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The government has imposed a windfall gains tax of Rs 3 per litre on petrol exports with effect from May 16, PTI reported. The move comes amid elevated global crude oil prices and ongoing volatility in international energy markets following the Middle East conflict.“Govt levies Special Additional Excise Duty of Rs 3 per litre (SAED-…
NEW DELHI: Prime Minister Narendra Modi on Friday strongly rejected reports claiming that the Centre was considering imposing a cess, tax or surcharge on foreign travel to offset the fiscal impact of the ongoing conflict-linked economic pressures.Responding to the report in a post on X, PM Modi said, “This is totally false. Not an iota…
With another tax return filing season round the corner, it is pertinent for taxpayers to plan. (AI image) India’s personal tax compliance framework is undergoing a decisive transformation, driven by digitisation, pre-filled data integration, and the introduction of simplified tax regimes by the Indian Income tax department.The Income tax return (ITR) forms for FY 2025–26…
Canadian billionaire and investor Kevin O’Leary has sharply criticised California’s proposed wealth tax, warning that the measure is both ‘un-American’ and ‘unconstitutional’, and predicting it will be bogged down in years of litigation. In a post shared on social media platform X (formerly known as Twitter), paired with an interview clip with Fox News, O’Leary…
On behalf of the wife, it was argued that she had been removed from her job following initiation of the matrimonial dispute and was presently without any independent source of income. (AI image) The Allahabad High Court has reaffirmed a critical principle in matrimonial law that maintenance is not a relief to encourage a spouse…
NEW DELHI: Government’s net direct tax collections grew 5.1% to over Rs 23.4 lakh crore in 2025-26, but missed the revised target set for the fiscal year that ended March 2026.In the revised estimates (RE) for the 2025-26 fiscal, govt lowered the direct tax collection target to Rs 24.2 lakh crore. The original budget estimate…
The windfall tax was introduced to ensure that adequate domestic supplies of petroleum products remain available. (AI image) The windfall tax on exports of diesel and aviation turbine fuel (ATF) has been lowered effective May 1, 2026. The excise duty on petrol and diesel sold in the domestic market will remain unchanged. The levy on…
If you are planning to buy gold jewellery worth more than Rs 2 lakh or open a demat account without a PAN, the new income tax framework has an important update for you. From April 1, old Form 60 has been replaced by Form 97, but PAN remains compulsory for several high-value purchases and financial…
Vaibhav Sooryavanshi played a prank on two young fans at an airport by telling them he charges money for photographs, as the Rajasthan Royals (RR) opener continues to stay in the spotlight during IPL 2026.Rajasthan Royals shared the video on their social media platforms, showing the 15-year-old batter having some fun with two children who…
As a traveller, when we think of important travel documents, a passport and a boarding pass are all that seem important. That’s all Indian travellers think they require. But recently, an Instagram reel left the travel world confused. An Instagram video by influencer Sarthak Ahuja (casarthakahuja) claimed that every Indian citizen should get an Income-Tax…
