The Income Tax Department has uncovered discrepancies in assets declared by TMC MLA Debashis Kumar. Seizures from his home during recent raids revealed jewellery and bullion not matching his election affidavit. The department has reported these findings to the Election…
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The rise of artificial intelligence is reshaping our governance and taxation landscape. With AI systems becoming increasingly self-sufficient, there’s a pressing need to reevaluate existing legal frameworks. While the current productivity spike from AI is advantageous for many workers, the…
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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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