India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
NEW DELHI, April 1 (Reuters) - India said it would not apply its strict tax evasion rules on foreign investments made before April 2017, easing concerns among global investors on Wednesday after a court order in a Tiger Global case raised fears of retrospective scrutiny. A landmark Supreme Court ruling in December said Tiger Global must pay taxes on its $1.6 billion sale of a stake in an Indian company in 2018. The judges said Tiger Global used its Mauritius units that were only "conduits", and no benefit under an international treaty for pre-2017 investments would apply. Tiger Global denied wrongdoing. Investors were worried the ruling would allow Indian tax officers to reopen any past transactions related to investments made before 2017, especially those routed via tax havens such as Mauritius. On Wednesday, India's income tax department said gains from investments made before April 2017 would not be subject to any scrutiny based on the country's stricter anti-tax avoidance rules that seek to curb aggressive tax planning and evasion. "This clarifies that investments up to April 1, 2017 are protected from subsequent changes in tax regulations," said Riaz Thingna, a partner at consultancy Grant Thornton Bharat. This would allay fears of retrospective taxation, a longstanding concern for global investors, and reinforce India's image as a transparent tax regime, he added. India, one of the world's fastest-growing major economies, has long attracted foreign investors. But tax uncertainty has remained a key concern, from treaty interpretation and import scrutiny to prolonged litigation. Volkswagen is challenging in court India's demand for back taxes running into a record $1.4 billion, which came after 12 years of scrutiny over alleged improper import declarations. In another high-profile tax saga, Vodafone won its case against a $2 billion retrospective Indian tax demand in 2020 after more than a decade of legal battles with New Delhi, including international arbitration at The Hague.
New Delhi [India], January 8 (ANI): The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (EY India). EY India also asks for deferring tax deduction at source (TDS) on PF interest rate (above 2.5 lakhs) until the withdrawal stage to reduce compliance burden. In the previous budget TDS rate rationalization was undertaken to a certain extent. To further simplify th ...Read More >
Guwahati, Jun 5 (PTI) The Assam Congress on Thursday demanded a CBI inquiry into alleged illegal stone mining in Karbi Anglong district in violation of a Supreme Court order. Addressing a press conference here, former Rajya Sabha member Ripun Bora also alleged that Karbi Anglong Autonomous Council Chief Executive Member Tuliram Ronghang was allowing illegal activities in the district in nexus with Chief Minister Himanta Biswa Sarma. "Large-scale illegal stone mining is taking place in the hills of Karbi Anglong in violation of the Supreme Court order. The SC had banned mining in and around K ...Read More >
Berhampur (Odisha), Jun 6 (PTI) Environmental activist Medha Patkar on Saturday appealed to the people of Odisha for protection of Rushikulya river. The government planned to construct a dam in the river Pipalapnaka under Sorada block in the district. While participating in the Save Rushikulya river movement in Ganjam district, she said, "Rivers may be small or big, but they are our mother. We have to protect the rivers from attacks." She attended a meeting were organised by the Rushikulya Banchao Kriyaanusthan Committee (RBKC) and the Centre for Climate Justice, spearheading the agitation a ...Read More >
Chandigarh, June 26 (UNI) The Shiromani Akali Dal today accused Punjab's Aam Aadmi Party (AAP) government of "violating the law" by registering a disproportionate assets case against senior SAD leader Bikram Singh Majithia without holding either a preliminary or regular probe. The SAD also charged the ruling AAP with indulging in "political vendetta to gag" Majithia as well as divert attention from the failure of its 'Yudh Nashean Virudh' drive. Addressing a press conference here, senior leaders Balwinder Singh Bhundar, Maheshinder Singh Grewal and Daljit Singh Cheema alleged the AAP governm ...Read More >
