Just a moment...

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 characters0/2000
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.
RelevanceDefaultDate
    Assam Cabinet okays funds for land acquisition for Guwahati satellite city
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case; sent to 7 days' custody
    Sales Tax Assistant Commissioner arrested for demanding bribe of Rs 8 lakh
    Net direct tax kitty grows 23 pc to Rs 8.11 lakh cr on slower refunds, higher non-corp taxes
    Delhi court sets aside summon order in cheque bounce case
    BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra
    PM GatiShakti National Master Plan Enables Integrated and Coordinated Infrastructure Planning
    GeM Strengthens Participation of MSMEs, Startups, Women Entrepreneurs and SHGs
    Net direct tax collection grows 23 pc to Rs 8.11 lakh cr so far this fiscal
    National Accreditation Board for Testing and Calibration Laboratories Launches India’s First Accreditation Scheme for Mobile Food Testing Laboratori...
    Commerce and Industry Minister Shri Piyush Goyal awards top buyers and sellers on GEM platform at the 10th Anniversary celebrations of GEM
    PolicyBazaar working with partners to fast-track Assam flood insurance claims
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case
    ED arrests Chhattisgarh Congress leader in liquor scam case
    Register FIR in cases of missing persons immediately, irrespective of age or gender: SC
    ED freezes 182 bank accounts, seizes Rs 1 cr cash in connection to Rs 2k crore chit-fund scam
    Rupee falls 8 paise to 95.38 against US dollar in early trade
    Punjab Assembly passes nine key bills
    Mumbai court denies nod to Nirav Modi's sister to record her statement via video link in PNB case
    'Organised loot' of Rs 2.86 lakh crore from people's pockets: Surjewala accuses govt
❯❯
MaximizeMaximizeMaximize
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 SummariesHide All Summaries
    August 11, 2026
    Show AI Summary
    Land acquisition funding and regulatory approvals advance satellite-city development, tax relief, identity enrolment, employment verification, and jail reform.
    Assam Cabinet approvals include first-phase funding for land acquisition and development of the Aerotropolis Satellite City Project and a lease deed for a hotel supporting the Jagiroad semiconductor ecosystem. Measures also provide Aadhaar enrolment relaxation for Moran and Matak communities, zero agricultural tax up to the prescribed net-income threshold, OBC Non-Creamy Layer certificates, and trainee and graduate-assistance funding. Government jobs will be provisionally held pending police verification, with automatic confirmation where no report is submitted within six months. Jail rules will be amended to promote non-discrimination, sanitation, security and fair work allocation.
    August 11, 2026
    Show AI Summary
    Money-laundering investigation into alleged liquor-sale proceeds led to arrest and custodial questioning amid contested political allegations.
    Money-laundering investigation concerning an alleged liquor scam led to the Enforcement Directorate's arrest of Ramgopal Agrawal and seven days' custodial remand under the Prevention of Money Laundering Act. The agency alleged his connection with proceeds of crime, non-attendance despite multiple summonses, and evasiveness during questioning. Allegations concern purported control of the state excise department, illegal liquor sales, and sharing of commissions. The Congress has denied the allegations and described the investigation as politically motivated.
    August 11, 2026
    Show AI Summary
    GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
    Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
    August 11, 2026
    Show AI Summary
    Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
    Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
    August 11, 2026
    Show AI Summary
    Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
    Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
    August 11, 2026
    Show AI Summary
    Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
    Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
    August 11, 2026
    Show AI Summary
    Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation.
    PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
    August 11, 2026
    Show AI Summary
    MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct.
    GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
    August 11, 2026
    Show AI Summary
    Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
    Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
    August 11, 2026
    Show AI Summary
    Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
    NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
    August 11, 2026
    Show AI Summary
    Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing.
    Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.
    August 11, 2026
    Show AI Summary
    Expedited flood insurance claims require insurers and partners to simplify documentation and provide immediate service to affected policyholders.
    Expedited insurance-claim handling for flood-affected policyholders in Assam is being pursued through simplified documentation, prompt settlement and immediate service response. PolicyBazaar is coordinating with insurer partners to reduce processing delays. The Insurance Regulatory and Development Authority of India has directed insurers, including life insurers and standalone health insurers, to mobilise resources for immediate assistance, alongside governmental efforts for expeditious and hassle-free claim disposal.
    August 11, 2026
    Show AI Summary
    Money laundering investigation in alleged liquor scam leads to arrest and proposed custodial-remand proceedings under anti-money-laundering law.
    Money laundering investigation concerning an alleged liquor scam in Chhattisgarh led to the arrest of Congress leader Ramgopal Agrawal under the Prevention of Money Laundering Act. Custodial remand is to be sought for interrogation. The allegations concern an alleged syndicate that purportedly controlled the state excise department, enabled illegal liquor sales and distributed resulting commissions. Chargesheets name political figures, excise officials and officials associated with the Chief Minister's Office.
    August 11, 2026
    Show AI Summary
    Money-laundering investigation into an alleged liquor scam leads to arrest and proposed custodial interrogation under the prevention law.
    Money-laundering investigation under the Prevention of Money Laundering Act concerns an alleged liquor scam in Chhattisgarh. A former state political party treasurer has been arrested for alleged involvement and is to be produced before a local court for a request for custodial interrogation. The alleged scheme is stated to have involved control of the state excise department by a criminal syndicate, with multiple accused named in six chargesheets.
    August 11, 2026
    Show AI Summary
    Immediate FIR registration for every missing person is mandatory, with missing children treated as suspected kidnapping or abduction cases.
    Immediate FIR registration is required whenever information is received that any person is missing, irrespective of age or gender, without preliminary inquiry. Missing-person FIRs must include relevant provisions concerning kidnapping and trafficking. A missing child must be treated from the outset as a suspected case of kidnapping or abduction. States and Union Territories may face contempt action for non-compliance. Traced children should ordinarily be restored to their families within 24 hours unless trafficking or exploitation by the family is suspected.
    August 11, 2026
    Show AI Summary
    Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
    Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.
    August 11, 2026
    Show AI Summary
    Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
    Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
    August 10, 2026
    Show AI Summary
    GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
    Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
    August 10, 2026
    Show AI Summary
    Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
    Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
    August 10, 2026
    Show AI Summary
    Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
    Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.

