TAX LAWS IN INDIA
Robert Vadra ready to appear before ED, no intention to avoid summons: Lawyer
Robert Vadra's lawyer asserts he's ready to cooperate with the Enforcement Directorate (ED) in a money laundering case, dismissing claims of avoiding summons. Vadra missed a recent appearance due to flu-like symptoms and a COVID-19 test, but offered to appear virtually or before/after his daughter's graduation trip. His lawyer emphasizes Vadra's past cooperation and willingness to comply with the investigation.
India not a football to be kicked around, but an ally to be embraced, says Ex-Pentagon official
Michael Rubin says Mark Carney is better for India-Canada ties than Justin Trudeau. Rubin believes Canada needs to act maturely with India. He criticizes Trudeau's approach as political and not principled. Rubin accuses Trudeau of exaggerating claims about Hardeep Singh Nijjar and Khalistan. He urges Canada to address Khalistani extremism firmly.
Eye on IPO shores, companies set sail for Cayman
The Cayman Islands are emerging as a preferred destination for Indian software startups chasing global markets, offering greater flexibility in raising capital, whether from India or abroad. The self-governing British Overseas Territory is a “region of interest” for software-as-a-service (SaaS) companies scaling up their international ambitions.
Pine Labs set to file for up to Rs 6,000-crore IPO by month-end
Pine Labs is preparing to file its DRHP with SEBI by the end of June, aiming for an IPO later this year to raise Rs 5,000-6,000 crore. The IPO could value the company at $4-5 billion. The company has appointed Axis Capital, JP Morgan, Morgan Stanley, Citi and Jefferies as bankers to the issue.
Challenging times for global trade; India will certainly cross USD 825 bn exports this fiscal: Piyush Goyal
Despite global economic uncertainties, India's exports reached a record USD 825 billion in 2024-25, and are projected to surpass this figure in 2025-26, potentially reaching USD 1 trillion. The growth is attributed to diversified sourcing and new free trade agreements with countries like the UAE and Australia.
Divorced but not re-married wife to get husband’s property and Rs 50,000 per month permanent alimony with 5% increase every 2 years, rules Supreme Court
In a landmark decision, the Supreme Court of India has ordered a husband to provide his divorced wife with Rs 50,000 per month as permanent alimony, with a 5% increment every two years. The Supreme Court also upheld the High Court order to transfer the property's title deed of the house to the wife. Read below to know the details of the divorce alimony case.
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Mukesh Ambani's consumer empire overtakes decades-old energy business of RIL
Reliance Industries, under Mukesh Ambani, witnesses a significant shift with consumer ventures like Reliance Retail and Jio now contributing over half of its operating cash profit. Analysts predict substantial EBITDA growth driven by these sectors, leading to positive free cash flow despite ongoing investments.
Don't mix business with tourist visas, affirms tax tribunal ruling
Indian businessmen traveling abroad on tourist visas may face scrutiny from tax authorities. The Income Tax department taxed Hot Breads founder M. Mahadevan's global income, deeming him a resident despite his NRI claim. The tax office rejected his argument about business-related travels due to his tourist visas. The tribunal upheld the decision, emphasizing the importance of appropriate visa categories.
How not to keep secrets: India’s real estate, trusts and partnerships tell the story
Tax Justice Network's Financial Secrecy Index ranks India 24th globally, highlighting both progress and persistent opacity. While India shows transparency in corporate ownership, weaknesses remain in areas like beneficial ownership and international cooperation. The index underscores the need for global fairness and transparency, urging countries to prioritize it for economic stability and trust.
11 years of India's defence sector: From indigenous production to global exports and redefined national security
India's defence sector sees big changes in the last eleven years. Defence budget rises, leading to record production and export growth. Private industry plays a key role with focus on local manufacturing. Government signs many contracts with Indian companies. Defence corridors attract investments. India's defence exports increase significantly. The country takes strong action on counter-terrorism and internal security.
Insurance sector: Has it reached an inflection point as ‘insurance for all’ gets on priority list? 8 stocks with upside potential of up to 40%
There are reports that suggest the government is considering major changes in how the insurance products are distributed. Right from insurance agents to PSU banks, there is a plan to revamp with a focus on “insurance for all”. Will this change the picture of the insurance industry? Or, after a blip, will the stocks again underperform in bullish markets? Now, before “insurance for all” starts hogging the headlines, here are a few things you should know as an investor.
How to save tax on your Bitcoin investments in India, legally!
Indian Bitcoin investors face a steep 30% tax and 1% TDS, hindering profitability. Bitcoin ETFs offer a tax-efficient alternative, taxed as long-term capital gains at 12.5% if held over 24 months, with no TDS. Unlike direct crypto investments, ETF losses can be offset, providing significant tax savings.
RBI’s bold rate cut sets stage for market rally: Sandip Sabharwal
Sandip Sabharwal highlights the positive impact of RBI's actions, including rate cuts and easing stress on unsecured loans, particularly benefiting MFIs and NBFCs. He favors larger banks and diversified NBFCs, cautioning against real estate investments at current valuations. The rare earth magnets issue from China poses a potential threat to the auto industry, especially EV manufacturers, pending resolution.
Singapore casts tax shadow on India bets, shuns shell companies
Singapore is increasing its scrutiny of companies' economic substance, potentially leading to tax disputes for MNCs and funds investing in India. Recent rulings by the IRAS define 'economic substance,' impacting treaty benefits. Indian tax authorities may levy higher taxes if Singaporean entities lack adequate substance, affecting stock sales, dividends, and loan interest.
