<?xml version="1.0" encoding="UTF-8"?>
<?xml-stylesheet type="text/xsl" href="https://www.taxtmi.com/rss_sitemap/rss_feed.xsl?v=1750492856"?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:media="http://search.yahoo.com/mrss/">
    <channel>
        <atom:link href="https://www.taxtmi.com/rss_feed?type=News" rel="self" type="text/xml" />
        <title>Tax Updates - Daily Update</title>
        <link>https://www.taxtmi.com</link>
        <description>One stop solution for Direct Taxes and Indirect Taxes and Corporate Laws in India</description>
        <category>Business/Tax/Law/GST/India/Taxation/Policies/Legal/Corporate Tax/Personal Tax/Vat Law/Legal Information/Tax Information/Legal Services/Tax Services</category>
        <copyright>TaxTMI.Com / MS Knowledge Processing Pvt. Ltd. All rights reserved.</copyright>
        <lastBuildDate>Sun, 19 Jul 2026 21:36:39 +0530</lastBuildDate>
        <language>en-us</language>
        <webMaster>webmaster@taxtmi.com</webMaster>
        <managingEditor>editor@taxtmi.com</managingEditor>
        <ttl>60</ttl>
        <item>
<title>HDFC Bank profit rises 5 pc to Rs 19,060 cr in Q1</title>
<link>https://www.taxtmi.com/news?id=73895</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73895</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Banking-sector performance reporting records higher profitability, improved asset quality and lower provisions for bad loans, although operating profit declined and capital adequacy moderated. Corporate governance developments include appointment of a part-time chairman following the former chairman's resignation and concerns about internal practices. The chairman's prior financial-services role was associated with actions against shell companies and ponzi schemes targeting black-money structures. Reappointment of the managing director and chief executive officer remains subject to committee consideration.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Indian-origin woman sentenced to 2 years jail over Covid business loan fraud in UK</title>
<link>https://www.taxtmi.com/news?id=73894</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73894</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Covid business loan fraud involved false Bounce Back Loan applications based on inflated turnover, duplicate claims, and false declarations that funds would be used solely for business purposes. The loan proceeds were diverted to personal accounts for personal debts, personal finance, stocks and shares, and transfers between company accounts. The borrower pleaded guilty to fraud offences, received a custodial sentence, and faces recovery proceedings for the fraudulently obtained funds under the Proceeds of Crime Act 2002.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Onion growers welcome agri market near Vadhvan port, urge govt to develop Nashik as export hub</title>
<link>https://www.taxtmi.com/news?id=73893</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73893</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Onion growers seek development of Nashik as a National Onion Export Hub linked to the proposed agricultural market near Vadhvan port. The proposed framework includes an onion export terminal, grading, sorting, packing, quality testing and customs-clearance facilities, and rail, container and cold-chain logistics. Additional requests include a stable national onion export policy, support for processing industries, direct farmer producer organisation participation in exports, an export promotion cell, and a training, research and export-guidance centre.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Vizhinjam port to begin full EXIM operations from Aug 18</title>
<link>https://www.taxtmi.com/news?id=73892</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73892</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Full export-import (EXIM) operations at Vizhinjam International Seaport are scheduled to commence from August 18, transitioning the port from a transshipment hub into an international cargo gateway. The launch is intended to reduce logistics costs, improve supply-chain efficiency, enhance export competitiveness, and support investment and employment. The port will continue as an open-access, common-user facility serving shipping companies on an equal basis.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Union Minister of Commerce and Industry Shri Piyush Goyal Engages with Leading Finnish Technology and Industrial Companies to Deepen India–Finland Partnership</title>
<link>https://www.taxtmi.com/news?id=73891</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73891</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[India-Finland cooperation was advanced through discussions on telecommunications, digital infrastructure, electronics manufacturing, research and development, innovation, clean technologies, advanced materials, and technology transfer. Further priorities included smart urban infrastructure, sustainable construction, advanced manufacturing, localisation, industrial machinery, clean industrial solutions, and investment. The engagements also explored EV charging infrastructure and reinforced business-to-business linkages for long-term cooperation in technology, sustainable manufacturing, research, and investment.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>US oil firms sign deals with Iraq to develop alternative shipping routes</title>
