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    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and ...
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    July 25, 2026
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    Tax certainty and taxpayer-centric administration drive simplified compliance, reduced litigation, digital service delivery, and stronger voluntary tax compliance.
    Tax administration reform under the Income-tax Act, 2025, rules and forms is directed toward a simpler, transparent and taxpayer-centric system. Key priorities include reducing compliance costs and litigation through tax certainty, faster return processing, refunds, grievance redressal, voluntary compliance and timely appeal disposal. Digital initiatives, including PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and SAKSHAM NUDGE, are intended to simplify compliance and improve taxpayer experience. Capacity building in technology, international taxation, transfer pricing, digital assets and cybersecurity supports this reform agenda.
    July 24, 2026
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    Trade Practice Investigation: Tech-company antitrust fines prompt proposed tariffs and trade sanctions under federal trade law mechanisms.
    A formal investigation into alleged unfair trade practices has been announced in response to European regulatory fines imposed on major United States technology companies. The stated concern is that digital antitrust penalties are unfairly directed at United States businesses, with possible tariffs on European Union imports indicated. The proposed response is linked to Section 301 of the Trade Act of 1974, permitting import taxes and other sanctions against unjustifiable, unreasonable or discriminatory trade practices.
    July 24, 2026
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    Import tariffs and energy costs heighten inflation risks, pressuring consumers, corporate profits and monetary-policy expectations amid market volatility.
    Fresh tariffs on imports, rising energy prices and Middle East conflict are identified as concurrent pressures on global financial markets. The tariff measures apply to nearly all imports into the United States and are paid by importing companies, which typically pass the additional costs to consumers. Higher energy costs and tariffs may increase inflationary pressure, reduce household discretionary spending and affect corporate profitability, while influencing monetary-policy expectations. Investors also questioned whether substantial artificial-intelligence investment can support technology-sector valuations.
    July 24, 2026
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    Responsive tax governance promotes taxpayer convenience, correction of bona fide errors, tax certainty, prompt refunds and prevention of avoidable litigation.
    Responsive tax governance requires convenience for honest taxpayers, correction of bona fide errors and firm consequences for deliberate tax evasion. The Income Tax Act, 2025 is intended to simplify the legal framework, reduce uncertainty and lower compliance costs, supported by stronger electronic filing infrastructure and prompt refund processing. Tax certainty should promote voluntary compliance and shift the focus from litigation management to litigation prevention through consistent guidance, simplified procedures, technology, standardised processes, effective grievance resolution and reduction of recurring taxpayer difficulties.
    July 24, 2026
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    Examination integrity safeguards prompt monitoring, enforcement action and proposed stricter penalties for paper leaks and institutional failures.
    Examination integrity measures include reported termination of agency officials, contemplated legal and criminal action, proposed stricter punishment for paper leaks, and Supreme Court monitoring of preventive steps. The Supreme Court also prohibited unauthorised posting or uploading of audio-video court proceedings on social media and digital platforms without prior administrative permission. The updates further address taxpayer facilitation alongside firm action against evasion, trade measures connected with forced-labour concerns, and potential legal action concerning university communications to students.
    July 24, 2026
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    Foreign exchange market stabilisation supported rupee recovery as investor outflows, geopolitical tensions and elevated crude prices maintained currency pressure.
    Foreign exchange market conditions saw the rupee recover against the US dollar amid reports of Reserve Bank of India intervention and dollar sales by public-sector banks to limit further depreciation. Foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions, and elevated crude oil prices continued to pressure the currency. A decline in crude prices, diplomatic engagement, and central-bank intervention were identified as potential stabilising factors.
    July 24, 2026
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    Forced-labour import prohibition enabled lower tariff treatment for Sri Lankan goods, supporting export competitiveness and responsible trade practices.
