A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
A grocery store owner in Bulandshahr alleges his PAN card was misused to set up six companies in Delhi after receiving an Income Tax notice for sales exceeding Rs 141 crore.
The CBDT is investigating Jane Street for possibly misusing the India-Singapore tax treaty.
The core dilemma remains: Why provide further stimulus to an economy that is already booming at an 8 per cent growth rate? asks Rajeswari Sengupta.
'We want to clear these pending refunds so that no issues arise once the new I-T Act takes effect.'
To digitise Customs processes, the Union finance ministry is planning to integrate the Indian Customs Electronic Gateway (ICEGATE), Risk Management System (RMS), and Indian Customs Electronic Data Interchange System (ICES) into a single unified national Customs platform, according to government sources.
Since the actor was busy with the shooting of Malayalam film Pranayam at Rameswaram, the IT authorities asked him to come to Kochi to record his statement today.
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.
'The hearing is not adversarial but inquisitorial in nature -- it allows Sebi to examine the context, the strategy, and the intent behind the trades, particularly when algorithmic and expiry-day trading are involved.'
The latest move removes one of the key friction points for visitors, temporary liquor permits, while allowing licensed hotels and restaurants operational flexibility.
In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
The matter has now been escalated and the ministry has written to Customs, Bureau of Indian Standards (BIS) and the Directorate of Revenue Intelligence (DRI) to investigate it thoroughly.
The government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs.
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.
Three men in Aligarh, Uttar Pradesh, received income tax notices demanding crores of rupees despite earning meager salaries, highlighting the growing issue of identity theft in India. The victims, who earn between Rs 8,500 and Rs 15,000 per month, were shocked to receive notices for Rs 33.88 crore, Rs 3.87 crore, and Rs 7.79 crore respectively. The authorities believe that businesses have been conducting large-scale transactions using forged Aadhaar and PAN cards in the names of these individuals.
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.
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
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 original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
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.
'Everyone involved in this transaction must be punished and penalised.'
'Sebi's move to cap brokerage charges will help investors by lowering the overall cost of investments.'
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.
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.
Quoting an incorrect PAN during property registration can invite penalties and prosecution.
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.
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.
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.
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.
Mirabai Chanu's weight class axed from 2028 Olympics, to bulk up to 53kg for LA Games
Traders were producing fake purchase and sale billing receipts and also availing multiple loans on one consignment.
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.
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.
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.
'This is not a case of tax evasion but the result of long-standing ambiguities in GST rules and unawareness.'
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
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).
'Bringing it back will help prevent reassessments of the income already disclosed.'
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."
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