<link>https://www.taxtmi.com/news?id=73890</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73890</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Alternative oil export routes from Iraq are being pursued through agreements to develop pipeline capacity that can reduce reliance on the Strait of Hormuz. Planned pipelines would support larger-scale exports through Syria and Turkey and strengthen energy-security options amid disrupted maritime shipments. Their timing and viability remain uncertain because cross-border construction requires substantial development and coordination. Existing overland shipments through Syria offer a temporary, but less efficient and more costly, route to European markets. Iraq has emphasised its preference for long-term investment partnerships over project-based contracting.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>HC transfers probe against ex-MLC Haji Iqbal from UP STF to SFIO</title>
<link>https://www.taxtmi.com/news?id=73889</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73889</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[A fraud investigation concerning an alleged real-estate investment scheme was transferred to the Serious Fraud Investigation Office because the named company was stated to be part of a wider alleged shell-company network already under its examination. The FIR was not quashed, as the complainant's individual transaction had not been investigated. A single specialised inquiry was considered necessary to prevent fragmented or conflicting investigations into an allegedly indivisible fraud scheme.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Rupee rises 12 paise to close at 96.30 against US dollar</title>
<link>https://www.taxtmi.com/news?id=73888</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73888</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Foreign exchange market movement saw the rupee appreciate against the US dollar, supported by positive domestic equity-market performance, lower US Treasury yields and reported possible central-bank intervention. Elevated West Asia tensions, higher global crude-oil prices and cautious foreign investment flows continued to pressure the currency. Market attention remained focused on global developments, crude-oil movements and foreign institutional investment activity, alongside an increase in foreign-exchange reserves.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>MP industrial corporation, Amazon ink pact to accelerate e-commerce exports</title>
<link>https://www.taxtmi.com/news?id=73887</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73887</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[A memorandum of understanding supports Madhya Pradesh businesses, including MSMEs, entrepreneurs, direct-to-consumer brands, manufacturers, weavers, artisans and producers, in accessing international customers through the Amazon Global Selling programme. The collaboration will improve e-commerce export awareness, exporter readiness and knowledge sharing, while developing a state export roadmap with policy and infrastructure recommendations. It will also identify interventions relating to logistics, access to finance, payment reconciliation and regulatory enablers for cross-border exports.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Following are the top foreign stories at 2015 hours</title>
<link>https://www.taxtmi.com/news?id=73886</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73886</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Proposed trade tariffs on purchases of Russian oil would target specified countries, including India and China, while exempting European purchasers of Russian gas. Separately, tighter United States visa regulations for international students, exchange visitors and journalists would end a long-standing arrangement allowing indefinite residence without government oversight. The reported changes may materially affect foreign nationals, including Indian nationals, through differentiated trade treatment and enhanced immigration compliance requirements.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Pending civil suits, arbitral claims stand abated after resolution plan approved under IBC: SC</title>
<link>https://www.taxtmi.com/news?id=73885</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73885</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[The clean slate doctrine under the Insolvency and Bankruptcy Code is described as abating or extinguishing pending civil suits and arbitration involving pre-insolvency operational claims that had not crystallised into determinable and quantifiable amounts before resolution-plan approval. Claims must be submitted to and determined by the resolution professional, and only crystallised claims incorporated in the approved plan remain payable under its prescribed treatment. Once final, the creditor list and approved plan bind all stakeholders.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>India'??s forex kitty jumps USD 964 mn to USD 675.15 bn</title>
<link>https://www.taxtmi.com/news?id=73884</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73884</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Foreign exchange reserves increased during the reporting week, principally because foreign currency assets rose. Reserve components include foreign currency assets, gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund. Foreign currency assets, expressed in dollar terms, reflect valuation effects arising from movements in non-US currencies held in the reserves. Gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund also increased.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Rupee rises 14 paise to close at 96.28 against US dollar</title>
