The National Company Law Tribunal (NCLT) in Ahmedabad has ordered the freezing and attachment of all bank accounts and lockers belonging to Gensol Engineering Limited and its associated entities. The
India’s tax revenue is projected to rise to 12.0% of GDP in FY2025–26—from the peak 2007–08—signalling robust tax buoyancy, rising economic formalisation, and continued revenue mobilisation efforts, according to the
NEW DELHI: The Institute of Chartered Accountants of India (ICAI) has approved a crucial draft regulatory framework which will enable domestic chartered accountant firms to tie up with their global
New Delhi: Customs authorities have imposed penalties totalling over Rs 2.76 crore on IndiGo, which said it will appeal against the orders imposing fines. The Principal Commissioner of Customs, Ahmedabad,
New Delhi: The income tax department has extended the deadline for filing of tax returns by individuals from July 31 to Sept 15 in the wake of several amendments to
New Delhi, Finance Minister Nirmala Sitharaman will meet representatives of the Confederation of Indian Industry on Tuesday evening to discuss the roll out of reforms in the Goods and Services
NEW DELHI -India will restore benefits under a key scheme that reimburses exporters for embedded duties, taxes, and levies not covered by any other government refund programme in an effort
A panel, headed by Niti Aayog member Ramesh Chand, on charting a roadmap for growth of Bihar, Jharkhand, Odisha, West Bengal and Andhra Pradesh could propose tax incentives, simplified compliance
Tata Motors New Delhi, Tata Motors has paid Rs 38,892 crore in tax and other contributions globally in 2024-25, a dip of 1 per cent as compared with Rs 39,344
The Supreme Court on Monday directed parties to maintain status quo on the liquidation of Bhushan Power and Steel Ltd (BPSL), following a plea by JSW Steel to keep the
Sending money from the US to India could get costlier in 2026 if President Donald Trump’s proposal goes through. The 1,116-page ‘One Big Beautiful Bill’—which outlines tax reforms and spending
New Delhi, The GST Council is likely to meet soon to discuss rate simplification and rationalisation and the future of compensation cess, according to a source. “There are three or
In today’s dynamic economic environment, accounting and reporting have become important levers of building resilience and trust, and transforming businesses. As stakeholders’ expectations rise and advanced technologies become more accessible,
The Centre has begun fresh discussions on a significant revamp of the goods and services tax (GST) structure to simplify it further and rework the rate slabs, officials said. There
A Delhi court has allowed interim relief sought by Puneet Singh, co-founder, Gensol Engineering Ltd, the company and its affiliate BluSmart for usage of defamatory words which are unsubstantiated or
Select suppliers who provide taxable goods or services are subject to reverse GST (Goods and Services Tax). The recipient of services or goods, not the supplier, is responsible for paying
The Supreme Court has rejected the finance ministry’s petition seeking a review of its October judgement, which allowed real estate companies to claim input tax credits (ITC) on the construction
The Supreme Court has rejected the finance ministry’s petition seeking a review of its October judgement, which allowed real estate companies to claim input tax credits (ITC) on the construction
The Trump administration’s proposed 5% tax on all remittances sent abroad is not likely to have a significant impact on the Indian economy, officials and economists said. The exact impact
Cyril Amarchand Mangaldas advised Fusion Finance on its rights issue of partly paid-up equity shares. The deal size was ₹8,000 million approx. The rights issue was subscribed 1.5 times. IIFL
This marks an expansion of the investigation into Gensol, which began with Sebi’s report last month. The National Financial Reporting Authority (NFRA) has launched a preliminary inquiry into the books
JSW Steel is facing a possible reversal of tax benefits availed as part of the acquisition of Bhushan Power and Steel (BPSL), following its 2020 takeover of the bankrupt company
New Delhi, The Income Tax department has notified ITR-U which will allow taxpayers to file updated returns for 4 years from the end of relevant assessment year (AY). The Finance
Haryana Chief Minister Nayab Singh Saini has assured that the state government may recommend including the financial year (FY) 2020–21 under the Goods and Services Tax (GST) Amnesty Scheme. This
