Markets regulator Sebi has notified a stricter regulatory framework for small and medium enterprise (SME) IPOs by introducing a profitability requirement and capping a 20 per cent limit on offer-for-sale (OFS). The reforms aim to provide SMEs with a sound track record an opportunity to raise funds from the public while protecting investor interests. This move follows a rise in SME issues, which has driven significant investor participation.
The Union Budget 2025-26, while promising a new framework for smoother mergers and acquisitions (M&As), has plugged a major loophole on carry-forward losses for a total of eight assessment years between amalgamating company and amalgamated company from the date of loss instead of date of the merger. For all mergers effected on or after April 1, 2025, the losses can be carried forward only for the residuary period (counting from the date of loss).
Jailed journalist Mahesh Langa, already facing multiple charges, has been booked in a fresh case for allegedly extorting Rs 40 lakh from a real estate agent by threatening to malign his image and implicate him in a false case. This is the fifth FIR registered against him since his arrest in October 2023 for an alleged Goods and Services Tax (GST) scam. The latest case was registered based on a complaint by Janak Thakor, a real estate agent, who alleged that Langa threatened to write negative articles about him and trap him in a false case unless he paid the money. Langa has been in jail since his arrest in October and is facing charges in four previous cases registered by Ahmedabad, Gandhinagar, and Rajkot police.
From the Sensex basket, Tata Motors, State Bank of India, Tata Steel, Power Grid, NTPC, Bajaj Finserv, Bajaj Finance and Asian Paints were the major laggards.
The upcoming Delhi Assembly elections have turned into a fierce battleground of slogans, one-liners, and AI-generated memes between the three main contenders: AAP, BJP, and Congress. From the AAP branding the BJP as the "Bharatiya Jhootha Party" (Indian Liar Party) to Prime Minister Narendra Modi calling the AAP "AAP-Daa" (disaster), the war of words has taken center stage. With the poll results set to be announced on February 8, the elections are being viewed as a referendum on the AAP's governance model, which emphasizes free welfare schemes. The ruling party faces stiff competition from a resurgent BJP that is seeking to return to power in the capital after a gap of more than 25 years. The Congress, although a long shot, hopes to regain its lost ground.
British broadcaster BBC has communicated to the income-tax department that some of its past income, for its operations in India, could have gone unreported during the statutory filing of returns and hence it would like to amend it, official sources said on Wednesday.
Finance Minister Nirmala Sitharaman on Wednesday asked tax officers to use simple language in income tax communications so that notices do not instil fear in the minds of taxpayers. Advising the income tax officers not to take "disproportionate" action and use enforcement measures only, as the last resort, Sitharaman said tax officers should use "power judiciously".
Decisions should not be based on feelings, such as optimism or pessimism about the stock market or specific investment products, suggests Avinash Luthria.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
Tax evasion is an illegal activity which entails not filing income tax returns altogether or misrepresenting the tax payable amount.
Two case studies on how one can use the exemption method or the credit route
These mistakes can turn out very expensive and not just in terms of your finances, but also in the time it will take to resort to the conflict at hand. Having a legal hand can save you from any unforeseen troubles, alerts Harshit Malik, entrepreneur, wisdom coach and enrichment guide.
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
It is advisable to file your ITR right away and not rely on potential extensions.
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
Here are some mistakes taxpayers make and how to avoid them...
A tax authority has ruled that Mauritius-based companies will have not have to pay capital gains tax in the country, a decision that will encourage global business entities to route investment from the island nation.
Downloading songs, movies, books? You may have to pay tax on it.
'We face the risk of remaining a low-income country for a very long time unless something changes in the next few years.' 'Instead of constantly talking about becoming a developed economy, we need to start fixing the problems of the economy one by one.' 'There is so much potential, and we are squandering away the opportunity.'
'Asset allocation should change only if your goals, life situation, or risk profile have changed.'
'By filing a belated return, you can avoid the consequences of non-disclosure of income.' 'You can also avoid a notice from the I-T department for not filing an ITR.'
DAP does not consider past I-T returns to match a taxpayer's resources with their expenditures or investments, points out Harsh Roongta.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
A number of US MNCs, including Apple, Google, Amazon and Starbucks have faced criticism for tax avoidance.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Younger investors with long investment horizons may continue their SIPs.
GST taxpayers will be required to reverse by November 30 the input tax credit (ITC) claimed in the last fiscal in case their suppliers fail to deposit the due tax by September 30, the finance ministry has said. The taxpayers, however, can reclaim the ITC later following the deposit of taxes by the supplier. The ministry has inserted Rule 37A in Central Goods and Services Tax rules to give effect to the new provision.
Widening of the tax base, doing away with cess and surcharge, improvement in compliance and moderation in tax for emerging sectors are some of the suggestions submitted to the Finance Ministry ahead of the Budget by Think Change Forum (TCF). Experts are of the opinion that there is a need to grow tax revenues for the government to drive economic growth and make investments in developmental activities, TCF, the think tank said in a statement. Towards this end, poor compliance was identified as a weak link in achieving targeted collections leading to complex issues like overtaxing, complicated tax structures, rising litigation, among others.
Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
GAAR will not override the recently revised double taxation avoidance agreements with Mauritius and Singapore.
Two organisations tracking tax violations and money laundering worldwide identify totally different sets of countries for lack of financial transparency.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
The Income-Tax (I-T) department has issued around 8,000 notices to salaried employees, self-employed individuals, and companies who made significant donations to charitable trusts. The department suspects potential tax evasion, as records of these donations do not correspond with the income and expenses of those making them. Sandeep Bajaj, managing partner, PSL Advocates & Solicitors, says, "Notices were issued for donations made during the assessment years of 2017-18 through 2020-21."
'Earlier there was no provision for considering TCS collected from the taxpayer for overall tax computation.' 'Now, credit will be given by the employer for TCS already collected to consider net tax to be deductible.'
'Choose an equity allocation that will allow you to remain invested even if the market falls by 50 to 60 per cent.'
Driven by smartphone, electronics exports have reached $22.5 billion in value in the first eight months of the current financial year (FY25), a near 28 per cent growth over the $17.66 billion electronics exports during the corresponding period of FY24.
Using credit or debit cards abroad can prove costly.
India may soon have a database for international transactions, particularly those routed through nations with which New Delhi has tax avoidance pacts, to check non-payment of taxes, if a proposal by a government panel has its way.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
