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    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
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    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
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    August 6, 2026
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    Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
    Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
    August 6, 2026
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    Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
    Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
    August 6, 2026
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    Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
    Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
    August 6, 2026
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    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
    Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
    August 6, 2026
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
    NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
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    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
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    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
    August 6, 2026
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    Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
    The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
    August 6, 2026
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    Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.

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      Trump's Oval Office thrashing of Zelenskyy shows limits of Western allies' ability to sway US leader

      March 1, 2025

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      Washington, Mar 1 (AP) All it took was 90 seconds for weeks of tortured diplomacy to unwind in spectacular fashion.

      President Donald Trump's Oval Office thrashing of Ukraine's Volodymyr Zelenskyy on Friday laid bare the limits of a full-court press by America's allies aimed at reshaping Trump's determination to end Russia's invasion even if the terms are not to Ukraine's liking.

      It also stressed the profound ways Trump feels emboldened to redirect US foreign policy priorities toward his “America First” agenda in ways that extend well beyond those of his tumultuous first term.

      The sudden blowup was the most heated public exchange of words between world leaders in the Oval Office in memory, as the usual staid work of diplomacy descended into finger-pointing, shouting and eye-rolling.

      The encounter left the future of the US-Ukraine relationship, and Kyiv's ability to defend itself in the brutal conflict with Russia, in mortal jeopardy.

      “You either make a deal or we are out,” Trump told Zelenskyy, underscoring the American leader's plans to dictate a swift end to the war or leave its longtime ally to continue the fight without its strongest backer.

      The stunning episode capped a week of what turned out to be largely futile efforts by US allies to paper over differences between Washington and Kyiv and to try to steer Trump away from his flirtations with Moscow.

      On Monday, French President Emmanuel Macron huddled with Trump to lay the groundwork for an eventual European-led peacekeeping force in Ukraine aimed at deterring future Russian aggression and to encourage the US president to be more sceptical of Vladimir Putin.

      But even as Trump and Macron greeted each other with a vise-like grip, the US was splitting with its European allies at the United Nations by refusing to blame Russia for its invasion of Ukraine in a series of resolutions marking the three-year anniversary of the war.

      On Thursday, British Prime Minister Keir Starmer visited Washington and appealed to Trump for a US “backstop” for European nations who would provide front-line security for Ukraine.

      He was in essence looking for insurance that, should a peace deal be reached, Russia won't restart the fighting in the future. Starmer brought flattery and a state visit invitation from King Charles III to soften the ask.

      The approach seemed to work, as Trump struck a more conciliatory tone toward Ukraine, calling America's support for the country against Russia's invasion “a very worthy thing to do” and disclaiming any memory that he had called the Ukrainian leader a “dictator”.

      But Trump also brushed aside Putin's past broken diplomatic promises, claiming they occurred under different presidents, and saying the Russian leader had never violated a commitment to him.

      It came as his aides were planning a series of negotiating sessions with Russian officials to lay the groundwork for a potential meeting between Trump and Putin in the coming weeks.

      All the while, Trump was focused on securing a financial stake in Ukraine's critical minerals to recoup the tens of billions the U.S. has given to Kyiv to defend itself.

      Zelenskyy, meanwhile, wanted more than Washington's vague promises that the US would work to preserve its economic interest in Ukraine under the agreement and pushed for more concrete security guarantees.

      But Trump would not budge, and US officials repeatedly said Zelenskyy would not be welcome to meet with the president to discuss Trump's push for negotiations with Russia until it was signed.

      After weeks of browbeating, Zelenskyy's government on Wednesday formally agreed to the proposal, clearing the path for Friday's meeting.

      It started off cordially enough, as Trump and Zelenskyy spoke politely, even with admiration, of one of another for the first half-hour of the meeting. Trump even suggested he would continue some military assistance to Ukraine until he could secure an enduring peace deal with Russia.

      But when the Ukrainian leader raised alarm about trusting any promises from Putin to end the fighting, Vice President JD Vance rebuked him for airing disagreements with Trump in public. It instantly shifted the tenor of the conversation.

      Zelenskyy grew defensive, and Trump and his vice president blasted him as ungrateful and “disrespectful” and issued stark warnings about future American support.

      South Carolina Sen. Lindsey Graham, both a defense hawk and a strident ally of Trump's, said he had warned Zelenskyy ahead of the meeting “not to take the bait” in his dealings with Trump, who has repeatedly shown a penchant for throwing criticism but a deep resistance to receiving it.

      It was Vance — a longtime critic of American support for Ukraine — who dangled it, when he insisted diplomacy was the only pathway forward.

      “What kind of diplomacy, JD, you are speaking about?” Zelenskyy said, listing Russia's past violations of ceasefires. “What do you mean?” “I'm talking about the kind of diplomacy that's going to end the destruction of your country,” Vance responded before tearing into the Ukrainian leader. “President, with respect, I think it's disrespectful for you to come into the Oval Office to try to litigate this in front of the American media.” Trump then let loose, warning the Ukrainian leader, “You're gambling with World War III, and what you're doing is very disrespectful to the country, this country that's backed you far more than a lot of people say they should have.” At another point, Trump declared himself “in the middle”, seeming to formally break from years of American support for Ukraine. He went on to deride Zelenskyy's “hatred” for Putin as a roadblock to peace.

      “You see the hatred he's got for Putin,” Trump said. “That's very tough for me to make a deal with that kind of hate.” “It's going to be a very hard thing to do business like this,” Trump said to Zelenskyy as the two leaders talked over each other.

      The episode was just the latest instance of Trump's brazen moves to shift long-held American policy positions in his first six weeks back in office, portending even more uncertainty ahead for longtime American allies and partners who have already felt pressed to justify their place in Trump's eyes.

      It comes just weeks after Trump floated a permanent relocation of Palestinians in Gaza and an American takeover of the territory, and as he has doubled down on plans to put stiff tariffs on goods from Mexico and Canada starting next week.

      After the Oval Office dustup, Zelenskyy was asked to leave the White House by top Trump advisers — scrapping plans for a lunch, a joint press conference and the signing of the economic agreement, even as the Ukrainian leader and his aides pushed for a “reset” on the meeting.

      Trump later told reporters he didn't want to “embolden” the Ukrainian leader if he didn't want “peace” with Russia — flipping what Ukraine had seen as an inducement for security guarantees into a cudgel.

      “You can't embolden somebody who does not have the cards,” Trump said.

      After the disastrous encounter, Zelenskyy appeared on Fox News on Friday evening and told Bret Baier that his public spat with Trump and Vance was “not good for both sides”.

      But Zelenskyy said Trump — who insists Putin is ready to end the three-year grinding war — needs to understand that Ukraine can't change its attitudes toward Russia on a dime.

      Zelenskyy added that Ukraine won't enter peace talks with Russia until it has security guarantees against another offensive.

      “Everybody (is) afraid Putin will come back tomorrow,” Zelenskyy said. “We want just and lasting peace.” “It's so sensitive for our people,” Zelenskyy said. “And they just want to hear that America (is) on our side, that America will stay with us. Not with Russia, with us. That's it.” Zelenskyy acknowledged that without US support, his country's position would grow “difficult”.

      After repeatedly declining opportunities to apologise to Trump, Zelensky closed his Fox appearance with a sheepish expression of remorse as he struggled with the reality of Trump's new direction in Washington: “Sorry for this." (AP) PY PY

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