    News

    Back

    All News

    Showing Results for :
    Reset Filters
      No Records Found

      News

      Back

      All News

      whatsappJoin Channel
      Showing Results for : Reset Filters
      Customs & Trade

      As US, China begin trade talks in Geneva, Trump's tariff hammer looks less mighty than he claims

      May 10, 2025

      Contents
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Washington, May 10 (AP) The way President Donald Trump sees it, beating China in a trade war should be easy.

      After all, his logic goes, the Chinese sell Americans three times as much stuff as Americans sell them. Therefore, they have more to lose. Inflict enough pain, like the combined 145% taxes he slapped on Chinese imports last month, and they'll beg for mercy.

      Trump's treasury secretary, Scott Bessent has confidently compared Beijing to a card player stuck with a losing hand. “They're playing with a pair of twos,'' he said.

      Somebody forgot to tell China. So far, the Chinese have refused to fold under the pressure of Trump's massive tariffs. Instead, they have retaliated with triple-digit tariffs of their own.

      “All bullies are just paper tigers,'' the Chinese Foreign Ministry declared in a video last week. “Kneeling only invites more bullying.'' The stakes are high between the world's two biggest economies whose trade topped $660 billion last year. Bessent and Trump's top trade negotiator, Jamieson Greer, are heading to Geneva this weekend for initial trade talks with top Chinese officials. Trump suggested Friday that the U.S. could lower its tariffs on China, saying in a Truth Social post that “80% Tariff seems right! Up to Scott.? While businesses and investors welcome any easing of tensions, the prospects for a quick and significant breakthrough appear dim.

      “These are talks about talks, and China may be coming to assess what's on the table — or even just to buy time,” said Craig Singleton, senior China fellow at the Washington-based think tank Foundation for Defense of Democracies. “There's no shared roadmap or clear pathway to de-escalation.” But if the two countries eventually agree to scale back the massive taxes — tariffs — they have slapped on each other's goods, it would relieve world financial markets and companies on both sides of the Pacific Ocean that depend on US-China trade.

      “The companies involved in this trade on both sides just cannot afford waiting anymore,” said economist John Gong of the University of International Business and Economics in Beijing. In a worst-case scenario, China could walk away from the negotiations if it feels the US side isn't treating China as an equal or isn't willing to take the first step to deescalate, Gong said.

      “I think if (Bessent) doesn't go into this negotiation with this kind of mindset, this could be very difficult,” he said.

      For now, the two countries can't even agree on who requested the talks. “The meeting is being held at the request of the U.S. side,'' Chinese Foreign Ministry spokesperson Lin Jian said Wednesday. Trump disagreed. “They ought to go back and study their files,” he said.

      Trump's faith in tariffs meet economic reality What seems clear is that Trump's favorite economic weapon — import taxes, or tariffs — has not proved as mighty as he'd hoped.

