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.
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
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Income Tax Department's week-long search on Nagpur supari traders uncovers Rs 5 crore cash, 1kg gold, and evidence of large-scale off-book transactions and sales suppression.
Explore how India's tax system is evolving towards automated ITR filing with pre-filled forms, AIS/TIS statements, and digital verification, while addressing challenges for full automation.
Jaipur traders challenge JMC's UD tax notices for shops under 100 sq yards, citing exemptions. JMC Commissioner assures verification and on-site resolution camps.
Income Tax department's search operation in Ahmedabad continues for third day, targeting real estate groups suspected of accepting cash payments. Over 100 officials involved.
As India prepares to implement the Income Tax Act, 2025 from April 2026, Budget 2026 must focus on compliance, digital infrastructure, and dispute resolution rather than tax cuts.
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Uttar Pradesh STF uncovers massive GST fraud involving over 100 shell companies, arrests kingpin in Delhi. Racket used job-seekers' documents to generate fake invoices worth Rs 248 crore.
With TDS contributing 42% of India's tax revenue, Budget 2026 must simplify the complex withholding system to ease cash flow pressures and compliance burdens for businesses.
The Institute of Chartered Accountants of India has proposed allowing married couples to combine incomes and file single tax returns in Union Budget 2026 to provide relief to single-income families.
The Centre has implemented key direct tax reforms announced in recent budgets, including changes for AIFs, startups, and individuals to enhance investment certainty and reduce compliance burdens.
The US secured a carveout from the OECD's global minimum tax framework, allowing its largest companies to use domestic rules instead of the 15% rate. This move tests international consensus on curbing corporate tax avoidance and has implications for India
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Taxpayers await Budget 2026 for potential standard deduction increase in new tax regime. Experts debate hike feasibility amid inflation concerns and fiscal constraints.
The Supreme Court ruled against Tiger Global, stating treaty benefits aren't automatic. The court found the Mauritius investment structure lacked commercial substance and was designed for tax avoidance.
Explore the concept of sin tax in India's Union Budget 2026. Learn how this substantial levy on tobacco, alcohol, and gambling aims to discourage consumption and influence public health policy.
A proposal suggests shifting GST payments to quarterly cycles for small businesses to align tax outflows with actual cash inflows, addressing working capital challenges.
A daily-wage labourer from Uttar Pradesh's Hardoi district received a shocking ₹7.15 crore income tax notice. The IT department says it has no record of issuing such a notice to the poor villager.
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Gold and silver prices surged to unprecedented levels on Monday, driven by safe-haven demand amid geopolitical tensions and trade uncertainties.
Delhi Police's Economic Offences Wing investigates seven GST fraud cases totaling Rs 374 crore, where scammers used stolen identities to create dummy companies for financial transactions.
Delhi High Court cancels 2016 income tax reassessment notices against NDTV founders Prannoy Roy and Radhika Roy concerning interest-free loans from promoter entity.
Learn how Indian residents can gift money to NRI daughters-in-law without tax implications. Understand documentation, transfer modes, and clubbing provisions under Indian tax law.
As Budget 2026 approaches, taxpayers hope for simpler compliance, clearer rules, and fairer treatment. Here are five practical changes that could make India's tax system more humane and efficient.
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Gold and silver prices surged to all-time highs in international markets on Monday, driven by safe-haven buying as global trade tensions escalate. Spot gold rose 1.6% to $4,670.01 per ounce, while silver spiked 4.4% to $93.85 per ounce.
The Supreme Court's decision on Tiger Global's Flipkart stake sale tax liability raises concerns about retrospective taxation and foreign investment climate in India.
Deloitte India's Tarun Garg expects Budget 2026 to offer healthcare deductions for seniors, possible interest income relief, and tweaks to standard deduction, focusing on fine-tuning rather than major reforms.
Deloitte's ED Garg suggests targeted tax measures in Budget 2026 could provide relief for senior citizens, potentially easing their financial burden in India.
Income Tax officials conducted a rare weekend raid on areca nut traders in Nagpur, seizing ₹2.5 crore cash and scrutinizing gold jewelry. Multiple agencies may join the investigation.
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The Indian government plans to reopen tax assessment against Tiger Global's Flipkart stake sale, but will proceed carefully respecting appeal rights. The case involves ₹14,500 crore capital gains.