Bengaluru: Mysuru Dasara is set to run for 11 days this year -- a rare extension driven by celestial alignment and cultural planning -- with the inaugural ceremony on Sept 22 and the grand Jamboo Savari taking place on Oct 2, coinciding with Vijayadashami and Gandhi Jayanti.Chairing a high-level meeting at Vidhana Soudha Friday, chief minister Siddaramaiah said, "Mysuru Dasara in 2025 will be celebrated for 11 days, due to a unique astronomical occurrence -- the Panchami tithi (fifth lunar day) will appear on two consecutive days, Sept 26 and 27, a rare alignment that hasn't occurred in nearly ...Read More >
New Delhi: With 15 million registered taxpayers and robust growth in the revenue receipts, the Goods and Services Tax (GST) ecosystem is continuing to evolve with a focus on ease of doing business, better compliance and wider economic participation, the finance ministry said on Monday as the indirect tax system completed eight years. Annual revenue from GST, introduced on 1 July 2017, has doubled to ₹22.08 trillion in FY25 from five years ago and micro, small and medium enterprises are finding easier access to credit, the ministry said. In FY21, the combined Central and state GST revenue coll ...Read More >
Vijayawada: Andhra Pradesh recorded highest net GST collections amounting to 78,860 crore, reflecting a growth of 3.40% in first quarter of financial year. Total tax collections in Q1 (including all sectors) stood at Rs 213,361 crore, compared to Rs 13,096 crore in FY 2024-25, showing a growth of 2.02%, which indicates a sustained and healthy growth trajectory over the same period, according to Commissioner of Commercial Taxes Babu A. For three consecutive months - April, May, and June 2025, the State has recorded the highest-ever net GST collections for each respective month when compared to ...Read More >
New Delhi, Dec 12 (VOICE) The Supreme Court on Thursday ordered that no fresh suits would be registered under the Places of Worship Act in the country, and in the pending cases, no final or effective orders would be passed till further orders of the Apex Court. A Special Bench headed by CJI Sajiv Khanna asked the Union government to file within four weeks its reply to the clutch of petitions challenging the validity of the 1991 Act, which prohibits the filing of a lawsuit to reclaim a place of worship or seek a change in its character from what prevailed on August 15, 1947. The Bench, also c ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
Bengaluru Power Cuts: Citizens of Bengaluru brace yourself for long hours of power outages from June 29 and June 30. More than 100 areas will be impacted as BESCOM undertakes its quarterly maintenance work in various of its division. Bengaluru Power Outages June 29: According to the update by BESCOM on its X handler, there will be power outages in Kittaganahalli, Palasandra, Saptagiri, Maruthinagar, Sankapur, Raghavendra Nagar, Goolarivee, Baddihalli, Kesaramadu, C.M Badawan, Kalalli and SKS village on June 29 from 10 am to 5 pm. BESCOM's executive engineer has appealed to consumers to coop ...Read More >
MUMBAI (Reuters) -Indian billionaire Gautam Adani's flagship firm plans to raise up to 10 billion rupees ($116.77 million) through a retail bond issue opening for public subscription next week, two sources aware of the development told Reuters on Tuesday. Adani Enterprises will sell two-year, three-year and five-year bonds through the issue, which will remain open for subscription from July 9 to July 22, the sources added. The company will pay an annual coupon of 8.95% on its two-year bonds, 9.15% on three-year bonds and 9.30% on five-year bonds, and will also have an option to defer interes ...Read More >
Chandigarh, Jul 1 (PTI) Punjab registered a record 44.44 per cent growth in net goods and services tax collections at Rs 2,379.90 crore in June 2025, said Finance Minister Harpal Singh Cheema on Tuesday. Addressing the media here, Cheema said Punjab outpaced the national average in GST collection growth, firmly positioning itself among the top-performing states in tax mobilization despite facing national and geopolitical challenges, including border-related tensions. Also Read | Who Is PVN Madhav? Here's Everything You Need To Know About the Newly Appointed Andhra Pradesh BJP President. The ...Read More >
The Supreme Court halted new temple-mosque legal battles. The court will review the 1991 law impacting religious site status. This law froze the status of religious sites as of August 15, 1947. Several cases, including Gyanvapi and Shahi Idgah, challenge this law. The law's validity is being questioned. The court's decision impacts ongoing and future disputes.In its ruling on the keenly-watched Place of Worship Act case, the Supreme Court said on December 12 that no new Mandir-Masjid suits are to ...Read More >
