INDIAN TAX AUTHORITIES
Atal Pension Yojana surpasses 9 crore subscriber milestone
The Atal Pension Yojana has reached a milestone of 9 crore subscribers. Financial year 2025-26 saw the highest ever enrolments with over 1.35 crore new members. This government scheme provides a guaranteed monthly pension of up to Rs 5,000 after age 60. It also offers benefits to the spouse and returns the corpus to the nominee.
Income Tax dept seeks details from NRIs, offshore firms on unlisted share deals, flags valuation and fund source concerns
India’s tax department has asked NRIs and offshore entities to justify investments in unlisted shares, seeking details on fund sources and valuations. Using demat data, authorities are probing deals from 2019–23 for potential tax evasion, round-tripping and money laundering, with non-compliance likely to trigger scrutiny, tax demands and litigation.
It's not just war that brought rupee down, it needs better support
The West Asia conflict has accelerated INR depreciation, necessitating a rethink of India's economic fundamentals. Short-term measures include raising domestic interest rates and equalizing onshore tax regulations for asset classes. Longer-term, building world-class universities, encouraging local tourism, and potentially redesigning the INR symbol are proposed to foster resilience and economic growth.
Rs 40,000 salary, 16-hour work days, loneliness: Ankur Warikoo shares harsh ‘survival’ reality of living abroad.
Many Indians move abroad for better careers and salaries. However, entrepreneur Ankur Warikoo highlights the hidden struggles. High living costs and debt leave little savings. Some work long hours in survival jobs. Homesickness and isolation add to the emotional toll. Going abroad offers exposure but not always success. Realistic expectations are crucial, and knowing when to return home is important.
How secured loans can open new doors to credit-based growth for MSMEs
Secured loans offer MSMEs a pathway into the formal credit system, eliminating the need for years of audited financials or a long operational history.
Foreign betting sites pull a prank on taxman
Offshore gaming firms found a way to use the site name cgst.ahmedabadzone.gov.in to create additional, fake pages, complete with sub-links that take the browser to the actual gaming platforms, in claiming legitimacy of these online casinos.
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Is tax clearance mandatory before foreign travel? What the Income-Tax Act, 2025 says
The introduction of Form 157 and Form 159 under the Income-Tax Rules, 2026 has sparked confusion over whether tax clearance is now mandatory for all Indians travelling abroad. However, a closer reading of Section 420 of the Income-Tax Act, 2025—read with Section 536 and CBDT Instruction No. 1/2004—makes it clear that no such blanket requirement exists.
GIFT City vs Dubai vs Singapore: What you need to know while choosing your investment hub
Indian wealth is increasingly seeking global anchors, with GIFT City, Dubai's DIFC, and Singapore emerging as key contenders. Each hub offers distinct advantages in access, tax efficiency, and regulatory comfort, catering to different investor profiles from first-generation entrepreneurs to established family offices.
Where’s the Indian mutual fund sector going ahead? 6 big trends to watch out for
Mutual fund trends highlight a structural shift in investor preference towards mid and small caps, sectoral themes, and multi-asset funds, while large caps lose share. SIP inflows hit record highs, reinforcing steady participation. Despite regulatory hurdles, overseas funds recover, reflecting evolving allocation strategies and risk appetite.
War-led cost surge, price curbs push beer industry into 'major trouble': United Breweries CEO & MD
The Indian beer industry is in significant trouble. Rising costs from the war, supply chain issues, and government pricing controls are impacting businesses. United Breweries CEO Vivek Gupta highlights the need for government support to prevent growth and innovation from stalling. Consumers are also shifting to cheaper options and smaller pack sizes due to financial pressures.
GST 2.0 Inverted duty structure hurts FMCG, Pharma: Expert flags concerns
Indian enterprises are navigating challenges posed by the Goods and Services Tax. The inverted duty scenario is particularly affecting FMCG and OTC pharmaceutical companies, and the phase-out of the GST compensation cess has resulted in a backlog of unusable credits. Additionally, the regulations surrounding free trade agreements are creating barriers.
Strait of Hormuz crisis spotlights ship 'flagging' rules as India-flagged vessels face higher compliance burden
Ship safety in the Strait of Hormuz draws attention to vessel flagging. India is boosting its flagged fleet. The Maritime Amrit Kaal Vision 2047 targets a significant increase in the global share of Indian-flagged ships. This initiative aims to enhance the utilization of these vessels by 2047. Indian flagged ships receive advantages in domestic waters.
Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled it
An Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal, Chennai, has now cancelled this penalty. The tribunal ruled that the omission was accidental and bona fide, especially as it was the first year of the reporting requirement.
No campus housing? Key renting rules for Indian students in the US
Indian students pursuing education in the US on F1, M1, or J1 visas often face challenges securing off-campus housing. Landlords typically require a US credit history or a guarantor due to financial risk. Students must understand lease terms, including notice periods for moving out and rules against unauthorized occupancy.
Property partition after owner’s death: A guide for legal heirs to divide assets
Partition of a property means the legal division of jointly owned property among co-owners or legal heirs, severing joint occupancy into individual shares. Now you can either do partition of the family property amicably via a registered partition deed or through a civil court by filing a partition case if property disputes arise, resulting in each heir getting a defined portion.
