TAXATION


Chandramouli Mohan 16 April 2026
In August 2023, the Reserve Bank of India (RBI) set out to correct a long-standing unfair practice in lending. Through its circular (now withdrawn) DoR.MCS.REC.28/01.01.001/2023-24 dated 18 August 2023, it directed banks and non-banking finance companies (NBFCs) to abolish the practice of...

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Moneylife Digital Team 15 April 2026
In a sharp rebuke to tax authorities, the Bombay High Court (HC) has set aside the provisional attachment of bank accounts of Mumbai-based Nivara Infradevelopers LLP, calling the action arbitrary, legally unsustainable and an 'apparent abuse of powers'. In a rare move, the HC directed the joint...

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Moneylife Digital Team 06 April 2026
In a significant ruling that could have wide implications for redevelopment transactions in Mumbai and other urban centres, the income-tax appellate tribunal (ITAT) has held that a flat received in exchange for surrender of tenancy rights cannot be taxed as income from other sources under...

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KBS Sidhu 02 April 2026
Happy New Financial Year — and Welcome to the New Income Tax Act   1 April 2026 is not merely the start of a new financial year. It is the date on which India’s tax administration crossed a generational threshold. The Income Tax Act, 2025, has come into force today, replacing the...

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Moneylife Digital Team 02 April 2026
The Indian government has announced full customs duty exemption on a range of critical petrochemical products till 30 June 2026, as part of a targeted relief measure to mitigate the impact of the ongoing West Asia conflict on the domestic industry and supply chains.   In an official release,...

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Moneylife Digital Team 01 April 2026
In a significant policy clarification, central board of direct taxes (CBDT) has amended the Income-tax Rules, 2026 under the Income-tax Act, 2025, to clearly define the applicability of general anti-avoidance rules (GAAR) on investments made before 1 April 2017. The revised framework...

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Moneylife Digital Team 30 March 2026
The income-tax (I-T) department has issued a clarification on tax deduction at source (TDS) on interest under Section 194A, addressing concerns arising from definitional changes in the forthcoming Income-tax Act, 2025. The clarification reassures banking institutions that existing exemptions...

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Moneylife Digital Team 27 March 2026
The Indian government has sharply reduced excise duties on petrol and diesel, bringing petrol duty down to ₹3 per litre and fully exempting diesel, in a move aimed at cushioning oil marketing companies (OMCs) from the impact of surging global crude oil prices triggered by the ongoing Middle...

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Moneylife Digital Team 26 March 2026
The Mumbai bench of income tax appellate tribunal (ITAT) has set aside orders against actor Shilpa Shetty in a tax dispute involving an alleged gift of ₹12.54 crore from her husband Raj Kundra, directing a fresh examination by the assessing officer (AO).   In its order earlier this week, the...

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Moneylife Digital Team 23 March 2026
The income-tax (I-T) department has issued a comprehensive set of frequently asked questions (FAQs) to guide taxpayers through the transition to the Income-tax Act, 2025, which will come into effect from 1 April 2026, replacing the Income-tax Act, 1961.   The department described the shift as...

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Moneylife Digital Team 20 March 2026
Bringing meaningful relief for salaried taxpayers through extended house rent allowance (HRA) exemptions and simplified filing, while introducing new disclosure requirements including mandatory disclosure of landlord-tenant relationships, the central board of direct taxes (CBDT) has notified...

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Bar  and   Bench 20 March 2026
The Bombay High Court has held that charitable trusts in Maharashtra cannot be denied income tax registration or renewal merely because their trust deeds do not contain an “irrevocability” clause to expressly indicate that their property will irrevocably remain dedicated to charitable purposes...

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Moneylife Digital Team 14 March 2026
Several chartered accountants (CAs) and taxpayers have reported that individuals across the country recently received 'nudge' emails from the Income Tax Department regarding advance tax payments. The emails suggested that the department had reason to believe that the advance tax paid by certain...

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Moneylife Digital Team 10 March 2026
The National Stock Exchange of India Ltd (NSE) has directed its trading members, including brokers and sub-brokers, to furnish details of excess securities transaction tax (STT) collected from clients but not remitted to the government for FY23-24 and preceding years, following instructions...

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Moneylife Digital Team 10 March 2026
The income tax (I-T) department has detected suppression of sales worth around ₹408 crore in the restaurant sector following a nationwide survey conducted across multiple cities, the Union ministry of finance says in a release.   According to an official statement, the department conducted...

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Debayan Roy (Bar  and   Bench) 09 March 2026
The Supreme Court on Monday declined to entertain a petition challenging provisions of the Income Tax Act, 2025, which empower tax authorities to conduct raids without notice and search not only physical spaces but also private computer systems and virtual digital spaces while probing suspected...

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Moneylife Digital Team 07 March 2026
The income tax appellate tribunal (ITAT) has set aside a reassessment order passed against former Indian Premier League (IPL) commissioner Lalit Kumar Modi pertaining to his taxable income for FY10-11, ruling that the reassessment proceedings were fundamentally flawed on jurisdictional...

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SN Thyagarajan (Bar  and   Bench) 05 March 2026
The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has set aside a service tax demand of over ₹56 lakh raised against actor Rajinikanth for leasing a property to a hotel operator (R Rajinikanth Vs Commissioner GST & Central Excise).   A Bench of Member...

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Moneylife Digital Team 05 March 2026
A trade court in the US has directed federal authorities to begin refunding tariffs collected under president Donald Trump’s global import duties that were invalidated by the Supreme Court last month, marking a significant development in a legal battle involving billions of dollars.   Judge...

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Moneylife Digital Team 28 February 2026
In a major development that sent ripples through the banking sector, Fino Payments Bank Ltd's managing director and chief executive officer (MD&CEO) Rishi Gupta, has been arrested under provisions of the goods and service tax (GST) law. While the board appointed Ketan Merchant, its chief...

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