Latest news with #MIT-WPU
Time of India
3 days ago
- Business
- Time of India
Return filing season likely to be longer due to structural changes in capital gains tax
Pune: Tax experts and chartered accountants are expecting a prolonged tax season for the fiscal year 2024-25 (Assessment year 2025-26) because of several structural and technical modifications to the short-term and long-term capital tax. Many income tax return forms were uploaded late and hence it is likely to extend the filing process for chartered accountants and taxpayers. The income tax department has extended the deadline for filing returns to Sept 15 from July 31 for FY 2024-25 to account for the complexity. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune "The return filing may extend till the festive season, followed by the GST filing deadline of Dec 31. This is expected to be a busy tax season," said Sukrut Deo, a chartered accountant. Tax experts said the calculation of short-term capital gains tax (STCG) and long-term capital gains (LTCG) tax is impacted after structural changes that came into effect on July 23, 2024. As per the new rules, the rate of STCG incurred before July 23, 2024, would be 15%, while investments redeemed after the date would attract a tax rate of 20%. Similarly, LTCG on mutual fund and stock investments before July 23, 2024, would be 10%, while after the date, it would be 12.5%. Long-term gains on property will now be taxed at 12.5% without indexation or at 20% with indexation benefits, depending on the option chosen by the taxpayer. The benefit of indexation, which was previously included in long-term capital gains tax computation, will no longer be available for gains arising after July 23, 2024. The forms now demand that capital gains be split into two periods, before and after July 23, 2024, with different tax calculations and reporting formats, said Saee Sumant, chartered accountant and assistant professor at MIT-WPU. Over the past three to four years, the work of tax professionals has increased significantly, as major taxpayers are investing in mutual funds and stocks. It is an extremely time-consuming process with the amount of filing involved with LTCG and STCG to be done, said Pravesh Advani, a chartered accountant. To assist taxpayers in accurately filing their taxes, the department has released revised tools and validation guidelines. In order to detect 'Category-D' faults, which could result in disallowances, and 'Category-A' defects, which prohibit return upload, these new validation rules are essential, a tax consultant said. The department uploaded the form 'ITR-2' earlier this week, significantly late than usual upload period of May. In addition, 'ITR-3' was also not uploaded properly, experts said. Form 'ITR-1' is for salaried individuals with earnings within Rs 50 lakh, 'ITR-2' for capital gains, 'ITR-3' for business income, 'ITR-4' for small business and professions, 'ITR-5' and 'ITR-6' for companies, and 'ITR-7' is for charitable trusts. For the last fiscal year, i.e. 2023-24 (AY 2024-25), 7.28 crore returns were filed. Of these, 45.77% are 'ITR-1' (3.34 crore), 14.93% are 'ITR-2' (1.09 crore), 12.50% are 'ITR-3' (91.10 lakh), 25.77% are 'ITR-4' (1.88 crore), and 1.03% are 'ITR-5' to 'ITR-7' (7.48 lakh), as per govt data released earlier.
Business Wire
18-06-2025
- Business
- Business Wire
India to Host Inaugural World Technology Summit in 2025
NEW YORK--(BUSINESS WIRE)-- World Technology, the leading platform celebrating human ingenuity across science, technology, and innovation, announces the inaugural World Technology Summit (WT Summit), set for November 5-7, 2025 in Pune and Mumbai, India. 'India offers the energy, scale, and ingenuity that the future demands." Share 'India offers the energy, scale, and ingenuity that the future demands,' said Paul J. Foster, Co-Founder and Executive Chairman of World Technology. 'The WT Summit is a platform for bold ideas, leading voices and new alliances — and we are proud to be together at MIT World Peace University, Pune.' Developed in collaboration with MIT World Peace University, one of India's leading universities, the WT Summit will convene global experts in science, technology, and public leadership to explore innovation across Data and Life Sciences. Programming will highlight frontier advances in AI, biotechnology, education, and digital infrastructure. 'At MIT-WPU, we believe that technology must serve humanity not just through invention but through intention. Hosting the World Technology Summit in Bharat is a clarion call to the world, that the future of global innovation must be inclusive, ethical and anchored in peace for societal transformation,' remarked Dr. Rahul V. Karad, Executive President, MIT World Peace University, Pune, Bharat. 'We are proud to host the inaugural World Technology Summit,' said Dr. Prasad D. Khandekar, Chief Academic Officer at MIT-WPU. 'This moment reflects both Bharat's ambition and our institution's commitment to advancing technology with purpose.' Professor Ganesh Kakandikar, Associate Dean of External Relations, will coordinate between both teams to ensure a successful summit. The summit in India will be a momentous occasion reflecting harmony between the global north and global south at the crossroads of technology. 'This summit puts ingenuity on center stage,' said Deborah Pandit-Sawaf, Chair of the WT Summit 2025 India Coordination Commission. 'We're convening the people and platforms shaping the future — and India is where it starts.' The WT Summit will feature high-level keynotes, immersive demonstrations, and youth-led programming designed to inspire collaboration and tangible progress. About World Technology World Technology (WT) is a global organization that convenes the worlds of technology, science and innovation. The World Technology Games is the annual flagship competition celebrating human ingenuity across Life, Earth, Data and Industrial sciences. Set to debut in 2026, the annual five-day event will convene scientists, engineers, technologists and innovators from around the world. The World Technology Summit is staged in key world cities and focuses on humanity's greatest challenges. WT is helmed by an accomplished Leadership team and a Global Advisory Group of leading experts with a mission to elevate great human ingenuity behind the world's greatest advancements of today and tomorrow. Learn more at
India Today
17-06-2025
- Business
- India Today
New MIT-WPU lab sparks innovation in lithium and sodium batteries for India
