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    India-UK CETA takes effect: First zero-duty Indian coffee, jewellery consignments reach UK shores
    Govt to replace Ordinance by introducing Income-tax (Amendment) Bill in Monsoon session
    Foreign assets, income details for 2022-24 now available under AIS on income tax portal
    L-G Manoj Sinha reviews donation management systems at J-K's Vaishno Devi shrine
    Bandhan Bank launches EPFO-integrated PF payment service for businesses
    ESDS Launches Swaraj Nandi and Swaraj Hansa, Two Sovereign Enterprise Security Platforms Built Entirely in India
    ED raids in Bengal, 3 other states in illegal Bangladeshis, Rohingyas infiltration case
    ED raids in 4 states in illegal Bangladeshis, Rohingyas infiltration case
    TCS opens AI-focused Gemini experience centre in Kolkata
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    July 16, 2026
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    Zero-duty India-UK trade under CETA begins with jewellery and coffee consignments, supported by exporter compliance guidance.
    India-UK CETA introduced a low- or zero-tariff regime covering about 99 per cent of tariff lines for Indian exports to the United Kingdom. Initial zero-duty jewellery and coffee consignments reached the UK under the agreement. CETA is intended to improve market competitiveness, strengthen supply chains and support businesses, exporters, importers and investors. A dedicated facilitation forum and a guide to UK import standards and regulatory requirements support Indian exporters, particularly small and medium enterprises, in navigating the post-CETA trading regime.
    July 16, 2026
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    Foreign investor tax exemptions on government securities are proposed to continue, supporting sovereign debt market liquidity and capital inflows.
    Income-tax exemption for foreign investors in government securities is proposed to continue through the Income-tax (Amendment) Bill, 2026, replacing the corresponding ordinance. The ordinance exempted interest income and capital gains from the sale, exchange or transfer of government securities by foreign investors, effective from 1 April. The measure seeks to attract foreign capital, deepen the sovereign debt market and improve liquidity amid global economic volatility. The legislative agenda also includes MSME reforms concerning delayed-payment redressal, enforcement of arbitral awards and State flexibility in constituting facilitation councils.
    July 16, 2026
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    Foreign asset reporting requires complete Schedule FA and Schedule FSI disclosures despite limited information displayed in the Annual Information Statement.
    Annual Information Statement records for eligible taxpayers include foreign assets and foreign-source income information received through the Automatic Exchange of Information framework. The information is intended to facilitate accurate tax compliance and is not a scrutiny or investigation mechanism. As the displayed data is limited to information received from partner jurisdictions and is not exhaustive, taxpayers must correctly and completely disclose all foreign assets and foreign-source income in Schedule FA and Schedule FSI, whether or not such information appears in the Annual Information Statement.
    July 16, 2026
    Show AI Summary
    Donation management safeguards require transparent accounting, secure precious-metal handling, audits and adherence to prescribed banking and statutory norms.
    Donation-management governance at the Vaishno Devi shrine was reviewed with emphasis on transparency, accountability and compliance with standard operating procedures. The review covered collection, counting, accounting, custody and utilisation of offerings, supported by verification procedures, surveillance, banking safeguards and periodic audits. Security protocols also govern the handling, storage, transportation, processing and refining of precious-metal offerings. The review took place amid a pending complaint alleging irregularities in silver offerings, with complete records sought regarding action taken.
    July 16, 2026
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    EPFO-integrated provident fund payments streamline statutory compliance through digital banking, with real-time confirmations and instant challan downloads for businesses.
    EPFO-integrated provident fund payment service enables business customers to initiate statutory PF payments through the EPFO portal and complete transactions using the bank's internet banking platform. Real-time transaction confirmations and instant challan downloads support faster processing, cash-flow management and timely compliance with EPFO payment requirements.
    July 16, 2026
    Show AI Summary
    Privileged access governance and explainable security monitoring support auditable, sovereign enterprise cybersecurity across private and air-gapped deployments.
    Swaraj Nandi provides privileged-access management through credential vaulting, automated rotation, Zero-Trust approvals, multi-factor authentication, session recording and audit reporting. Swaraj Hansa provides AI-assisted security information and event management by collecting, correlating and triaging security signals with explainable alerts and human-owned decisions. Both platforms support on-premise, private-cloud and relevant air-gapped deployment models, and their compliance architecture is mapped to the RBI IT Framework, SEBI CSCRF, DPDP Act, PCI-DSS, ISO 27001 and NIST CSF.
    July 16, 2026
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    Money-laundering investigation targets alleged foreign-funded network facilitating illegal infiltration, forged identity documents and economic rehabilitation of immigrants.
    A money-laundering investigation examined an alleged syndicate facilitating illegal infiltration, forged Indian identity documents and settlement of Bangladeshi nationals and Rohingyas. Investigators alleged that public charitable trusts receiving foreign contributions channelled funds through multiple bank accounts, mule accounts and layered transactions to support economic rehabilitation through cash assistance, employment and income-generating arrangements. Searches were conducted under the Prevention of Money Laundering Act.
    July 16, 2026
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    Money-laundering investigation examines alleged foreign-funded networks supporting illegal infiltration, forged documents, and economic settlement of migrants.
    A money-laundering investigation concerns an alleged network facilitating illegal entry and settlement of Bangladeshi and Rohingya nationals. The alleged scheme involved forged identity and travel documents, charitable trusts receiving overseas contributions, and diversion of funds through bank accounts, mule accounts and layered transactions. Suspected fund use included settlement support, documentation, employment, cash assistance and income-generating assets. Searches examined the alleged infiltration, documentation and financial-support network.
    July 16, 2026
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    Agentic AI innovation centre enables consumer businesses to co-create, test and scale enterprise AI solutions across operational functions.
    TCS launched a Gemini Experience Centre in Kolkata with Google Cloud to enable consumer businesses to co-create, test and scale AI-led solutions. The centre showcases agentic AI applications for store operations, supply-chain management, omni-channel retail and customer service, serving retail, consumer packaged goods, travel, tourism and hospitality enterprises. The initiative uses Gemini Enterprise-based industry- and context-aware AI agents and seeks to accelerate agentic AI adoption and support movement from AI pilots to enterprise-scale deployment.
    July 16, 2026
