from greater productivity... which enabled investments." However, these levels remain modest compared to global tech giants like Microsoft, raising questions about innovation budgets keeping pace with the AI era.

Nitin Gadkari reviews 3,748 km of Wb national highways ahead of monsoons:

Union minister Nitin Gadkari reviewed 3,748 km of West Bengal national highways today. He chaired a high-level meeting to check quality and maintenance before the monsoons. Gadkari also reviewed over 12,000 km of highways in Andhra Pradesh. This ensures roads are ready for the heavy rains.

Wipro raises Aggne Global holding to 80% with $28.5 million investment

Wipro said on Monday it will buy 20% more of Aggne Global for $28.5 million, raising its stake to 80%. This move will boost Wipro's insurance sector strength. Aggne Group "is a fast-growing Insurtech company offering a wide range of AI- and Intellectual Property-driven services." The deal is expected to close by June 5, 2026.

Anant Raj signs Rs 20,000 Crore MoU with Haryana to expand data centre infrastructure

Anant Raj signed a Rs 20,000 crore MoU with Haryana to expand data centre infrastructure. This investment will boost digital connectivity and cloud services. The company said, "The proposed investment will support the development of state-of-the-art data centres." Anant Raj targets 307 MW capacity by 2031-32.

Nvidia expands global robotaxi push, partners with Foxconn and Uber on level 4 autonomous vehicles

Nvidia is expanding its robotaxi push, partnering with Foxconn and Uber. The company uses its Drive Hyperion platform to accelerate Level 4 autonomous EVs. Many automakers and ride-hailing services joined. Nvidia said, "driverless transportation is steadily moving towards the mainstream." This partnership got many excited for self-driving cars.

IIP records 4.9% growth in April 2026 as new base series debuts

India's industrial production showed 4.9% growth in April 2026 with a new base series. The Ministry of Statistics and Programme Implementation (MoSPI) launched this updated IIP series, which includes 120 new item groups. This change aims to "better capture structural changes" and align data with global standards.

Puravankara signs JDA for ₹1,100-cr housing project in North Bengaluru

Puravankara signed a JDA for an 11.23-acre land parcel in Doddagubbi, North Bengaluru. The project has an estimated ₹1,100 crore gross development value. Managing Director Ashish Puravankara said, "This joint development in North Bengaluru is part of our strategy." The company saw record sales of ₹7,407 crore in FY26.

India's industrial output in April at 4.9% under new series, manufacturing output grows 6.2%

India's industrial output in April reached 4.9% under a new series. Manufacturing output grew 6.2%, while mining contracted 5.1%. The government revised the base year to 2022-23, expanding the index to include new items like CCTV cameras and vaccines. This "provides more granular data."

Macron announces 93 bn euros in 'Choose France' investments

France got a record 93 billion euros in foreign investments, President Macron said Monday. This money will boost AI and data centres, with SoftBank contributing 45 billion euros. Macron said, "This edition of Choose France alone will make it possible to crystallise a record amount." Many jobs are expected.