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 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.
Relevance Default Date
    PM Modi meets president of Spain, PM of Finland; says India-EU FTA ushers in golden era
    Rising number of Indian freelancers, digital entrepreneurs forming US companies; compliance risks often overlooked, say experts
    imm india 2026 Positions India's Furniture & Interiors Industry for Global Leadership
    Asian shares gain as most regional markets stay closed for Lunar New Year holidays
    Cong cites OCCRP report to allege use of benami funds to amass large stakes in Adani Group
    AU Small Finance Bank Enhances Digital Savings Account Experience for Smarter Everyday Banking
    Tenth meeting of Monitoring Committee on Business Correspondents takes place under the chairmanship of Secretary, DFS
    BJP govt's budget is shaped by public suggestions: Haryana CM Saini
    I say as agriculture minister, trade deal with US won't cause losses to India's farmers: Shivraj
    Delhi court rejects ex-Jaypee Infratech MD's bail plea in money-laundering case
    Aakash undertakes in SC to secure 25.7 pc Byju's shares in rights dispute
    RBI releases draft Directions on Reporting Instructions for Authorised Dealer Category – I Banks
    Glottis Logistics Aligns Expansion with Budget's Infrastructure Push
    RBI releases draft Directions on Foreign Exchange Dealings of Authorised Persons
    Secretary, DFS inaugurates facilitation camps to promote ‘Paripoorna Mediclaim Ayush Bima’ for CGHS beneficiaries
    India intensifying engagement with global partners from position of strength: Jaishankar
    Axis Max Life Reports 20% YoY Growth in Individual Adjusted First Year Premium in 9M FY'26; VNB Increases by 30% YoY
    Tina Ambani skips ED summons for second time
    J&K records Rs 24,080.79 cr GST collection in three years, gets Rs 15,795.13 cr IGST share: CM
    The cumulative exports (merchandise & services) during April-January 2025-26 is estimated at US$ 720.76 Billion, as compared to US$ 679.02 Billion in ...
❯❯
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
February 18, 2026
Show AI Summary
India-EU Free Trade Agreement expands economic ties and drives technology, defence and education cooperation across Europe and India.
The India EU Free Trade Agreement is presented as the principal catalyst for deeper India-Europe economic relations, expected to expand market access and commercial opportunities. Bilateral meetings with Spain and Finland focused on leveraging the FTA to strengthen economic partnership and targeted cooperation in defence, security, advanced technologies (including AI and 6G), clean energy and higher education, while India's AI Expo serves as a platform to operationalise joint technology, startup and institutional collaboration.
February 18, 2026
Show AI Summary
Foreign owned US LLC compliance: nonresident owners face mandatory IRS reporting and parallel Indian tax and FEMA obligations.
Nonresident ownership of US single member LLCs triggers an annual IRS Form 5472 filing obligation with steep per form penalties for non filing; this filing must be submitted by mail or fax. The US FinCEN BOI exemption for domestically formed entities does not remove Form 5472 duties. Indian residents must report and tax worldwide income and may face FEMA and Overseas Direct Investment reporting requirements, so professional cross border tax and FEMA advice is recommended before formation.
February 18, 2026
Show AI Summary
Tariff elimination boosts India's export competitiveness, enhancing global sourcing and buyer engagement through imm india's trade platform.
Trade-policy shifts, notably the EU-India Free Trade Agreement, have eliminated or substantially reduced import duties on several Indian furniture categories, lowering average tariffs and simplifying customs procedures. imm india 2026 is structured as a B2B trade platform-featuring a Hosted Buyer Programme, The Sourcing Hub, curated showcases, and industry alliances-to enable direct sourcing, streamline buyer-seller engagement, and translate tariff and customs liberalisation into expanded export market access for Indian manufacturers.
February 18, 2026
Show AI Summary
Trade tariffs reshape investment flows as US-Japan deal ties increased export levies to large bilateral investment commitments.
A bilateral trade arrangement between Japan and the United States is reported to include a substantial Japanese investment pledge in the US and an associated increase in export tariffs on Japanese goods, while a Japanese subsidiary's participation in a major US natural gas facility links cross border investment commitments to energy project involvement, framing market movements alongside investor concerns about overinvestment in AI infrastructure and resultant volatility.
February 18, 2026
Show AI Summary
Benami funds allegations prompt call for parliamentary probe amid claimed regulatory inaction and governance failures.
Allegations assert the use of benami funds by close associates to amass significant stakes in a corporate conglomerate through intermediaries and trading firms, accompanied by claims of over-invoicing, cross-border transfers, and an alleged bribery scheme to secure contracts; these claims form the basis for demands for a parliamentary inquiry into corporate ownership concealment and associated governance failures amid perceived regulatory and enforcement inaction.
