Tax

Advance Tax Deadline: Pay 75% of Tax Liability by December 15 or Face Penal Interest

Pay advance tax by December 15 to avoid interest payout

Taxpayers with income that cannot be estimated in advance, like capital gains, are exempt from this interest if the entire…

December 12, 2025 23:19 IST

IndiGo gets Rs 58.75 crore GST penalty. (Image: Reuters)

Indigo gets GST penalty notice of Rs 58.75 crore from CGST Delhi South

IndiGo has received a GST penalty notice of Rs 58.75 crore for FY21 and plans to contest the order.

December 12, 2025 12:00 IST

FM calls for improved tax data sharing among countries

The minister also noted that over the past decade, India has witnessed visible strengthening of voluntary compliance.

December 2, 2025 21:31 IST

ITR Filing, ITR refunds, ITR filing with foreign income, ITR revised, taxpayers with foreign income

Why is CBDT sending SMSs and emails to wealthy taxpayers?

The Income Tax department is reminding taxpayers who have not disclosed their foreign income and overseas assets to revise their…

Updated: December 4, 2025 16:45 IST

TDS Rules: Tax deduction mandatory once a year on rent above Rs 50,000

Paying over Rs 50,000 rent? New TDS rule and rent agreement rules 2025 you must know

If your monthly rent exceeds Rs 50,000, a 2% TDS deduction is now mandatory under Section 194-IB. Along with this,…

December 1, 2025 12:34 IST

Explainer: What’s driving away the super-rich from the UK

The UK’s flexible tax regime for high-net-worth individuals has long attracted the wealthy from around the world to make the…

November 25, 2025 19:44 IST

Moody's Ratings said tax cuts in the current fiscal has dented India's revenue growth

Moody’s flags weak revenue growth for India as tax cuts reduce fiscal space

Moody’s said India’s tax cuts have slowed revenue growth, limiting fiscal flexibility even as domestic consumption and easing inflation continue…

November 25, 2025 17:51 IST

India’s revenue shock: Morgan Stanley flags fiscal risks in FY26

Morgan Stanley flags revenue slowdown risks, warns govt may tighten spending in H2FY26 to meet fiscal targets

India’s FY26 revenue growth has sharply lagged budget expectations, with weak tax collections, GST rationalisation pressures and a widening fiscal…

November 25, 2025 13:59 IST

16th Finance Commission submits report on fiscal transfers for 2026–31

Tamil Nadu, Karnataka and Gujarat additionally argued for a 15% weight for states’ contributions to national GDP. The Commission is…

November 18, 2025 00:13 IST

Wide gap between tax receipts and budget target causes concern

This looks tough considering the GTR growth rate in the H2 of FY25. The ask rate to meet FY25 budget…

November 17, 2025 17:55 IST

How Indian Residents Can Claim Foreign Tax Credit (FTC)

Tax Talk: Already paid taxes abroad? Now don’t pay here too

Indian residents earning income abroad, such as consultancy or technical fees, can claim Foreign Tax Credit (FTC) to avoid double…

November 14, 2025 22:19 IST

Centre's net direct tax collections up 7% so far in FY26 on lower refunds: CBDT

Direct tax collections rise 7% on year

On the indirect tax front, Central GST collections rose 5.8% to Rs 4.7 lakh crore in H1FY26, against an 11.2%…

November 11, 2025 19:53 IST

Net direct tax collection rises 7% till Nov 10

India’s net direct tax collection up 7% to Rs 12.92 lakh crore between April-November

India’s net direct tax collections grew 7% so far in FY26. Corporate tax mop-up rose to Rs 5.37 lakh crore,…

November 11, 2025 17:41 IST

ICAI proposes optional joint taxation for married couples

In a note, the ICAI has outlined its recommendations into areas like reducing compliance burden, improving tax collections, mitigating litigation…

November 4, 2025 21:35 IST

Voluntary Post-Clearance Revision for Importers and Exporters

New facility for voluntary correction

The CBIC has introduced the Customs (Voluntary Revision of Entries Post Clearance) Regulations, 2025, effective November 1. This significant trade…

November 1, 2025 00:02 IST

Rs 6.05 lakh crore festive sales post-GST reforms: FM Sitharaman

FM says ‘Rs 6.05 lakh crore festive sales; simplified GST registration from Nov 1’: Report

Finance Minister Nirmala Sitharaman announced Rs 6.05 lakh crore festive sales and said the simplified GST registration process will begin…

Updated: October 24, 2025 15:54 IST

The IRS has adjusted 2026 tax brackets to account for inflation

IRS releases 2026 tax brackets – Top changes you need to know

The IRS has announced new 2026 tax brackets, with inflation adjustments that could slightly lower tax bills for high earners.

October 20, 2025 12:24 IST

IRS faces tax deadline pressure as shutdown leaves half its staff furloughed

US tax filing deadline—Will the government extend date amid shutdown?

Amid US government shutdown the IRS faces growing strain with nearly half its staff furloughed and taxpayers anxious about whether…

Updated: October 13, 2025 07:08 IST

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Trade pact with Oman to benefit key labour-intensive sectors: Piyush Goyal

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9% of Oman’s non-oil sector

India and Oman are expected to sign a free trade agreement, allowing for increased trade and investments in various industries such as textiles, automobiles, and renewable energy. The CEPA will be signed by the Commerce and Industry Minister and Oman’s Minister of Commerce, Industry, and Investment Promotion, with Prime Minister Modi in attendance.

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