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

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
    India's Russian oil imports hold near 1.8 million bpd as Middle East fills gaps
    IDFC FIRST Bank enables Direct Tax payments through UPI, cards, net banking and branches
    Sensex slumps 1,248 pts as IRDAI proposal hits financial shares; rising crude, US yields weigh
    Bajaj Finance Personal Loan Offers Rs. 40,000 to Rs. 55 Lakh with Tenures up to 108 Months
    MCA issues advisory - cautions public against high-return promises by non-compliant Nidhi Companies
    Banks likely to deploy excess liquidity over next few months amid strong credit demand: RBI Deputy Guv
    Assam Cabinet approves rules for compulsory registration of Muslim marriages
    The Indian Economy in an Ever More Volatile and Complex World - Special Address by Dr. Poonam Gupta, Deputy Governor, Reserve Bank of India at the 13t...
    Technopark software exports rise 17.3 pc to Rs 17,092 cr in FY26
    IIEST, Shibpur partners with TCS to launch state-of-the-art centre of excellence in AI
    AAP holds protest at GMADA office in Mohali as ED's searches continue
    CMRL ''payments'' to UDF, LDF leaders prevented Vigilance probe against Vijayan, claims Ker BJP
    US and China agree to extend trade truce by 2 months: Bessent
    DRI seizes around 21 kg foreign-origin gold worth Rs. 32 crore in crackdown on gold smuggling
    DRI seizes around 12 kg foreign-origin gold smuggled from Bangladesh worth Rs. 17 crore in a crackdown on cross border gold smuggling
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman inaugurates BRICS Heads of Tax Authorities Meeting in New Delhi
    DRI seizes 86 live Tokay Geckos in Assam in a crackdown on wildlife trafficking; two arrested
    DRI seizes 10,000 kg of firecrackers worth Rs. 3 crore at Nhava Sheva port
    CCI approves acquisition of certain additional equity share capital of IIFL Capital Services Ltd by FIH Mauritius Investments Ltd.
    CCI approves acquisition of Onesto Labs Private Limited by L’Oréal India Private Limited
❯❯
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 24, 2026
Show AI Summary
Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
Show AI Summary
FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
Show AI Summary
Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
Show AI Summary
Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
Show AI Summary
Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
Show AI Summary
Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
Show AI Summary
Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
Show AI Summary
Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
Show AI Summary
Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.
September 24, 2026
Show AI Summary
Gold Smuggling Enforcement: Concealed foreign-origin gold recovered from vehicles and a traveller, with arrests under customs law.
Gold-smuggling enforcement involved the seizure of approximately 21 kg of foreign-origin gold in two operations and the arrest of five persons under the Customs Act, 1962. Gold bars were recovered from sophisticated vehicle-chassis cavities, while gold bars and cut pieces were recovered from a passenger's specially designed cotton waist belt. The operations concerned suspected cross-border gold movement and targeted organised smuggling networks using sophisticated concealment methods.
September 24, 2026
Show AI Summary
Cross-border gold smuggling enforcement resulted in Customs Act seizures after coordinated recovery of foreign-origin gold from border locations and a passenger.
Cross-border smuggling of foreign-origin gold through the Bangladesh route led to coordinated recoveries and seizures under the Customs Act, 1962. Gold recovered near the India-Bangladesh border was taken over for customs proceedings, including a seizure under Section 110. Foreign-origin gold concealed by a train passenger was also recovered and seized, with investigation indicating its smuggling from Bangladesh.
September 24, 2026
Show AI Summary
BRICS tax cooperation creates standing platforms for international taxation, revenue statistics, professional capacity building and peer learning.
India-led BRICS tax cooperation established standing Working Groups on International Taxation and Transfer Pricing and Revenue Statistics, providing institutional platforms extending beyond individual Chairships. It also institutionalised an annual Young Tax Professionals Capacity Building Programme, launched the BRICS Tax Cross-Learning Lab for peer learning on client-centric administration and human-resources practices, and approved the Terms of Reference for the BRICS Tax Support Network.
September 24, 2026
Show AI Summary
Wildlife trafficking enforcement applies protected-species safeguards to seized Tokay Geckos and enables further statutory action against suspected illegal trade.
Wildlife-trafficking enforcement led to interception of two persons and seizure of 86 live Tokay Geckos under the Wildlife (Protection) Act, 1972. Tokay Geckos receive Schedule I protection under that legislation and are listed in Appendix II of CITES, regulating international trade. The persons and recovered geckos were transferred to the Mariani Range Forest Office for further action.
September 24, 2026
Show AI Summary
Restricted firecracker imports concealed through misdeclaration trigger seizure and criminal investigation under customs enforcement law.
Concealment of restricted firecrackers within an import container declared as bottles and wallpaper resulted in customs seizure under the Customs Act, 1962. Firecracker imports are restricted under the Foreign Trade Policy and require valid Directorate General of Foreign Trade authorisation and a Petroleum and Explosives Safety Organisation licence under the Explosives Rules, 2008. Investigation into attempted clandestine clearance led to the arrest under the Customs Act of a key syndicate member alleged to have orchestrated the import.
September 24, 2026
Show AI Summary
Merger-control approval permits FIHM's phased acquisition of IIFL Capital Services equity through subscription, open offer and promoter purchase.
Merger-control approval permits FIHM to acquire certain additional equity share capital of IIFL Capital Services through a preferential issue on a private-placement basis and through shares tendered in a mandatory open offer. FIHM may also buy shares from the target's promoters if its aggregate shareholding with HWIC remains below the Target Shareholding after these steps.
September 24, 2026
Show AI Summary
Full ownership acquisition in beauty and personal care receives competition approval for skin care and hair care operations.
Competition approval covers L'Ore al India Private Limited's acquisition of the entire shareholding in Onesto Labs Private Limited. The proposed combination concerns India's beauty and personal care sector and places the Target under the Acquirer's full ownership. Both entities operate in beauty and personal care products, including skin care and hair care.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

