Tax News: Tax Latest News, Tax Today news, Tax Breaking News

IT dept launches pan-India drive against suspicious foreign remittances

The Income Tax Department has launched a nationwide verification exercise into suspicious foreign remittances by firms with little business activity,…

August 18, 2026 22:35 IST

Rs 1.5 lakh crore lost in fruits & veggies: Can a tax holiday fix India’s cold-storage gap?

With horticultural production already at around 355 million tonnes annually, improving the country’s ability to store and transport this produce…

August 14, 2026 17:40 IST

The larger lesson from cases like this one is fairly simple. Section 44AD makes life easier on the compliance side, not on the explanation side.

Surat fruit trader declares Rs 14.57 lakh income; tax dept finds Rs 2.43 crore deposits, raises assessment to Rs 5.09 crore — ITAT finds major error

The case rationale is that presumptive taxation simplifies the computation of business income, but it neither prevents the Department from…

August 14, 2026 13:26 IST

India’s Net Direct Tax Collections Jump 23.1% to ₹8.11 Lakh Crore Driven by Strong PIT and STT Growth

Direct tax collections jump 23%, exceed Budget pace

Supported by robust personal income tax growth, a 51.3% spike in STT, and a slowing pace of refunds, India’s net…

August 11, 2026 21:44 IST

Florida’s property tax fight: Why a plan to help homeowners could leave renters worried

Florida voters face a decision on Amendment 3, a property tax overhaul that increases homestead exemptions and limits local government…

August 11, 2026 21:22 IST

Corporate NPS AUM has grown at a faster pace of 25%, whereas the subscriber base has grown at around 20%, highlighting the increasing adoption of NPS among salaried and private-sector employees.

Paying more tax under the new regime? Here’s how corporate NPS can help salaried employees save

Simply joining Corporate NPS does not, by itself, reduce or affect an employee’s gratuity, EPF benefits, bonus or other statutory…

August 10, 2026 16:51 IST

Lok Sabha Grants Tax Relief on REIT and InvIT Dividends Under New Tax Regime

Tax relief on dividends to boost participation in REITs and InvITs

Experts believe the reform could help to broaden the investor bases of these products.

August 9, 2026 17:13 IST

India’s New Tax Reform Push: Accelerating Foreign Capital Inflows with Strategic Exemptions

A silent resolve in tax policy

The fresh amendments should encourage PE/VC firms to shed their reluctance and confidently relocate fund management operations to India

August 7, 2026 22:25 IST

Taxation and Other Laws (Amendment) Bill, 2026: From offshore funds to electronics, here’s what changes

Taxation and Other Laws (Amendment) Bill, 2026: The proposed Bill introduces fresh tax exemptions for foreign investors investing in Indian…

August 4, 2026 19:00 IST

Govt proposes easing tax rules for offshore funds with Indian fund managers: Report

To qualify for the tax exemption, domestic investors cannot account for more than 5% of a fund’s assets, and the…

August 3, 2026 22:09 IST

Why did Apple shares plunge over 6% after beating Q3 estimates?

Apple set to benefit as India proposes tax exemption extension till 2041: Report

India proposes extending tax exemptions until 2041 for foreign companies supplying machinery to contract manufacturers, benefiting Apple as it expands…

August 3, 2026 18:52 IST