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
    Standard Chartered Accelerates India's GCC Growth with its Global Banking Expertise and 25 Years of GCC Experience
    IFSCA Grants Nexent Capital GIFT City Investment Banking License
    India's exports rise 19.63 pc to USD 44.24 bn in Jul; trade deficit widens to $31.98 bn
    Vizhinjam port to commence EXIM operations from Aug 18: Kerala CM Satheesan
    Ratul Puri: Beyond Low-Cost Power to Clean Energy Reliability
    PMS Bazaar Collaborates with NSDL Database Management Limited (NDML Accreditation Agency) to Expand Access to SEBI Accredited Investor Certification
    Compounded annual growth rate of Manufacturing GVA at constant prices (2022-23 base) as per revised series during 2022-23 to 2025-26 is 10.88%
    National Company Law Tribunal (NCLT) Launches e-Inspection and e-Certified Copy Services
    The Government of India to launch the Central Bank Digital Currency (CBDC)-based Direct Benefit Transfer (DBT) in the Union Territories of Chandigarh ...
    India and the Southern African Customs Union (SACU) sign Terms of Reference (ToR) for negotiations towards a Preferential Trade Agreement
    Airtel ends all prepaid mobile plans offering 1.5 GB data per day with unlimited calls
    ED arrests IBC resolution professional
    Mumbai cops bust fake documents racket; four arrested
    After nine years at helm, N Chandra to exit Tata Sons amid expansion, governance standoff
    RBI invites comments on the Draft “Reserve Bank of India (Interest Rates on Loans and Advances) Directions, 2026”
    Sensex falls 188 pts amid elevated crude oil prices; Tata Group stocks decline after N Chandra's exit
    SJM urges govt to stand firm against US tariff pressure, calls for boycott of American products
    Union Minister of Commerce and Industry Shri Piyush Goyal Calls for Fair Trading Practices and Taking ‘Make in India’ from Local to Global
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman delivers keynote address at Seminar on “Role of the New Development Bank in M...
    Delhi HC halts processing of IT-returns of Supreme Court, high court judges
❯❯
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
August 13, 2026
Show AI Summary
Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion.
Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
August 13, 2026
Show AI Summary
Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City.
IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.
August 13, 2026
Show AI Summary
Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit.
India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
August 13, 2026
Show AI Summary
EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity.
Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.
August 13, 2026
Show AI Summary
Renewable energy reliability requires storage, grid readiness and ancillary service markets alongside competitive clean-power procurement.
Renewable energy procurement is shifting beyond lowest tariffs towards dependable, dispatchable and affordable clean power, assessed through capacity value, balancing capability and system economics. Storage-backed renewable and hybrid projects can improve renewable utilisation, reduce variability and curtailment, and support peak demand. Higher renewable penetration also requires supportive storage policies, timely approvals, aligned intrastate transmission planning, stronger distribution infrastructure, and market mechanisms for ramping reserves, frequency response and fast-response balancing services.
August 13, 2026
Show AI Summary
Accredited Investor certification facilitates eligible investors' access to alternative investment products, lower thresholds and applicable regulatory flexibilities.
SEBI's Accredited Investor framework enables eligible investors and entities to obtain certification that may allow lower minimum investment thresholds for Portfolio Management Services, Alternative Investment Funds and other alternative investment products, along with applicable regulatory flexibilities. PMS Bazaar and NSDL Database Management Limited's Accreditation Agency facilitate end-to-end applications, subject to required documentation and prescribed payment. Assistance is available to individual investors and eligible clients of investment providers without additional platform, service or processing charges, while prescribed certification fees remain payable.
August 13, 2026
Show AI Summary
Manufacturing GVA growth under the revised national accounts series highlights stable sectoral contribution and resilience-focused industrial measures.
Manufacturing performance is assessed under the revised National Accounts Statistics series using 2022-23 as the base year. Manufacturing's share of total Gross Value Added at current prices remained broadly stable through 2025-26, and Manufacturing GVA at constant prices achieved a compounded annual growth rate of 10.88% from 2022-23 to 2025-26. Production Linked Incentive schemes, logistics and industrial-corridor measures, semiconductor initiatives, and MSME support seek to strengthen domestic manufacturing, diversify supply chains, reduce import dependence, and improve resilience.
August 13, 2026
Show AI Summary
Electronic inspection and certified copies expand digital access to judicial records while supporting efficient case management and reduced delays.
NCLT has launched e-Inspection and e-Certified Copy Services for faster and more convenient access to judicial records and certified copies by advocates, litigants and other stakeholders. The services support a technology-enabled Registry framework and transparent, efficient justice delivery. Pendency monitoring, workload redistribution, Special Benches, maximisation of court time, and registration and listing guidelines are intended to improve case management, optimise limited judicial resources and reduce avoidable delays.
August 13, 2026
Show AI Summary
CBDC-based food subsidy transfers enable eligible beneficiaries to use Digital Rupee wallet credits for traceable foodgrain purchases.
CBDC-based Direct Benefit Transfer under the Pradhan Mantri Garib Kalyan Anna Yojana will credit eligible beneficiaries' food subsidies as programmable Digital Rupee tokens directly into CBDC wallets. Beneficiaries may use these credits to purchase foodgrains from empanelled merchants through secure, real-time and traceable payments, replacing conventional bank-account transfers. The model is intended to improve traceability, reduce leakages and cash handling, enable real-time monitoring of subsidy use, and provide a scalable framework for CBDC integration with welfare schemes.
August 13, 2026
Show AI Summary
Preferential trade agreement negotiations begin under agreed terms covering market access, origin rules, trade remedies and dispute settlement.
India and the Southern African Customs Union have signed Terms of Reference to commence negotiations for a Preferential Trade Agreement. Negotiations are envisaged on trade in goods and market access, rules of origin, customs procedures and trade facilitation, trade remedies including bilateral safeguards, sanitary and phytosanitary measures, technical barriers to trade, dispute settlement, and legal and horizontal provisions. The Terms of Reference establish the negotiating framework only; preferential tariff treatment and other operative commitments depend on conclusion of a final agreement.
August 12, 2026
Show AI Summary
Prepaid plan restructuring eliminates mid-tier daily-data options and channels subscribers toward higher-priced plans with expanded data access.