In a matter that will have huge implications for businesses across the country, the Supreme Court on Monday upheld a Gujarat High Court decision that allowed the companies to make
The Supreme Court on Monday asked why couldn’t the Centre formulate a “clear cut” policy on regulating cryptocurreny while underlining its impact on economy. A bench of Justices Surya Kant
The Supreme Court on Monday dismissed the pleas of telecom majors Vodafone, Airtel and Tata Teleservices seeking the waiver of adjusted gross revenue (AGR) dues. A bench comprising Justices J
India’s markets regulator is investigating six IndusInd Bank officials for insider trading to determine if they sold stock options while being aware of accounting lapses at the bank before these
A proposed 5 per cent US tax on remittances sent abroad by non-citizens is raising alarm in India as it may hit Indian households and the rupee, economic think tank
GST Network on Friday deferred the implementation of locking of the table showing inter-state supplies to unregistered persons and composition tax in monthly tax payment form GSTR-3B. GSTN, which manages
New Delhi: The government on Thursday said it has approved as many as 187 startups for income tax exemption. The tax benefit allows eligible startups a 100 per cent income
Two days after the Bar Council of India notified amended rules for the registration of foreign lawyers and law firms based on reciprocity, the apex bar body on Thursday said
The Supreme Court on Thursday agreed to hear a fresh plea of Vodafone Idea seeking waiver of around Rs 30,000 crore adjusted gross revenue (AGR) dues. A bench comprising Chief
Orissa High Court The Orissa High Court has directed the Customs Department to pay 6% interest on delayed customs refunds to Indian mining major Vedanta. In a significant ruling that
The Union Finance Ministry released a draft on India’s climate finance taxonomy last week. The draft document aims to guide investors toward activities aligned with India’s climate goals and transition
India’s GST collections for FY2024–25 touched a total of ₹16,75 lakh crore, an increase of 9.98% against ₹15.23 lakh crore collected in FY23-24. This reflects continued momentum in economic activity
NEW DELHI: Flagging concerns over the misuse of a Central Goods and Services Tax Act provision, Delhi high court has fined a private firm for fraudulently claiming input tax credit
New Delhi, Mankind Pharma Ltd on Wednesday said it has received additional tax demands, including interest, of Rs 341.86 crore from the Income Tax authority. The company has received orders
The Goods and Services Tax Network (GSTN) has issued important advisory about those taxpayers who wish to apply for the GST Amnesty Scheme on or before the deadline of June
The Income Tax Appellate Tribunal (ITAT) Mumbai recently exempted an NRI step-brother from paying any income tax after the tax department added Rs 7.88 crore income in his Income Tax
The Income Tax Department has notified the income tax return forms for FY 2024-25 (AY 2025-26), incorporating the changes in tax laws announced in the July 2024 budget. However, taxpayers
Vijayawada: Observing that Andhra Pradesh is one of the top states in gold purchases, chief minister N Chandrababu Naidu expressed concern that tax revenue was not proportionate to gold consumption.
The survey also reveals that sustainability is playing a significant role in shaping career paths. Nearly three in four respondents from India – 74% – expressed interest in accountancy roles
In a major step towards plugging tax leakages and improving data accuracy, the Goods and Services Tax Network (GSTN) has rolled out new compliance rules for businesses filing GST returns
New Delhi: The income tax department has notified all seven income tax return forms for assessment year 2025-26. While ITR forms 1 and 4, which are filed by small and
My hands cradle my aching head, surrounded by tax forms and a calculator under the dim glow of my desk lamp. The deadline looms. Chandigarh: Punjab finance minister Harpal Singh
Amaravati, May 12 (IANS) The Andhra Pradesh government has granted property tax exemption to houses owned by Indian Defence personnel within the gram panchayat limits in the state. Vijayawada, Andhra
The Income Tax Appellate Tribunal (ITAT), Mumbai, on April 17, 2025 held that long term capital gains (LTCG) tax exemption under Section 54 cannot be denied by the income tax
