The rift stems from the Income-tax department’s demand that deeds of these religious and charitable trusts must categorically state that the trusts are ‘irrevocable’.
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Major accounting firms in India are embracing artificial intelligence for tax services. AI is automating routine tasks, research, and drafting, allowing consultants to focus on complex interpretations and client strategy. This shift is significantly increasing efficiency and changing traditional consulting…
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The Confederation of All India Traders (CAIT) on Sunday called for further simplification of the Goods and Services Tax (GST) regime, arguing that while tax collections have risen sharply since its introduction in 2017, compliance challenges at the ground level…
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The Indian government is scrutinizing over 500 imported products, including machinery, fertilizers, and electronics, to identify opportunities for domestic manufacturing and reduce reliance on foreign supply chains. This initiative aims to curb the country’s import bill and bolster supply resilience,…
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Additionally, the prices of 5 kg FTL (Free Trade LPG) cylinders have also been increased by Rs 11 in the national capital, raising the cost to Rs 821.50. The new prices will come into effect from Monday, sources stated.
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Economist Surjit Bhalla believes India’s economy is poised for a stronger rupee. He emphasizes that policy reforms are crucial to attract investment and accelerate growth. Bhalla calls for an end to retrospective taxation and reduced taxes for foreign investors. He…
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