<link>https://www.taxtmi.com/news?id=73883</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73883</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[The rupee strengthened against the US dollar following four declining sessions, reportedly amid possible Reserve Bank of India intervention. Elevated West Asia tensions, higher crude-oil prices and cautious foreign fund flows continued to weigh on the currency, despite consolidation in the absence of major domestic triggers. Market participants were expected to monitor global developments, crude-oil movements and foreign institutional investor activity for the next directional move.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Office of Economic Adviser to Release Revised Index of Core Industries Series with Base Year 2022–23</title>
<link>https://www.taxtmi.com/news?id=73882</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73882</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[The revised Index of Core Industries adopts 2022-23 as its base year and replaces the 2011-12 series. Its weights are derived from the 2022-23 Index of Industrial Production and redistributed pro rata to total 100. Iron Ore is added as a core industry, expanding the basket to nine industries. The Steel Index will use gross production data for consistency with the Index of Industrial Production. In the Coal sector, only Raw Coal is retained; Coal Middlings and Washed Coal are excluded to prevent double counting.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Fourth Edition of IICA’s National Conference on Responsible Business Conduct (NCRBC) 2026 held in New Delhi</title>
<link>https://www.taxtmi.com/news?id=73881</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73881</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[ESG-led responsible business conduct requires sustainability disclosures that are relevant, comparable, evidence-based and verifiable, supported by reliable systems, internal controls, documentation, traceability and independent examination. Sustainability should be integrated into board-level decision-making, fiduciary responsibilities, risk management and long-term enterprise value. Stronger governance, accountability and data-assurance frameworks are needed to address greenwashing, with proportionate reporting, technology and capacity-building supporting implementation across value chains and MSMEs.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases</title>
<link>https://www.taxtmi.com/news?id=73880</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73880</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Promoter and promoter-group shareholding in Reliance Industries Ltd increased by nearly 0.5 percentage points through market purchases during the June quarter. The purchases were reported to be within SEBI creeping acquisition limits, allowing gradual promoter acquisitions without triggering a mandatory open offer where prescribed thresholds are met. The increase may strengthen promoter control and marginally reduce public float, and was characterised as reflecting confidence in long-term growth, earnings trajectory and capital-allocation plans.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>US Senate bill seeks 100% tariffs on India, 4 other nations for buying Russian oil</title>
<link>https://www.taxtmi.com/news?id=73879</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73879</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Proposed United States Senate legislation would impose mandatory tariffs on imports from leading purchasers of Russian oil or gas and leading facilitators of Russian oil-sanctions evasion. It provides for periodic reassessment and tariff adjustments, while exempting qualifying countries reducing Russian gas imports. Russian uranium purchases for specified nuclear and medical needs, and certain nuclear and space cooperation activities, would be excluded.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>NRIs can bring USD 70-80 bn into India through FCNR deposits: expert</title>
<link>https://www.taxtmi.com/news?id=73878</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73878</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Foreign Currency Non-Resident deposits allow Non-Resident Indians and Persons of Indian Origin to maintain overseas earnings as foreign-currency fixed deposits with Indian banks without conversion into Indian rupees. Banks may offer enhanced interest rates for a limited period under an initiative intended to strengthen foreign-exchange reserves and support the rupee. The framework covers the investment process, regulatory requirements, taxation aspects and advantages for eligible overseas investors.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>NetAcct Solutions Launches Entries ERP Powered by the Entries AI Platform</title>
<link>https://www.taxtmi.com/news?id=73877</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73877</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[The unified cloud platform combines accounting, manufacturing, inventory, procurement, human resources, payroll, compliance, reporting and document management with an embedded AI agent. Its compliance functions include GST validation, purchase-register reconciliation with GSTR-2B, input tax credit support, supplier filing-gap detection, e-invoicing, e-way bills, TDS and statutory due-date tracking. Financial and operational workflows are intended to use common real-time data, with automation for invoices, journal entries, reconciliations, reporting, workflow approvals and compliance-risk monitoring.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Union Minister of Commerce and Industry, Shri Piyush Goyal Leads High-Level Delegation to Finland to Strengthen Trade and Investment Ties</title>