As the world looks for new sources of clean energy, a team of researchers at the MIT-World Peace University (MIT-WPU) has launched a cutting-edge battery fabrication and research facility focused on lithium-ion (Li-ion) and sodium-ion (Na-ion) is the first private state university in India to launch such a facility. This initiative supports national goals to boost India's energy independence and sustainable technology facility offers comprehensive, end-to-end capabilities—from synthesising active materials to fabricating coin cells and evaluating their electrochemical performance. MIT-WPU's research team is developing advanced electrode materials to improve battery energy density, cycling stability, and efforts focus on next-generation solid-state electrolytes (SSEs), which promise higher ionic conductivity and better thermal stability than traditional liquid electrolytes, enhancing battery safety and efficiency. The team aims to translate laboratory breakthroughs into scalable, real-world battery solutions. (Photo: MIT-WPU) Innovations at the centre include exploring glass-polymer composite electrolytes and pioneering paper-based batteries in collaboration with Mid Sweden facility has also begun synthesising high-purity solvents and electrolytes to support Indian battery manufacturers with quality raw materials, a critical step toward strengthening domestic supply with state-of-the-art instruments, the centre facilitates both academic research and industry partnerships, aiming to translate laboratory breakthroughs into scalable, real-world battery are underway to expand manufacturing capabilities to include cylindrical and prismatic cells, broadening the range of battery Dr. Bharat Kale, Director of the Centre of Excellence in Materials Science at MIT-WPU, emphasised the facility's alignment with India's strategic missions and its role in nurturing future talent."The group is working on paper batteries in collaboration with MID Sweden. This facility not only fosters academic and industry collaboration but also serves as a vital platform for training future talent. With greater support from national funding agencies like ANRF and others, private institutions like ours can significantly contribute to India's clean energy future,' Prof. Dr. Bharat Kale centre provides hands-on training for engineering and science students and offers research opportunities for Ph.D. scholars, preparing them for careers in clean energy technologies.
India Today
22-05-2025
- Science
- India Today
Drop in Pune's ability to absorb carbon is a wakeup call for most Indian cities
Pune, one of India's fastest-growing urban centers, has witnessed a dramatic 34% decline in its carbon sequestration capacity over the past decade, according to a new study by MIT-World Peace University (MIT-WPU) and Sustaina Greens research, led by Dr. Pankaj Koparde and Pratiksha Chalke, highlights the environmental cost of the city's rapid expansion, with built-up areas increasing by 12% between 2013 and surge in urban development has come at the expense of Pune's green cover, significantly reducing the city's ability to absorb carbon dioxide—a major greenhouse gas driving climate change. The study, published in the journal Sustainable Futures, also found a 13% drop in Pune's flood mitigation potential, attributed to the disruption of natural drainage systems and unchecked construction along riversides and changes have heightened the city's vulnerability to flooding, especially as erratic monsoon patterns become more frequent. The study points to the importance of preserving Pune's native landscapes its hills, rivers, and wetlands. (Photo: Getty) Dr. Koparde emphasized the crucial role of Pune's native landscapes—its hills, rivers, and wetlands—which historically have acted as natural buffers against carbon emissions, heat, and results underline the irreplaceable role of native geological and ecological features such as urban hills and wetlands in maintaining urban environmental health. As tropical metro cities like Pune expand, sustainable development can only be achieved by leveraging these native assets rather than undermining them,' he study calls for urgent policy interventions, including the protection and restoration of urban hills, wetlands, and riverside green buffers. It advocates for the adoption of ecosystem service valuation models and integrated urban planning frameworks to ensure that future growth is both ecologically balanced and R. M. Chitnis, Vice-Chancellor of MIT-WPU, described the findings as a wake-up call for all rapidly urbanising Indian cities.'Science must guide policy, and sustainability must be central to all development. It is imperative that urban planning prioritizes ecological preservation alongside progress,' he cities across India and the Global South grapple with climate change and urbanization, Pune's experience serves as a critical case study in balancing growth with environmental Watch
The Hindu
06-05-2025
- Business
- The Hindu
MIT-WPU School of Economics and Commerce launches B.Com Financial Analysis Program
The MIT World Peace University (MIT-WPU) has launched its new Financial Analysis program, with the CFA Institute delegation in attendance. The ceremony highlighted collaborative plans to integrate financial curriculum into the university's academic programs. This aims to equip students with the skills required for successful careers in the global finance sector. Under the newly launched Financial Analysis program, MIT-WPU will offer on-campus training for the CFA Level I and II examinations, integrating them directly into the curriculum. In the first year, students will also have the opportunity to pursue the Investment Foundations Certificate from CFA Institute. This certificate will provide them with an understanding of the investment industry, including its structure, core concepts, and ethical considerations. Dr. R. M. Chitnis, Vice Chancellor, MIT-WPU, said, 'CA, CS, and CMA are professional courses in India, focused on auditing, taxation, and legal compliance, authorised under Acts of Parliament. In contrast, the CFA is a global qualification that supports companies in finance and investment banking, representing a distinct domain. Students who pursue these professional degrees alongside the CFA qualification will gain a significant competitive advantage in the fast-evolving world of finance.' Dr. Anjali Sane, Dean of the School of Economics and Commerce at MIT-WPU, said, ' With the launch of the Financial Analysis program, we had the opportunity to engage in insightful discussions on emerging trends in the investment industry. Our focus has been on building a curriculum that meets global industry standards and empowers students with the skills needed to thrive in the world of finance.'
