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New Delhi: The government has marginally exceeded its indirect tax collection target for 2025-26, buoyed by steady inflows from customs, excise and GST, even as collections from a key cess on pan masala fell short of expectations, an official said on Thursday. As per Revised Estimates (RE), total indirect tax collections -- comprising customs duty, excise duty and Central Goods and Services Tax (CGST) -- were pegged at over Rs 15.52 lakh crore for FY26. This included Rs 2.58 lakh crore from cus ...Read More >
Congress leader Rahul Gandhi on Thursday flagged deficiencies within the Ex-Servicemen Contributory Health Scheme (ECHS) and said the government should, at the very least, accord respect and support to the brave armed forces personnel who sacrifice everything for the country. Gandhi said that a few days ago, he met ex-servicemen who were injured in the line of duty while defending the nation at the 'Jansansad'. "They highlighted serious deficiencies within the Ex-Servicemen Contributory Health ...Read More >
The tax will be levied as a lumpsum at the time of registration (file) ShowQuick Read Summary is AI-generated, newsroom-reviewed * Karnataka plans to end road tax exemption on battery-operated electric vehicles * The Motor Vehicles Taxation Bill 2026 proposes separate lifetime tax slabs for EVs * One-time tax will range from 10% to 14% based on EV price categories Did our AI summary help? Let us know. Switch To Beeps Mode Bengaluru: One may soon have to shell out more bucks to buy an e ...Read More >
New Delhi, Apr 2 (PTI) Congress leader Rahul Gandhi on Thursday flagged deficiencies within the Ex-Servicemen Contributory Health Scheme (ECHS) and said the government should, at the very least, accord respect and support to the brave armed forces personnel who sacrifice everything for the country. Gandhi said that a few days ago, he met ex-servicemen who were injured in the line of duty while defending the nation at the 'Jansansad'. "They highlighted serious deficiencies within the Ex-Service ...Read More >
New Delhi, April 2: Congress leader Rahul Gandhi on Thursday raised concerns over the functioning of the Ex-Servicemen Contributory Health Scheme (ECHS), alleging serious lapses in healthcare access for retired armed forces personnel. Citing interactions with injured ex-servicemen at a 'Jansansad' event, Gandhi highlighted issues such as delayed reimbursements, medicine shortages, and denial of treatment by empanelled hospitals. In a post on Facebook, Congress MP wrote, "A few days ago, I met w ...Read More >
New Delhi [India], April 2 (ANI): Lok Sabha on Wednesday passed the Jan Vishwas (Amendment of Provisions) Bill, 2026 which is aimed at promoting Ease of Doing Business and Ease of Living, while advancing a governance framework based on trust and proportionate regulation. The Bill seeks to amendment 784 provisions of 79 Central Acts administered by 23 Ministries, decriminalise 717 provisions to promote Ease of Doing Business and amend of 67 provisions to facilitate Ease of Living. Also Read | C ...Read More >
New Delhi [India], April 2 (ANI): Lok Sabha on Wednesday passed the Jan Vishwas (Amendment of Provisions) Bill, 2026 which is aimed at promoting Ease of Doing Business and Ease of Living, while advancing a governance framework based on trust and proportionate regulation. The Bill seeks to amendment 784 provisions of 79 Central Acts administered by 23 Ministries, decriminalise 717 provisions to promote Ease of Doing Business and amend of 67 provisions to facilitate Ease of Living. Commerce and ...Read More >
Mumbai, April 1 (SocialNews.XYZ) Maharashtra Revenue Minister Chandrashekhar Bawankule said on Wednesday that the state government avoided a proposed 12 to 14 per cent increase in ready reckoner (RR) rates, citing prevailing global and war conditions. "The state government rejected the proposed increase in property rates to protect public interest," he added. He said micro-zoning would be implemented in metropolitan cities such as Mumbai, Pune, Thane, Nagpur and Chhatrapati Sambhajinagar, unde ...Read More >
Dimapur, April 1 (MExN): Nagaland emerged as one of the top-performing states in Goods and Services Tax (GST) growth during the financial year 2025-26, registering a 28.4% year-on-year increase in domestic collections, significantly higher than the national average. The growth places Nagaland as his at the top among States/Union Territories in year-on-year % growth in domestic GST collections. Only OIDAR (Online Information Database Access and Retrieval services) showed higher growth than the S ...Read More >
New Delhi, Apr 1 (PTI) The Municipal Corporation of Delhi (MCD) has recorded a 46 per cent rise in property tax collection in 2025-26, due to improved compliance, enforcement measures and the property amnesty scheme. According to an official statement issued by the civic body on Wednesday, property tax collection surged 46.12 per cent to Rs 3,116.62 crore in FY26 from Rs 2,132.89 crore collected in the previous financial year. The number of taxpayers increased 19.36 per cent to 13,52,562 in 20 ...Read More >