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    Cost Inflation Index enables inflation-adjusted long-term capital gains calculations through indexed acquisition cost for eligible capital asset transfers.
    The Cost Inflation Index for financial year 2026-27 is 384 for computing inflation-adjusted long-term capital gains on transfers of capital assets, including immovable property, securities and jewellery. It is used to determine indexed cost of acquisition by adjusting purchase cost for inflation. Long-term classification generally requires holding exceeding 36 months, with stated periods of 24 months for immovable property and unlisted shares and 12 months for listed securities.
    July 16, 2026
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    India-EU industrial and technology cooperation advances through trade facilitation, resilient supply chains, digital innovation and expanded market access.
    India-EU industrial and technology cooperation was advanced through engagements addressing industrial collaboration, technology partnerships, bilateral trade opportunities and business-to-business cooperation. Discussions covered trade facilitation, investment flows, supply-chain resilience, digital innovation, competitiveness and regulatory challenges. The interactions emphasised industry-led growth, greater market access for Indian enterprises and innovation-driven partnerships under the Trade and Technology Council framework.
    July 16, 2026
    Show AI Summary
    Preferential India-UK trade framework introduces broad zero-duty export access, self-certified origin documentation, and social-security contribution relief for temporary professionals.
    India-United Kingdom CETA entered into force with preferential tariff treatment, including zero-duty access in the United Kingdom for nearly 99 per cent of India's exports. The Agreement covers goods, services and cooperation in customs, digital trade, financial services, telecommunications, intellectual property and professional services. The associated Agreement on Social Security exempts Indian professionals on temporary United Kingdom assignments from double social-security contributions for up to five years. Rules of Origin certification was operationalised through self-certified Certificates of Origin issued on the eCoO 2.0 platform.
    July 16, 2026
    Show AI Summary
    Labour market indicators showed stable overall participation, employment and unemployment, with marginal urban improvement and softer rural unemployment.
    Monthly labour-market estimates for persons aged 15 years and above, compiled under the Current Weekly Status approach, show stable overall labour-force participation, worker population ratio and unemployment rate in June 2026. Urban labour-force participation and worker population ratio improved marginally, while rural participation and employment remained stable. Female labour-force participation was broadly stable month-on-month. Rural unemployment eased slightly, urban unemployment rose marginally from the preceding month, and urban unemployment declined on a year-on-year basis.
    July 16, 2026
    Show AI Summary
    Competition clearance governs full acquisition of a data-centre provider alongside co-investor economic interests in the transaction.
    Competition approval concerns Opal Bidco Pte. Ltd.'s acquisition of the entire shareholding in STT GDC Pte. Ltd., a data-centre provider. The transaction also provides for specified co-investors to acquire economic interests in STT GDC on a see-through basis. STT GDC operates in India through an indirect subsidiary and is among multiple data-centre participants active in India.
    July 16, 2026
    Show AI Summary
    Windfall tax on petroleum exports revises diesel and aviation fuel levies while reducing the petrol export levy.
    Special Additional Excise Duty on petroleum-product exports was revised from 16 July 2026, increasing the levy on diesel and aviation turbine fuel exports while reducing it on petrol exports. Duty rates on petrol and diesel cleared for domestic consumption remained unchanged. The windfall tax framework seeks to support domestic fuel availability and discourage exporters from benefiting from differences between domestic and global fuel prices during elevated crude-oil prices.
    July 15, 2026
    Show AI Summary
    Duty-free market access under the India-UK trade pact expands exports while preserving safeguards for procurement and policy space.
    The India-UK Comprehensive Economic and Trade Agreement provides duty-free access for nearly 99 per cent of Indian exports and includes reciprocal government-procurement access subject to safeguards. India retains MSME preferences, limits covered procurement to selected central entities, excludes strategic sectors, and applies minimum contract thresholds. The agreement preserves compulsory licensing and permits withdrawal of certain concessions if a future UK carbon tax adversely affects Indian exports. Its gender, SME, environment, and labour chapters contain no dispute-settlement provisions.
    July 15, 2026
    Show AI Summary
    India-UK trade agreement expands duty-free market access and tariff reductions for exports, services, manufacturing and small enterprises.
    India-UK Comprehensive Economic and Trade Agreement (CETA) is stated to provide duty-free access in the UK market for 99 per cent of Indian products and to reduce or eliminate UK import tariffs across key product categories. It is expected to support Karnataka exports in manufacturing, agricultural produce, processed food, electronics, aerospace and medical devices, with certain tariff reductions phased out over time. Mode 1 services provisions are identified as beneficial to Bengaluru's IT industry, while awareness programmes and investment roadshows are proposed to help exporters and attract investment.
    July 15, 2026
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    Foreign investment screening cooperation advances investment flows alongside trade, technology, supply-chain resilience and prospective investment-protection commitments.
    India and the European Union concluded a work programme on foreign direct investment screening, exchanging best practices to facilitate investment flows. Trade and Technology Council cooperation addresses market access, standards harmonisation, supply-chain requirements, deep-tech innovation and critical dependencies. The parties also discussed free trade agreement ratification, World Trade Organization reform, and prospective investment-protection and geographical-indications agreements. The Council provides an institutional mechanism for cooperation on trade, trusted technology and economic security.
    July 15, 2026
    Show AI Summary
    Balance of payments reporting shows a current account surplus despite a wider trade deficit and portfolio investment outflows.
    Balance of payments data for April-May 2026 records a current account surplus, supported by increased net services receipts, higher inward remittances and a marginal reduction in net income outgo. The merchandise trade deficit widened as imports rose more than exports. The overall balance of payments moved into deficit, while net foreign direct investment increased and net foreign portfolio investment recorded a larger net outflow.
    July 15, 2026
    Show AI Summary
    Online betting money laundering investigation examines alleged proxy accounts, simulated salary payments, cross-border routing, and custodial investigation of the money trail.
    Money-laundering allegations concerning an online betting syndicate involve purported routing of betting proceeds through fictitious or proxy bank accounts, simulated salary payments, share-capital investments, and foreign institutional channels. An Ebix Group chairman was arrested in connection with the alleged money trail and remanded for investigation. The investigating agency states that prosecution complaints have been filed and that separate state economic-offence and central investigations address connected cases. Political-link allegations were denied, and the stated laundering assertions remain under investigation.

