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.
Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty.
During the probe, it was found that Ram Bhawan, a resident of Naraini town in Banda district, had been living in a rented room in Chitrakoot district where the offences were committed, with his wife allegedly assisting him, the agency said.
Transporters across Maharashtra have announced a statewide strike to protest against e-challans and other issues, potentially disrupting transport services including school buses and commercial vehicles.
The Supreme Court has allowed a minor boy, rusticated from an Indore school for circulating an objectionable meme, to appear for his Class 10 examination, directing the CISCE to issue an admit card.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
'Among corporates, about 60% of income is now reported under the new tax regime.'
Sitharaman in her budget speech said that the customs proposal "aim to further simplify the tariff structure, support domestic manufacturing, promote export competitiveness, and correct inversion in duty".
Total pending Customs arrears, including amounts under litigation, court stays and cases where the appeal period has not expired, stood at about Rs 1.36 trillion at the end of December 2024.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
The Union Cabinet on Friday approved 100 per cent foreign direct investment (FDI) in the insurance sector, a move that was welcomed by industry as it would help attract more capital and global expertise, while boosting insurance coverage in the country. A bill to amend the insurance law is likely to be tabled on Monday in Parliament, whose winter session is slated to conclude on December 19.
Officials say the move would simplify an irregular process and some estimates say it could quickly reduce the number of executions by 30 percent.
Finance Minister Nirmala Sitharaman on Tuesday said that raising the FDI limit to 100 per cent in the insurance sector will help attract more capital, improve competition and increase insurance penetration by making policies more affordable.
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
The United Nations has said that the verdict against Bangladesh's ousted prime minister Sheikh Hasina on charges of crimes against humanity is an 'important moment' for the victims, but expressed regret over the imposition of the death penalty.
The Karnataka cabinet has approved eight draft bills, including those addressing hate speech, cattle slaughter, and social boycott, to be tabled in the upcoming legislative session.
After four failed reform drives, a new plan aims to rescue India's debt-laden power discoms through privatisation, accountability and long-term financial fixes.
'IndiGo will receive a sharp rap on the knuckles -- a punishment, a huge penalty. 'I look towards them creating a compensation fund.' 'I would like to think they would do that for all the passengers who are affected on every single day since cancellations began.'
The Himachal Pradesh High Court acquitted one convict and commuted the death sentence of two others to life imprisonment in the 2014 Yug Gupta murder case.
The move offers flexibility in compliance but also places penalties squarely on the designated manager of such a pool.
'IndiGo is fooling the country and the government has succumbed to it.'
Debt-ridden telecom operator Vodafone Idea on Monday said its consolidated net loss narrowed to Rs 5,524 crore in the second quarter ended September compared to the year-ago period, mainly on account of savings in finance cost on debt from banks and an increase in average revenue per user supported by a tariff hike.
In absolute terms, both types of cars must cut emissions by about 28-29 g/km. But in percentage terms, the lighter 900-kg car must reduce emissions by 27 per cent, while the 1,500-kg car needs a 22 per cent cut. And the target becomes progressively stringent for both -- but, once again, the tightening is sharper for the 900-kg car than for the 1500-kg car.
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.
External Affairs Minister S Jaishankar has called on Brazil, Russia, India, China, South Africa (BRICS) to defend the multilateral trading system amid increasing protectionism and tariff volatility during a meeting of the bloc's foreign ministers in New York on the sidelines of the United Nations General Assembly session.
The Supreme Court has stayed the execution of an alleged Indian Mujahideen operative sentenced to death in connection with the 2013 Dilsukhnagar blasts.
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
Defence Procurement Manual 2025 lays down the guiding principles for revenue procurements in the defence ministry worth around 1 trillion in a financial year.
The Jan Vishwas (Amendment of Provisions) Bill 2025, aimed at decriminalizing minor offenses to promote ease of living and business, was introduced in the Lok Sabha and referred to a Select Committee.
The Supreme Court has agreed to reexamine the case of a death row convict punished for raping and killing a minor in 2008, focusing on whether sentencing guidelines were properly followed.
SEBI's blockbuster reforms are rewriting the rules of mutual fund investing -- faster growth, sharper transparency, and smarter safeguards that put investors first, explains Ramalingam Kalirajan.
A Delhi court sentenced former Congress MP Sajjan Kumar to life imprisonment for his role in the murder of two Sikhs during the 1984 anti-Sikh riots. The court cited Kumar's age and illness as mitigating factors in its decision to impose a lesser sentence than the death penalty. Kumar was convicted for being part of a mob that set fire to the victims' home and killed them. This is the second life imprisonment sentence for Kumar in connection with the 1984 riots. He is also facing other charges related to the riots.
'Khalid will have to begin with consistency and with new players and good strikers from U-23 because he has to build for the future.'
'I do believe there will be a resolution in the next couple of months on the penal tariff and hopefully on the reciprocal tariff also.'
A division bench of Justices Revati Mohite Dere and Prithviraj Chavan said it was confirming the death penalty on the convict -- Sunil Kuchkoravi -- and added there was no chance of his reformation. The bench said this was a case of cannibalism and it falls under the rarest of rare category.
Investor sentiment across Asian markets has shifted sharply in August, reveals the latest Bank of America (BofA) Fund Manager Survey, which found global growth expectations retreating after three months of improvement.
In trade negotiations, as in chess, sometimes you need to accept a temporary disadvantage to secure a better long-term position, points out Sonal Varma, chief economist (India and Asia ex-Japan) at Nomura.
India will take all necessary steps to safeguard and promote national interest, Commerce and Industry Minister Piyush Goyal said on Thursday, a day after US President Donald Trump announced 25 per cent tariffs plus penalty on domestic exports to America from August 1.
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
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