Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
September 1, 2026
Show AI Summary
Current account deficit widened as merchandise trade deficit increased, notwithstanding stronger services receipts, remittances, and foreign direct investment inflows.
India's current account deficit widened in the first quarter of 2026-27 as the merchandise trade deficit increased. Higher net services receipts, increased personal transfer receipts and lower net primary-income outgo partly supported the external account. Financial-account movements included higher net foreign direct investment inflows, a shift in foreign portfolio investment from net inflow to net outflow, and lower net inflows through non-resident deposits and external commercial borrowings. Foreign exchange reserves declined on a balance-of-payments basis during the quarter.
September 1, 2026
Show AI Summary
Technology-enabled tax compliance and enforcement supported higher commercial tax collections, while GST rate reductions moderated sectoral net GST growth.
Technology-enabled tax administration supported commercial tax and net GST collection growth in Andhra Pradesh during August 2026 and the cumulative period through August. AI-based analytics and scrutiny, IGST reversals, UPI-based enforcement, registration verification, Aadhaar authentication, digital payment enablement, predictive analytics and data sharing strengthened compliance, scrutiny and revenue mobilisation. Petroleum VAT, professional tax, liquor VAT and IGST settlement also increased, while GST rate reductions moderated net GST performance in specified product sectors.
September 1, 2026
Show AI Summary
Windfall gains tax on petroleum exports rises for petrol and diesel while aviation turbine fuel levy is reduced.
Special additional excise duty and road and infrastructure cess on petroleum-product exports are revised with effect from 1 September 2026. The export duty on diesel is increased, the levy on aviation turbine fuel is marginally reduced, and a duty is imposed on petrol exports. Existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall-tax framework seeks to support domestic fuel availability and deter exporters from benefiting from domestic and international price differences.
September 1, 2026
Show AI Summary
Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
September 1, 2026
Show AI Summary
Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
United Forum of Bank Unions has proposed nationwide strike action over delayed five-day banking, the performance-linked incentive framework, and unresolved pension demands. Five-day banking was agreed under the 12th Bipartite Settlement/9th Joint Note with extended Monday-to-Friday working hours, but remains pending for implementation. Unions challenge the incentive scheme for departing from a uniform, bank-performance-linked approach and for disproportionately benefiting senior officers. The dispute is under conciliation and pending before the Delhi High Court, while pension updation, a uniform dearness allowance formula, and an old pension scheme option remain unresolved.
September 1, 2026
Show AI Summary
Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
September 1, 2026
Show AI Summary
GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
September 1, 2026
Show AI Summary
Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
September 1, 2026
Show AI Summary
Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
Show AI Summary
Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
Show AI Summary
Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
Show AI Summary
Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
Show AI Summary
Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
Show AI Summary
Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
Show AI Summary
GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
Show AI Summary
Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
Show AI Summary
Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
Show AI Summary
Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
Show AI Summary
Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
September 1, 2026
Show AI Summary
Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters
Corp. Laws, SEBI & IBC

National priority should be to shift from ‘land productivity’ to ‘irrigation water productivity’ and give special thrust to Micro Irrigation

July 4, 2019

Contents
Summary
Note

Note

-

Bookmark

Print

Print

The Economic Survey 2018-19 suggests that “focus should shift from ‘land productivity’ to ‘irrigation water productivity’.  Devising policies to incentivize farmers to improve water use should become a national priority.  Thrust should be on micro-irrigation that can improve water use efficiency”.  In India according to the Asian Water Development Outlook, 2016, almost 89% of groundwater extracted is used for irrigation. “There is a major concern whether the present practice of ground water use can be sustained as the depth of ground water level continues to drop.  The cropping pattern in India is highly skewed towards crops that are water intensive. The incentive structure like MSP, heavily subsidized electricity, water and fertilizer have played a significant role in misalignment of crop pattern”. The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Economic Survey 2018-19 in Parliament today. The Survey lays special emphasis on the agriculture and food sector as a large proportion of population is engaged in it despite the reduction in its contribution to overall growth. The Survey says that “agriculture is critical for the country’s food security”. 

Around 89% of groundwater extracted is used for irrigation and crops such as paddy and sugarcane consume more than 60% of irrigation water.  The costs of fertilizers are key determinants of profitability of farming. The fertilizer consumption which was continually increasing since 2002 has shown a declining trend after 2011.  Fertilizer response ratio has been declining over time indicating declining responsiveness of soil fertility to fertilizer application. The Economic Survey suggests use of optimal dose based on soil health status, promotion of neem coated urea, promotion of micro nutrients, promotion of organic fertilizers and promotion of water soluble fertilizers.   Organic and natural farming techniques including Zero Budget Natural Farming (ZBNF) can improve both water use efficiency and soil fertility.  The main aim of ZBNF is to eliminate chemical pesticides and promote good agronomic practices that are eco-friendly and less water consuming.

