As Union Budget 2026 approaches, India's fiscal policies face global challenges. Key expectations include GST reforms for working capital relief, Customs duty rationalization, and dispute resolution schemes to enhance competitiveness.
Income Tax department raids at 40 locations in Jharkhand and Bihar uncover ₹1.20 crore unaccounted cash from rice millers Yogesh Sahu and Gyan Sahu. Assessment of properties and stocks continues.
As the Union Budget 2026 approaches, taxpayers anticipate measures to ease the transition to the new Income-tax Act, 2025. Key expectations include simplified compliance, digital enhancements, and relief for lower-income households amid this major tax ove
A Mumbai writer reflects on paying 35% tax while facing sewage-contaminated water, questioning the returns on high taxation in Indian democracy.
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As Budget 2026 approaches, taxpayers anticipate income tax relief. Experts suggest limited changes, focusing on rationalization, TDS adjustments, and standard deduction increases rather than major cuts.
Seven years after GST implementation, India's indirect tax system shows steady revenue growth and improved compliance, though state-level variations persist based on economic structure and digitization.
Punjab taxation department conducted a statewide enforcement campaign, detaining 141 vehicles for verification. Focus was on iron and steel trade hubs with suspected tax evasion through invoice-less movements and GST misuse.
Income-tax department conducted search operations at residential and business premises of rice traders in Gaya and Aurangabad, investigating alleged financial irregularities and disproportionate assets.
Income Tax department conducts raids on 40 premises of Baba Agro Food Limited and Baba Food Processing India Limited in Jharkhand and Bihar, suspecting massive tax evasion. Over 450 personnel involved.
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Andhra Pradesh witnesses a sharp decline in branded cigarette availability as retailers struggle with restricted supplies ahead of the February 2026 tobacco tax overhaul, leading to price hikes and grey-market surge.
As more middle-class Indians invest in stocks, mutual funds, and real estate, tax experts urge the government to simplify long-term capital gains rules in the upcoming budget. Key demands include rationalizing asset classifications, easing loss set-off pr
The Coaching Federation of India has requested Finance Minister Nirmala Sitharaman to reduce GST on coaching services to 5% or exempt them completely, citing increased costs for parents and challenges for small centers.
The Federation of Coaching Institutes has formally requested Finance Minister Nirmala Sitharaman to lower GST on coaching services from 18% to 5% or nil, arguing the current rate unfairly burdens parents and students.
India's Economic Survey 2025-26 reveals a major shift in tax strategy with the NUDGE framework, using behavioral interventions to improve compliance and revenue collection through gentle prompts rather than enforcement.
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Gold prices reached a new record high of $5,591.16 per ounce, while silver climbed to $119.34, driven by safe-haven demand, Fed policy, and geopolitical tensions.
Ahmedabad faces severe tobacco product shortages as retailers hoard stock ahead of February 1 tax changes. Black market activity surges with inflated prices hitting consumers hard across the city.
Income Tax Department conducts major searches at 15 locations linked to a Surat-based diamond manufacturer and real estate developer, investigating undisclosed earnings and political connections.
Budget 2026 may not bring income tax relief, but experts suggest alternative tax measures to help Indians. Focus shifts to growth-oriented policies after last budget's tax cuts.
CRISIL Ratings predicts a 3-5% drop in cigarette volumes in India as a new GST compensation cess takes effect, impacting major tobacco companies and government revenue.
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Recent rulings in Binny Bansal and Tiger Global cases show tax authorities demand real overseas substance for non-resident status, not just day counts or paper relocations, impacting NRI tax planning.
Small business owners in Hyderabad urge Centre for GST reduction on essentials in Union Budget 2026-27, citing shrinking margins and slowing consumer demand due to high procurement costs.
DGGI Ahmedabad uncovers two major fake billing rackets involving Rs 262 crore, arresting three individuals. The fraud involved fictitious firms and complex hawala transactions across multiple states.
In a significant development, Deputy GST Commissioner Prashant Kumar from Ayodhya has submitted his resignation, expressing solidarity with the Uttar Pradesh government's policies and administrative direction.
India's Global Capability Centres face transfer pricing challenges. Budget 2026 must reform Safe Harbour Rules to enhance competitiveness and attract foreign investment.
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Finance Minister Nirmala Sitharaman will present Union Budget 2026 on February 1. Taxpayers hope for income tax cuts, higher standard deduction, and TDS rationalization, following last year's reforms that benefited the middle class.
India's duty-free baggage allowance, last updated in 2016, fails to account for significant price inflation over the past decade, creating challenges for international passengers navigating customs procedures.
As the Union Budget 2026 approaches, expectations for major tax giveaways remain muted. The government is likely to balance growth, fiscal discipline, and reforms in a challenging economic environment, with limited room for tax relief but potential for si
Analysis of how India's new income tax regime has evolved since 2020, offering significant savings compared to old system. Tax slabs, exemptions, and Budget 2025 implications explained.
DGGI arrests three individuals in Ahmedabad for massive fake billing operations involving fraudulent Input Tax Credit claims exceeding Rs 262 crore across multiple sectors including iron, steel, and construction.
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India's duty-free baggage allowance, last updated in 2016 at Rs 50,000, has lost purchasing power due to inflation and currency depreciation, creating difficulties for travelers. Experts call for increasing it to Rs 1,00,000 to match current economic real
