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After racking up $59 billion of net debt to survive a brutal war in the world’s second-biggest phone-services market, some of India’s billionaires are bracing for more as their next battle looms: 5G. India seeks to raise $84 billion this year from a sale of airwaves -- most of it for the latest technology tipped to revolutionize connectivity -- posing a conundrum for the carriers controlled by tycoons including Mukesh Ambani, Asia’s wealthiest man. Investment would mean more borrowings, but the reward could be revenue streams never seen before. Operators may soon decide how much more pain they can endure for a high-speed wireless network that can offer better user experience in streaming, gaming and entertainment in a market where Netflix Inc. to Online Shopping for Electronics, Apparel, Computers, Books, DVDs & more Inc. are making inroads. With applications ranging from manufacturing to education and health care, 5G could be the catalyst for India’s digital economy that has...

The Income Tax Department on Monday extended the deadline for e-filing income tax returns by five days till August 5 after complaints were received that assessees were not able to submit returns. Besides, the department also eased the time frame for linking of PAN with Aadhaar to August 31. In the meantime, the assessees can simply quote Aadhaar number or acknowledgement number of application for Aadhaar. "In view of the difficulties faced by taxpayers, date for e-filing of Income Tax returns for FY 2016-17 has been extended to 5th August, 2017," the department tweeted. The last minute inundation and heavy logging on the official website of the e-filing portal of the department led to the extension. Assessees, particularly those have some discrepancies in the name or year of birth or any other data between their Aadhar and PAN cards, were not able to submit returns. Besides, the site was also reported to be crashed in between. "Some people for whom PAN and...