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
    PM Surya Ghar Yojana 2026: How to Get Rs 78,000 Solar Subsidy & Cut Your Electricity Bill
    Japan's JCR upgrades India's sovereign rating to 'A-', cites solid growth, improved financial system
    In personal insolvency case before NCLAT, Subhash Chandra opposes formation of 5-member NCLT bench
    GoCredit Launches Free Loan App Checker to Verify If a Lending App Is Real, Fake or RBI Registered
    Rupee falls 2 paise to 94.97 against US dollar in early trade
    Senior bureaucrats attend IICA’s ‘weekend wisdom’ program initiave
    NLMC to Facilitate E-Auction of 459 RINL Land Parcels in Visakhapatnam
    CCI approves acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd. and related transactions
    CCI approves acquisition of up to 100% equity shareholding of Apollo Fertility Centre (AFCPL) and Apollo Specialty Hospitals (ASHPL) by Kids Clinic In...
    ED arrests businessman in DMF-linked money laundering case
    Rupee gains 27 paise to close at 94.95 against US dollar
    India's CAD widens to USD 4.2 bn in Q1 amid West Asia conflict: RBI data
    Andhra commercial tax collections rise by 11 per cent in August to Rs 4,983 cr
    Govt hikes windfall gains tax on petrol, diesel exports; cuts levy on ATF
    DGFT Enables Automated Issuance of Free Sale and Commerce Certificates to Promote Ease of Doing Business
    Bank unions to go on nationwide strike on Sep 11 over 5-day banking, other issues
    Stock markets close marginally lower amid higher oil prices, fresh US-Iran tensions
    Gross and Net GST revenue collections for the month of August, 2026
    A Quarter-Century of Trade. One Unbroken Connection.
    NCLT bars Subhash Chandra from alienating assets, stays Rs 6.5-cr repayment plan
❯❯
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 2, 2026
Show AI Summary
Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.
September 2, 2026
Show AI Summary
Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.
September 2, 2026
Show AI Summary
Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
Personal insolvency proceedings raised a challenge to the National Company Law Tribunal's authority to constitute a five-member bench after a split verdict. The challenge contended that the mechanism for differing views permits reference to another member or members, but does not authorise a five-member bench. The larger bench stayed the third member's order, restricted asset alienation, and suspended an order permitting settlement of personal-guarantee claims. The dispute concerned the validity of that bench, the split-verdict reference procedure, repayment-plan eligibility, and pending creditor appeals.
September 2, 2026
Show AI Summary
Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
Show AI Summary
Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
Show AI Summary
Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
Show AI Summary
E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
Show AI Summary
Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
Show AI Summary
Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.
September 1, 2026
Show AI Summary
Money-laundering investigation into alleged District Mineral Fund diversion examines purported liaison activity and asset acquisition through proceeds of crime.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged diversion of District Mineral Fund resources through the Chhattisgarh Seed Corporation. The investigation alleges siphoning of public funds by contractors in collusion with government officials and political executives. A businessman was identified as an alleged liaisoner and financial coordinator between public servants, district authorities and private vendors. Allegations also include receipt of commissions, acquisition of immovable assets from purported proceeds of crime, non-production of records, and contradictory statements during questioning.
September 1, 2026
Show AI Summary
Foreign exchange market dynamics: rupee appreciation reflected portfolio inflows, domestic growth, and possible central-bank intervention amid external pressures.
The rupee appreciated against the US dollar, supported by domestic growth, controlled fiscal slippage, portfolio-related inflows and possible Reserve Bank of India intervention. Its gains were limited by weak equity markets, rising crude oil prices and a stronger dollar. External geopolitical tensions and hawkish US monetary signals remained potential pressures. Domestic indicators showed strong economic activity, while the current account deficit widened because of a higher merchandise trade deficit. Foreign portfolio inflows continued despite investors remaining net sellers during the year.
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.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters

Senate staying up all night to push GOP budget over objections from Democrats

February 21, 2025

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Washington, Feb 21 (AP) Senators kept chugging through an all-night budget “vote-a-rama,” a crucial, if dreaded, step toward unleashing a USD 340 billion package President Donald Trump's team says it needs for mass deportations and security measures that top the Republican agenda.

If ever there was a time to watch Congress in action, this might be it. Or not. Senators have been voting for hours, as late Thursday night turned into early Friday, on one amendment after another, largely from Democrats trying to halt the package. The result will be a final push by the Republicans to use their majority power to pass it on a party-line vote, likely by morning.

“What we're doing today is jumpstarting a process that will allow the Republican Party to meet President Trump's immigration agenda,” Senate Budget Committee chair Lindsey Graham, R-S.C., said while opening the debate.

