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The chartered accountants' apex body is set to propose financial and regulatory measures to help Indian Multi-Disciplinary Partnership (MDP) firms scale globally, leveraging government support and free trade agreements. How will it enable funding for MDPs? What regulatory reforms are needed to support growth? Which global opportunities can Indian MDPs tap through trade agreements? Here is what ICAI said. The Institute of Chartered Accountants of India (ICAI) is preparing a report to guide the f ...Read More >
The Institute of Chartered Accountants of India (ICAI) is in talks with the ministry of electronics and IT to share financial data of listed companies. This data will support the creation of India's own AI models. The project aims to boost locally developed large language models with reliable financial information.Chartered accountants' apex body ICAI is in discussions with the ministry of electronics and information technology (MeitY) to provide financial and economic data of listed companies f ...Read More >
Patna: The outgoing Bihar legislative assembly met for a total of 146 days between Nov 2020 and July 2025, marking the lowest number of days in all its five-year terms, according to an analysis by PRS Legislative Research on Wednesday.The outgoing 17th assembly met for an average of 29 days each year and, on those days, functioned for an average of three hours. In 2024, assemblies across all states met for an average of five hours on sitting days, the analysis said.According to the analysis, the ...Read More >
New Delhi: Federal policy think tank NITI Aayog on Friday proposed a presumptive taxation scheme for offshore companies deriving profits from India as part of efforts to enhance the country's appeal to investors with tax certainty and ease of doing business. NITI Aayog said such an optional, industry-specific scheme, along with broader legislative clarity, administrative efficiency, strong dispute resolution schemes and adoption of global best practices, will dramatically cut litigation. That w ...Read More >
New Delhi: In an effort to curtail litigation, provide greater certainty, and facilitate compliance for multinational firms in India, the government think tank NITI Aayog has suggested an optional presumptive tax regime for foreign companies. The suggestion was contained in the first paper of its recently released Tax Policy Working Paper Series, which was presented on Friday by B.V.R. Subrahmanyam, CEO of NITI Aayog. If adopted, the suggestion could represent a significant change in India's t ...Read More >
NEW DELHI, Oct 3: The Government think tank Niti Aayog on Friday suggested the introduction of a presumptive taxation scheme for foreign companies to provide certainty and simplicity. The Aayog, in a working paper, said the optional presumptive taxation scheme would help resolve disputes concerning PE (permanent establishment), simplifying compliance and protecting revenue. "The proposed presumptive taxation scheme is a proactive and pragmatic solution to a long-standing problem. "It balances ...Read More >
Speaking at the curtain raiser event for the 30th CII Partnership Summit, Andhra Pradesh Chief Minister N Chandrababu Naidu said Google will be building its biggest data centre after the US in Vishakhapatnam. Through "atmanirbharta", India is building supply chains to navigate through weaponisation of trade, Union Minister of Commerce and Industry Piyush Goyal said on September 30. Delivering the address at the curtain raiser event for the 30th CII Partnership Summit in New Delhi, Goyal said g ...Read More >
New Delhi [India], September 30 (ANI): Union Minister of Commerce and Industry Piyush Goyal on Monday said that India is steadily advancing on three core principles: Aatmanirbharta (self-reliance), Aatmavishwas (self-confidence), and Aatmaraksha (self-protection). "India is advancing on three foundational principles - Aatmanirbharta, Aatmavishwas, and Aatmaraksha. We are building robust capabilities, resilient supply chains, and dynamic value chains, while engaging globally from a position of st ...Read More >
NEW DELHI, Sept 30 (Reuters) - India's trade pact with four European nations, including Switzerland and Norway, will take effect from Wednesday, boosting exports of textiles, leather and food products while attracting investments, a government statement said. Under the Trade and Economic Partnership Agreement, opens new tab, signed last March after nearly 16 years of negotiations, the European Free Trade Association - comprising Switzerland, Norway, Iceland and Liechtenstein - will cut tariffs ...Read More >
MUMBAI, Sept 30 (Reuters) - India's National Stock Exchange will offer a daily expiry on GIFT Nifty (.GIFc1), opens new tab contracts to foreign investors via a tax-neutral jurisdiction as it seeks to attract more global funds, diverging from domestic markets' tighter equity derivatives rules. GIFT Nifty is a dollar-denominated derivative contract of the Nifty 50 traded on NSE subsidiary, the NSE International Exchange (NSE IX) in Gujarat International Finance Tech (GIFT) City. In August, the c ...Read More >
