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The government has capped gold imports under the Advance Authorisation scheme at 100 kilograms and tightened compliance and monitoring norms for importers in the gems and jewellery sector, according to a DGFT notification issued on Thursday.The Directorate General of Foreign Trade (DGFT) inserted five new notes under Standard Input Output Norms (SIONS) M-1 to M-8…
The government is working on a third edition of the Jan Vishwas Bill that will go beyond decriminalising minor offences and focus on simplifying procedures, reducing compliance burden and making business operations easier, Commerce and Industry Minister Piyush Goyal said on Wednesday.Speaking at the World Bank Group’s workshop on the Business Ready (B-READY) framework, Goyal…
The Income Tax Act, 2025 came into force from April 1, marking a major overhaul of India’s tax framework, with the Central Board of Direct Taxes (CBDT) describing it as a step towards simplified compliance and a “new chapter” in tax administration, according to PTI.The new law replaces the six-decade-old Income Tax Act, 1961, and…
CBIC Chairman Vivek Chaturvedi (File photo- ANI) The Central Board of Indirect Taxes and Customs (CBIC) is set to introduce the proposed Eligible Manufacturer-Importer (EMI) scheme by March 1, with a draft framework expected to be released in five to six days for stakeholder consultation, a top official said on Thursday.Addressing a media interaction in…
As H-1B delays persist, the issue warrants attention beyond immigration policy alone. For more than three decades, the H-1B visa program has been a cornerstone of economic integration between India and the United States, enabling movement of highly skilled professionals into sectors critical to US productivity and innovation. Indian nationals account for more than 70%…
MUMBAI: For Indian companies with a global footprint, navigating regulatory complexity has moved from the sidelines to the centre of corporate strategy. Rules on trade, tariffs, the environment, labour, data, and taxation are changing rapidly and increasingly shaping business outcomes.Import restrictions, carbon taxes, anti-dumping duties, subsidies, and localisation norms are altering cost structures, market access,…
NEW DELHI: The new income tax rules are expected to make life less taxing for taxpayers by reducing the number of forms and rules and doing away with several declarations that you are required to make under the 1962 Act, which will be replaced by the new law from April. To make life simpler for…
Tax return deadlines have been extended to 31 August in case of non-audit business cases. By Ishita SenguptaIndia’s Union Finance Minister Nirmala Sitharaman presented the Budget 2026-27 on 1 February 2026, the ninth of her tenure, terming it as a unique Yuva Shakti-driven Budget. Rather than announcing sweeping tax reductions, the Budget reinforced continuity from…
New Income Tax Rules 2026 (AI image) New Income Tax Rules 2026: The Income Tax Department on Saturday released the draft Income-tax Rules, 2026. These new rules will become effective from April 1, 2026, that is the start of the financial year 2026-27. There are several changes aimed at simplification in tax filing and ease…
The finance bill proposes to give statutory backing to guidelines issued by the Central Board of Direct Taxes (CBDT), making them binding not just on income-tax authorities but also on taxpayers responsible for deducting or collecting tax.So far, CBDT circulars and instructions were treated as binding only on the tax department and not on the…