Commercial real estate: How false promises, legal gaps and poor location choices can make it dud investment
Two buyers share how false promises, legal gaps, and poor location choices turned investment hopes into heavy losses.
ID please? MeitY verifies identity verification startups
The Ministry of Electronics and Information Technology (MeitY) is investigating firms, including Surepass, Digitap, Zoop, and Signzy, over concerns they may have bypassed authorised protocols to access confidential databases. In response, MeitY has blocked access to some of these companies' websites via telecom networks.
Banks' proposal for tax relief on NPA interest under review
The government is considering banks' request to amend income tax law, aligning NPA definitions with RBI norms to exempt interest earned on NPAs. Banks also seek increased deduction for NPA provisions, potentially boosting their bottom lines. This move addresses discrepancies causing unjust tax liabilities on unrealized income, as current regulations tax notional interest on NPAs despite RBI non-recognition.
Speed of doing business for ease of doing business: Streamlining India’s corporate restructuring
Corporate restructuring in India is still hampered by NCLT delays, despite reforms aimed at simplifying the process. With over 15,000 cases pending and no statutory deadlines for merger approvals, even uncontroversial schemes face long waits. A dedicated Corporate Restructuring Authority under the MCA could streamline processes and ease India’s regulatory burden, unlocking faster deal execution and greater investor confidence.
You may be contributing to State Labour Welfare Fund from your salary: What is it, and how it helps employees
The Labour Welfare Fund is used to finance activities that promote the welfare of labour in the state. It also helps to utilize unpaid accumulations (such as wages, bonuses, gratuities, etc.) lying with the employer in the best interests of labour.
How Indian export businesses are using AI to stay ahead on global tax rules
Indian organisations are increasingly adopting AI and ML for tax compliance, aligning with the Digital India initiative. This shift aims to streamline operations and navigate complex international trade regulations, including US sales tax and EU VAT.
3.5% Excise Tax on transfers: What Trump’s bill means for global Indians, Poonam Mirchandani decodes
A new US bill introduces a 3.5% excise tax on overseas remittances from non-citizens, including NRIs and immigrants, effective January 2026. The bill also raises estate tax exemption to $15 million. Global Indians must now reassess cross-border financial planning amid changing compliance requirements.
Fraud beneficiaries of Ladki Bahin Yojana beware: Maharashtra govt to cross-check income tax data; check who is eligible to get Rs 1,500 per month
The Maharashtra government can now access Income Tax Return data to identify fraudulent beneficiaries of the Ladki Bahin Yojana. This move, enabled by a central government notification, aims to tighten screening and ensure only eligible women from economically weaker backgrounds receive the financial assistance of Rs. 1500 or more per month.
'India Inc well positioned to handle tariff, geopolitical challenges; capex to be measured'
Moody's and Icra Ratings suggest Indian enterprises are well-prepared to navigate tariffs and geopolitical tensions, though investment decisions will be cautious. Government initiatives are expected to bolster domestic demand, offsetting global headwinds. While some sectors face challenges, infrastructure and urban consumption are poised for growth, requiring substantial investments to meet net-zero targets.
Madras HC upholds Tamil Nadu’s restrictions on real money games
The Madras High Court upheld Tamil Nadu's restrictions on real money gaming, including time and Aadhaar-based limits, dismissing industry challenges. Amid rising scrutiny, tax evasion in the sector reached Rs 1.1 lakh crore. With 568 million users, India’s gaming industry continues to grow, guided by evolving regulations and ethical frameworks.
PM Modi bats for open skies, global air connectivity at IATA AGM
Prime Minister Narendra Modi affirmed India's commitment to open skies at IATA's AGM. He advocated for accessible and affordable air travel. Emirates raised concerns about India's restrictions on foreign airlines. India aims to become a global MRO hub by 2030. The country is also encouraging aviation companies to focus on 'Design in India'. New aircraft act aligns with global practices.
Dr Reddy’s Labs shares slip over 1% after I-T dept issues order over Rs 2,396 crore tax demand
The Income Tax Department has raised a demand of over Rs 2,395 crore linked to Dr Reddy’s Labs' past merger. The company asserts full compliance with tax laws and says there’s no material financial impact.
Singapore remains biggest FDI source for India for 7th straight year
Singapore remains India's top FDI source for the seventh year, contributing nearly $15 billion in fiscal year 2024-25, a significant portion of India's record $81.04 billion total. Experts attribute this to Singapore's financial hub status, favourable tax treaties, and role as a conduit for global investments into India's growing sectors like finance and technology.
Wall Street fears foreign tax in budget bill may reduce allure of US assets
Analysts warn a new US tax targets foreign investors. The tax, included in a budget bill, may affect demand for US Treasury bonds and the dollar. Deutsche Bank suggests it could escalate trade tensions. Morgan Stanley predicts a weaker dollar due to reduced foreign investment. European investors may be particularly affected. The tax aims to raise revenue but faces scrutiny.
Samsung India executives seek to quash $81 million penalty over tax evasion
Seven Samsung India executives are contesting penalties linked to a $601 million tax demand. They argue against the severity of the alleged offense. The tax authority claims misclassification of mobile tower equipment imports occurred. Ravi Chadha, a logistics executive, calls the penalty process rushed. Other executives, including Sung Beam Hong and Sheetal Jain, have also challenged the order.
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