Dividend declaration sets record date for entitlement following regulatory disclosure of subsidiary incorporation and acquisition.
The company announced a second interim dividend with a fixed record date for entitlement, incorporated a wholly owned subsidiary to establish AI and sovereign data centres including a planned 1 GW AI data centre capacity, and completed a 100 per cent acquisition of a US-based Salesforce and AI services firm; these corporate actions were disclosed in the regulatory filing alongside quarter financial metrics and commentary on strategic investments and contract value.

TCS Q2 FY26: consolidated profit and revenue rose; company disclosed results post market and declared a second interim dividend.
TCS reported consolidated Q2 FY26 net profit of Rs 12,075 crore and operating revenue of Rs 65,799 crore, disclosed in a post market regulatory filing, and declared a second interim dividend of Rs 11 per Re 1 share.

Tribunal pendency and reform: transparent appointments and consistent rulings urged to modernise tax adjudication.
Large-scale pendency of tax disputes before the ITAT remains a systemic problem despite reductions in numerical backlog. Proposed reforms concentrate on transparent appointments, reformed tenure and eligibility to attract experienced practitioners, systematic induction and continuing education, early identification of conflicting decisions through special benches and internal references, and operational upgrades in case management, technology, secretariat staffing and infrastructure to modernise the Tribunal and promote consistent, efficient tax adjudication.

Chhattisgarh rice milling scam alleges organised extortion of millers via withheld incentive payments and alleged corruption.
Supplementary chargesheet names Anil Tuteja and Anwar Dhebar accused in an alleged scheme where officials and association office-bearers pressured rice millers into paying illegal commissions of Rs 20 per quintal by withholding incentive bill payments, invoking alleged criminal conspiracy, extortion, fiduciary misconduct and provisions of the Prevention of Corruption Act, with digital evidence and tax-agency inquiries linking collection and use of illicit funds.

Digital arrest scam exposed, resulting arrests and seizure of instruments used in nationwide identity and bank fraud.
A coordinated probe uncovered a pan India digital arrest scam where impersonation of officials induced a victim to disclose banking credentials, enabling unauthorized transfers and loans routed through shell companies; five suspects were arrested and extensive digital and financial evidence seized as forensic and financial investigations continue.

UP tax field postings set to be performance based; only officers with clean image and commitment will be assigned.
Field postings in the Uttar Pradesh state tax department will be assigned on a strictly performance based basis, limited to officers with clean image and commitment to achieving revenue targets. Zonal officers must explain shortfalls, prepare corrective action plans for underperforming divisions, and be held accountable. Measures emphasise increasing GST registrations, preventing fraudulent Input Tax Credit claims, recovering dues, speeding disposal of pending GST/VAT cases, and strengthening e governance to enhance taxpayer convenience, with transparency and integrity as core principles.

Investigation into alleged fiscal crimes by event manager Shyamkanu Mahanta may expand as ED and I T consider joining.
CID investigations into Shyamkanu Mahanta allege organised financial crimes, acquisition of benami properties and money laundering; ED and Income Tax officials have visited CID and are likely to join the probe. Seized material includes duplicate PAN cards, nearly 30 corporate and official stamp seals, and documents relating to benami properties and public works contracts. CID reports also reference alleged 20 year old fiscal irregularities from Mahanta's tenure at an NBFC involving over Rs 14 crore in advance loans and an incomplete internal probe.

H-1B hiring practices questioned; firm asked for detailed disclosures on displacement, wage parity, outsourcing, and recruitment methods.
Lawmakers requested detailed information from TCS about its H-1B hiring practices, specifically whether Americans were displaced, whether good-faith recruitment efforts preceded H-1B filings, wage and benefit parity between H-1B hires and comparable US workers, the use of separate H-1B recruitment ads, and the role of contractors or staffing firms in placing and paying H-1B employees; the inquiry references an ongoing EEOC probe and seeks data by a stated deadline against a backdrop of heightened scrutiny and a recent increase in the fee for new H-1B petitions.

National Security Act detention challenged as a politically motivated witch hunt, with demands for formal charges and disclosure.
Detention under the National Security Act of activist Sonam Wangchuk after violent protests is contested as a "witch hunt"; his family alleges absence of formal detention orders and demands disclosure of charges. The text records ongoing CBI and Income Tax Department engagement with explanatory documents from his organisations, disputes of alleged FCRA violations and financial irregularities, and contention that security concerns involving a foreign national require governmental clarification. It also contrasts investigatory measures with prior state awards and asserted non violent advocacy, while asserting a right to legal defence.

Alleged money laundering tied to possession of multiple PANs and forged seals prompts asset-freeze and detailed financial probe.
The CID launched a separate investigation into alleged organised financial crimes by Shyamkanu Mahanta after seizures of multiple PAN cards in the name of one firm, nearly 30 stamp seals of companies and government officials, and documents related to benami properties. The FIR alleges forgery, impersonation and fabrication of official documents to conceal proceeds of crime, places the conduct within the ambit of the Prevention of Money Laundering Act, and seeks registration of offences including cheating, forgery, misappropriation of government funds, and attachment and freezing of identified assets and accounts.