US Senate passes $9 billion in spending cuts to public broadcasting, foreign aid requested by Trump

July 17, 2025

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Washington, Jul 17 (AP) The Senate has passed about $9 billion in federal spending cuts requested by President Donald Trump, including deep reductions to public broadcasting and foreign aid, moving forward on one of the president's top priorities despite concerns from several Republican senators.

The legislation, which now moves to the House, would have a tiny impact on the nation's rising debt but could have major ramifications for the targeted spending, from the Corporation for Public Broadcasting to US food aid programmes abroad.

It also could complicate efforts to pass additional spending bills this year, as Democrats and even some Republicans have argued they are ceding congressional spending powers to Trump with little idea of how the White House Office of Management and Budget would apply the cuts.

The 51-48 vote came after 2 am Thursday after Democrats sought to remove many of the proposed rescissions during 12 hours of amendment votes. None of the Democratic amendments were adopted.

Senate Majority Leader John Thune said Republicans were using the president's rescissions request to target wasteful spending. He said it is a “small but important step for fiscal sanity that we all should be able to agree is long overdue”.

But Senate Appropriations Committee Chairwoman Susan Collins said the bill “has a big problem — nobody really knows what programme reductions are in it”.

Collins and Senator Lisa Murkowski joined Democrats in voting against the legislation. Kentucky Senator Mitch McConnell, the former Republican leader, had voted against moving forward with the bill in a Tuesday procedural vote, saying he was concerned the Trump White House wanted a “blank check", but he ultimately voted for final passage.

The effort to claw back a sliver of federal spending comes after Republicans also muscled Trump's big tax and spending cut bill to approval without any Democratic support. The Congressional Budget Office has projected that measure will increase future federal deficits by about $3.3 trillion over the coming decade.

Lawmakers clash over cuts to public radio and TV stations Along with Democrats, Collins and Murkowski both expressed concerns about the cuts to public broadcasting, saying they could affect important rural stations in their states.