February 18, 2026
Show AI Summary
Digital savings account transparency improves customer decision-making through instant account opening, UPI integration and built in interest tools.
AU Small Finance Bank's enhanced digital savings account focuses on instant digital account opening, UPI integration, 24x7 mobile banking, contactless debit card capabilities, and an integrated savings account interest rate calculator that provides transparent interest rate visibility to help customers evaluate returns, plan finances, and maintain liquidity while supporting financial inclusion.
February 18, 2026
Show AI Summary
Business correspondent operationalisation advances as banks urged to scale services and complete digital monitoring and geotagging.
Monitoring Committee reviewed operational and governance aspects of the Business Correspondent model, noting implementation of a Business Correspondent Registry that identifies duplicate BCs and captures service and performance records; member banks completed geotagging of BC points and are using digital monitoring tools. The Committee advised banks to scale up and expand services at BC outlets, and discussed commission structures in remote areas, grievance resolution for BC organisations, and coordination to strengthen performance monitoring and financial inclusion.
February 17, 2026
Show AI Summary
People's budget shaped by public suggestions to advance development priorities while maintaining fiscal discipline in state finances.
The upcoming state budget is characterized as a people's budget shaped by public suggestions, with over twelve thousand submissions and several thousand to be incorporated. It follows prior budget commitments-248 announcements with seventy-seven implemented and most others near completion-and is presented against strengthened fiscal metrics: rising GDP and per capita income, increased own revenue, broad departmental expenditure, fiscal deficit within FRBM limits, and a higher central tax share under the 16th Finance Commission. Socio economic gains cited include employment growth, expanded higher education, MSME formalisation, and export increases.
February 17, 2026
Show AI Summary
Trade deal protections for farmers: government assures imports will be allowed only where farmer interests are safeguarded.
The minister stated the interim India-US trade agreement includes safeguards to prevent harm to farmers while allowing necessary imports to address domestic shortages; he defended policy choices on MSP orientation, procurement and buffer stocks as central to protecting farmer interests, and announced Bharat-VISTAAR, an AI-based platform to deliver market prices, crop advice, weather updates and scheme information to enhance farmer welfare and transparency.
February 17, 2026
Show AI Summary
PMLA bail conditions prevent release where alleged large-scale fund diversion, multiple FIRs and risk of evidence tampering exist.
Denial of regular bail under the Prevention of Money Laundering Act followed allegations that the accused diverted homebuyer funds, leaving major construction incomplete; investigative records and account certifications showed a large shortfall between amounts collected and expenditure, and the accused was named in multiple FIRs and charge-sheets. The court found a strong possibility of reoffending or tampering with evidence if released and held that the PMLA twin bail conditions-opportunity for the prosecutor to oppose bail and judicial satisfaction of non-guilt and non-recidivism-were not satisfied.
February 17, 2026
Show AI Summary
Secured shareholding: Byju's stake in Aakash to remain secured pending NCLAT disposal; TLPL allowed to subscribe.
Aakash undertook in the Supreme Court that Byju's shareholding in Aakash shall remain secured until disposal of the interlocutory application before the NCLAT; the Court recorded that undertaking and gave Byju's parent a limited period to subscribe to the second tranche of the rights issue. The dispute arises from TLPL's challenge to the rights issue amid TLPL's insolvency proceedings, and the NCLAT has permitted TLPL to apply for shares up to its original entitlement while restraining Aakash from taking matters requiring a special resolution until the dispute is adjudicated.
February 17, 2026
Show AI Summary
Reporting requirement for local-currency foreign exchange derivatives now covers related-party global transactions; stakeholders invited to comment.
The Reserve Bank proposes draft Directions requiring Authorised Dealer Category - I banks to report foreign exchange derivative transactions involving the Indian currency undertaken by their related parties globally, extending trade repository coverage to offshore rupee derivative flows to enhance market transparency and pricing. The measure builds on earlier requirements for market-makers, primary dealers, and banks to report OTC and rupee interest-rate derivatives, and is published for stakeholder consultation with specified submission procedures.
February 17, 2026
Show AI Summary
Customs digitisation shortens clearance times, enabling asset-backed logistics expansion aligned with infrastructure-focused trade reforms.