Chandigarh, Jun 26 (PTI) A Mohali court on Thursday sent to a seven-day remand Shiromani Akali Dal leader Bikram Singh Majithia, who was arrested by the Vigilance Bureau on Wednesday in an alleged disproportionate assets case involving Rs 540 crore of laundered "drug money". Before producing Majithia in court amid tight security arrangements, police detained several Akali supporters protesting against the arrest near the court complex. Ferry Sofat, the counsel representing the bureau, told reporters the court has sent Majithia to seven-day vigilance remand, with the next date set on July 2. ...Read More >
New Delhi: The Hague-based Court of Arbitration (CoA), examining the design of Kishanganga and Ratle hydropower projects at Pakistan's behest, in a 'supplementary award' declared that it was competent to address the dispute under the Indus Waters Treaty (IWT) despite India's decision to put the agreement in abeyance. India, however, firmly rejected this order, terming the court itself as "illegal" - a position taken much before the Pahalgam attacks. New Delhi had decided to cooperate only with neutral expert, asserting that two simultaneous processes cannot be in play. "This latest charade a ...Read More >
CHENNAI: The Madras High Court has ruled that tapping of phones of individuals in a covert operation to detect crimes amounts to violation of the right to privacy, which is an integral part of the fundamental right to life guaranteed under Article 21 of the Constitution. However, the court said tapping can be done on the occurrence of a public emergency or in the interest of public safety as per the law. Justice N Anand Venkatesh delivered the ruling on Wednesday, allowing a 2018 petition filed by P. Kishore, Managing Director of Everron Education Limited, a Chennai-based company. The petiti ...Read More >
The Supreme Court on Monday stayed further recovery of an outstanding tax demand from news portal NewsClick, directing the company's banker not to release any more money to the tax department based on a 2023 notice, and allowing the portal to use its two bank accounts for daily operations. The order was passed by a bench headed by justice BV Nagarathna on an application moved by PPK Newsclick Studio Limited, which alleged that ICICI Bank was not allowing the company to use its accounts despite a top court order to this effect passed on August 9. The tax department had raised the demand again ...Read More >
Kolkata: The number of Bangladeshi released prisoners languishing in correctional homes across the state has come down to 179 -- as of Jan 1, 2024 -- compared to 495 in 2011. According to the West Bengal Correctional Services data, there were 212 released foreign nationals or 'jankhalash' -- 136 men and 76 women -- in correctional homes in the state as of Jan 1, 2024, out of which 179 were from Bangladesh. Most of these foreigners were lodged in Dum Dum Central Correctional Home (171), while the rest were in Berhampore CCH (24), Jalpaiguri CCH (16), and Presidency CCH (1). On Jan 30, the Sup ...Read More >
Katra: Prime Minister Narendra Modi visited Jammu and Kashmir on Friday to inaugurate multiple rail projects, including the world's highest Chenab Rail Bridge, the Anji Khad Bridge, and the Katra-Srinagar Vande Bharat Express, as part of the Udhampur-Srinagar-Baramulla Rail Link. These railway projects directly connect Jammu and Kashmir to the rest of the country. The Udhampur-Srinagar-Baramulla Rail Link is an all-weather railway corridor designed to provide seamless connectivity to the region through the rail network. During his visit, PM Modi reviewed the Chenab bridge, world's highest ra ...Read More >
New Delhi: The Centre on Friday cleared the appointment of two additional judges to the Bombay High Court following the recommendation made by the Supreme Court Collegium. "In exercise of the power conferred by clause (1) of Article 224 of the Constitution of India, the President is pleased to appoint S/Shri (i) Gautam Ashwin Ankhad and (ii) Mahendra Madhavrao Nerlikar, to be Additional Judges of the Bombay High Court for a period of two years, in that order of seniority, with effect from the date they assume charge of their respective offices," said a notification issued by the Union Ministr ...Read More >
For investors, this means that any profits made from selling cryptocurrencies will now be subject to capital gains tax.Source : Ewan Kennedy/Unsplash The Income Tax Appellate Tribunal (ITAT) in Jodhpur has provided much-needed clarity on the taxation of cryptocurrencies in India. The ruling recognises cryptocurrencies as capital assets, setting a framework for how profits from their sale are taxed, especially for transactions made before the Government introduced specific guidelines for Virtual ...Read More >
