Budget 2026: Income Tax Relief Unlikely, But Here's Options
Budget 2026 may not bring income tax relief, but experts suggest alternative tax measures to help Indians. Focus shifts to growth-oriented policies after last budget's tax cuts.
Category : GST & Taxation
Cigarette Sales to Fall with New GST Duty, Says CRISIL
CRISIL Ratings predicts a 3-5% drop in cigarette volumes in India as a new GST compensation cess takes effect, impacting major tobacco companies and government revenue.
Binny Bansal Ruling: No Easy NRI Tax Arbitrage in Dubai, Singapore
Recent rulings in Binny Bansal and Tiger Global cases show tax authorities demand real overseas substance for non-resident status, not just day counts or paper relocations, impacting NRI tax planning.
Hyderabad Traders Demand GST Relief in Upcoming Budget
Small business owners in Hyderabad urge Centre for GST reduction on essentials in Union Budget 2026-27, citing shrinking margins and slowing consumer demand due to high procurement costs.
DGGI Ahmedabad Arrests 3 in Rs 262 Crore Fake Billing Cases
DGGI Ahmedabad uncovers two major fake billing rackets involving Rs 262 crore, arresting three individuals. The fraud involved fictitious firms and complex hawala transactions across multiple states.
Ayodhya GST Officer Resigns Backing UP Government
In a significant development, Deputy GST Commissioner Prashant Kumar from Ayodhya has submitted his resignation, expressing solidarity with the Uttar Pradesh government's policies and administrative direction.
Budget 2026: Fixing India's Safe Harbour Rules for GCCs
India's Global Capability Centres face transfer pricing challenges. Budget 2026 must reform Safe Harbour Rules to enhance competitiveness and attract foreign investment.
Budget 2026 Income Tax Expectations: Taxpayers Await Relief
Finance Minister Nirmala Sitharaman will present Union Budget 2026 on February 1. Taxpayers hope for income tax cuts, higher standard deduction, and TDS rationalization, following last year's reforms that benefited the middle class.
India's Customs Duty-Free Allowance Needs Decade-Long Price Rise Update
India's duty-free baggage allowance, last updated in 2016, fails to account for significant price inflation over the past decade, creating challenges for international passengers navigating customs procedures.
Budget 2026: Focus on Fiscal Discipline, Tax Reforms
As the Union Budget 2026 approaches, expectations for major tax giveaways remain muted. The government is likely to balance growth, fiscal discipline, and reforms in a challenging economic environment, with limited room for tax relief but potential for si
New vs Old Tax Regime: Which Saves You More Money?
Analysis of how India's new income tax regime has evolved since 2020, offering significant savings compared to old system. Tax slabs, exemptions, and Budget 2025 implications explained.
Ahmedabad: 3 Arrested in Rs 262 Crore GST Fraud
DGGI arrests three individuals in Ahmedabad for massive fake billing operations involving fraudulent Input Tax Credit claims exceeding Rs 262 crore across multiple sectors including iron, steel, and construction.
India's Duty-Free Baggage Allowance Needs Revision
India's duty-free baggage allowance, last updated in 2016 at Rs 50,000, has lost purchasing power due to inflation and currency depreciation, creating difficulties for travelers. Experts call for increasing it to Rs 1,00,000 to match current economic real
Nagpur Supari Traders Raided: Rs 5 Crore Cash, Gold Seized
Income Tax Department's week-long search on Nagpur supari traders uncovers Rs 5 crore cash, 1kg gold, and evidence of large-scale off-book transactions and sales suppression.
ITR Filing Automation: India's Progress & Future Steps
Explore how India's tax system is evolving towards automated ITR filing with pre-filled forms, AIS/TIS statements, and digital verification, while addressing challenges for full automation.
Jaipur Traders Object to UD Tax Notices, JMC Responds
Jaipur traders challenge JMC's UD tax notices for shops under 100 sq yards, citing exemptions. JMC Commissioner assures verification and on-site resolution camps.
Ahmedabad I-T Raids Day 3: Real Estate Groups Probed
Income Tax department's search operation in Ahmedabad continues for third day, targeting real estate groups suspected of accepting cash payments. Over 100 officials involved.
Budget 2026 Priorities for New Tax Law Implementation
As India prepares to implement the Income Tax Act, 2025 from April 2026, Budget 2026 must focus on compliance, digital infrastructure, and dispute resolution rather than tax cuts.
UP STF Busts Rs 45 Crore GST Evasion Racket
Uttar Pradesh STF uncovers massive GST fraud involving over 100 shell companies, arrests kingpin in Delhi. Racket used job-seekers' documents to generate fake invoices worth Rs 248 crore.
Budget 2026: Simplify TDS to Ease Business Cash Flow
With TDS contributing 42% of India's tax revenue, Budget 2026 must simplify the complex withholding system to ease cash flow pressures and compliance burdens for businesses.
Union Budget 2026: Joint Taxation for Married Couples
The Institute of Chartered Accountants of India has proposed allowing married couples to combine incomes and file single tax returns in Union Budget 2026 to provide relief to single-income families.
Major Tax Reforms Completed to Boost Investment and Ease Compliance
The Centre has implemented key direct tax reforms announced in recent budgets, including changes for AIFs, startups, and individuals to enhance investment certainty and reduce compliance burdens.
US Carveout from Global Minimum Tax Deal Raises Questions
The US secured a carveout from the OECD's global minimum tax framework, allowing its largest companies to use domestic rules instead of the 15% rate. This move tests international consensus on curbing corporate tax avoidance and has implications for India
Budget 2026: Standard Deduction Hike Expectations
Taxpayers await Budget 2026 for potential standard deduction increase in new tax regime. Experts debate hike feasibility amid inflation concerns and fiscal constraints.
SC Denies Tax Relief to Tiger Global in Flipkart Case
The Supreme Court ruled against Tiger Global, stating treaty benefits aren't automatic. The court found the Mauritius investment structure lacked commercial substance and was designed for tax avoidance.
Union Budget 2026: What is Sin Tax?
Explore the concept of sin tax in India's Union Budget 2026. Learn how this substantial levy on tobacco, alcohol, and gambling aims to discourage consumption and influence public health policy.
Quarterly GST Payments to Help Small Businesses
A proposal suggests shifting GST payments to quarterly cycles for small businesses to align tax outflows with actual cash inflows, addressing working capital challenges.
UP Labourer Gets ₹7 Crore Tax Notice, IT Dept Unaware
A daily-wage labourer from Uttar Pradesh's Hardoi district received a shocking ₹7.15 crore income tax notice. The IT department says it has no record of issuing such a notice to the poor villager.
Gold, Silver Prices Soar to Record Highs on Safe-Haven Demand
Gold and silver prices surged to unprecedented levels on Monday, driven by safe-haven demand amid geopolitical tensions and trade uncertainties.
Delhi Police Probes Rs 374 Crore GST Fraud Cases
Delhi Police's Economic Offences Wing investigates seven GST fraud cases totaling Rs 374 crore, where scammers used stolen identities to create dummy companies for financial transactions.
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