    Tariff treatment for Sri Lankan goods entering the United States was reduced after Sri Lanka prohibited imports of goods produced using forced labour. The prohibition placed Sri Lanka within the lower tariff category under the stated US framework. The reduction is described as supporting exporter competitiveness while reflecting commitments to fair trade, responsible business practices, internationally accepted labour standards, and sustainable economic reforms.
    July 24, 2026
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    One District One Product strengthens district product branding, market access, food-processing support and export-oriented value chains.
    The One District One Product initiative supports district-identified products through branding, market access, exhibitions, capacity building and Government e-Marketplace onboarding. States and Union Territories select products and may leverage Central and State schemes, as no district-specific allocation is made. PM Ekta Malls and the PMFME Scheme support sales, food-processing projects, common infrastructure, branding, packaging, quality standardisation and food-safety compliance. Districts as Export Hubs promotes export-potential products through export committees, action plans and value-chain coordination.
    July 24, 2026
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    Services export promotion expands market access, professional mobility, qualification recognition and trade outreach for Indian service suppliers.
    Services export promotion combines targeted market and sector strategies, removal of domestic impediments, trade agreements and export-promotion activity. Free Trade Agreements secure market access and national treatment for Indian service suppliers, support transparent and time-bound authorisation processes, and facilitate temporary mobility of skilled professionals. Mutual Recognition Agreement provisions seek recognition of qualifications and licensing requirements. The framework also addresses social-security coordination, student mobility, traditional medicine and double-taxation commitments for IT services. The Services Export Promotion Council supports market development, trade facilitation, capacity building and international outreach.
    July 24, 2026
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    Free trade agreement negotiations advance as India and Israel address market access, origin rules, customs facilitation and economic cooperation.
    India and Israel completed the second round of negotiations for a proposed Free Trade Agreement under the Terms of Reference signed in November 2025. Technical discussions covered trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, intellectual property rights, customs procedures, trade facilitation and economic cooperation. Both sides sought to narrow gaps, identify areas of convergence and work towards early conclusion of a balanced, comprehensive and mutually beneficial agreement.
    July 24, 2026
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    Direct card acquiring enables cross-border merchants to manage payment processing, settlement, risk monitoring and disputes without intermediary acquirers.
    Visa Principal Membership enables Glomo to operate as a direct non-bank acquirer for Visa-powered merchant card payments through GIFT IFSC. It allows direct management of merchant acquisition, processing, settlement, transaction approval optimisation, fraud and risk monitoring, and dispute and chargeback handling without intermediary acquirers. The arrangement is intended to accelerate onboarding and processing, enhance control over risk policies and merchant experience, and support cross-border acceptance and settlement, including management of multiple currencies, banking systems and regulatory requirements.
    July 24, 2026
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    Foreign exchange reserves rose as foreign currency assets increased, while gold reserves fell and IMF reserve position declined.
    Foreign exchange reserves increased during the reported week, principally because foreign currency assets rose, including valuation effects from movements in non-US currencies held in reserve. Gold reserves declined, Special Drawing Rights increased, and the reserve position with the International Monetary Fund decreased. Earlier reserve declines were associated with rupee pressure and foreign-exchange market intervention through dollar sales.
    July 24, 2026
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    Consumer electronics financing enables instalment purchases of affordable earbuds through in-store loan and reusable credit facilities, subject to approval.
    Affordable Boult earbuds are described as offering extended battery life, fast charging, dynamic drivers, low-latency gaming modes, Environmental Noise Cancellation, Bluetooth connectivity, and selected active noise-cancellation features. Models are compared by audio, calling, gaming, and charging specifications. Purchases through partner stores may be financed through an Easy EMI Loan or Insta EMI Card, subject to in-store application and approval, with instalment tenures and possible zero-down-payment offers on selected models.
    July 24, 2026