Bharti Airtel has discontinued prepaid plans combining 1.5 GB daily data allowances with unlimited calling, directing subscribers towards higher-priced plans with expanded data access, including unlimited 5G data. The restructuring reduces low-priced unlimited-data offerings and changes the pricing architecture for customers using discontinued mid-tier plans. Management links tariff repair to differentiated mobile-plan categories and sustained average revenue per user growth.
August 12, 2026
Show AI Summary
Insolvency professional conduct faces money-laundering allegations over re-admitted claims, creditor committee changes, and a connected resolution applicant.
Enforcement action under the Prevention of Money Laundering Act concerns allegations that an insolvency professional re-admitted claims earlier rejected as spurious and fraudulent during the Corporate Insolvency Resolution Process. The alleged re-admission altered the Committee of Creditors' composition and facilitated consideration of a resolution plan allegedly submitted for, and funded through an entity controlled by, a company promoter under investigation for diversion of bank-loan funds. Adverse findings reportedly included acting beyond authority by relying on fabricated and improperly submitted material.
August 12, 2026
Show AI Summary
Identity document forgery allegations prompt investigation into fraudulent Aadhaar updates and falsified government and educational certificates.
Alleged forgery and misuse of identity-related records are under investigation following operations at Aadhaar centres. Seized materials reportedly include forged birth, educational, residence, caste and citizenship certificates, records bearing forged signatures and seals, and equipment used for Aadhaar updates. Four persons were arrested in two operations for allegedly preparing forged records and using them to update Aadhaar cards. Cases have been registered under relevant provisions of the Bharatiya Nyay Sanhita, with investigation continuing into the extent of the alleged network.
August 12, 2026
Show AI Summary
Holding-company governance succession follows leadership departure, requiring transition planning amid unresolved strategy, capital allocation, board representation and listing questions.
Tata Sons' leadership succession and governance framework have become central following the chairman's decision not to seek reappointment when his term ends in February 2027. The board has been asked to decide on a successor promptly. Unresolved matters include the strategic roadmap, losses and capital requirements in newer businesses, board representation, capital allocation, an exit route for the Shapoorji Pallonji Group, and the possible listing of Tata Sons. Future leadership must manage these issues while improving returns from investment-intensive businesses and maintaining established operations.
August 12, 2026
Show AI Summary
Interest-rate regulation for loans and advances proposes harmonised fixed and floating loan-pricing principles across regulated entities.
Interest-rate regulation for loans and advances is proposed to be harmonised across all regulated entities through a principles-based framework for fixed-rate and floating-rate loans. The framework would be calibrated to each entity's nature, complexity and scale, while supporting monetary policy transmission, credit-risk-based pricing, and fair, non-discriminatory borrower treatment. It addresses divergent commercial-bank practices in determining the marginal cost of funds-based lending rate and its components, alongside limited regulatory coverage of fixed-rate loans. Separate final directions are intended for each category of regulated entity after consideration of feedback.
August 12, 2026
Show AI Summary
Elevated crude oil prices and Tata leadership transition drove broad equity market selling amid inflation concerns.
Indian equity markets declined amid elevated crude oil prices, inflation concerns and broad risk-off selling. Tata Group shares, particularly TCS, came under pressure after N. Chandrasekaran announced that he would not seek reappointment as Tata Sons Chairman when his current term ends. Crude oil prices approaching the USD 90-per-barrel level affected investor confidence because of potential inflationary effects, while uncertainty over United States-Iran negotiations and Strait of Hormuz shipping disruptions added to global energy market concerns.
August 12, 2026
Show AI Summary
Trade sovereignty and energy security underpin calls to resist tariff pressure and protect sensitive sectors in bilateral negotiations.
Trade sovereignty and energy security are advanced as grounds for resisting tariff pressure linked to Indian purchases of Russian crude. Bilateral trade negotiations should proceed through equality, reciprocity and mutual respect without compromising agriculture, dairy, energy security or strategic autonomy. Concerns are also raised over removal of e-commerce inventory restrictions for foreign direct investment and over proposed Merchant Discount Rate charges on UPI transactions. Withdrawal of the inventory measure and opposition to payment-provider charges are urged, alongside possible restrictions on United States technology and social-media companies and consumer boycotts of American goods and services.
August 12, 2026
Show AI Summary
Fair trading practices and circular production are promoted to strengthen Make in India and expand global market participation.
Trade and industrial policy messaging encourages businesses to digitise operations, adopt good manufacturing practices, follow fair trading practices, and promote recycling, reuse and a circular economy. Nine free trade agreements are identified as creating preferential market-access opportunities for Indian industry and businesses. MSMEs, entrepreneurs, farmers, fishermen, workers and the services sector are encouraged to expand Indian products and services globally, improve competitiveness through scale, and strengthen the quality, design and brand value associated with Make in India.
August 12, 2026
Show AI Summary
Private capital mobilisation requires credible long-term frameworks, risk-sharing mechanisms, and multilateral partnerships to strengthen infrastructure investment.
Private capital mobilisation in infrastructure and development finance depends on credible long-term frameworks, investor confidence, project bankability, and balanced risk allocation. Public capital is intended to catalyse rather than replace private investment. Key financing mechanisms include Viability Gap Funding, the Hybrid Annuity Model, credit enhancement, and Infrastructure Investment Trusts. Long-term investment visibility and coordinated connectivity are supported through the National Infrastructure Pipeline and PM Gati Shakti framework, alongside investment measures for freight, rail, waterways, and coastal cargo.
August 12, 2026
Show AI Summary
Judicial allowance exemptions under the new tax regime remain disputed, with return processing and resulting demands kept in abeyance.
Tax treatment of specified judicial allowances under the new income-tax regime is disputed. Statutory service-condition provisions are asserted to exclude allowances, including official residence, conveyance, sumptuary allowance and leave travel concession, from income computation and to override the Income-tax Act. Pending consideration, affected judges may show these amounts as receipts not in the nature of income, and their returns are not to be processed further. Any resulting demand remains in abeyance, while refundable amounts are withheld subject to the pending proceedings.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters

Opposition slams Budget as bundle of empty promises, ruling party MPs say it has vision for developed India

February 11, 2025

Contents
Summary
Note

Note

-

Bookmark

Print

Print

New Delhi, Feb 11 (PTI) Opposition MPs in Rajya Sabha on Tuesday slammed the Union Budget as a bundle of empty promises that fails to address pressing issues like unemployment, inflation and farmer distress, while the members of the ruling BJP-led alliance lauded it as a significant step in the development path towards achieving the goal of 'Viksit Bharat'.

Participating in the debate on the Budget, BJP leaders highlighted India's economic growth despite the adverse impact of the COVID pandemic, efforts being made for the development of various sectors of the economy including infrastructure, and reforms like the income tax exemption up to Rs 12 lakh, which they claimed would boost consumption and growth.

On the other hand, opposition MPs accused the government of failing to deliver on its much-touted 'Sabka Saath, Sabka Vikas' slogan by sidelining welfare schemes for minorities, neglecting the agricultural sector, and overlooking the concerns of farmers, Scheduled Castes and Scheduled Tribes.

They also criticised the Goods and Services Tax (GST) regime and the stagnant budget for Mahatma Gandhi National Rural Employment Guarantee (MGNREG) scheme despite high demand.

BJP leader RPN Singh said, "In the last ten years, the Modi government has made our economy bigger than Britain which ruled us." He slammed the opposition saying they can't appreciate even the good decisions of the government.

"The exemption up to Rs 12 lakh on income tax, was it a bad decision? They will not speak about it even as the whole of India is lauding it," he said.

"The economy is progressing fast, it seems the opposition has forgotten COVID has impacted the whole world's economy, and India is now the fastest-growing economy," he said.