New Delhi, January 27: The Supreme Court has upheld an order passed by the apex court registry in August 2024 refusing to admit a lawyer's application seeking direction to SEBI to submit its conclusive probe report into the Adani-Hindenburg controversy. Advocate Vishal Tiwari had moved an appeal against the order passed by the Registrar on August 5 last year. Earlier on July 15, 2024, the top court had dismissed a review petition filed against its earlier verdict refusing to form any SIT or group of experts to conduct an investigation. After perusing the review petition, a bench, headed by th ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in a statement. The current account had registered a surplus of $4.6 billion or 0.5% of GDP in the same ...Read More >
New Delhi: India on Friday strongly rejected a ruling by the Permanent Court of Arbitration in The Hague regarding two hydroelectric projects in Jammu and Kashmir, stating that it has never recognised the so-called framework for dispute resolution with Pakistan. India rejects this so-called "supplemental award", the Ministry of External Affairs (MEA) said, referring to the ruling in the case related to Pakistan's objections to Kishenganga and Ratle hydropower projects. In its ruling, the Court of Arbitration stated that India's April decision to put the Indus Waters Treaty on hold "does not ...Read More >
New Delhi: The Supreme Court Monday dismissed a petition filed by former IPL commissioner Lalit Modi, who had sought a direction for the BCCI to indemnify him for a Rs 10.65 crore penalty imposed under the Foreign Exchange Management Act (FEMA). The court declined to entertain the plea, effectively leaving Modi liable for the payment. A Bench of Justices PS Narasimha and R Mahadevan declined to interfere with a decision of the Bombay High Court turning down his writ petition seeking a direction to the BCCI to pay this penalty imposed by the Enforcement Directorate (ED) for purported infractio ...Read More >
Thiruvananthapuram: Ravada A Chandrasekhar took charge as the new State Police Chief on Tuesday. He succeeds Shaik Darvesh Saheb, who retired on June 30. His tenure will run until July 1, 2027. A 1991-batch IPS officer currently serving as Special Director with the Intelligence Bureau, Chandrasekhar is on central deputation. He was selected over Nitin Agarwal, who topped the official list of probables. The appointment order, issued by Kerala Chief Secretary Dr A Jayathilak on behalf of the Governor, was released soon after a cabinet meeting held on Monday. Hailing from Andhra Pradesh's Godav ...Read More >
Despite its vast potential, the full capabilities of GST data remain largely unrealised. While aggregate data provides a broad overview of tax performance and health of the Indian economy, disaggregated sector-wise information is crucial for evidence-based policymaking. A closer look at the performance of GST revenue collection raises several questions. First, though the growth of GST revenue collection improved in the last seven years (13 per cent) compared to the pre-GST period 2012-17 (11.8 per cent), there has been hardly an increase in the tax base of GST in the last seven years compared ...Read More >
Hyderabad: The Telangana Waqf Board is yet to begin geo-tagging waqf properties on the UMEED portal, which the Central government launched following the implementation of the Waqf Amendment Act. The board said it is waiting for the Supreme Court's verdict. The Unified-waqf Management, Empowerment, Efficiency and Development (UMEED) will serve as a centralised digital platform for real time uploading, verification, and monitoring of waqf properties. Telangana Waqf Board chairman Azmattullah Husseini said the Centre should have waited until the Supreme Court verdict on the Waqf Amendment Act. ...Read More >
Gurgaon: MCG additional commissioner Yash Jaluka directed bulk waste generators (BWG) across the city to ensure proper disposal of waste by private agencies who are assisting them. Giving these instructions in a meeting held on Friday, he said it is often observed that BWGs hand over their waste to private agencies, which only sort valuable items and dump the remaining waste on roads, drains, vacant land or public places. This, he said, not only affects cleanliness of the city but also poses a threat to public health."Under the Solid Waste Management Rules-2016, it is the legal and moral respo ...Read More >