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    Trade-tariff concerns and oil-price volatility deepen risk aversion, extending equity market losses amid geopolitical tensions and foreign outflows.
    Indian equity markets extended their losing streak amid caution over United States trade-tariff concerns, West Asia tensions, oil-price volatility, foreign equity outflows and selling in selected blue-chip shares. Higher oil prices were identified as a potential pressure on macroeconomic indicators and growth prospects. New import tariffs were described as a constraint for export-oriented economies, particularly technology-heavy markets, while investors may diversify exposure across emerging-market opportunities.
    July 24, 2026
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    Dual-use export controls restrict supplies to European entities amid reciprocal Russia-related sanctions and non-proliferation concerns.
    China imposed dual-use export controls on 14 European entities in response to European Union sanctions affecting Chinese and Hong Kong enterprises. Chinese companies cannot export dual-use items to the listed organisations, and foreign companies are barred from supplying them with dual-use items made in China. China stated that the restrictions protect national security and interests and support international non-proliferation obligations in the context of Russia-related sanctions.
    July 24, 2026
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    Foreign-exchange market intervention supported rupee stabilisation amid investor outflows, weak equities, geopolitical tensions and elevated crude oil prices.
    Foreign-exchange market conditions supported a rupee recovery against the US dollar following reported Reserve Bank of India intervention and dollar sales by public-sector banks. Pressure on the currency persisted due to foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions and elevated crude oil prices. Lower crude prices, a weaker dollar index and further central bank intervention were identified as potential stabilising influences.
    July 24, 2026
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    Forward-looking statements receive safe-harbor qualification amid reported IFRS performance, AI-led transformation initiatives, and revised revenue-growth guidance.
    Infosys reported first-quarter IFRS financial performance, including revenue growth, operating margin, earnings per share, free cash flow, and large-deal contract value, while revising revenue-growth guidance and retaining operating-margin guidance. The release describes AI-led enterprise transformation, cloud modernization, digital banking, financial-crime operations, and technology services engagements. Forward-looking statements are subject to safe-harbor protection and may differ materially because of business, talent, economic, technological, regulatory, cybersecurity, litigation, investigation, and tariff-related risks.
    July 24, 2026
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    Forced-labour import enforcement drives new tariffs as expiring stopgap levies and market uncertainty heighten trade-compliance concerns.
    Import tariffs were announced on goods from trading partners said not to have fully enforced prohibitions on products made with forced labour. The measures apply to imports from 60 trading partners representing most United States imports and were introduced as existing stopgap levies approached expiry, following a Supreme Court setback affecting other tariff measures. The announcement occurred amid market uncertainty linked to energy-route disruptions, rising crude-oil prices, inflation concerns, and scrutiny of artificial-intelligence investment spending.
    July 24, 2026
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    Cross-border commercial engagement supports Indian and Sri Lankan businesses in identifying partnerships and strengthening trade and investment relationships.
    Cross-border trade and investment engagement between India and Sri Lanka is proposed through a commerce chamber delegation representing diverse Indian industry sectors. A networking session is intended to enable direct interactions between businesses, identify partnership opportunities, discuss commercial collaboration and develop new business connections. The engagement seeks to strengthen commercial relationships across participating industries within the established bilateral trade and investment relationship.
    July 24, 2026
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    Foreign exchange market intervention limited rupee depreciation amid elevated oil prices, importer dollar demand, capital outflows and equity market weakness.
    Foreign exchange market conditions reflected an early appreciation of the rupee against the US dollar, with likely central bank intervention through state-owned banks reported as limiting sharper depreciation. Softer dollar conditions provided limited support, while elevated crude oil prices increased dollar demand from oil marketing companies and sustained importer buying pressure. Foreign institutional investor equity outflows, domestic equity weakness, and West Asia tensions affecting oil prices also influenced the rupee.

