The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
India, the biggest contributor to world demand for oil, will bring into effect in an overhaul of its drilling policy. This comes after more than a year of preparation and will boost the exploration and development of India's oil and gas sector along with increased participation by foreign drillers
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
The Delhi government is embroiled in multiple litigations with the Lieutenant Governor in the Supreme Court including its plea challenging the Centre's law establishing pre-eminence of the LG over the elected dispensation in controlling services in the national capital.
In the last 11 years, India and the world witnessed what he stood for, what he promised and did not deliver, and what he actually stood for and practised without fearing how history would judge him. Modi's tenure has been punctuated with headline-grabbing decisions, symbolic gestures, and stage-managed moments that continue to define his leadership and India's politics, points out Ramesh Menon.
External Affairs Minister S Jaishankar says Operation Sindoor conveyed India's resolve to act against terrorism, following UN Security Council's call to bring Pahalgam attackers to justice.
'The quality of justice is directly linked to the quality of judges -- if that suffers, justice delivery suffers.'
Amid differences among allies, the government today deferred a decision on the changes in the crucial Pension Fund Regulatory and Development Authority Bill, 2011.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
Finance Minister Pranab Mukherjee on Monday held a meeting with senior BJP leaders L K Advani, Sushma Swaraj and Yashwant Sinha to discuss these two legislations.
Faced with a deadlock over the Pension Fund Regulatory and Development Authority Bill due to stiff opposition from the Left parties, the government is contemplating to bring a separate Bill on pension funds for private sector employees.
Under the NPS, every subscriber will have an individual pension account, which will be portable across job changes.
India's bid to host the 2036 Olympics is not merely an attempt to make a statement internationally but also a well thought out plan to create world-class infrastructure, said Minister of State for Sports Raksha Khadse.
The proposed PFRDA bill, aimed at setting up a regulator and manage a new pension system, will not allow pension schemes to invest their money in individual stocks.
Bowing to the pressure of Left parties, the government on Wednesday referred the Pension Fund Regulatory and Development Authority Bill to Parliamentary Standing Committee on Finance.
After years of waiting, finally there seems to be hope for the passage of the Pension Fund Regulatory and Development Authority Bill, thanks to the Left's withdrawal of support from the government. The passing of the Bill will provide statutory backing to the regulatory agency, enabling it to issue guidelines and allow non-government employees to save for the long-term. PFRDA Chairman D Swarup spoke to Business Standard about the issues involved.
The pension bill is listed in the name of Finance Minister Pranab Mukherjee in the agenda papers of the Lok Sabha for Wednesday.
Expanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law. The authorities are learnt to have questioned the car dealers to explain the services they provided general insurance companies. The investigators suspect car dealers pitched for insurance schemes that give them commissions in excess of those insurance regulations permit.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Fresh differences have arisen between the government and the Left parties over pension reforms that may indefinitely stall the Pension Funds Regulatory and Development Authority Bill.
AAP leader and Delhi minister Atishi made the allegations against the agency at a press conference and called the entire probe a "scam" in itself.
The Maharashtra legislative assembly on Friday passed a bill empowering local tree authorities to allow the felling of all types of trees without referring matters to the State Tree Authority.
The government is likely to propose a penalty of up to Rs 500 crore for violating provisions of the Digital India Bill, according to sources. Under the proposed bill, the Centre may authorise any government agency to monitor and collect traffic data generated, transmitted, received or stored in any digital system to enhance cyber security. It also aims to identify, analyse and prevent intrusion or spread of malware or virus.
The Pension Fund Regulatory and Development Authority Bill, 2011, provides for market based returns and wide coverage based on several investment options in the pension sector with an aim to building confidence in the subscribers.
The Kerala police were the most sensitised to the rights of those arrested while that of Jharkhand and Gujarat the least.
Former Rajasthan minister Rajendra Singh Gudha claimed that Congress leaders dragged him out of the state assembly on Monday.
The Rajya Sabha on Tuesday gave its green light to the Multi-State Cooperative Societies (Amendment) Bill 2023. This Bill introduces significant amendments to the Multi-State Cooperative Societies (MSCS) Act. These modifications aim to enhance the transparency and accountability of these cooperatives' operations in a bid to improve governance.
Sarma said his government was looking forward to the legislation on the Uniform Civil Code, which will be considered during a special four-day session of the Uttarakhand assembly that is starting from February 5.
Customers frequently sign without reading the terms and conditions, resulting in a poor understanding of coverage, and eventually leading to partial payouts
The founder of KIIT, Achyuta Samanta, and other top officials of the private engineering college were questioned by a government committee about the alleged suicide of a Nepalese girl in her hostel and the assault on students of her country. The incident sparked outrage in the Odisha Assembly, with opposition members demanding a judicial inquiry. Samanta was questioned for two hours, along with the institute's Vice-Chancellor, Registrar, Dean, and two suspended women officials. The committee is investigating the circumstances surrounding the student's suicide, the alleged high-handedness of the institute's administration, and the decision to suspend specific students and shut down the institute for them. The Odisha government has assured Nepalese students that it will cover their travel expenses, arrange remedial classes, and reschedule their mid-semester examinations if necessary.
Abuse of power, financial misconduct, and the never-ending turf wars are now coming to light as Boxing Federation of India's officials jostle to escape blame for the shocking turn of events.
In a lengthy statement on X late Monday night, a defiant Kamra said those busy leaking his number on social media or calling him incessantly should know that it all goes to his voicemail where they will be subjected to "the very song" that they hate.
Inaugurating the 'Janganana Bhawan', the office of the Registrar General and Census Commissioner of India, Shah said census is a process that may form the basis of development agenda.
Tharoor argued that the proposed bill represents a "grave chapter in the history of the Indian republic, seeking to ratify an ordinance that in many ways is an assault on our democratic heritage and the spirit of federalism."
Over the medium and long term, the BJP hopes to devour the AIADMK, they having identified the party as 'ideologically not as sound as the DMK', predicts N Sathiya Moorthy.
Parliament on Monday approved a legislation to set up the Railway Land Development Authority to commercially utilise the vast vacant railway land across the country.
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