Steel makers set for profit surge in March quarter
Steelmakers are poised for a significant profit surge in the March quarter, driven by a new protectionist measure and seasonal demand. Higher prices and volumes are expected to outweigh increased coking coal costs, with SAIL projected to see the sharpest profit growth. India's improved trade balance and resilient domestic demand further bolster the sector's outlook.
Saurabh Mukherjea has moved half his personal portfolio out of India; here's why
Saurabh Mukherjea, founder of Marcellus Investment Managers, has shifted his personal portfolio to a 50-50 split between Indian and global investments, reflecting a strategic pivot. The firm is reducing domestic consumption exposure and increasing bets on export-oriented businesses, while also building a position in companies set to benefit from rising NPAs in the Indian banking system.
SEBI seeks CBDT clarity on tax role of authorised representatives of FPIs
India's market regulator Sebi seeks clarity from the tax department on the duties of authorised representatives for foreign investors. Fund houses need clear guidelines as these representatives may face tax demands. Many professionals are hesitant to take on these roles without understanding their liabilities. Sebi is actively engaging with the Central Board of Direct Taxes to resolve this issue soon.
Income tax staff warn of nationwide agitation in April-May: 'Pushed to the brink’ over work pressure, delayed promotions
Two major Income Tax Department employee associations, representing nearly 97% of the workforce, have warned of a seven-stage nationwide agitation starting April 16 if their long-pending demands are not addressed. In a letter to the Revenue Secretary, the Joint Council Action (ITEF and ITGOA) accused the Central Board of Direct Taxes of “persistent apathy” over issues such as stalled cadre restructuring, poor promotion prospects, excessive workload, unrealistic targets, and inadequate staffing and infrastructure.
Buckeye Trust ruling: How a single clause drafted without sufficient precision in trust deeds can trigger tax risk and derail estate planning
Whether in trust deeds, corporate agreements or commercial contracts, even a single clause drafted without sufficient precision can significantly alter the legal consequences of an arrangement. in matters of taxation, precision in drafting is not merely good practice but an essential safeguard.
Amid West Asia war, FY26 goods exports may fall 2-3%: FIEO
India's goods exports may see a 7-8% drop in March due to the West Asia conflict. Full fiscal year 2026 exports could be 2-3% lower. However, overall goods and services exports are projected to rise 5-6% for FY26. Rising raw material prices and shipping costs are impacting shipments. Exporters seek government intervention on interest rates and policy simplification.
India has ample buffers to weather headwinds from Middle East conflict: World Bank
The World Bank stated India is well-positioned to handle the global energy shock due to strong buffers like high foreign exchange reserves and fiscal space. Despite global headwinds and trade turbulence, India's economy entered the current Middle East crisis from a position of strength, supported by robust domestic demand and export resilience.
ET Prime Special Series: Multibagger or Bankrupt - Part 53: All vehicles need this auto ancillary’s product, but its EV future is still taking shape
This auto ancillary is not trying to be many things at once. It has stayed in one technical lane for years and built its business around a function every vehicle needs. That gives the story some stability. But it does not remove the risks. A large share of revenue comes from a few customers, the group is carrying unresolved contingent matters, and the gap between standalone and consolidated earnings shows the cost of building backward integration. In a sector moving toward EVs, this business still looks rooted in old strengths, while its next phase is only beginning to take shape.
Water, waste & will: How India’s MSMEs can lead the sustainability revolution
Water efficiency, if managed wisely, could very well be the next competitive advantage for Indian MSMEs.
Government uses special provision to reduce airport landing and parking charges by 25%
To support the beleaguered airline industry, airports are rolling out a temporary 25% discount on landing and parking fees for domestic flights over the next three months. This initiative, prompted by the escalating global fuel prices, is designed to relieve financial strain on airlines, which have expressed concerns about needing to cancel routes if costs remain high.
Iran war impact on flight fares: Your air travel is getting costlier, here is how
Iran war update: United Airlines, American Airlines, Delta Airlines, Frontier Airlines are taking various measures as jet fuel surges due to ongoing conflict in the western Asia.
Petrol, diesel price today (April 5): Check fuel cost in your city as West Asia conflict enters day 37
Petrol and diesel prices in India remained steady on April 5, 2026, despite significant volatility in global crude oil markets. Geopolitical tensions in West Asia, particularly involving Iran, Israel, and the United States, have driven international oil prices up. Oil marketing companies are absorbing some of this volatility to ensure near-term stability for consumers and manage domestic inflation.
View: Rupee at 100 will be a harsh check on India’s ambitions
Rupee fall: In a serious twist, India's currency is on a steep decline, echoing previous economic upheavals. A mix of global influences and local policies has resulted in a weakened rupee, affecting everyday expenses for citizens, the financial burden of education, and the overall fiscal health of the government.
GAAR shadow over payments abroad worries India Inc
India Inc seeks clarity on General Anti-Avoidance Rules (GAAR) for payments to foreign entities after a Supreme Court ruling. The govt offered partial relief on GAAR for old stock investments, but companies want assurance against tax officials invoking GAAR on dividends, interest, and royalties.
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