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News18
5 hours ago
- News18
Zaggle Prepaid Ocean Q1 net profit jumps 56 pc to Rs 26 crore
New Delhi, Aug 14 (PTI) Fintech firm Zaggle Prepaid Ocean on Thursday said its consolidated net profit increased 56 per cent year-on-year to around Rs 26 crore in the first quarter ended June 2025. The company had registered a net profit of Rs 16.73 crore in the same period a year ago, Zaggle Prepaid Ocean said in a regulatory filing. The revenue from operations of Zaggle Prepaid Ocean increased by about 32 per cent to Rs 332 crore during the reported quarter from Rs 252.2 crore in June 2024 quarter. 'This is by far our best first-quarter performance, despite being a slower quarter in the year. With strong fundamentals in terms of growth in the total number of customers and users, healthy growth was visible across our revenue streams," Zaggle Prepaid Ocean Services Founder and Executive Chairman Raj P Narayanam said. The company recently added Hindustan Pencils, Apollo Health, Mo Engage, Novozymes, DTDC, CK Birla Healthcare and Truecaller as its clients. Narayanam said that the company is unlocking new levels of scale and efficiency with AI at the core of its product strategy. 'Our AI initiatives in multiple areas, including sales automation, customer support and engagement, and bill processing, are at various stages of deployment," he said. Founded in 2011, Zaggle has issued over 5 crore prepaid cards and claims to serve over 3,500 corporate enterprise clients, and support a user base of more than 33.9 lakh. The company, in a separate filing, said that it has filed a writ petition before High Court of Judicature at Hyderabad challenging the award of a tender for the selection of a service provider for the implementation of T-Wallet by Telangana government's Electronic Service Delivery. PTI PRS HVA view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
8 hours ago
- Mint
Income Tax Filing: Slow website, complex ITR forms trouble taxpayers; experts bat for deadline extension
Income Tax: A number of tax experts and taxpayers are reportedly facing problems with filing their income tax returns (ITR) for FY 2024-25. Some of them Livemint spoke to claimed that two crucial documents, AIS (Annual Information Statement) and TIS (Taxpayer Information Summary), could not be downloaded on Tuesday, while the I-T filing portal was functioning at a snail's pace on Wednesday. 'Yesterday, we were unable to download AIS and TIS, which are important to cross-verify data. So, we could not file any return. Today also, the tax filing portal is very slow,' says Chirag Chauhan, a Mumbai-based chartered accountant who runs CA Chauhan & Co. He further points out that income tax forms this year are taking longer than usual to complete because of additional information required. 'It is taking double the time from the taxpayer's side to fetch necessary details, especially to be able to claim deductions. For instance, to claim HRA, taxpayers now need to provide all necessary details such as PAN, property address, and place of property. These details were earlier meant to be provided to the employer, but now the ITR form also requires these inputs. Additionally, to claim a deduction against insurance, one needs to write the policy number as well,' adds Chauhan. Notably, the last date to file income tax return (ITR) for FY 2024-25 is September 15. Although there is over a month left to file the ITR, some believe that it is not adequate in view of the circumstances. While ITR-5 (Excel) was released on August 9, the CBDT is yet to release online utilities of ITR-6 and ITR-7. 'The ITR-5 was released only last week, whereas ITR-7– form meant for trusts -- has yet not been released. So, the time left to file the income tax return is very less as compared to last year. Additionally, the time that we, as CAs, are using to file ITRs should have been used to prepare companies' audit reports. The deadline to submit audit reports still stands at Sept 30, which needs to be pushed further,' says Pratibha Goyal, partner, PD Gupta & Company, a Delhi-based CA firm. CA Sagar Joshi, a social media user, wrote on X (Formerly Twitter) that the income tax portal is not allowing digital signature certificates (DSC) and users are facing errors regarding that. Meanwhile, another user under the same post urged the tax department to extend the due date further. 'You opened the ITR 3 in late. we dont have proper 90 days to file. Kindly extend the due date (sic),' Ramaiah Krishnasamy wrote on Tuesday on X. For all personal finance updates, visit here
Time of India
8 hours ago
- Time of India
AT&T, T-Mobile settle US wireless patent cases before trial
By Blake Brittain AT&T and patent owner Headwater Research told a Texas federal court on Tuesday that they have settled Headwater's lawsuit accusing the telecom giant of violating its rights in wireless communications technology. The companies asked the court to pause the case in light of the settlement before a trial that was set to begin on Thursday, according to an entry on the court's docket. Spokespeople for AT&T and attorneys for Headwater did not immediately respond to requests for comment and more information. Wireless carrier T-Mobile also settled a Headwater lawsuit over related technology on Tuesday, according to a separate court filing. Attorneys and spokespeople for T-Mobile did not immediately respond to a request for comment on Wednesday. Tyler, Texas-based Headwater was founded by scientist and inventor Gregory Raleigh. His company won a $279 million jury verdict against Samsung and a $175 million verdict against Verizon in separate cases over wireless technology in the same Marshall, Texas, court earlier this year. Headwater sued AT&T and T-Mobile in 2023, alleging their products infringed patents related to reducing data usage and network congestion. The lawsuits said that both companies copied Headwater's inventions after Raleigh met with their employees. AT&T and T-Mobile both denied the allegations and argued that the patents were invalid. The cases are Headwater Research LLC v. AT&T Inc, U.S. District Court for the Eastern District of Texas, No. 2:23-cv-00397 and Headwater Research LLC v. T-Mobile US Inc, U.S. District Court for the Eastern District of Texas, No. 2:23-cv-00379.