Murkowski said in a speech on the Senate floor Tuesday that the stations are "not just your news — it is your tsunami alert, it is your landslide alert, it is your volcano alert”.

Less than a day later, as the Senate debated the bill, a 7.3 magnitude earthquake struck off the remote Alaska Peninsula, triggering tsunami warnings on local public broadcasting stations that advised people to get to higher ground.

The situation is “a reminder that when we hear people rant about how public broadcasting is nothing more than this radical, liberal effort to pollute people's minds, I think they need to look at what some of the basic services are to communities," Murkowski said.

The legislation would claw back nearly $1.1 billion from the Corporation for Public Broadcasting, which represents the full amount it's due to receive during the next two budget years.

The corporation distributes more than 70% of the money to more than 1,500 locally operated public television and radio stations, with much of the remainder assigned to National Public Radio and the Public Broadcasting Service to support national programming.

Senator Mike Rounds said he secured a deal from the White House that some funding administered by the Interior Department would be repurposed to subsidise Native American public radio stations in about a dozen states.

But Kate Riley, president and CEO of America's Public Television Stations, a network of locally owned and operated stations, said that deal was “at best a short-term, half-measure that will still result in cuts and reduced service at the stations it purports to save, while leaving behind all other stations, including many that serve Native populations”.

Slashing billions of dollars from foreign aid The legislation would also claw back about $8 billion in foreign aid spending.

Among the cuts are $800 million for a program that provides emergency shelter, water and sanitation and family reunification for those who flee their own countries and $496 million to provide food, water and health care for countries hit by natural disasters and conflicts.

There also is a $4.15 billion cut for programs that aim to boost economies and democratic institutions in developing nations.

Democrats argued the Trump administration's animus toward foreign aid programs would hurt America's standing in the world and create a vacuum for China to fill.

Senator Brian Schatz said the amount of money it takes to save a starving child or prevent the transmission of disease is miniscule, even as the investments secure cooperation with the US on other issues.

The cuts being made to foreign aid programs through Trump's Department of Government Efficiency were having life-and-death consequences around the world, he said.

“People are dying right now, not in spite of us but because of us,” Schatz said. “We are causing death.” After objections from several Republicans, GOP leaders took out a $400 million cut to PEPFAR, a politically popular programme to combat HIV/AIDS that is credited with saving millions of lives since its creation under then-President George W Bush.

Looking ahead to future spending fights Democrats say the bill upends a legislative process that typically requires lawmakers from both parties to work together to fund the nation's priorities. Triggered by the official recissions request from the White House, the legislation only needs a simple majority vote instead of the 60 votes usually required to break a filibuster, meaning Republicans can use their 53-47 majority to pass it along party lines.

The Trump administration is promising more rescission packages to come if the first effort is successful. But some Republicans who supported the bill indicated they might be wary of doing so again.

“Let's not make a habit of this,” said Senate Armed Services Committee Chairman Roger Wicker, who voted for the bill but said he was wary that the White House wasn't providing enough information on what exactly will be cut. Wicker said there are members “who are very concerned, as I am, about this process.” North Carolina Senator Thom Tillis echoed similar concerns and said Republicans will need to work with Democrats to keep the government running later in the year.

“The only way to fund the government is to get at least seven Democrats to vote with us at the end of September or we could go into a shutdown,” Tillis said.

Republicans face a Friday deadline Collins attempted to negotiate a last minute change to the package that would have reduced the cuts by about $2.5 billion and restored some of the public broadcasting and global health dollars, but she abandoned the effort after she didn't have enough backing from her Republican colleagues in the Senate and the House.

The House has already shown its support for the president's request with a mostly party line 214-212 vote, but since the Senate amended the bill, it will have to go back to the House for another vote.

The bill must be signed into law by midnight Friday for the proposed rescissions to kick in. If Congress doesn't act by then, the spending stands. (AP) SCY SCY

Topics

Acts Income Tax