Government department environmental initiative: Income Tax unit plants saplings and leads cleanliness drive under Swachhta campaign.
The Income Tax Department's Thane unit conducted a Swachhta hi Seva fortnight environmental and cleanliness initiative at Rayladevi Lake, planting 100 saplings at Wagle Estate as a public-service outreach to promote community responsibility and environmental preservation.

Personal loan documentation: identity, address, income and repayment mandate verification determine borrower eligibility and processing speed.
Personal Loan processing requires verified identity, address, income, date of birth and signature documents because the loan is unsecured; salaried applicants should provide recent salary slips, bank statements and Form 16 or salary certificate, while self employed applicants must provide income tax returns, bank statements and business registration or company/partnership documents. Lenders also require photographs, a signed loan agreement and repayment mandate forms to confirm eligibility and enable disbursement.

Specified date for furnishing tax audit reports extended to provide additional time for affected taxpayers to submit audit reports.
The Board extended the specified date for furnishing audit reports under the Income tax Act for the Previous Year 2024-25, for assessees covered by clause (a) of Explanation Two to sub section (1) of section 139, moving the deadline from 30th September 2025 to 31st October 2025, in view of representations citing disruptions from floods and other impediments; a formal notification will be issued.

Extension of filing deadlines sought for income tax returns and tax audit reports due to floods and portal glitches.
The All India Federation of Tax Practitioners has sought a formal extension of filing deadlines for income tax returns and tax audit reports for assessment year 2025-26, requesting specific new due dates for non-audit ITRs, tax audit reports and audit-case ITRs, citing floods, landslides, portal glitches, discrepancies in data utilities, festival-related unavailability, and additional burden from revised financial statement formats; it has submitted a memorandum to the tax authority and filed a writ petition seeking directions for extensions.

Tax treatment for term insurance: premiums eligible for deductions and policy payouts exempt, enhancing tax efficiency of coverage.
The plan permits increases in sum assured at specified life events via Life Stage Coverage and annual Top-Ups; select "Plus" variants return 100% of premiums at term-end. FlexiPay allows premium deferral up to twelve months without lapse, with unpaid premiums deductible from claim payouts. An instant payout is available after a qualifying period and a Payor Accelerator advances 50% of base sum assured on terminal illness with premium waiver thereafter. Term plans are stated as GST-exempt; premiums are described as eligible under Section 80C and payouts exempt under Section 10(10D).

GST slab restructuring hailed as tax relief, while states allege they bore half the fiscal burden and face fund denial.
GST slab restructuring consolidates four rates into two (5% and 18%) alongside income tax cuts presented as nationwide savings, while the Chief Minister contends that approximately half of the relief has been borne by state governments. He alleges the Centre has failed to acknowledge or compensate states and links the withholding of SamagraShiksha funds to a language-policy dispute, framing the practice as punitive and contrary to federal fiscal equity.

H-1B fee requirement restricts entry unless petitions are supplemented by a substantial payment, affecting major tech employers.
A presidential proclamation conditions nonimmigrant entry on H-1B petitions being accompanied or supplemented by a substantial annual payment, expiring twelve months after its effective date unless extended. The proclamation cites USCIS data showing major concentrations of H-1B approvals among large technology employers and asserts the fee is aimed at addressing alleged systemic abuse by IT outsourcing firms that rely on H-1B labour, incentivise lower labour costs, and correlate with domestic layoffs.

GST evasion uncovered: bogus registrations and fake e-way bills enabled fraudulent input tax credit claims, probe and seizures follow.
GST evasion involving over 170 alleged bogus firms used fake registrations, fabricated documents and bogus e-way bills to generate fraudulent Input Tax Credit claims and understate turnover; searches led to seizure of cash and gold and referral of assets to the Income Tax Department, with a comprehensive probe and further legal proceedings ongoing.

Direct tax collection growth driven by corporate advance tax and slower refunds, supporting fiscal revenue projections this year.
Net direct tax receipts rose about nine per cent year to date, driven by higher corporate advance tax inflows and a reduction in refund issuances; gross direct tax collections increased modestly before refunds. Corporate advance tax and net corporate tax collections improved while non corporate advance tax declined though net non corporate receipts were higher; Securities Transaction Tax receipts remained broadly stable. The government's fiscal projections for direct tax and STT collections signal reliance on advance tax timing and refund management to sustain projected revenues.

Tax survey operation targets Marico group over alleged tax evasion, with authorities scrutinising its financial records.
A Tax Survey operation was conducted at multiple Marico group business premises in response to alleged tax evasion, involving surprise visits and focused examination of accounting records, transactions, and other financial documents by the tax investigation wing to assess compliance and identify potential irregularities.