Singh said with the income tax slab change, Rs 1 lakh crore will be injected into the economy which will increase consumption.

However, TMC's Saket Gokhale said the government is going to earn more from taxes in this budget "by compensating for the reduction in income taxes through GST and other indirect taxes through which people are going to be extorted".

"Only 2.2 per cent of India's population pays income tax benefits ... 100 per cent of the population pays GST. When you take money through GST, everybody is going to get impacted by that," he said.

He alleged that the Modi government was depriving West Bengal of its rightful dues by withholding payment of over 1.75 lakh crore " because our people don't vote for them".

"Instead of the Licence Raj, today we have the GST Raj. Companies across India live in the dread of the GST inspector, who will find the smallest violation and then extort huge fines," he alleged.

Gohkale said the Indian economy is "crumbling" from the inside and its wall is going to crumble until something serious is done.

Independent Rajya Sabha member Kapil Sibal asked the government to spell out its vision for artificial intelligence considering the impact that it can have on jobs in India, while criticising the lack of an overall vision for the future in Union Budget 2025-26.

"When a new government comes to power naturally people of India expect that government to give us a vision of what it intends to do in the next five years. This government has already had ten years and the delivery mechanism has been both slow and inconsistent," the former Union minister said.

Chandrakant Handore, a Congress MP, demanded steps for the social, economic and educational uplift of backward and poor people to achieve the aim of Viksit Bharat.

“The government should focus on the development of backward and poor people along with the development of the nation,” Handore said.

BJP MP Bhagwat Kishanrao Karad said that the Budget is aimed at implementing the vision of a developed India by 2047.

"PM Modi, in his 11-year tenure, has given a new vision, which is Viksit Bharat Sankalp 2047, to 140 crore Indians," he said.

He said that if one has to study the budget, one should look at budget estimates and budget receipts.

He said that in 2013-14, the budget estimate was 16.65 lakh crore and after 10 years in 2024-25 it became 47.16 lakh crore.

Samajwadi Party MP Javed Ali Khan criticised the slashing of expenditure on schemes meant for the minority groups.

"The Budget or any policy document depicts the government's philosophy. In this Budget of 2025-26, minorities have been totally overlooked. The welfare schemes for minorities, the programmes have been either shut, or allocations have been cut," he said.

"The philosophy of 'Sabka Saath, Sabka Vikas' is definitely not behind it," he said.

Niranjan Bishi of the Biju Janata Dal (BJD) said that the Budget should have announced cuts in the prices of petrol, diesel and LPG, which would have helped bring down inflation.

CPI MP PP Suneer accused the Union government of not giving Kerala its due share.

CPI-M member A A Rahim criticised the Centre's economic policies, saying it has failed to address the real concerns of citizens.

Congress MP Ashok Singh stressed the need for a loan waiver for farmers, adding that a law should to made so that the Minimum Support Price for crops is decided based on the input cost.

BJP MP Arun Singh said that the Modi government has taken several steps for the farmers.

"Our government is dedicated to farmers, that is why in every election farmers vote for us and make us win while the opposition parties lose," he said.

Rajani Patil of Congress termed the Budget as a clear-cut example of the government's misplaced priorities.

"This Budget has neglected the most pressing issues facing our nation such as unemployment, farmer distress and rising cost of living. The lack of attention on these critical areas is a stark reminder of the government's disconnect from the common man, " she said.

She said budgetary allocations for the agri and fertiliser sectors have come down and even the MNREGA scheme remains stagnant despite demand for increases in wages.

NCP-SCP MP Fauzia Khan attacked the government on "rising" unemployment and the cost of living for middle-class households.

She also pointed to the decline in the value of the Indian rupee against the dollar.

Countering the opposition charge, Ajit Madhavrao Gopchade of the BJP noted that the government is working towards making the country a world power.

He said that post-COVID while many economies faltered, India continued on the path of growth.

BJP's Deepak Prakash stated that the Budget has brought happiness to the faces of 140 crore Indians.

He attacked the previous Congress governments for scams and policy paralysis.

NCP MP Praful Patel said that earlier giving 'roti, kapda and makan' was the essence of political and economic discourse, but people are today talking about a confident, self-reliant and developed India.

Referring to the US president’s ‘Make America Great Again’ slogan, Patel said Prime Minister Narendra Modi has been saying since 2014 that India is on a new trajectory with programmes like ‘Make in India’ and ‘Atmanirbhar Bharat’.

“What does it mean? Like America, we are also talking that ‘make India big and proud again’,” Patel said.

He stated that earlier India used to import a lot of goods and products but today "we are exporting a lot of crucial and important products". PTI AO RSN MSS JP SKC RT

Topics

Acts Income Tax