The recent GST reforms will spur market consumption and boost the domestic economy, Minister of State for Finance Pankaj Chaudhary said on Monday. He said the impact of these reforms will be known in the next four to six months. Chaudhary interacted with businessmen, entrepreneurs, and tax experts in Indore regarding the Goods and Services Tax reforms. "Prime Minister Narendra Modi believes that when GST reforms bring additional money into the hands of the common people, it will definitely bo ...Read More >
Sehore (Madhya Pradesh) [India], September 29 (ANI): Union Minister Shivraj Singh Chouhan on Monday interacted with local shopkeepers in a public outreach initiative aimed at promoting Swadeshi products and raising awareness about the revised GST (Goods and Services Tax) rates. The campaign aims to promote the use of locally produced goods while keeping traders and consumers informed about the latest tax updates. Also Read | 'Her Mann Ki Baat': PM Narendra Modi Writes Foreword for Italian Coun ...Read More >
MUMBAI: The third major global rating agency Moody's Ratings has reaffirmed its Baa3 (BBB-) sovereign rating on the country and retained the outlook at stable, one month after rival Fitch also maintained the rating at the lowest investment-grade level. On the other hand, the largest agency S&P had on August 14 upgraded the country to BBB from BBB- for the first time in 18 years. "The rating affirmation of BBB- rating and stable outlook reflect our view that India's prevailing credit strengths i ...Read More >
Kolkata: The government's recent circular has brought clarity on trade discounts and credit notes under the GST regime, but has shifted compliance obligation and cash-flow pressure onto FMCG distributors, experts said. Indirect Tax Expert at LexVed Vedika Agrawal said the GST circular 251 makes it clear that financial or commercial credit notes - those issued without GST - do not require distributors to reverse their input tax credit (ITC). Input tax credit is the tax a business unit pays on i ...Read More >
Bengaluru (Karnataka) [India], September 27: In today business landscape, where financial intelligence drives corporate decisions, the CMA course has emerged as one of the most powerful credentials for ambitious professionals. Miles Education, with its 70,000+ alumni and global reputation, has been at the forefront of preparing students to conquer the world of management accounting. The program doesnt just teach you theories--it transforms you into a leader who can navigate complex financial lan ...Read More >
Akhilesh Yadav promised journalists that even cases against them would also be withdrawn when the SP government comes to power and added, "We would even help you with Income Tax and ED cases as well." Announcing Azam Khan's release from Sitapur jail, Samajwadi Party Chief Akhilesh Yadav Tuesday said cases against the leader would be withdrawn when the party comes to power. ARTICLE CONTINUES BELOW VIDEO Amid speculations about Khan joining the Bahujan Samaj Party, Akhilesh called him the main ...Read More >
New Delhi [India], September 26 (ANI): Indian households are set to benefit from tax savings of up to 27 to 30 per cent under the new GST 2.0 regime, according to a report released by the Federation of Indian Chambers of Commerce and Industry's Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (FICCI CASCADE) along with the Thought Arbitrage Research Institute (TARI). The joint report, titled "Decoding the Journey of GST Reforms: GST and Its Effect on Economy, Bus ...Read More >
India's auto industry is suddenly having a blast. After months of lacklustre sales, the world's third-largest car market is experiencing a revival, thanks to the government's decision to reduce GST. To add to that, the cuts also came ahead of the festive season, which typically contributes to about 40 percent of the annual sales. "The GST cut has created a genuine affordability kicker just ahead of the festive window. Passenger cars, two-wheelers, and parts moving from 28 percent to 18 percent ...Read More >
New Delhi [India], September 26: In a significant move aimed at boosting the automobile sector, the Government of India has recently announced a reduction in Goods and Services Tax (GST) rates across various vehicle categories. This change is expected to make vehicles more affordable, especially in the small and medium segments, thereby encouraging first-time buyers and expanding household mobility. * This makes them more accessible for first-time buyers and enhances mobility for households. * ...Read More >
Hyderabad: The Telangana BJP state office witnessed a solemn and spirited celebration on the occasion of Pandit Deendayal Upadhyaya's birth anniversary. The event was attended by BJP OBC Morcha National President and Rajya Sabha MP Dr. K. Laxman, BJP State Organizational General Secretary Chandrashekhar Tiwari, senior leaders, and party office bearers. Floral tributes were offered to the portrait of Pandit Upadhyaya, honoring his legacy of integral humanism and social justice. Addressing the gat ...Read More >