      “For Trump, what's happened here is that the rhetoric of his campaign has finally had to face economic reality,” said Jeff Moon, a trade official in the Obama administration who now runs the China Moon Strategies consultancy. “The idea that he was going to bring China to its knees in terms of tariffs was never going to work.'' Trump views tariffs an all-purpose economic tool that can raise money for the US Treasury, protect American industries, lure factories to the United States and pressure other countries to bend to his will, even on issues such as immigration and drug trafficking.

      He used tariffs in his first term and has been even more aggressive and unpredictable about imposing them in his second. He's slapped a 10% tariff on almost every country in the world, blowing up the rules that had governed global trade for decades.

      But it's his trade war with China that has really put markets and businesses on edge. It started in February when he announced a 10% levy on Chinese imports. By April, Trump ratcheted up the taxes on China to a staggering 145%. Beijing upped its tariff on American products to 125%.

      Trump's escalation sent financial markets tumbling and left U.S. retailers warning that they might run out of goods as U.S.-China trade implodes. U.S. consumers, worried about the prospect of empty shelves and higher prices, are losing confidence in the economy.

      “This was not very well planned,'' said Zongyuan Zoe Liu, senior fellow in China studies at the Council on Foreign Relations. “I don't think he intended to have the tariffs escalate into this chaos.'' China was ready for a rematch When Trump hit Chinese imports with tariffs during his first term, he charged that Beijing used unfair tactics, including cybertheft, to give its technology firms an edge.

      The two countries reached a truce — the so-called Phase One agreement — in January 2020; China agreed to buy more U.S. products, and Trump held off on even higher tariffs. But they didn't resolve the big issues dividing them, including China's subsidies of homegrown tech firms.

      China was ready for a rematch when Trump returned to the White House. It had worked to reduce its dependence on America's massive market, cutting the U.S. share of its exports to 15% last year from more than 19% in 2018, according to Dexter Roberts of the Atlantic Council.

      Beijing is confident that the Chinese people are more willing than Americans to endure the fallout from a trade war, including falling exports and shuttered factories. “For China, it's painful, but it's also imperative to withstand it, and it's prepared to cope with it,'' said Sun Yun, director of the China program at the Stimson Center.

      Dependency works both ways In addition to miscalculating Chinese resolve, the Trump administration may have underestimated how much America relies on China.

      For decades, Americans have come to depend on Chinese factories. They produce 97% of America's imported baby carriages, 96% of its artificial flowers and umbrellas, 95% of its fireworks, 93% of its children's coloring books and 90% of its combs.

      “Without us, what do they have to sell?” Chinese toymaker Cheng Zhengren told Beijing News. “Their shelves would be empty.” The showerhead company Afina last month reported on an experiment suggesting that American consumers have little willingness to pay more for American-made products. Afina makes a filtered showerhead in China and Vietnam that retails for $129. Making the same product in America would lift the price to $239. When customers on the company's website were given a choice between them, 584 chose the cheap Asian one; not one opted for the costlier U.S.-made version.

      And it's not just consumers who depend on China. America's own factories do, too. The National Association of Manufacturers calculates 47% of U.S. imports from China in 2023 were “manufacturing inputs'' — industrial supplies, auto parts and capital equipment that American manufacturers used to make other their own products domestically. So Trump's tariffs risk raising costs and reducing supplies that U.S. factories rely on, making them less competitive.

      Louise Loo, China economist at Oxford Economics, a consulting firm, said that China's ability to reduce its dependence on the U.S. market in recent years means “they're probably likely to be able to find substitutes for buyers, much easier than the U.S. side will be able to find suppliers.” Still, China won't emerge from a trade war unscathed either. Citing the impact of the trade war, the International Monetary Fund last month downgraded the outlook for the Chinese economy this year and next.

      “China needs the United States of America,” White House press secretary Karoline Leavitt said at Friday's news briefing. “They need our markets. They need our consumer base. And Secretary Bessent knows that he's going to Switzerland this weekend with the full support and confidence and trust of the president here at home.” Indeed Moon, who also served as a diplomat in China, noted the tariffs cut both ways: “Both of them are highly dependent on bilateral trade. They have put themselves in a corner.'' Jens Eskelund, president of the EU Chamber of Commerce in China, expressed relief that U.S. and Chinese officials were meeting.

      “So good,'' he said, pointing to the Vatican conclave that just picked a new pope as inspiration. “Lock them in a room and then hopefully white smoke will come out.” (AP) NSA NSA

      Topics

      ActsIncome Tax