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      BMW accident case: Wrong to say car hit bike, claims accused driver

      September 24, 2025

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      New Delhi, Sep 24 (PTI) Gaganpreet Kaur, accused in the Dhaula Kuan BMW case, on Wednesday claimed through her counsel that her car did not hit the motorbike and she rushed the victim to the hospital within 24 minutes of the accident.

      Judicial magistrate Ankit Garg was hearing the arguments on Kaur’s bail.

      Kaur, 38, was allegedly behind the wheel of the BMW car that rammed into the two-wheeler of a senior finance ministry official, leaving him dead and his wife grievously injured.

      She has been remanded in judicial custody till September 27.

      Referring to the FIR, her counsel stressed that the car hit the two-wheeler from behind but argued that the CCTV footage of the incident showed otherwise.

      “Suddenly something came before the car, it hit the footpath, flipped over, turned turtle and then the motorcycle came and hit it, besides hitting a bus. It is wrong to say that the car hit the motorcycle,” he said.

      Describing her actions after the accident as bonafide, the counsel said despite suffering injuries, she made her children, domestic help and husband sit on the footpath and tried to make frantic arrangements.

      “The injured were taken to Nulife Hospital (in North Delhi’s GTB Nagar) in around 23-24 minutes. Taking them to AIIMS or Venkateshwar Hospital would have taken 36 minutes. There was a 4 km or 12 minute difference for taking the injured to these two hospitals,” her counsel claimed.

      Everything was alright when the injured were being taken to the hospital in a van but “things turned sour” when the man died, he added.

      “The allegations are an afterthought. FIR has been registered after a delay of 10 hours with a beautiful statement that the car hit the motorcycle. At 1:39 PM I (Kaur) gave my phone to a person and asked him to call the PCR. I revealed my name to the injured woman. I could have run away. Kindly see my conduct right from the inception,” the counsel said.

      He alleged that Section 105 (culpable homicide not amounting to murder) of BNS was wrongly invoked as the intention to cause death was missing.

      “I am in custody for 10 days. Special status in law has been provided to women. Statements have been recorded. I have cooperated with the investigation and provided my mobile phone, driving license, and medical documents. The triple test for bail is fulfilled,” the advocate said.

      He said, in fact, Kaur’s entire family were the “victims of the accident” as everything for them turned upside down after it.

      The public prosecutor, on the contrary, said the victim's wife, who is the complainant in the case, never asked Kaur to take them to Venkateshwar Hospital but insisted on being taken to any nearby hospital.

      “Before Nulife Hospital, there were several hospitals, AIIMS, Safdarjung, Base Hospital, and others. Nulife gave information to the police about the accident and death at 4:21 PM, three hours after. This is a hospital of the accused’s relatives,” the prosecutor said.

      He added, “I am not saying that the victim would have been definitely saved if taken to other hospitals. But the possibility of saving him was higher. Intention was not to save the injured, but to save themselves from legal proceedings by taking them to a relative’s hospital." There was “an omission to block medical aid” as the injured were not taken to a hospital, which was hardly two minutes away and that according to the Motor Vehicle Amendment Act, one was duty-bound to take the injured to the nearest hospital, he added.

      The prosecutor argued BNS Section 105 was correctly invoked.

      “The investigation is at a nascent stage. The complainant is medically critical. There is apprehension of evidence tampering,” the prosecutor said.

      The judge then directed the investigating officer (IO) “to produce CCTV footage and all relevant documents” on September 25.

      The court also sought the prosecution’s reply on a plea by Kaur’s counsel seeking the internet usage record of the van driver, who took the injured to Nulife, from 1.30 pm to 2.15 pm.

      Deputy Secretary in the Department of Economic Affairs, Navjot Singh (52), who lived in Hari Nagar, succumbed to injuries after the accident on Ring Road near the Delhi Cantonment Metro station on the afternoon of September 14.

      Singh, along with his wife, was returning home after visiting the Bangla Sahib Gurdwara.

      The FIR was registered under Sections 281 (rash driving), 125B (endangering life or personal safety of others), 105 and 238 (causing disappearance of evidence) of the BNS. PTI MNR MNR AMK AMK

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