Over the years, several new challenges have emerged before the sector.  With fragmentation of agricultural land holdings and depletion of water resources, the adoption of a resource efficient ICT based climate smart agriculture can enhance its productivity and sustainability.  With decline in size of landholdings in agriculture, India has to focus on resource efficiency especially in smallholder farming to attain sustainability. The Economic Survey proposes that a combination of resource efficient method, dynamic cropping patterns, climate change responsive farming and intensive use of ICT should form the backbone of farming in India.  For a safe and food secured future, the agriculture sector has to undergo tremendous transformation from the philosophy of ‘green revolution’ led productivity to ‘green method’ led sustainability.

http://164.100.117.97/WriteReadData/userfiles/image/image001DFTX.jpg

The Economic Survey states that “the gross value added in agriculture has improved from a negative 0.2% in 2014-15 to 6.3% in 2016-17 and then declined to 2.9% in 2018-19.  While the crops, livestock & forestry sector showed fluctuating growth rate over the period from 2014-15 to 2017-18, the fisheries sector has shown rapid growth from 4.9% in 2012-13 to 11.9% in 2017-18.  The average annual growth rate in agriculture and allied sector has remained at around 2.88% during 2014-15 to 2018-19.  However, the volatility of output growth has declined significantly over the past 60 years.  The share of agriculture, forestry and fishing sector in the Gross Value Added has seen a steady decline over the years from 15.4% in 2015-16 to 14.4% in 2018-19.  The decline was mainly due to decline in share of crops in GVA from 9.2% in 2015-16 to 8.7% in 2017-18.

http://164.100.117.97/WriteReadData/userfiles/image/image002ADFC.jpg

The Gross Capital Formation (GCF) in agriculture and allied sector as a percentage of GVA saw rise to 17.7% in 2013-14 but declined thereafter to 15.2% in 2017-18.  The GCF in absolute terms increased from 2,51,904 crore in 2012-13 to 2,73,555 crore in 2017-18 at 2011-12 prices.  While the share of public investment registered an increase from 2014-15 and maintained an upward trend till 2016-17, the share of private investment in GCF shows a decline during this period.

Talking about the pattern of agriculture land holding in India, as per Phase I result of Agriculture census 2015-16, the Economic Survey states that the number of operational holdings has increased to 14.6 crore in 2015-16 from 13.8 crore in 2010-11, thereby registering an increase of 5.1%.  The share of marginal holdings (less than 1 ha) increased from 62.9% in 2000-01 to 68.5% in 2015-16.  While small holdings (1 ha to 2 ha) decreased from 18.9% to 17.7% during the same period.  Large holdings (above 4 ha) decreased from 6.5% to 4.3%.

Women play a significant and crucial role in agriculture including crop production, livestock production, horticulture, post harvest operations, agro/social forestry, fisheries etc. The share of operational holdings cultivated by women has increased from 11.7 % in 2005-06 to 13.9% in 2015-16.  The marginal and small holdings operated by women farmers together constitute 27.9% of total operational holdings cultivated by women.

Highlighting the importance of bringing resource efficiency in smallholder agriculture, the Economic Survey enumerates several important factors and also lays down the main policy changes required.  These include increasing Irrigation Water Productivity (IWP) by adopting improved methods of irrigation and irrigation technologies, increasing sustainability through organic and natural farming, economizing the use of fertilizers and pesticides, improving infrastructure and access to markets and adopting appropriate technology for smallholder farm.

The access to timely credit or finance is a critical determinant of profitability of agriculture.  Lack of access to credit facilities has severe impact on agricultural productivity.  The regional distribution of agriculture credit in India is highly skewed.  When compared to western and southern States, the hilly, north-eastern and eastern States are at a disadvantage.  The Economic Survey suggests that the provision of agriculture credit should take care of the needs of small and marginal farmers who constitute a majority in these regions.

Talking about the allied sector which includes animal husbandry, dairying and fisheries the Economic Survey emphasizes that to transform the rural economy greater emphasis should be given to the allied sector with the major focus on dairy, poultry, fisheries and rearing of small ruminants.  The performance of allied sector in terms of growth and employment has been more robust and sustainable as compared to the crop sector.  Fisheries is a fast growing sector that employs more than 14.5 million people.  While enhancing income through livestock development and fishery sector it is significant that this must be undertaken without comprising the needs of the future generation by overexploiting/depleting marine resources.

Food security exists, as per the FAO, when all people at all times have physical and economic access to sufficient, safe and nutritious food that meets the dietary needs and food preferences to ensure an active and healthy life style.  India’s food security challenges lie in the areas of low GDP per capita, sufficiency of supply, public expenditure on R&D and protein quality.  While India ranks number 1 in nutritional standards, there is a need to further improve management of food supply.  The Central Government takes several steps to prudently manage foodgrain stock while ensuring adequate availability of foodgrain for the entire nation.  The Economic Survey suggests addressing the issue of burgeoning food subsidy bill for sustainable food security operations.  It also suggests greater use of technology in food management and computerization of targeted public distribution system (TPDS).

Topics

Acts Income Tax