Daily Latest News
New Delhi: In a major relief for taxpayers, the Income Tax Appellate Tribunal (ITAT), Mumbai has ruled in favour of a Pune-based individual after the tax department had added over Rs 7 crore to his income as unexplained cash credit. The tribunal held that loose sheets of paper, personal diaries and WhatsApp chats cannot be…
As the Union government readies Union Budget 2026, the big question on everyone’s mind is a familiar one: will the middle class finally get some breathing room on taxes, or will the government stick to its longer-term game plan? Early signals suggest expectations of sweeping tax relief may once again run into the reality of…
Mumbai29 minutes ago copy link Before the Union Budget 2026 to be presented next month, stock market investors and experts have put forward a list of their demands before the government. Market experts say that to encourage retail investors, the tax exemption limit on Long Term Capital Gains (LTCG) should be increased. At present, there…
New Delhi: The Indian automobile industry is heading into the second half of FY26 with cautious optimism, as festive stocking, reduction in GST rates, and income tax relief are expected to boost consumer demand, a report said on Friday. Meanwhile, September sales data reflected a mixed trend — with strong growth in two-wheelers, three-wheelers, commercial…
Last Updated:August 15, 2025, 12:29 is Prime Minister Modi announced “next-generation GST reforms” by Diwali to ease the tax burden on households and small businesses. The GST Council will rationalise tax slabs. Prime Minister Narendra Modi during his 12th Independence Speech from the ramparts of the Red Fort. Next GST Council Meeting: On the ramparts…
India’s smartphone market grew 8 per cent (year-on-year) in volume and 18 per cent in value in the April-June quarter (Q2 2025), marking a solid rebound following a muted Q1, a report said on Wednesday. The iPhone 16 emerged as the most-shipped device in Q2 2025, driven by ongoing promotions, extended EMI options, and improved…
Last Updated:July 20, 2025, 16:27 is The ITAT Mumbai ruled Kavita Manoj Damani can claim capital gain tax exemption under Section 54 of the Income Tax Act, 1961, after purchasing a new flat from her husband. Section 54 of the Income Tax Act offers exemption from long-term capital gains tax if the profit from selling…
Last Updated:January 31, 2025, 21:50 is Finance Minister Nirmala Sitharaman will present the Union Budget 2025-26. Key demands include tax relaxation, real estate incentives, healthcare cost cuts, startup support, and insurance reforms. Know key expectations from the Budget 2025 across segments. As Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025-26 on…