Addressing the inauguration event of the Uttar Pradesh International Trade Show 2025 in Uttar Pradesh's Greater Noida, the Prime Minister said the structural reforms in GST are set to give new wings to India's growth story Prime Minister Narendra Modi on Thursday said that his government's next-generation goods and service tax (GST) reforms have drastically reduced the tax burden on the poor as well as the middle class. Addressing the inauguration event of the Uttar Pradesh International Trade ...Read More >
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a comprehensive Rs 69,725 crore package to revitalize India's shipbuilding and maritime ecosystem. The initiative introduces a four-pillar strategy aimed at strengthening domestic capacity, improving long-term financing, promoting greenfield and brownfield shipyard development, enhancing technical capabilities and skilling, and implementing legal, taxation, and policy reforms to create robust maritime infrastructu ...Read More >
LITTLETON, Colorado, Sept 23 (Reuters) - Global shipments of thermal coal - used for power generation - climbed to their highest levels since late 2024 in August on the back of strong import orders by China, Japan and South Korea. The jump in coal purchases came after nine straight months of year-over-year declines in monthly coal exports, which had raised expectations that 2025 may mark the first full-year contraction in global coal trade since 2020. A combination of reduced domestic coal pro ...Read More >
Kochi: Raids were conducted at the residences of leading Mollywood actor Prithviraj Sukumaran and actor-producer Dulquer Salmaan by the customs department in search of foreign luxury vehicles brought into the country without paying duties. This is part of a nationwide crackdown codenamed "Numkhor" (which means "vehicle" in the Bhutanese language), targeting a racket allegedly involved in tax evasion and illegal vehicle imports. Raids were carried out at Prithviraj's house in Thevara and Dulque ...Read More >
New Delhi, Sep 16 (PTI) Insurance companies will not be able to claim input tax credit on GST paid on inputs like commissions and brokerages for individual health and life insurance policies with effect from September 22, the CBIC said on Tuesday. The Central Board of Indirect Taxes and Customs (CBIC) has issued a set of FAQs clarifying on the taxation of various goods and services when the new GST slabs kick in from September 22. The GST Council in its meeting on September 3 had decided to ex ...Read More >
Mumbai: The Economic Offences Wing of Mumbai police has recorded the statement of Shilpa Shetty's husband Raj Kundra in a Rs. 60 crore alleged fraud case. Mumbai Police shared an update in the case and stated: "Investigations are going on against actress Shilpa Shetty and her husband Raj Kundra in an alleged fraud case of Rs. 60 crore. A summon was issued by the Economic Offences Wing of Mumbai Police to Raj Kundra. He was asked to appear before police for the investigation." They further stat ...Read More >
New Delhi: The government on Monday extended the due date for filing income tax returns (ITRs) for Assessment Year 2025-26 by a day to September 16 as technical glitches disrupted filings on the last day.A record over 7.3 crore ITRs were filed till September 15, surpassing last year's 7.28 crore, the Central Board of Direct Taxes (CBDT) said in a post on X."To facilitate further filings of ITRs, the due date has been extended by one day (16th September 2025)," the CBDT said. The e-filing portal ...Read More >
New Delhi, September 16: The Central Board of Direct Taxes has decided to further extend the due date for filing the Income Tax Returns (ITRs) for Assessment Year (AY) 2025-26 from September 15 (Monday) to September 16 (Tuesday), a notification read. Taking to X late on Monday night, Income Tax India, which is the official account of the Income Tax Department, wrote: "KIND ATTENTION TAXPAYERS! The due date for filing of Income Tax Returns (ITRs) for AY 2025-26, originally due on 31st July 2025, ...Read More >
GST 2.0 simplifies India's indirect tax regime with two core rates of 5% and 18%, plus a 40% de-merit slab. Insurance premiums become GST-exempt, renewables gain from lower costs, and consumer electronics see relief. The reform aims to boost compliance, influence spending patterns, and realign sectoral margins. India's indirect tax regime has undergone a structural shift. Announced on September 5, 2025, and scheduled to take effect from September 22, GST 2.0 rationalises the current four-tiered ...Read More >
New Delhi, Sep 15 (PTI) The government on Monday extended the due date for filing income tax returns (ITRs) for Assessment Year 2025-26 by a day to September 16 as technical glitches disrupted filings on the last day. A record over 7.3 crore ITRs were filed till September 15, surpassing last year's 7.28 crore, the Central Board of Direct Taxes (CBDT) said in a post on X. "To facilitate further filings of ITRs, the due date has been extended by one day (16th September 2025)," the CBDT said. Th ...Read More >
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