TAXATION


Moneylife Digital Team 09 February 2026
With less than two months to go before India’s biggest direct tax overhaul in six decades takes effect, the income tax (I-T) department has invited public and stakeholder feedback on the draft Income-tax Rules and Forms, 2026, signalling the final phase of preparations for the new Income-tax...

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Moneylife Digital Team 03 February 2026
The Mumbai bench of the income tax appellate tribunal (ITAT) has delivered a strong rebuke to the tax department’s practice of making additions for alleged 'on-money' payments based solely on third-party statements, holding that taxpayers cannot be compelled to prove a negative in the absence...

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Moneylife Digital Team 02 February 2026
The sharp rise in retail participation in India’s derivatives market and mounting regulatory concerns over speculative trading have emerged as key themes behind the Union Budget 2026 decision to raise the securities transaction tax (STT) on futures and options (F&O).   A Lok Sabha reply by...

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Moneylife Digital Team 02 February 2026
The Union Budget 2026 has delivered a significant policy shift for investors in sovereign gold bonds (SGBs), effectively ending the long-held assumption that capital gains on these instruments are tax-free at maturity for all holders.   With gold prices touching record highs and investors...

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Moneylife Digital Team 02 February 2026
Union Budget 2026 has unveiled a series of targeted measures aimed at easing investment, taxation and compliance for non-resident Indians (NRIs) and persons resident outside India (PROIs), signalling a renewed effort by the government to deepen economic engagement with the Indian...

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Moneylife Digital Team 01 February 2026
Signalling continuity after last year’s sweeping overhaul of the tax regime, finance minister (FM) Nirmala Sitharaman on Sunday left personal income-tax (I-T) rates and slabs unchanged in the Union Budget 2026–27. Instead of altering rates, the government has chosen to focus on simplifying...

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Moneylife Digital Team 01 February 2026
The income tax (I-T) department on Sunday issued a clarification on the increase in securities transaction tax (STT) on derivatives, stating that the higher rates apply only to futures and options (F&O) transactions (sale and exercise), while all other STT rates remain unchanged. "The revised...

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Prashant Jha (Bar  and   Bench) 19 January 2026
The Delhi High Court on Monday quashed the income tax reassessment notices issued to NDTV founders Prannoy Roy and Radhika Roy in March 2016 over certain interest-free loans advanced by RRPR Holding, the promoter of NDTV.    A Division Bench of Justices Dinesh Mehta and Vinok Kumar also...

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Makar Sankranti, in the south of the country, particularly in Tamil Nadu, is the harbinger of a new solar month that is eagerly awaited to start new initiatives—a marriage in the family, buying a house, or starting a business.   Even the most sanguine in the finance ministry would not have...

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Moneylife Digital Team 15 January 2026
In a significant blow to foreign investors leveraging offshore structures, the Supreme Court of India has ruled that US-based investment firm Tiger Global must pay capital gains tax on its US$1.6bn (billion) stake sale in Flipkart to Walmart in 2018. The verdict, delivered by justice JB...

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KBS Sidhu 14 January 2026
What the Income-Tax Numbers Reveal Beyond the CBDT Press Note   India’s latest direct-tax numbers paint a picture that is neither a triumph nor a disaster. They suggest a system that remains broadly stable in aggregate, but one that is increasingly dependent on individuals—and on accounting...

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Moneylife Digital Team 08 January 2026
US president Donald Trump has backed a hardline bipartisan sanctions bill that would allow Washington to impose tariffs of up to 500% on countries purchasing Russian oil, significantly raising pressure on major buyers such as India, China and Brazil.   The development was confirmed by...

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Moneylife Digital Team 05 January 2026
US president Donald Trump has publicly linked India’s recent reduction in Russian oil purchases to trade pressure from Washington, warning that the US can raise tariffs on Indian goods 'very quickly' if New Delhi fails to address American concerns.   Speaking to reporters aboard Air Force One...

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Moneylife Digital Team 02 January 2026
India’s net goods and services tax (GST) collections grew 2.2% year-on-year in December 2025 to ₹1.45 lakh crore, marking the slowest pace of growth in indirect tax revenues since December 2024. The subdued performance highlights the pressure from weak domestic demand and elevated refund...

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Moneylife Digital Team 31 December 2025
Central bureau of investigation (CBI) has arrested Prabha Bhandari, an officer from the Indian Revenue Service (IRS) cadre who was working as deputy commissioner of customs & indirect taxes along with Anil Tiwari and Ajay Kumar Sharma, both superintendents from the Central goods and services...

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Prashant Jha (Bar  and   Bench) 24 December 2025
The Delhi High Court on Wednesday said that an urgent meeting of the Goods and Services Tax Council (GST Council) should be convened to consider the issue of classifying air-purifiers as 'medical device' and slashing the GST levied on them from 18 to 5 percent (Kapil Madan vs Union of India &...

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Moneylife Digital Team 22 December 2025
The Mumbai bench of the income tax appellate tribunal (ITAT) has allowed a cooperative housing society (CHS)’ claim for deduction on interest income earned from fixed deposits (FDs) placed with a cooperative bank, reiterating that such income qualifies for relief under Section 80P(2)(d) of the...

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Sikha Bansal  and   Nitu Poddar 16 December 2025
The Indian Stamp Act, 1899 (Stamp Act) was amended in 2019 through the Finance Act, 2019 ('Amendment'), broadly to introduce a unified mechanism for the levy and collection of stamp duty on the issuance and transfer of securities. This was done through the insertion of Sections 4(3), 9A, 9B,...

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KBS Sidhu 12 December 2025
The Indian Constitution promises equality before the law. Yet in recent years, the income tax department’s application of Section 13A—which governs the exemption of political party income from taxation—has raised uncomfortable questions about whether this principle applies uniformly or...

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Moneylife Digital Team 10 December 2025
The Mumbai bench of the income-tax appellate tribunal (ITAT) has set aside an addition of ₹59.87 lakh made by the income-tax (I-T) department on the basis of stamp duty valuation, holding that the valuation prevailing on the date of the property’s allotment must be adopted when part...

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