Concerns over uneven playing fields in renewable energy auctions are prompting the finance ministry to consult with power and renewable energy ministries regarding customs warehousing benefits for imported battery storage systems. Industry bodies claim the MOOWR scheme’s duty deferral advantages…
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Prime Minister Narendra Modi has apologized to women across India. The Lok Sabha rejected a proposal for 33% reservation for women in Parliament. The Prime Minister blamed opposition parties for blocking the bill. This setback impacts women’s empowerment efforts. The…
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Indian banks are likely to keep asset quality under control over the next two years, with gross non-performing assets (NPAs) projected at 2.0-2.2 per cent by March 2027, only a shade higher than the estimated historic low of 2.0 per…
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The Delhi High Court ruled that company share buybacks below fair market value do not constitute taxable income, distinguishing them from asset acquisition. The court affirmed that such repurchases are capital restructuring, not profit generation, and upheld the Income Tax…
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The Income Tax Department is moving the Supreme Court in Geppact tax case. This follows a Delhi High Court ruling that blocked reopening Genpact Consulting Singapore’s tax assessment for 2014-15. The department claims the share sale was a tax avoidance…
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According to the ministry, the amendments seek to simplify procedures, reduce the number of forms and duplicate filings, enable wider use of electronic communication, align with other regulatory frameworks (such as GST and IBC), and clarify grey areas like liability…
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