From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
Gujarat ATS intercepts a large silver consignment worth 5 crore at Rajkot Airport, suspecting tax evasion.
India's gross GST collections increased by 3.2 per cent to over Rs 1.94 lakh crore in May, driven by improved supplies of goods and services and a continued expansion in collections from imports.
Recent changes to tax exemptions and allowances, including increased education, hostel, and HRA limits, have made the old tax regime more competitive against the new regime, prompting salaried employees to re-evaluate their choice for the current financial year.
Businesses may eventually have to file returns largely based on invoices uploaded by suppliers, with limited scope for manual changes.
Despite the Centre's GST 2.0 guidelines aiming to facilitate provisional refunds within seven days for low-risk cases, many large taxpayers are still encountering significant delays in obtaining Goods and Services Tax (GST) refunds under the inverted duty structure (IDS), with experts citing inconsistent state-level scrutiny and subjective interpretations.
Prime Minister Narendra Modi has strongly refuted a media report suggesting the government is considering levying a tax, cess, or surcharge on foreign travel, calling the news "totally false".
IDFC First Bank has integrated with ICEGATE 2.0 to enable digital payment of customs duty, central excise, and service tax for its customers.
Maruti Suzuki Chairman R C Bhargava is pushing for increased government incentives for biogas-powered vehicles over hybrids, emphasising their net-zero carbon emissions and the valuable organic manure they produce, while also advocating for continued GST benefits for electric vehicles.
India's like-for-like gross Goods and Services Tax (GST) revenue growth slowed to a five-year low of 5.57 per cent in FY26, reaching Rs 23.32 trillion, primarily driven by a significant surge in import revenues.
India's gross Goods and Services Tax (GST) collection reached an unprecedented Rs 2.43 lakh crore in April, marking an 8.7 per cent increase and surpassing the previous record set last year.
162 officials of the Trade and Taxes department in Delhi, including three assistant commissioners, were transferred after Delhi Chief Minister Rekha Gupta discovered 'serious irregularities' during a surprise visit.
DBS Bank India has launched a direct tax payment facility after authorisation from the Central Board of Direct Taxes (CBDT). Utkarsh Small Finance Bank partners with Mumbai Indians as banking partner for T20 League 2026.
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
A farmer in Budaun, Uttar Pradesh, received tax notices for Rs 14.66 crore due to a fraudulent firm operating in his name in Delhi, prompting an official investigation.
The Indian central government has reduced its total expenditure by approximately 60,000 crore in FY26, below its revised estimate, to successfully achieve the fiscal deficit target of 4.4 per cent of gross domestic product (GDP), according to the latest data from the Controller General of Accounts (CGA).
ServiceNow Vice Chairman Nick Tzitzon highlights India's potential to develop an AI-native government model, emphasising enhanced public services, data privacy, and economic growth.
A farmer in Uttar Pradesh, India, was shocked to receive tax notices for millions of rupees due to a fraudulent firm operating under his name in Delhi. An investigation has been launched to address the identity theft and tax evasion.
The Indian government has marginally exceeded its indirect tax collection target for fiscal year 2025-26, with strong performances in customs, excise, and GST revenues.
'There has to be a safe harbour for licensed entities, which have followed all the norms prescribed by the RBI.'
rediffGURU T S Khurana answers readers' personal income tax queries
Uttarakhand GST officials conducted an elaborate undercover operation, creating fake firms to expose a company evading over Rs 150 crore in taxes.
Kumar Mangalam Birla urged young people to 'build in India, build for India and build for the world'.
Major life insurers in India reported close to double-digit growth in the value of new business (VNB) last financial year, primarily driven by increased sales of high-margin protection and non-participating (non-par) products.
ITC reported a 6.1 per cent year-on-year growth in its consolidated adjusted net profit from continuing operations, reaching ~5,469.74 crore in the January-March quarter (Q4FY26), primarily fuelled by strong performances in its cigarettes and non-cigarette fast-moving consumer goods (FMCG) businesses.
Nomura has increased its March 2027 target for the Nifty 50 to 25,900, driven by strong corporate earnings and attractive market valuations, even as risks from the West Asia conflict and high oil prices persist.
Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
The Commercial Taxes Department has arrested Mohammed Tauqeer for his involvement in generating and routing fraudulent ITC across multiple states, unearthing a GST fraud worth Rs 410 crore.
"There is a sharp jump that we have seen in bookings of EVs... The jump, at least in our case, in just two months, it is about 2 to 2.5 times of what it used to be"
ICICI Bank has received a demand notice of 768.6 crore from tax authorities for alleged short payment of GST, related to services provided to customers maintaining minimum balances.
Indian cement manufacturers, despite a stable Q4FY26, are bracing for significant profitability pressures from Q1FY27 onwards due to escalating input costs, primarily driven by the West Asia conflict's impact on coal and petcoke prices.
'The software vendor had a black mark against him and yet they went ahead with him. Why was this company shortlisted? Who is responsible for signing off this software?'
The post-mortem report of a senior IRS officer's daughter, who was murdered in her Delhi residence, reveals strangulation as the cause of death, along with multiple injuries indicating a struggle and assault. A former domestic help has been arrested in connection with the crime.
The Karnataka State Cyber Command has uncovered a fake call centre racket operating in Bengaluru, where individuals impersonated a US-based accounting firm to defraud US citizens.
The Supreme Court has said that selling land or property is not a service under the Finance Act, 1994, so such sales cannot be charged with service tax.
Indian benchmark indices Sensex and Nifty closed marginally lower due to profit-taking, following the Reserve Bank of India's decision to keep the repo rate unchanged while lowering its growth expectations for the current fiscal year and forecasting higher inflation.
Indian insurance companies are bracing for reduced profitability in Q4FY26, primarily due to the rationalisation of GST on retail life and health policies, leading to a loss of input tax credit, coupled with volatility in equity markets impacting investment income.
LAMF allows investors to access liquidity while staying invested.
India's economy registered a robust 7.7 per cent growth in the fiscal year 2025-26, an increase from 7.1 per cent in the previous year, with the January-March quarter alone seeing a 7.8 per cent expansion.
Despite reporting a weaker-than-expected net loss of Rs 2,536 crore for Q4FY26, largely due to a significant non-cash forex loss, analysts remain optimistic about IndiGo's long-term prospects, citing strong demand trends, a favourable pricing outlook, and strategic cost-control measures.
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