New Delhi, April 1 (UNI): Municipal Corporation of Delhi (MCD) has reported a record-breaking rise in property tax collection for the financial year 2025-26, signaling improved compliance and stronger enforcement. According to official data, the civic body collected Rs 3,116.62 crore by March 31, marking a significant 46.12% increase compared to Rs 2,132.89 crore in the previous financial year. Officials credited the achievement to administrative reforms and leadership under Delhi Mayor Raja I ...Read More >
Thane, April 1: The Thane Municipal Corporation (TMC) has achieved a landmark milestone by collecting a record ₹878.37 crore in property tax for the financial year 2025-26. This impressive figure represents 96% of the ₹915 crore target set by the administration, marking a significant growth of ₹68.37 crore compared to the previous fiscal year. Digital payments drive collection Mayor Sharmila Pimpolkar and Municipal Commissioner Saurabh Rao extended their gratitude to the citizens of Thane for ...Read More >
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 ...Read More >
The Municipal Corporation of Gurugram (MCG) has urged property owners to clear their dues within the next three days, with March 31 marking the deadline for property tax payment for the current financial year, officials said. Civic officials said that once the new financial year begins, an interest of 18% per annum will be levied on pending dues, significantly increasing the financial burden on defaulters. Property owners who have not yet paid their taxes have been advised to do so before the d ...Read More >
Vijayawada: Andhra Pradesh has collected property tax of about 2,300.80 crore out of the total annual dues of Rs 5,187.42 crore by Tuesday evening, towards the end of the financial year. The state government had given a 50 per cent waiver on interest of all tax dues in case the total dues are paid, at a time, for the second consecutive year. This was to encourage the taxpayers to avail the opportunity and clear the dues. However, less than 50 per cent of collections was realised out of the tota ...Read More >
Mumbai, March 31: The BMC is confident to achieve 100% property tax collection for the financial year 2025-26, with 94.12% of its target already realised. According to civic officials, the BMC has collected Rs 6,910 crore, and penalty of Rs 274, against its target of Rs 7,341 crore as of the night of March 30, marking the highest-ever recovery at this stage of the fiscal year. Deputy Municipal Commissioner (Assessment & Collection) Vishwas Shankarwar stated that the remaining 6% is expected to ...Read More >
NEW DELHI, March 31 (Reuters) - Indian billionaire Anil Agarwal is challenging fellow tycoon Gautam Adani's winning bid for a bankrupt real estate giant in the Supreme Court, intensifying the fight over a $4 billion pool of prized assets that includes the country's only Formula One track. Agarwal's Vedanta has mounted a legal challenge over a creditor committee's decision to award the assets of Jaiprakash Associates (JAIA.NS), opens new tab to Adani, a portfolio that includes homes, power, ceme ...Read More >
New Delhi, March 31 (SocialNews.XYZ) As India approaches the new fiscal year FY27, the country's direct tax system is set for a major overhaul from April 1, 2026, with the new Income Tax Act, 2025, coming into force -- replacing the six-decade-old 1961 legislation and introducing changes in compliance, terminology and taxation. Major reform under the new framework is the replacement of the 'Financial Year' (FY) and 'Assessment Year' (AY) with a single 'tax year', which could simplify the filing ...Read More >
Hubballi: Ina major anti-corruption operation, a Deputy Commissioner (DC) from the Commercial Tax Audit wing has been trapped by the Karnataka Lokayukta for allegedly demanding a bribe in the name of clearing GST dues. The accused officer, Bharat Hegde, was caught following a complaint lodged by a petrol bunk owner, exposing yet another instance of corruption within the tax administration system. According to officials, Bharat Hegde, who was serving as DC in the Commercial Tax Audit division, h ...Read More >
Addressing a press conference, Cheema said 882 establishments in urban centres like Mohali, Jalandhar, and Ludhiana are being investigated, with ₹2.02 crore recovered so far. The minister said that these outlets were identified through a state-wide data-driven enforcement exercise. "With the inclusion of data for the financial years 2023-24 and 2024-25, the total magnitude of evasion is likely to reach approximately ₹500 crore," he said. In the preliminary inquiry, 239 cases have been exami ...Read More >
