A significant fire broke out in the basement of the seven-storey Income Tax Office building at Churchgate, South Mumbai, on Monday afternoon, leading to the evacuation of numerous individuals, with no casualties reported so far.
Finance Minister Nirmala Sitharaman has urged income tax authorities to significantly accelerate the adjudication of taxpayer appeals.
Finance Minister Nirmala Sitharaman announced that the Goods and Services Tax (GST) Council's October 7 meeting will focus on 'GST 2.0' process reforms, including e-invoicing and input tax credit rules, while also addressing complex issues surrounding the taxation of the digital economy and cryptocurrency.
The Central Board of Direct Taxes (CBDT) has released a 198-page guidance note to assist crypto-asset service providers in complying with reporting obligations under the Income-tax Act, 2025, aligning India with the OECD's Crypto-Asset Reporting Framework (Carf) for automatic exchange of tax information.
We raid restaurants for cockroaches but never raid the roadside. Public hygiene runs entirely on faith and fumes. Even after so many years of being a free nation, points out Binu Alex.
The data may include details of foreign bank accounts, investment accounts, certain financial investments, interest income, dividends and other specified financial income held by Indian tax residents abroad.
A fire broke out on the sixth floor of the IncomeTaxBuilding in Marine Lines area in south Mumbai tonight but there were no report of casualties.
A senior tax assistant in the Income Tax department was sentenced to six months in jail and fined Rs 4000 in a bribery case by a special CBI court in Thane.
'Users should protect their savings goals before allocating money to discretionary expenditure.'
Urban Indian millennials are caught in an algorithmically amplified consumption spiral where social media normalises spending patterns that systematically undermine retirement security.
The cabinet also gave its nod to a proposal to amend the Madhya Pradesh Minister (Salary and Allowance) Amendment Bill, 2024, and make a provision for state ministers to deposit their income tax instead of the government bearing such burden.
As India marks a decade of the Goods and Services Tax (GST), the focus is shifting towards enhancing efficiency through artificial intelligence, data sharing, and process simplification. The reform, which unified India's indirect tax system, has significantly broadened the tax base and boosted revenues, with future plans including a streamlined two-tier rate structure and continued technological integration to reduce compliance costs and combat evasion.
States could then stop complaining about the Centre and fashion their own economic destinies, says T C A Srinivasa Raghavan.
According to a police officer, the fire started in the office of the Commissioner in room number 325 on the third floor of the building. He said many of the employees were outside the building as it was lunchtime, otherwise, the casualty could have been more.
'Government's focus should be on the expenditure side in this Budget, not so much on the taxation side.'
Rajya Sabha proceedings were adjourned following an uproar over an alleged derogatory 'lungiwala' remark made by BJP MP Sushmita Dev against CPI(M)'s John Brittas, who had moved a privilege motion. Dev denied the accusation, stating she had not cast aspersions on any state's attire.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Retirement planning is not a test of how smart you are; it is a test of how well you control your behaviour.
Tax benefits can be claimed on both the principal and interest components of the home loan as per the Income Tax Act. These deductions are available to assesses, who have taken a loan to either buy or build a house.
Infosys, India's second-largest IT services firm, has appointed company veteran Ashiss Kumar Dash as CEO designate, with the leadership transition scheduled for April 1, 2027, after current CEO Salil Parekh completes his second term.
The Income Tax authorities have left the offices of the BBC in New Delhi and Mumbai after three days of lengthy questioning of some of its staff, the United Kingdom-headquartered public broadcaster said on Thursday.
Behind the aesthetics of an entrepreneurial lifestyle lies a silent financial crisis that nobody is talking about: Freelancers are sprinting toward a retirement brick wall.
'Improved law and order and transparent governance have helped change UP's investment image.'
An employee whose financial future is 60-80 per cent dependent on a single company's growth trajectory has no genuine safety net.
Lodha Developers plans to generate approximately 10,000 crore in sales over the next three to four years by monetising about 150 acres of land at its data centre park in Palava, part of the Mumbai metropolitan region (MMR). This strategy is a planned recurring pillar of their business, funding the build-out of 1 gigawatt of powered shell capacity and aiming for over 2,000 crore in annual rental income by FY32.
TVS Motor Company reported a significant 56.8 per cent year-on-year increase in net profit to 1,036 crore in Q1FY27, driven by record sales volumes, an improved product mix, and robust demand in both domestic and international markets, with management anticipating continued double-digit industry growth.
N Chandrasekaran, chairman of Tata Consumer Products (TCPL), stated that India continues to experience credible economic growth, driven by strong demographic fundamentals and accelerating digital public infrastructure, despite a fragmented global landscape.
In a pre-Budget wishlist, Vinod Juneja, managing director, Braj Binani Group, said, "I expect the finance minister to target the GDP growth of at least 8% or higher for the next 3 financial years."
With filing possible only online, there is no scope for any error.
'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not
'Every period of excessive optimism eventually gives way to a correction, while periods of extreme pessimism often create the best investment opportunities.'
A cross-country comparison shows that India currently has the lowest number of taxpayers.
The Central Information Commission will seek a report from Income Tax department and Directorate of Estate regarding tax exemptions claimed by political parties and their assets to ascertain whether there is enough indirect funding from the government to bring them under the ambit of RTI Act.
Of course, NOT! Here's why. And here's how you can increase your Rs 1 crore retirement corpus.
While the new income tax law replaces the Income Tax Act, 1961 and omits 13 offences, 35 actions and omissions continue to attract criminal liability under 13 provisions.
Traders were producing fake purchase and sale billing receipts and also availing multiple loans on one consignment.
Washington Governor Bob Ferguson declared a statewide state of emergency and burn ban Saturday morning as an unprecedented wildfire crisis gripped the region, with active blazes scorching nearly 3,000 acres.
Education sector experts agree that using the "best technology" was essential to ensure students did not have to sit for an examination all over again because of a question paper leak.
The 2026-27 Budget, seeking to harmonise the government's imperative to grant certainty while ensuring a rational tax policy, had several notable announcements to usher in halcyon days, says Mukesh Butani.
