Draft Income Tax Rules 2026: Redesigned income tax return (ITR) forms, broader criterion for applicability of ITR forms, and more pre-filled details are some of the changes that income taxpayers can look forward to for the upcoming tax year 2026-2027 for which returns will be filed in 2027-28.The Income Tax Department has released the Draft…
Kashmir on Friday witnessed a first-of-its-kind milestone in automobile logistics, with the arrival of its maiden dedicated car carrier rake by Indian Railways.A special train carrying 116 brand-new Maruti Suzuki vehicles, including Brezza, Dzire, WagonR and S-Presso, rolled into the Anantnag Goods Shed directly from the company’s Manesar plant in Haryana, PTI reported. This marks…
China has escalated trade tensions with India by launching a dispute at the World Trade Organization (WTO) over New Delhi’s policies covering solar cells, solar modules and information technology goods, seeking formal consultations under the global trade body’s dispute settlement mechanism, Reuters reported.The WTO said on Tuesday that China has requested dispute consultations with India,…
Budget 2026 income tax expectations By Kuldip KumarAs the Union Budget approaches, expectations of major tax giveaways appear muted. However, this Budget may assume significance not for dramatic announcements, but for how the Government balances growth, fiscal discipline, and reform amid a challenging economic environment.A Challenging Economic BackdropThe Honourable Finance Minister faces a complex macroeconomic…
The reduction of US reciprocal tariffs on Indian goods from 25 per cent to 10 per cent is expected to significantly improve the competitiveness of labour-intensive sectors such as pharmaceuticals, electronics, engineering goods, textiles, and gems and jewellery in the American market, industry representatives said.The development follows a US Supreme Court ruling that struck down…
By Jake Chasan and Will ConteThere is an irony about India’s position in global pharmaceuticals: the country supplies forty percent of the United States’ generic medications, earning its reputation as the “pharmacy of the world.” Yet beneath this veneer of dominance lies an uncomfortable truth: seventy percent of the active pharmaceutical ingredients (APIs) and key…
Asian markets inched higher on Friday amid holiday-thinned trading, with several exchanges remaining closed for the Boxing Day holiday. Regional stocks extended gains after Wall Street ended the week at record highs, while most global markets were shut on Thursday for Christmas.Markets in Tokyo, Shanghai, Seoul and Taipei all posted gains. Japan’s Topix climbed to…
Rani Mukerji’s stunning airport saree, embodying grace and sophistication, struck a chord with her fans as she marked the triumphant journey of Mardaani 3. The film’s powerful narrative, addressing the vital issue of 93 missing girls, has already amassed over Rs 38 crore at the box office. Despite fierce competition, Mukerji’s ability to resonate with…
The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said that recent GST reforms have delivered significant relief to the diamonds and jewellery sector, easing costs for both exporters and consumers.The government’s move to exempt imports of natural cut and polished diamonds up to 25 cents under the Diamond Imprest Authorisation Scheme (DIAS) from…
The commerce ministry has begun a detailed mapping of mandatory and voluntary non-tariff measures across major global markets as part of a new effort to strengthen export quality and technical compliance.In a note, the Directorate General of Foreign Trade (DGFT) said it is compiling a database of regulatory requirements — including certifications, testing protocols, inspections,…