New Delhi, Mar 30 (PTI) The New Delhi Municipal Council on Monday said that implementing the Unit Area Method (UAM) could reduce property tax by 30 to 50 per cent, particularly benefiting old and self-occupied properties. The move is part of key amendments under the Jan Vishwas (Amendment of Provisions) Bill, 2026, which was introduced by Minister of State for Commerce and Industry Jitin Prasada in the Lok Sabha on Friday. The bill proposed multiple changes to the Delhi Municipal Corporation Ac ...Read More >
India financial reforms from April 1: Income-tax Act 2025, PAN rules, credit card reporting, TDS changes, RBI 2FA mandate and railway ticket rules explained India is set to usher in a wide-ranging set of regulatory and financial changes from April 1, 2026, covering taxation, banking, digital payments, credit cards, labour laws, and railway ticketing, as part of efforts to modernise systems, improve compliance, and enhance user convenience. Income-tax overhaul begins The six-decade-old Income- ...Read More >
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The majority of crypto customers still don't understand how crypto is taxed, mistakenly believing simple transfers trigger tax events. Although most crypto investors intend to comply with tax law, major confusion reigns amongst traders about cost basis, taxable events and evolving IRS regulations, Coinbase's new 2026 Crypto Tax Readiness Report shows. The survey was conducted bet ...Read More >
New Delhi, Dec 5 (UNI) India has emerged as a major global hub for electronics manufacturing, recording a sixfold jump in overall production and an eightfold rise in exports over the past eleven years, said Jitin Prasada, union Minister of State for Electronics and Information Technology, in a response in the Rajya Sabha. Electronics production in India surged from Rs 1.9 lakh crore in 2014-15 to Rs 11.32 lakh crore in 2024-25. A significant contributor has been mobile phone manufacturing, whe ...Read More >
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Monday chaired the first pre-Budget consultation meeting with country's leading economists in New Delhi in connection with the upcoming Union Budget 2026-27. New Delhi [India], November 10 (ANI): Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Monday chaired the first pre-Budget consultation meeting with country's leading economists in New Delhi in connection with the upcoming Union Budget 2026-27. Th ...Read More >
NewsVoirBengaluru (Karnataka) [India], October 24: The Goods and Services Tax (GST) has been a game-changer in India's taxation system since its rollout in 2017. After almost two decades of deliberation and planning, the country adopted a unified tax structure aimed at simplifying the complex web of state and central taxes. But the journey of GST has been anything but smooth. With its ups and downs over the past eight years, the Indian government is now implementing Next-Gen GST Reforms in 2025. ...Read More >
Founder of trade think tank Global Trade Research Initiative, Ajay Srivastava (Image: ANI)Amid a global economic slowdown, India must shift its export strategy towards long-term competitiveness, advises GTRI's Ajay Srivastava. As the global economy slows and trade dynamics shift, India must shift focus from traditional export strategies to building long-term competitiveness through technology, cost efficiency, and domestic capability, says Global Trade Research Initiative (GTRI) founder Ajay Sr ...Read More >
Mumbai: Goldman Sachs has projected a potential repo rate cut by the end of 2025, bringing relief to borrowers across the country. The global investment bank believes that recent fiscal and policy developments point toward the end of India's current monetary tightening cycle. A cut in the key policy rate would directly lower EMIs on home, car, and other loans, providing more disposable income for consumers. GST Reforms Signal Fiscal Flexibility The report highlights the recent simplification o ...Read More >
Bengaluru: The state govt has decided to levy a betterment tax and 1% stamp duty cess on properties close to the impact zone of the 117km-long tolled road of Bengaluru Business Corridor (BBC), to recover the project costs.To be completely constructed by Bangalore Development Authority (BDA), the amount collected will be remitted to the authority to pay off the Rs 27,000-crore loan obtained from HUDCO. Documents accessed by TOI reveal the govt is banking on BBC to lead to an "increase in land val ...Read More >
NEW DELHI, Oct 15 (Reuters) - Apple is lobbying India's government to modify its income tax law to ensure the company is not taxed for ownership of high-end iPhone machinery it provides to its contract manufacturers, an issue seen as a hurdle to its future expansion, sources say. The push coincides with Apple's growing India presence as it diversifies beyond China. Counterpoint Research says iPhone's share in the Indian market has doubled to 8% since 2022. And while China still accounts for 75% ...Read More >
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