<link>https://www.taxtmi.com/news?id=73876</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73876</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Bilateral trade and investment cooperation was advanced through ministerial discussions and industry engagements concerning financial markets, innovation, enterprise financing and commercial relations. Two institutional Memoranda of Understanding established mechanisms for industry collaboration and greater business engagement. Sector-specific interactions covered digital and frontier technologies, space, clean energy, bioeconomy, circular economy, infrastructure and advanced manufacturing, focusing on collaboration, investment and technology partnerships.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>India Achieves Major Milestone at Codex Commission with Adoption of Three Global Standards for Spices</title>
<link>https://www.taxtmi.com/news?id=73875</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73875</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Codex standards for large cardamom, coriander and vanilla establish harmonised international quality benchmarks following review by relevant committees on analytical methods, food additives and food labelling. The standards are intended to promote consistent quality requirements, facilitate trade, improve market access and support export competitiveness. India was also accepted as Co-Chair of an Electronic Working Group developing policy guidance on risk analysis for new food products.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Centre for Trade and Investment Law launches guidebook to help Indian MSMEs expand into global markets</title>
<link>https://www.taxtmi.com/news?id=73874</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73874</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Export readiness for Indian MSMEs is supported through practical guidance on identifying export opportunities, market-access requirements, trade intelligence tools, international standards, sustainability requirements and buyer identification. International expansion strategies include using preferential Rules of Origin and cooperation mechanisms under Free Trade Agreements, selecting export destinations, product positioning, diversification and value addition. Trade remedy awareness and guidance on unfair trade practices and import surges, together with institutional support, partnerships and trade-exhibition participation, can strengthen global competitiveness and integration into global value chains.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Brazil calls Trump's 25 pc tariff unjustifiable, vows to impose reciprocal tariffs</title>
<link>https://www.taxtmi.com/news?id=73873</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73873</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Reciprocal tariff measures are proposed in response to a new tariff on specified Brazilian imports allegedly involving unfair trade practices. Brazil rejects those allegations and proposes to use its reciprocity-law mechanisms, including reciprocal tariffs and other trade-related countermeasures, while pursuing multilateral dispute settlement. It maintains that trade investigations must conform to multilateral international-trade rules and notes that the tariff may burden exports and increase commercial uncertainty.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Trump administration races clock to rebuild US tariff wall knocked down by SC</title>
<link>https://www.taxtmi.com/news?id=73872</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73872</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Import-tariff authority is shifting from emergency-based measures to temporary and investigatory powers under the Trade Act of 1974. Section 122 supports a global tariff measure only for a limited period, whereas Section 301 permits tariffs or trade sanctions for unjustifiable, unreasonable, or discriminatory foreign trade practices after required public-comment and hearing procedures. Current Section 301 investigations concern forced-labour imports and alleged overproduction by trading partners. A more rule-bound tariff framework may reduce, but not eliminate, commercial uncertainty, and broad use of Section 301 for near-universal tariffs may face legal challenge.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>JK marks maiden export of premium cherries, plums to Singapore</title>
<link>https://www.taxtmi.com/news?id=73871</link>
<guid isPermaLink="true">https://www.taxtmi.com/news?id=73871</guid>
<pubDate>Sun, 19 Jul 2026 21:36:39 +0530</pubDate>
<description><![CDATA[Export of premium cherries and plums from Jammu and Kashmir to Singapore was facilitated to expand overseas market access for temperate fruits. The produce underwent scientific cultivation, optimum-maturity harvesting, grading, sorting, packing and cold-chain handling in compliance with international food-safety and phytosanitary standards. The initiative highlights quality enhancement, market development, logistics, export-oriented production and improved post-harvest management for horticultural exports.]]></description>
<category>TaxLaws</category>
<category>News</category>
<category>TaxTMI</category>
        </item>
<item>
<title>TMI Updates - Newsletter dated: July 19, 2026</title>
<link>https://www.taxtmi.com/newsletter?id=07/19/2026</link>
<guid isPermaLink="true">https://www.taxtmi.com/newsletter?id=07/19/2026</guid>
<description><![CDATA[Newsletter for tax updates and legal information]]></description>
<category>Daily Updates</category>
<category>Tax</category>
        </item>
    </channel>
</rss>