Union Budget emphasis on multimodal freight connectivity and customs modernisation is expected to reduce structural logistics costs and improve transit predictability. Glottis Logistics will invest in trailers and container assets to increase owned capacity, reduce third-party dependence and strengthen execution across trade corridors. Concurrent customs digitisation measures-electronic cargo sealing, non-intrusive inspections and extended duty deferment for authorised operators-aim to shorten clearance times and ease working capital pressures, making asset-backed operators with disciplined capital allocation better positioned to capture long-term trade competitiveness gains.
February 17, 2026
Show AI Summary
Draft directions on foreign exchange dealings invite public comment to broaden authorised dealers' flexibility in products, risk management and platforms.
The Reserve Bank has issued draft Directions on Foreign Exchange Dealings of Authorised Persons and invited stakeholder comments. The draft seeks to refine regulation by expanding facilities and operational flexibility available to authorised dealers, focusing on foreign exchange products, risk management and trading platforms. It forms part of regulatory updates announced in the recent Statement on Developmental and Regulatory Policies, and specifies submission channels for public feedback.
February 17, 2026
Show AI Summary
Health insurance co-payment options enhance CGHS beneficiary coverage with cashless hospitalization access and flexible network choices.
Paripoorna Mediclaim Ayush Bima is an optional indemnity-based in patient hospitalization policy exclusively for CGHS beneficiaries, coverable up to six members per policy. The product offers selectable co-payment sharing ratios between insurer and subscriber, cashless treatment through insurer and Third Party Administrator networks, and is promoted as a retail complement to existing CGHS benefits with a GST exemption to improve affordability.
February 17, 2026
Show AI Summary
Economic security tied to self-reliance and trusted partners as trade deals reshape export controls and supply chains.
India is intensifying engagement from a position of strength, using recent trade agreements to strengthen economic security through self reliance, trusted partners, supply chain diversification and de risking in response to weaponised production, tightened export controls, market leverage and tariff induced demand uncertainty.
February 17, 2026
Show AI Summary
Financial performance: Axis Max Life posts strong premium and profitability growth, boosting market share and new business margins.
Axis Max Life's 9M FY26 results show 20% YoY growth in Individual Adjusted First Year Premium to Rs. 6,396 crores and a 30% YoY increase in Value of New Business to Rs. 1,633 crores, with New Business Margin at 23.6% and private market share rising by 53 basis points to 9.8%; renewal premium, gross written premium, Embedded Value and Assets Under Management also registered double digit growth, while the release includes a standard disclaimer on forward looking statements and investment reliance.
February 17, 2026
Show AI Summary
Money laundering probe: Tina Ambani skips ED summons; investigation targets alleged fraudulent foreign remittance and property sale.
Tina Ambani failed to appear for a second ED summons in a PMLA investigation concerning an alleged money trail tied to a Manhattan condominium purchase; she has been issued a fresh notice and will be questioned with her statement recorded under the Prevention of Money Laundering Act. The ED alleges a fraudulent sale of the New York property during a corporate insolvency process and that sale proceeds were remitted via a sham investment arrangement through a Dubai-based entity without the Resolution Professional's knowledge. The agency has arrested a former executive, formed a Special Investigation Team, attached assets, and filed multiple Enforcement Case Information Reports against group companies.
February 17, 2026
Show AI Summary
Goods and Services Tax expansion lifted revenues and IGST settlements, backed by tech-driven compliance and targeted small-taxpayer measures.
GST receipts in the Union Territory rose steadily over three years, with concurrent IGST settlements from the Centre reflecting the destination-based tax design. The unified Goods and Services Tax (GST) regime and technology-enabled compliance (online registration, return filing, refunds, e-way bills) strengthened tax administration and widened the tax base. Administrative measures-Composition Scheme, quarterly returns, QRMP and district Suvidha Kendras-aim to ease compliance for small taxpayers, while sector-specific rate rationalisation and concessional inputs support handicrafts, horticulture and tourism. Remaining issues for small and unorganised producers include compliance burdens and IGST refund delays, which authorities are addressing through simplification and support.
February 17, 2026
Show AI Summary
Exports growth drives trade expansion with larger services surplus despite a widening merchandise trade deficit in estimates.
India's combined merchandise and services exports for April-January 2025-26 are estimated at US$ 720.76 billion, up year on year, while combined imports are estimated at US$ 823.41 billion, producing a wider trade deficit; merchandise exports were US$ 366.63 billion and non petroleum exports US$ 320.94 billion, with services exports driving a services surplus of US$ 180.58 billion for the period.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters
Customs & Trade

