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.
Indian banks anticipate a reduction of up to 50 basis points in their funding costs due to a surge in liquidity from robust Foreign Currency Non-Resident (Bank), or FCNR (B), flows, lessening their reliance on more expensive certificates of deposit (CDs).
Urban Indian millennials are caught in an algorithmically amplified consumption spiral where social media normalises spending patterns that systematically undermine retirement security.
Can your money be protected against online frauds like hacking, digital arrests, etc?
Tax treatment depends on the activity and manner of earning income.
Salaried taxpayers should not use these forms blindly to file their income-tax returns.
Moody's Ratings has sharply increased India's GDP growth forecast for fiscal 2026-27 to 7 per cent, making it the fastest among G20 economies, driven by economic resilience despite the Middle East conflict. However, the agency flagged significant inflation risks stemming from elevated oil prices and potential El Nino disruptions.
Education loan defaults carry serious consequences. Credit bureaus record missed payments against both the student and the co-borrower, usually a parent.
'Since the category has a limited track record, assess the fund manager's experience across equity and debt market cycles rather than relying only on past returns.'
It is important to understand that the rupee's appreciation, driven by the 2013 special swap scheme, reduced India's import costs for petroleum, oil, and gold, points out Dr Ashwani Mahajan, National Co-Convenor, Swadeshi Jagaran Manch.
The Delhi government has notified detailed guidelines for the Delhi Lakshmi Yojana, outlining strict provisions for beneficiaries found ineligible, including discontinuation of financial assistance, recovery of disbursed funds, and potential fraud charges. The scheme provides Rs 2,500 monthly to eligible women, with specific rules for fund disbursement via RD/FD accounts and CBDC wallets, along with clear eligibility and exclusion criteria.
Meerut police have uncovered a Goods and Services Tax (GST) fraud involving crores of rupees, leading to the arrest of one individual. The investigation revealed a network of fake firms used to illegally claim input tax credits, causing significant losses to the government.
The National Payments Corporation of India (NPCI) stated that the Merchant Discount Rate (MDR) "is distributed only amongst the UPI ecosystem, to further invest into infrastructure resilience, innovation, cybersecurity (protecting the UPI infrastructure with banks and non-banks) and customer service."
The government is introducing a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant payments above Rs 2,000, effective October 15. This move ends the zero-MDR regime, aiming to fund UPI infrastructure and sustainability, as the previous government subsidy was insufficient to cover operational costs. Payments between individuals and most everyday merchant transactions will remain free.
'You have to get private investment to somewhere between 35% to 36% of GDP. It is hovering about 30%-31%.'
Uttarakhand GST officials conducted an elaborate undercover operation, creating fake firms to expose a company evading over Rs 150 crore in taxes.
A data breach does not end when the headlines fade. For victims, stolen personal information can fuel fraud, identity theft and financial losses for years.
Bajaj Finance reported a strong Q1 FY27 performance with 24 per cent year-on-year AUM growth and a 28 per cent rise in consolidated profit after tax, driven by significant increases in consumer financing, gold loans, and commercial vehicle loans, alongside a strategic focus on digital transformation and AI.
Agra has long been known for the Taj Mahal, but it is also a manufacturing hub filled with micro, small and medium enterprises (MSMEs) that make everything from electronic components to metal products, from paints and chemicals to footwear. And five years after the introduction of the Goods and Services Tax (GST), the MSMEs here complain that while the indirect tax regime has been transformative, cutting out the need to file multiple taxes, its biggest drawback has been the delay in credit refunds. Whoever you speak to - MSME owners, tax lawyers, or industry bodies like the National Chambers of Industries and Commerce (NCIC), Agra Footwear Manufacturers and Exporters Chamber (AFMEC) and Agra Shoe Manufacturers Association (ASMA) - they all emphasise that the GST continues to face some key challenges.
CAG recommended fixing a definite time frame for rolling out simplified GST return forms.
'Users should protect their savings goals before allocating money to discretionary expenditure.'
'A balance had to be struck between the economic cost of taking action at this point against the need not to fall behind the curve in controlling inflation and anchoring inflation expectations.'
Investors should do thorough due diligence when selecting a platform.
A savings or current account with no customer-induced transaction for more than 24 months is classified as inoperative.
Fitch Ratings has affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, acknowledging robust growth prospects and strong external finances. However, the agency highlighted concerns over elevated government debt, lagging structural metrics, and potential fiscal spending pressures due to rising youth unemployment.
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.
'Every period of excessive optimism eventually gives way to a correction, while periods of extreme pessimism often create the best investment opportunities.'
'Improved law and order and transparent governance have helped change UP's investment image.'
The Delhi Police's Economic Offences Wing (EOW) has dismantled a GST fraud cartel, arresting six individuals involved in swindling Rs 128 crore through shell companies and fake invoicing.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Hampton Sky Realty Limited, formerly directed by Punjab minister Sanjeev Arora, has issued a statement asserting its innocence and cooperation with authorities following the arrest of Arora in connection with a money laundering probe.
Income Tax department has introduced a new facility this financial year 2009-10 (AY 2010-11) for viewing your tax payments made it is called 'Tax Credit Statement' or PAN LEDGER or Form 26AS.
Businesses may eventually have to file returns largely based on invoices uploaded by suppliers, with limited scope for manual changes.
The Directorate General of GST Intelligence (DGGI) has uncovered a fake input tax credit racket worth approximately 593 crore in Karnataka, leading to the arrest of the alleged mastermind.
Kapil Chugh, accused of masterminding a Rs 1,825 crore GST refund fraud, has been arrested by DGGI officers upon his return from Dubai. He is alleged to have evaded investigation and is wanted in other economic criminal cases.
'Among corporates, about 60% of income is now reported under the new tax regime.'
'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.'
Non-banking financial companies (NBFCs) reported encouraging results for Q4FY26 with improved asset quality and earnings, but analysts maintain a cautious near-term outlook due to geopolitical tensions, monsoon risks, and specific portfolio concerns.
Long-duration bonds allow investors to match investment tenure with long-term liabilities and also stabilise their long-duration portfolios.
