To digitise Customs processes, the Union finance ministry is planning to integrate the Indian Customs Electronic Gateway (ICEGATE), Risk Management System (RMS), and Indian Customs Electronic Data Interchange System (ICES) into a single unified national Customs platform, according to government sources.
Ahead of the Union Budget 2026-27, Indian business houses have urged the government to make demergers tax-neutral, particularly in cases involving transfer of investments in associate companies with 25 per cent or more shareholding, under the new Income Tax Act. This may possibly help some companies planning to go public, according to a source.
The Securities and Exchange Board of India (Sebi) has approved a proposal from a startup to test fractional shares in its innovation sandbox, marking a potential shift in the Indian equity landscape. This represents a change in stance from 2021, when Sebi rejected a similar proposal in the regulatory sandbox, primarily due to concerns over the custody of fractional shares.
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
Whenever possible, the karta or head of the family should openly discuss the future distribution of movable and immovable property with all legal heirs.
Each employee is generating more business than before -- driven by cost rationalisation, digital adoption, and better resource utilisation -- signalling a stronger foundation for sustainable growth and profitability.
In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
Registering the agreement for sale remains the most reliable way for a homebuyer to secure their legal and financial interests.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
Better protection for depositors and investors was one of the chief considerations in Union Finance Minister Nirmala Sitharaman introducing, on Friday, the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha to amend four pieces of legislation. This amendment is also to improve audit quality in public-sector banks (PSBs), offer consistency in reporting by banks to the Reserve Bank of India (RBI), and provide for an increase in the tenure of directors in cooperative banks.
Edtech company Byju's parent Think & Learn will challenge the National Company Law Tribunal's (NCLT's) order on insolvency proceedings and may approach the National Company Law Appellate Tribunal (NCLAT) in the next few days, a source claimed. With the NCLT appointing Pankaj Srivastava as the interim resolution professional (IRP), time is running out for Byju's as the committee of creditors (CoC) begins to be formed.
The finance ministry is considering amending the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, which governs public-sector banks (PSBs), to make suitable provisions for allowing PSBs to transfer shares to the Investor Education and Protection Fund (IEPF) when dividends of such shares remain unclaimed by the investors for seven consecutive years. "While Section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, allows the transfer of unclaimed dividends to the IEPF, it, however, does not mention a provision for transferring unclaimed shares and may now be amended by the next government to allow such transfers to happen," said a person familiar with the matter.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
NPS is a cost-effective instrument with low fund management and other fees. Unlike in mutual funds, investors get the benefit of tax-free rebalancing here.
The new amendment, which came into force on April 21, has been introduced to detect discrepancies between the expenses and incomes of people who do not have to file tax returns.
Serum Institute has the capacity to make 250 million doses of Covishield monthly.
Pfizer can show the FDA approval to the Indian regulator and present a case that based on whatever data submitted, the US regulator has granted a full marketing nod, says Sohini Das.
"Kraft's acquisition of Cadbury is a global acquisition, where some value is attributable to India. This is different from Vodafone, where the transfer of a single share of the offshore company by Hutch resulted in the Indian business getting transferred to Vodafone," said Pranay Bhatia, associate partner at legal firm Economic Laws Practice.
Entertainment content (movie and music) will be 10-15 per cent more expensive, following the proposals of the Finance Bill 2010.
New packets will have to be tested again in three laboratories; these laboratories are specified by the court.
Other than breach of contract, a case for criminal negligence can also be made out in such a situation
Representatives of stressed companies could seek more time for submitting a resolution plan, provided there is appropriate justification, said legal experts, but getting an extension will not be automatic just because an NCLT Bench is on vacation.
'The low tax to GDP ratio of the country will go up, helping the government to adhere to fiscal discipline and keep inflation in check.'
Finance Minister Arun Jaitley is likely to slash corporate tax rate by about one per cent and may put an end date for certain exemptions availed by the industry.
The sentence could go up to three years if the evasion exceeds Rs 50 lakh (5 million).
Budget 2014-15 has done away with the tax sunset clause of March 2014.
The present ruling also has a bearing on Nestle's Maggi noodles.
Delhi High Court quashes reassessment proceedings by Income Tax department.
RBI had on February 12, 2018 issued a circular saying that lenders have to provide for resolution plan within 180 days in case of large account of Rs 2,000 crore and above.
Tinesh Bhasin explores the limitations of rights granted to homebuyers under the Insolvency and Bankruptcy Code.
Maggi re-entered the market on November 9.
The dispute over the tax payable for its purchase in 2007 of the 67 per cent stake in Hutch is on an amount of Rs 11,200 crore (Rs 112 billion).
Regulations ensure only PGs from Indian universities qualify.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
If any foreign account holder violates Indian laws, tax authorities can enforce repatriation of funds.
The need of the hour is to support e-commerce companies through benign policies and not to treat them as mere cash cows.
Regulator's nod assumed more importance after the Maggi issue.
The 2015 World Bank group's Doing Business index ranked India at 142, down from 140, which it was the year before.
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