Murky outlook for businesses after tariff ruling prompts countermoves by Trump

February 21, 2026

Contents
Summary
Note

Note

-

Bookmark

Print

Print

New York, Feb 21 (AP) Businesses face a new wave of uncertainty after the Supreme Court struck down tariffs imposed by President Donald Trump under an emergency powers law and Trump vowed to work around the ruling to keep his tariffs in place.

The Trump administration says its tariffs help boost American manufacturers and reduce the trade gap. But many US businesses have had to raise prices and adjust in other ways to offset higher costs spurred by the tariffs.

It remains to be seen how much relief businesses and consumers will actually get from Friday's ruling. Within hours of the court's decision, Trump pledged to use a different law to impose a 10 per cent tariff on all imports that would last 150 days, and to explore other ways to impose additional tariffs on countries he says engage in unfair trade practices.

“Any boost to the economy from lowering tariffs in the near-term is likely to be partly offset by a prolonged period of uncertainty,” said Michael Pearce, an economist at Oxford Economics. “With the administration likely to rebuild tariffs through other, more durable, means, the overall tariffs rate may yet end up settling close to current levels.” Efforts to claw back the estimated USD 133 billion to USD 175 billion of previously collected tariffs now deemed illegal are bound to be complicated, and will likely favour larger companies with more resources. Consumers hoping for a refund are unlikely to be compensated.

The fight against tariffs continues ------------------------------------- With Trump's unyielding position on tariffs, many business are braced for years of court battles.

Basic Fun, a Florida-based maker of toys such as Lincoln Logs and Tonka trucks, last week joined a slew of other businesses in a lawsuit seeking to claw back tariffs paid to the government.

While company CEO Jay Foreman is concerned about any new tariffs Trump may impose, he doesn't think they will affect toys. Still, he said, “I do worry about some type of perpetual fight over this, at least for the next three years.” The new 10 per cent tariff Trump announced Friday immediately raised questions for Daniel Posner, the owner of Grapes The Wine Co., in White Plains, New York. Since wine shipments take about two weeks to cross the Atlantic, he wonders if a shipment arriving Monday will be affected.

“We're reactive to what's become a very unstable situation,” Posner said.

Ron Kurnik owns Superior Coffee Roasting Co. in Sault Ste. Marie, Michigan, across the border from Canada. In addition to US tariffs, Kurnik faced retaliatory tariffs from Canada for much of last year when he exported his coffee.

