Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

Tax Deadline Extended: More Time, More Disclosures

Taxpayers not requiring audits now have until 15 September to file returns for FY 2024-25. The CBDT extended the deadline from 31 July due to significant changes in ITR forms, which now require detailed disclosures on tax-saving investments, capital gains, TDS on non-salary income, and HRA. Experts call the move a relief amid increased compliance.Budget 2025-26 sweetened the deal for middle-class taxpayers, raising the no-tax threshold to ₹12 lakh, and simplifying TDS norms. Direct tax collections hit ₹22.26 trillion, a 13.57% jump, reinforcing India’s push toward a digital-first, transparent tax regime.

North-East India Bags ₹4.32 Trillion in Investments

India’s North-East is emerging as an economic powerhouse. At a recent investment summit, the region attracted ₹4.32 trillion in deals across agriculture, hydropower, IT, tourism, and bamboo. Union minister Jyotiraditya Scindia confirmed that each state is preparing tailored incentive packages and logistics policies.With Guwahati and Agartala poised to become international gateways, and 70% of the India-Myanmar-Thailand highway complete, the region’s 12–13% decadal growth rate is set to soar even higher. Described as India’s ‘Ashta Lakshmi’, the North-East is becoming central to trade, diplomacy, and inclusive growth.

Vodafone Idea Faces Financial Cliff as AGR Relief Denied

Vodafone Idea’s troubles deepen after the Supreme Court rejected its plea for AGR dues relief. Its survival now hinges on whether the ₹6,000 crore in bank guarantees it submitted to the government will be invoked.If the DoT calls in the guarantees, lenders like SBI and PNB will be on the hook—turning those into high-interest loans. With a ₹2 trillion debt pile and limited cash flow, analysts fear this could cripple the already fragile telecom sector.The telco has urged government intervention to avoid a market duopoly, especially since the Centre owns a 49% stake in the company.

CEAT Reroutes US Expansion Amid Trump Tariff Threat

CEAT’s $225 million acquisition of Canadian brand Camso aimed to crack the US tyre market. But Donald Trump’s threat of 44% tariffs on Sri Lankan exports—where Camso manufactures—has thrown a wrench in the works.CEO Arnab Banerjee says the company will now shift US-bound production to India, though that too may face a 26% reciprocal tariff.Despite the uncertainty, CEAT’s stock is up 18% this year, as investors remain bullish on its global expansion. But with nearly one-third of Camso’s revenue coming from the US, analysts say the deal’s long-term value now hangs in the balance.

NMDC Mines Profit, But Faces Price Pressures

Mining major NMDC posted a solid 5% jump in Q4 profit to ₹1,483 crore, with annual net profits rising 17% to ₹6,539 crore, powered by strong iron ore and pellet sales. Revenue for FY25 crossed ₹25,000 crore.Chairman Amitava Mukherjee reiterated the company’s goal of hitting 100 MTPA production in five years, citing visible gains from ongoing initiatives.However, average iron ore prices dipped and JSW Steel—a major client—expects further softness. Despite that, NMDC announced a ₹1 per share dividend, adding to its earlier ₹2.30 payout.Eyes are now on how NMDC sustains growth amid falling ore prices and global demand shifts.