Income Tax department raids on Baba Group of Industries and rice traders in Jharkhand and Bihar have uncovered undisclosed income exceeding Rs 80 crore, with seizures including cash, jewellery, and properties.
The FY27 Union Budget introduces measures to make India's tax system more predictable and less confrontational. Key changes include extended return revision deadlines, simplified assessment procedures, and relaxed safe harbour norms for multinationals.
Andhra Pradesh records GST collections of Rs 672 crore in January 2026, reflecting economic activity and tax compliance in the state.
The Finance Bill 2025 proposes aligning the due date for claiming deductions on employee PF and ESI contributions with the employer's income-tax return filing deadline, offering relief from rigid compliance timelines.
Revenue Secretary Sanjay Malhotra highlights recent direct tax reforms aimed at simplifying compliance, enabling better liability management, and reducing disputes for taxpayers in India.
The finance bill introduces calibrated block periods for third parties in search cases and standardizes limitation timelines, aiming to reduce compliance burdens and enhance procedural predictability in tax assessments.
India's income tax system now defaults to the new regime with lower rates but fewer exemptions, while the old regime continues with deductions like HRA, LTA, and housing loan interest.
The finance bill proposes statutory backing for CBDT guidelines, making them binding on taxpayers for tax deduction and collection, reducing disputes but limiting flexibility.
India's Budget introduces major transfer pricing reforms, consolidating IT services under a 15.5% safe harbour margin and fast-tracking APAs to reduce disputes and attract MNCs.
The Union Budget 2026 introduces a new animal import tax that will significantly impact zoos and wildlife rehabilitation centres across India, including Anant Ambani's facility.
Finance Minister Nirmala Sitharaman's Budget 2026 introduces sweeping income tax reforms through the new Income Tax Act, 2025, affecting taxpayers across all categories with changes in TCS, return filing, crypto reporting, and more.
Cigarette prices surge significantly after February 1 excise duty hike. Classic Connect now costs ₹350, Gold Flake Lights and Wills Classic ₹225 per pack. Details on new tax structure and industry impact.
The Indian government proposes GST changes for intermediary services like stockbroking, making exports zero-rated for FPIs, alongside an STT hike to curb derivatives speculation.
Union Budget 2026 proposes to eliminate tax deduction on interest paid for loans used to invest in dividend-paying stocks or mutual funds, impacting leveraged investment strategies.
Union Budget 2026 emphasizes tax clarity, simplicity, and certainty over rate changes. Key proposals include extended tax holidays for GIFT City, reforms in share buy-back taxation, and rationalization of MAT framework to attract FDI.
India's Union Budget 2026-27 introduces significant tax reforms including changes to buyback taxation, MAT rates, and compliance procedures while focusing on economic growth through digital infrastructure and manufacturing missions.
Union Budget 2026-27 brings significant customs duty revisions affecting personal imports. Luxury watches, electronics get costlier while cancer drugs, laptops see duty cuts. Gold jewelry allowance increased, microwave ovens cheaper.
Finance Minister's Budget 2026 introduces key transfer pricing measures to attract Global Capability Centres, expanding safe harbour threshold to Rs 2,000 crore and lowering margin to 15.5%.
Analysis of how Finance Commissions from 11th to 16th have shifted criteria for distributing central tax revenues among states, moving from population-based metrics to include GDP contribution and ecological factors.
Income from ULIP redemptions not exempt under Section 10(10D) will be taxed as capital gains, aligning with equity mutual fund rules. Learn about set-off provisions and loss carry-forward.
Union Budget 2026-27 proposes major taxation changes for share buybacks, moving them from dividend taxation to capital gains. Promoters face higher taxes while retail shareholders may benefit with lower or nil tax burdens.
Union Budget 2026 introduces retrospective clarifications on tax reassessment notices and DIN requirements, addressing court conflicts but raising equity concerns among taxpayers and experts.
Starting April 1, the new income tax regime will be the default option for taxpayers, with no changes to existing tax rates. The government aims to simplify tax filing and encourage adoption of the streamlined system.
Union Budget 2026-27 removes income tax exemption on disability pension for defence personnel retiring on superannuation, sparking outrage among veterans who call it unfair discrimination.
The Indian government has increased the duty-free baggage allowance for passengers to Rs 75,000 and reduced customs duty on personal imports to 10%, while maintaining restrictions on specific items.
Union Budget 2026-27 introduces major changes to share buyback taxation, moving from dividend framework to capital gains regime while imposing higher taxes on promoters to prevent misuse.
Union Budget 2026-27 proposes major changes to Minimum Alternate Tax for companies, including rate reduction to 14%, making MAT a final tax under old regime, and new credit adjustment rules to encourage transition to new tax system.
Union Budget 2026-27 rationalizes tax penalty framework, decriminalizes technical defaults, and introduces foreign asset disclosure scheme for small taxpayers to reduce litigation.
Union Budget 2026-27 proposes capital gains tax exemption for Sovereign Gold Bonds only if held from issuance to maturity. Secondary market purchases lose this benefit.
Union Budget 2026-27 proposes capital gains tax exemption on Sovereign Gold Bonds only if subscribed at original issue and held continuously until maturity, effective April 1.