“It's like a nightmare we just want to wake up from,” said Kurnik, whose company has raised prices by 6 per cent twice since the tariffs went into effect. While he's pleased with the Supreme Court's ruling, he doesn't think he will ever see a refund.

Industries pine for more stability ------------------------------------ A wide array of industries, including retail, tech and the agricultural sector, used the Supreme Court ruling as an opportunity to remind Trump of how his trade policies have affected their businesses.

The Business Roundtable, a group that lobbies on behalf of more than 200 US companies, released a statement encouraging the administration to limit the focus of tariffs going forward to specific unfair trade practices and national security concerns.

In the retail industry, stores of all stripes have embraced different ways to offset the effects of tariffs — from absorbing some of the costs themselves, to cutting expenses and diversifying their supply network.

Still, they have had to pass on some price increases at a time when shoppers have been particularly sensitive to inflationary pressures.

Dave French, executive vice president of government relations for The National Retail Federation, the nation's largest retail industry trade group, said he hoped lower courts would ensure “a seamless process” to refund tariffs. That issue wasn't addressed in Friday's ruling.

For the technology sector, Trump's tariffs caused major headaches. Many of its products are either built overseas or depend on imports of key components. The Computer & Communications Industry Association, which represents a spectrum of technology companies employing more than 1.6 million people, expressed hope that the decision will ease the trade tensions.

"With this decision behind us, we look forward to bringing more stability to trade policy,” said Jonathan McHale, the association's vice president for digital trade.

Farmers, who have been stung by higher prices for equipment and fertilizer since the tariffs went into effect, and reduced demand for their exports, also spoke out.

“We strongly encourage the president to avoid using any other available authorities to impose tariffs on agricultural inputs that would further increase costs,” said American Farm Bureau Federation President Zippy Duvall.

Industries that aren't feeling any relief ------------------------------------------- The Supreme Court ruled 6-3 that the International Emergency Economic Powers Act did not give the president authority to tax imports, a power that belongs to Congress. But the decision only affects tariffs imposed under that law, so some industries will see no relief at all.

The decision leaves in effect tariffs on steel, upholstered furniture, kitchen cabinets and bathroom vanities, according to the Home Furnishings Association, which represents 15,000 furniture stores in North America.

At Revolution Brewing in Chicago, the aluminum they use for cans costs as much as the ingredients that go inside them because of tariffs Trump has placed on metals that are not affected by the Supreme Court ruling. While the cans are made in Chicago, the aluminum comes from Canada, said Josh Deth, managing partner at the brewery.

Tariffs have been just one challenge for his business, which is also affected by volatile barley prices and a slowdown in demand for craft beer.

“Everything kind of adds up,” he said. “The beverage industry needs relief here. We're getting crushed by the prices of aluminum.” Reaction overseas --------------------- Italian winemakers hard-hit by the tariffs greeted the Supreme Court decision with scepticism, warning that the decision may just deepen uncertainty around trade with the US.

The US is Italy's largest wine market, with sales having tripled in value over the past 20 years. New tariffs on the EU, which the Trump administration initially threatened would be 200 per cent, had sent fear throughout the industry, which remained even after the US reduced, delayed and negotiated down.

“There is a more than likely risk that tariffs will be reimposed through alternative legal channels, compounded by the uncertainty this ruling may generate in commercial relations between Europe and the United States,” said Lamberto Frescobaldi, president of UIV, a trade association that represents more than 800 winemakers.

Elsewhere in Europe, initial reaction focused on renewed upheaval and confusion regarding costs facing businesses exporting to the US.

Trump's tariffs could hit pharmaceuticals, chemicals and auto parts, said Carsten Brzeski, an economist at ING bank. “Europe should not be mistaken, this ruling will not bring relief," he said. "The legal authority may be different, but the economic impact could be identical or worse.” (AP) GSP

Topics

Acts Income Tax