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      President Donald Trump pushes ahead with his maximalist immigration campaign in face of LA protests

      June 10, 2025

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      Washington, Jun 10 (AP) Donald Trump made no secret of his willingness to exert a maximalist approach to enforcing immigration laws and keeping order as he campaigned to return to the White House. The fulfillment of that pledge is now on full display in Los Angeles.

      The president has put hundreds of National Guard troops on the streets to quell protests over his administration's immigration raids, a deployment that state and city officials say has only inflamed tensions. Trump called up the California National Guard over the objections of Democratic Governor Gavin Newsom — the first time in 60 years a president has done so — and is deploying active-duty troops to support the guard.

      By overriding Newsom, Trump is already going beyond what he did to respond to Black Lives Matter protests in 2020, when he warned he could send troops to contain demonstrations that turned violent if governors in the states did not act to do so themselves. Trump said in September of that year that he "can't call in the National Guard unless we're requested by a governor" and that "we have to go by the laws." But now, the past and current president is moving swiftly, with little internal restraint to test the bounds of his executive authority in order to deliver on his promise of mass deportations. What remains to be seen is whether Americans will stand by him once it's operationalised nationwide, as Trump looks to secure billions from Congress to dramatically expand the country's detention and deportation operations.

      For now, Trump is betting that they will.

      "If we didn't do the job, that place would be burning down," Trump told reporters Monday, speaking about California. "I feel we had no choice. ... I don't want to see what happened so many times in this country." A crisis of Trump's own making The protests began to unfold on Friday as federal authorities arrested immigrants in several locations throughout the sprawling city, including in the fashion district of Los Angeles and at a Home Depot. The anger over the administration's actions quickly spread, with protests in Chicago and Boston as demonstrations in the southern California city also continued on Monday.

