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New Vivad Se Vishwas 2.0 tax resolution scheme to start on Oct 1 — what you need to know

The government has set October 1, 2024, as the launch date for Vivad Se Vishwas 2.0 to address dire…

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Comprehensive review of the IT Act imminent in 6 months, notes revenue secretary

​​Malhotra explained the government's rationale behind this proviso, noting that buyback does not f…

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6 mins read

A Deposit Dilemma — What's the fuss about a crisis in Indian bank deposits? Are mutual fund investments to blame?

The growth rate of bank deposits in India has been slowing, largely outpaced by credit growth. But …

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First draft of new and simplified Income Tax law to be prepared by internal tax dept committee: Revenue Secretary

The exercise is not linked to bringing a new direct taxes code, but a comprehensive review of the i…

PTI   


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Canada ends popular student program, Indian students to face prolonged visa processing time

The Canadian government has ended the Student Direct Stream (SDS) program for international student…

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India economic momentum remains intact, set to achieve 6.5-7% growth, says Finmin Report

Tax collections, especially indirect taxes, which reflect transactions, are growing healthily, and …

PTI   


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PM Modi calls for secular civil code, says existing laws discriminatory

"A large section of the country believes, which is true also, that the civil code is actually in a …

PTI   


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CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated

Central Board of Direct Taxes (CBDT) chairman Agrawal said the committee is looking at the best glo…

PTI   


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After outrage, Govt clarifies: tax clearance certificate only for people with tax dues, high-value defaulters

As per section 230 of the Income-tax Act, 1961, every person is not required to obtain a tax cleara…

PTI   


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India's digital public infrastructure is transforming country's economic landscape, notes RBI

Built on principles of public good, open access, and regulatory fairness, India Stack has become a …

ANI   


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Reserve Bank may act against more NBFCs to keep obscure lending practices in check, says Morgan Stanley

Earlier this month, the apex bank had already issued a stern warning to the NBFC sector, discouragi…

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Provisions of TDS/TCS, in case of death of deductee or collectee relaxed by govt

On April 23, 2024, CBDT extended the date for linking of PAN and Aadhaar May for the taxpayers (for…

ANI   


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​“Learned no lessons from Nirbhaya case”: Madhya Pradesh High Court criticises lenient treatment of crime-accused juvies in India

Madhya Pradesh High Court criticizes lenient treatment of juveniles, calls for legislative reform a…

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India's electronics manufacturing projected to double in next five years: ICICI Direct

The first quarter earnings season in the Indian stock market is almost over, with most major listed…

ANI   


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Income Tax Department seizes record ₹1,100 crore cash and jewellery in Lok Sabha elections 2024

As per the sources, by the end of May 30th, the department had seized approximately Rs 1100 crore w…

ANI   


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RBI imposes penalties on three housing finance companies for non-compliance with directions

The Reserve Bank of India has imposed monetary penalties on three Non-Banking Financial Companies f…

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DPI, bankruptcy law, tax code make India attractive investment destination: WEF official

A combination of policy changes such as bankruptcy law and taxation code and the enabling environme…

PTI   


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Economic Survey shows India's energy needs to grow 2.5x, healthy growth in formal employment

Over the last decade, the manufacturing sector managed to mark an average annual growth rate of 5.2…

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Startups demand angel tax elimination, incentives on investments in upcoming budget

Startups in India have high expectations from this year's upcoming Union Budget. The early-age star…

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Time to push divestment of state-owned banks, says SBI report

With regard to the privatisation of IDBI Bank, it said the government and Life Insurance Corporatio…

PTI