The industry body wants interest and penalties waived and disputed duties cut according to the age and stage of cases, alongside wider tax changes to ease business costs. The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is urging…
Taxpayers can check their linking status on the Income Tax Department’s e-filing portal without signing in. Here’s how to submit a request, address common problems and understand the possible consequences of an inoperative PAN. Taxpayers in India can check whether…
The revised rules simplify export declarations and narrow import reporting requirements for eligible transactions, with effect from 1 October 2026. The Reserve Bank of India has moved to lighten compliance for smaller service exporters and importers, easing paperwork around foreign…
From 1 April 2026, only individual investors who subscribed at issue and held their bonds continuously to maturity can claim the capital-gains exemption. Secondary-market purchases and early redemptions are excluded. From 1 April 2026, the tax treatment of Sovereign Gold…
The Visakhapatnam GST appellate tribunal says a restriction on suppliers’ refunds for direct SEZ supplies does not bar units from claiming eligible credit linked to their own exports. A GST appellate tribunal in Visakhapatnam has held that an SEZ unit…
The court reaffirmed that a surcharge calculated as a percentage of sales tax remains part of the tax on sales, following the precedent in S Kodar v. State of Kerala. India’s Supreme Court has reaffirmed that state legislatures can impose…
Buyers may have to withhold tax on the full sale price, even when the seller’s taxable gain is far smaller. A lower or nil deduction certificate can limit the overpayment, but sellers must apply before the transaction is completed. For…
Since April 2025, rent TDS has hinged on whether payments exceed Rs 50,000 in a month or part of a month, not the former annual threshold. Businesses and tenants must also check rates, lease end dates and which tax law…
Cash and certain other gifts from friends or colleagues are taxable in full once their combined value exceeds ₹50,000 in a tax year. Large cash receipts may also breach separate rules, even when a gift from a relative is exempt…
The Jaipur tribunal accepted a ₹16 lakh gift from a mother after the recipient produced a deed, witness statements and a jewellery valuation, showing that an exempt gift can still face scrutiny if its source is unclear. Cash gifts from…
At an 8.2% annual rate, the five-year scheme could generate ₹12.3 lakh in interest on the maximum deposit, but the returns are taxable and rates can change. For retirees looking for a steady, government-backed income stream, the Senior Citizens Savings…
The extension gives textile manufacturers two more months of duty-free access to imported cotton, easing input costs and supporting production planning. India has extended its customs duty exemption on cotton imports until 31 December 2026, giving the country’s textile makers…