      But Trump and other administration officials remained unbowed, capitalising on the images of burning cars, graffiti and Mexican flags — which, while not dominant, started to become the defining images of the unrest — to bolster their law-and-order cause.

      Leaders in the country's most populous state were similarly defiant.

      California officials moved on Monday to sue the Trump administration, with the state's attorney general, Rob Bonta, arguing that the deployment of troops "trampled" on the state's sovereignty and pushing for a restraining order. The initial deployment of 300 National Guard troops was expected to quickly expand to the full 2,000 that were authorised by Trump.

      The state's senior Democratic senator, Alex Padilla, said in an interview that "this is absolutely a crisis of Trump's own making." "There are a lot of people who are passionate about speaking up for fundamental rights and respecting due process, but the deployment of National Guard only serves to escalate tensions and the situation," Padilla told The Associated Press. "It's exactly what Donald Trump wanted to do." Padilla slammed the deployment as "counterproductive" and said the Los Angeles Sheriff's Department was not advised ahead of the federalisation of the National Guard. His office has also pushed the Pentagon for a justification on the deployment, and "as far as we're told, the Department of Defense isn't sure what the mission is here," Padilla added.

      Candidate Trump previewed immigration strategy during campaign Much of this was predictable.

      During his 2024 presidential campaign, Trump pledged to conduct the largest domestic deportation operation in American history to expel millions of immigrants in the country without legal status. He often praised President Dwight D Eisenhower's military-style immigration raids, and the candidate and his advisers suggested they would have broad power to deploy troops domestically to enact Trump's far-reaching immigration and public safety goals.

      Trump's speedy deployment in California of troops against those whom the president has alluded to as "insurrectionists" on social media is a sharp contrast to his decision to issue no order or formal request for National Guard troops during the insurrection at the US Capitol on January 6, 2021, despite his repeated and false assertions that he had made such an offer.

      Trump is now surrounded by officials who have no interest in constraining his power. In 2020, Trump's then-Pentagon chief publicly rebuked Trump's threat to send in troops using the Insurrection Act, an 1807 law that empowers the president to use the military within the US and against American citizens.

      Current Defence Secretary Pete Hegseth signalled support on his personal X account for deploying troops to California, writing, "The National Guard, and Marines if need be, stand with ICE," referring to the US Immigration and Customs Enforcement agency.

      The Defence Department said on Monday it is deploying about 700 active-duty Marines to Los Angeles to support National Guard troops already on the ground to respond to the protests.

      White House responds to an incompetent' governor Protesters over the weekend blocked off a major freeway and burned self-driving cars as police responded with tear gas, rubber bullets and flash-bang grenades in clashes that encompassed several downtown blocks in Los Angeles and led to several dozen arrests. Much of the city saw no violence.

      But the protests prompted Trump to issue the directive Saturday mobilising the California National Guard over Newsom's objections. The president and his top immigration aides accused the governor of mismanaging the protests, with border czar Tom Homan asserting in a Fox News interview on Monday that Newsom stoked anti-ICE sentiments and waited two days to declare unlawful assembly in the city.

      Trump told Newsom in a phone call on Friday evening to get the situation in Los Angeles under control, a White House official said. It was only when the administration felt Newsom was not restoring order in the city — and after Trump watched the situation escalate for 24 hours and White House officials saw imagery of federal law enforcement officers with lacerations and other injuries — that the president moved to deploy the Guard, according to the official, who was granted anonymity to discuss private deliberations.

      "He's an incompetent governor," Trump said on Monday. "Look at the job he's doing in California. He's destroying one of our great states." Local law enforcement officials said Los Angeles police responded as quickly as they could once the protests erupted, and Newsom repeatedly asserted that state and city authorities had the situation under control.

      "Los Angeles is no stranger to demonstrations and protests and rallies and marches," Padilla said. "Local law enforcement knows how to handle this and has a rapport with the community and community leaders to be able to allow for that." The aggressive moves prompted blowback from some of Trump's erstwhile allies. Ileana Garcia, a Florida state senator who in 2016 founded the group Latinas for Trump and was hired to direct Latino outreach, called the recent escalation "unacceptable and inhumane." "I understand the importance of deporting criminal aliens, but what we are witnessing are arbitrary measures to hunt down people who are complying with their immigration hearings — in many cases, with credible fear of persecution claims — all driven by a Miller-like desire to satisfy a self-fabricated deportation goal," said Garcia, referring to Stephen Miller, a White House deputy chief of staff and key architect of Trump's immigration crackdown.

      The tactics could be just a preview to what more could come from the Trump administration and the Republican-controlled Congress. GOP lawmakers are working to pass a massive tax-and-border package that includes billions to hire thousands of new officers for Border Patrol and for ICE. The goal, under the Trump-backed plan, is to remove 1 million immigrants without status annually and house 100,000 people in immigration detention centres. (AP) RUK RUK

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