India's new national accounts will leverage new data sources and surveys to enhance the measurement of the country's informal economy, and introduce double deflation methods across sectors, replacing the current system that relies on a single deflation mechanism in Gross Domestic Product (GDP) calculations.
'Bringing it back will help prevent reassessments of the income already disclosed.'
The latest move removes one of the key friction points for visitors, temporary liquor permits, while allowing licensed hotels and restaurants operational flexibility.
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
The Indian government has expressed its disagreement with the IMF staff's 'baseline' assumption that the 50 per cent US tariffs on its goods exports 'would remain in place indefinitely', based on which the staff pegged the country's GDP growth at 6.6 per cent this year, and pared its 2026-27 projection by 20 basis points to 6.2 per cent.
Kapil Raj, a former Enforcement Directorate (ED) officer who supervised the arrests of two chief ministers under the anti-money laundering law, has resigned from government service after serving for about 16 years, citing personal reasons.
'Everyone involved in this transaction must be punished and penalised.'
The change in the government's engagement with the economy's need for reforms is more nuanced than how analysts have so far perceived it, points out A K Bhattacharya.
'Sebi's move to cap brokerage charges will help investors by lowering the overall cost of investments.'
Quoting an incorrect PAN during property registration can invite penalties and prosecution.
The reduction in the goods and services tax (GST) rates has increased the momentum in India's economic activity both on the supply and demand sides, while robust agricultural activity - reflected in the strong onset of rabi sowing and adequate reservoir levels - has reinforced the outlook for food supply and rural incomes, the finance ministry said on Thursday.
Taking a serious note of the situation, the civil aviation ministry said it has invoked regulatory powers to ensure fair and reasonable fares across all affected routes.
The government had set a budgetary target of over Rs 1.87 lakh crore for collection from customs duty in current fiscal
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The home portfolio of Bihar, which Chief Minister Nitish Kumar kept with himself all through his nearly 20-year-long tenure, has been given to his deputy, BJP leader Samrat Chowdhury, this time, according to an official notification issued on Friday.
After Maharashtra Deputy Chief Minister Ajit Pawar announced that the sale deed executed by his son Parth's firm for a prime land in Pune has been scrapped, officials said the company will have to cough up double the stamp duty, which comes to Rs 42 crore, to get the transaction cancelled.
The Supreme Court has directed the CBI to conduct a pan-India investigation into digital arrest scams and questioned the RBI about its lack of AI usage in detecting and freezing accounts used by cybercriminals.
'This is not a case of tax evasion but the result of long-standing ambiguities in GST rules and unawareness.'
Mirabai Chanu's weight class axed from 2028 Olympics, to bulk up to 53kg for LA Games
A 57-year-old woman in Bengaluru was allegedly defrauded of approximately Rs 32 crore in a 'digital arrest' scam. Posing as CBI officers, fraudsters coerced her into sharing financial details and making numerous bank transfers over six months.
During negotiations, the officer allegedly agreed to reduce the amount to Rs 2 crore, with the condition that the first installment of Rs 50 lakh had to be paid to the middleman by Thursday evening, the complaint said.
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.
India's services sector growth witnessed the slowest pace of expansion in five months in October, as competitive pressures and heavy rains in parts of the country led to a slower increase in output, according to a monthly survey released on Thursday.
DGCA provided temporary relief to IndiGo, which is partially owned by Rahul Bhatia, by rolling back the night duty definition to 12 am-5 am from 12 am-6 am earlier, and allowing its pilots to do six night-landings from two earlier, besides other relaxations.
The Central Bureau of Investigation (CBI) has initiated an inquiry into alleged violations of the Foreign Contribution (Regulation) Act (FCRA) against an institution founded by Ladakh-based educationist and activist Sonam Wangchuk. The inquiry follows a complaint from the Ministry of Home Affairs regarding the Himalayan Institute of Alternatives Ladakh (HIAL).
A series of decisions were taken under the Public Health Department, including an approval to increase honoraria for field-level workers engaged under the Ayushman BharatPradhan Mantri Jan Arogya Yojana and Mahatma Jyotirao Phule Jan Arogya Yojana.
The Income Tax Department has clarified that the deadline for ITR filing for Assessment Year 2025-26 is September 15 and there is no further extension as circulated on social media. In a late night post on X on September 14, the department termed "fake" a statement in circulation on social media stating that the due date of filing ITRs has been further extended to September 30, 2025.
Since items in the 12% category account for only about 5% of total GST, the additional boost to consumption may not be significant, points out M Govinda Rao.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Trump also praised Chinese President as "a great leader of a great country" and said the two sides had "already agreed to a lot of things."
After Singer and Rapper Honey Singh's show concluded on Saturday, the Indore Municipal Corporation seized the concert goods over alleged entertainment tax evasion.
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
Banks are receiving requests for cancellation of approved car loans, in view of the implementation of GST rate cut, which will lower the price of passenger vehicles and also lead to subsequent reduction in the amount needed to purchase them. It is to be noted that the 56th GST Council meeting earlier this month, approved substantial reduction in the GST rate for cars for up to 1,200 cc to 18 per cent from the existing 28 per cent.
Gold prices surged Rs 2,200 to hit a fresh peak of Rs 116,200 per 10 grams in the national capital on Monday buoyed by strong global cues as investors awaited key commentary from US Fed officials for policy direction. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 1,14,000 per 10 grams on Friday.
Traders in Karnataka are raising concerns over GST demand notices based on UPI transaction data. A tax official defends the action, stating it's within the law and recipients can respond with documentation.
The House Democratic Whip Steny Hoyer welcomed the White House action.
The probe pertains to alleged illegal betting apps that are stated to have duped numerous people and investors worth crores of rupees or have evaded a huge amount of taxes.
Between January and August 2025, over 65,000 units of the Bolero were sold, making it the third-highest contributor to Mahindra's overall SUV sales. Bolero annually achieves sales of over 1 lakh units.
