The ITAT Indore has allowed Section 87A tax rebates on both long-term and short-term capital gains from equity for AY 2024-25. This ruling clarifies that the rebate applies even to income taxed at special rates, overturning a previous tax demand…
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The US and India have agreed on a framework for an interim reciprocal trade deal, aiming for balanced market access and tariff reductions. This arrangement seeks to benefit both nations by expanding trade, aligning economic and national security priorities, and…
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While income tax returns under the new Act will be filed by taxpayers in July 2027, under the new rules the forms, including advance tax and tax deduction at source, will come into force by April 1, 2026. The new…
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There’s good news for India as it might see a reduction in penalties for importing Russian crude oil, with refunds applicable for duties collected before a recent US executive order rescinded those fees.
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Chinese automaker BYD has filed a lawsuit against the U.S. government, challenging President Trump’s authority to impose tariffs and seeking a refund for levies paid since last April. The company argues the International Emergency Economic Powers Act does not authorize…
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As the United States rolls out its Gaza Peace Board initiative, India finds itself at a crossroads. While the nation has not yet pledged its involvement, early signs suggest it may skip the inaugural meeting. Ongoing discussions reveal India’s attempt…
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