Tax

Andersen Global partners with JMP Advisors to strengthen presence in India

Multinational tax and advisory firm Andersen Global has strengthened its presence in India through a collaboration agreement with tax and regulatory advisory firm JMP Advisors. The partnership is aimed at enhancing Andersen Global's capabilities in one of the world's fastest-growing major economies, a joint statement said. The collaboration will enable the global advisory firm to expand its tax, regulatory, transaction advisory and business consulting services in India, while providing multinational clients with access to local expertise and cross-border advisory solutions, it said. JMP Advisors, founded by tax expert Jairaj Purandare, advises domestic and international clients on a wide range of matters, including international and domestic taxation, transfer pricing, foreign investment advisory, cross-border structuring, transaction support, succession planning and regulatory compliance. The firm serves multinational corporations, private equity and venture capital-backed compani

Old vs new tax regimes: What is the difference, what are the benefits

A taxpayer can switch between the two regimes while filing the returns but cannot go back to the other one till the year ends after making a selection

Salaried employees and taxes: Paperwork and declarations explained

Declare less than you expect to invest: It's easier to claim a refund later than to pay extra TDS

RBI injects ₹72,300 crore as advance tax outflows squeeze liquidity

Surplus liquidity fell to ₹23,881.21 crore on June 16 from ₹1.51 trillion a day earlier; overnight rates trade above repo rate

LTCG scrapped for FIIs: Why India just made government bonds tax-free for foreign investors

Why has India made government bonds virtually tax-free for foreign investors? In this video, we explain the Centre's latest tax amendment that removes taxes on interest income

Could your income tax return face complete scrutiny under CBDT's new rules?

The CBDT has identified six categories of taxpayers for mandatory complete scrutiny in FY27. Understanding the triggers can help taxpayers stay prepared

Why you should not rely solely on AIS data for filing tax return

Information contained in AIS should be cross-checked against data in various statements of financial transactions

Understand legal and financial risks before becoming a joint account holder

Use joint accounts only where shared access is genuinely needed; do your due diligence before joining

Mismatch between IBC and tax law clouds loss carry-forward benefits

A growing mismatch between insolvency and tax laws is raising uncertainty for companies, with tax authorities denying loss carry-forward benefits despite approved resolution plans

CBIC allows duty drawback on re-export of SEZ goods cleared to DTA

Tax body clarifies that SEZ goods cleared to DTA and re-exported will qualify as imports for duty drawback, aiming to ensure uniformity and reduce disputes

Gifting mutual funds to your child? Full process, tax rules & what parents should know

Gifting mutual funds to children has become a smart way for Indian parents to build long-term wealth for their kids. But with demat requirements and tax rules in place,

Old vs new tax regime: Higher allowances, HRA changes warrant a review

Employees whose cost to company includes these components may find the old regime more beneficial this year

India got highest number of regressive tax recommendations from IMF: Oxfam

India received the highest number of regressive tax recommendations from the International Monetary Fund (IMF) between 2022 and 2024, according to an analysis by Oxfam. The analysis, released ahead of the IMF and World Bank spring meetings in Washington, has flagged that the global body is applying "double standard" by giving largely progressive advice to wealthy countries while suggesting regressive measures for others that are "likely to exacerbate inequality". The report said 59 per cent of the IMF's tax advice to low- and lower-middle-income countries was regressive, while 52 per cent of its recommendations to high-income countries were progressive. A regressive tax refers to a uniform taxation system which burdens those in lower income groups more than high earners. In contrast, a tax levied in proportion to one's income is termed progressive. Oxfam examined 1,049 tax recommendations made by the IMF to 125 countries between 2022 and 2024 and found that only 30 recommendations,

All about ITR forms for AY27: How to choose the right ITR form? | ITR-1 | ITR-2 | ITR-3 | ITR-4

Income Tax Return (ITR) forms for Assessment Year 2026–27 (AY27) have been notified, alongside updates to the compliance mechanism and verification rules.

Global corporation tax system has become complex, ineffective: Devereux

Economist Michael Devereux calls for moving beyond incremental reforms, arguing current global tax rules are complex, ineffective, and ill-suited to taxing multinationals

Govt plan to levy data tax may earn nearly ₹30K cr in revenue: IIFL Capital

₹1/GB data tax could fetch ₹30,000 crore but raise mobile bills by up to 20%, says IIFL; proposal may face pushback over regressive impact

No windfall tax on diesel, ATF exports from Reliance SEZ refinery

The reimposed windfall export taxes on diesel and aviation turbine fuel (ATF) will not apply to Reliance Industries Ltd's SEZ refinery due to judicial rulings, a senior official said on Thursday. Effective March 26, the government revised fuel levies, reintroducing export duties of Rs 21.50 per litre on diesel and Rs 29.50 per litre on ATF, while keeping petrol exports exempt. The move coincided with a Rs 10 per litre cut in excise duty on petrol and diesel. Initially, it was not clear if exports from Reliance's special economic zone (SEZ) refinery - one of the largest contributors to India's refined product exports - would retain exemptions similar to those under the 2022 windfall tax regime. "As per judicial prouncements on this issue, the special additional excise duty and additional excise duty are not applicable on SEZ refineries," Jainendra Singh Kandhari, Joint Secretary in the Tax Research Unit (TRU-1) of the Department of Revenue, said at a media briefing. The government .

Tiger Global ruling concerns: CBDT exempts pre-FY18 investments from Gaar

CBDT clarifies GAAR provisions to exempt pre-2017 investments from scrutiny, aiming to boost investor confidence and ensure tax certainty

Priced out of India's digital revolution: Taxes weigh on smartphone demand

The smartphone is now part of basic economic infrastructure. A farmer in Vidarbha uses his phone to check mandi prices before selling his produce

FY26 marks sweeping tax overhaul with new income tax law, GST reforms

Union Budget-driven changes introduce new Income Tax Act, GST 2.0 rationalisation, and compliance reforms aimed at simplifying taxation and boosting transparency