Graham said Trump's top immigration czar, Tom Homan, told senators that the administration's deportation operations are “out of money” and need more funding from Congress to detain and deport immigrants.

With little power in the minority to stop the onslaught, Democrats instead are using the all-night debate to force GOP senators into potentially embarrassing votes — including the first one, on blocking tax breaks to billionaires. It was turned back, on procedural grounds. So were many others.

“This is going to be a long, drawn-out fight,” warned Senate Democratic Leader Chuck Schumer of New York.

The package that senators are pushing forward is what Republicans view as a down payment on Trump's agenda, part of a broader effort that will eventually include legislation to extend some USD 4.5 trillion in tax breaks and other priorities. That's being assembled by House Speaker Mike Johnson in a separate budget package that also seeks up to USD 2 trillion in reductions to health care and other programs.

Trump has preferred what he calls one “big, beautiful bill,” but the White House is open to the Senate's strategy of working on the border package first, then turning to tax cuts later this year.

As voting began, the president signaled his go-ahead, posting a thank you to Senate Majority Leader John Thune “and the Republican Senate, for working so hard on funding the Trump Border Agenda.” What's in the Senate GOP package The Republican Senate package would allow up to USD 175 billion to be spent on border security, including money for mass deportation operations and building the US-Mexico border wall, in addition to a USD 150 billion boost to the Pentagon and about USD 20 billion for the Coast Guard.

But even if the Senate pushes the package to approval in the all-night session, there won't be any money flowing just yet.

The budget resolution is simply a framework that sends instructions to the various Senate committees — Homeland Security, Armed Services, Judiciary — to hammer out the details. Everything will eventually be assembled in another package, with another vote-a-rama down the road.

Sen. John Barrasso, R-Wyo., the No. 2-ranking Senate Republican, said GOP lawmakers are acting quickly to get the administration the resources they have requested and need to curb illegal border crossings.

“The budget will allow us to finish the wall. It also takes the steps we need toward more border agents,” Barrasso said. “It means more detention beds. ... It means more deportation flights.” Republicans insist the whole thing will be paid for, rather than piled onto debt, with potential spending cuts and new revenues.

The committees are expected to consider rolling back the Biden administration's methane emissions fee, which was approved by Democrats as part of climate change strategies in the Inflation Reduction Act, and hoping to draw new revenue from energy leases as they aim to spur domestic energy production.

In fact, the only amendment accepted after several hours of debate was a Republican effort to fend off criticism the package would be paid for by cutting safety net programs. The amendment from Sen. Dan Sullivan, R-Alaska, said Medicaid and Medicare would be strengthened during the budget process.

Democrats are ready for battle First up from Democrats was a vote to prevent tax breaks for billionaires — an amendment that was repeated in various forms throughout the night.

Democrats argue that the GOP tax cuts approved in 2017 flowed to the wealthiest Americans, and extending them as Trump wants Congress to do later this year would prolong the giveaway. Even though the billionaire amendments failed, they picked up some Republican support. Sen. Susan Collins of Maine voted for several of them, and Sen. Josh Hawley of Missouri voted for another.

Schumer launched a strategy earlier this week to use the budget debate to focus on both the implications of the tax policy and the Trump administration's Department of Government Efficiency, which is slashing across the federal government.

It's a better approach for Democrats than arguing against tougher border security and deportations, which divides the party.

By midnight, senators had processed at least a dozen amendments.

Sen. Patty Murray of Washington, the top Democrat on the Senate Appropriations Committee, said the single biggest driver of the national debt since 2001 has been a series of Republican-led tax cuts.

“And you'll never guess what our Republican colleagues on the other side of the aisle are focused on right now, nothing to lower the cost of eggs, it's actually more Republican tax cuts,” Murray said.

She called the budget plan a “roadmap for painful cuts to programs families count on each and every day, all so they can give billionaires more tax cuts.” Congress is racing itself The budget resolution is setting up what's called the reconciliation process, which used to be rare, but is now the tool often used to pass big bills on party-line votes when one party has control of the White House and Congress, as Republicans do now.

But Republicans are arguing with themselves over how to proceed. The House is marching ahead on its “big, beautiful bill,” believing they have one chance to get it right. The Senate views its two-bill strategy as more practical, delivering on border security first, then turning to taxes later.

Budget rules allow for passage by a simple majority vote, which is key in the Senate, where it typically takes 60 votes to break a filibuster on big items. During Trump's first term, Republicans used the reconciliation process to pass GOP tax cuts in 2017. Democrats used reconciliation during Joe Biden's presidency to approve COVID-19 relief and the Inflation Reduction Act.

Trump appears to be stirring the fight, pitting Republicans in the House and Senate against each other to see which one delivers fastest. (AP) NSA NSA

Topics

Acts Income Tax