For high-income taxpayers, buyback proceeds may now be taxed at slab rates up to 35.88%, despite the fact that the shareholder is surrendering and extinguishing their rights in the shares. (AI image) When the Finance Act, 2024 rewired the tax treatment of share buybacks, it upended a long-standing system that had—with all its imperfections—at least…
The Income tax department (ITD) on Thursday said the recent communications sent to some taxpayers regarding their transactions are advisory in nature and aimed at facilitating voluntary compliance, not initiating enforcement action.In a post on X, the department said the messages were issued only in cases where there is an apparent significant gap between disclosures…
The Securities Market Code Bill, introduced in the Lok Sabha on Thursday, proposes a sweeping overhaul of India’s securities law framework, including expanding the Securities and Exchange Board of India (Sebi) board to up to 15 members from the current nine, strengthening governance norms and enhancing investor protection, PTI reported.The Bill seeks to reinforce Sebi’s…
The Competition Commission of India (CCI) announced on Thursday it will investigate IndiGo airlines’ recent mass flight cancellations under Competition rules, following widespread disruptions that affected thousands of passengers since December 2, PTI reported.The fair trade regulator stated it has taken notice of complaints filed against IndiGo regarding the recent aviation sector disruptions across various…
PM Narendra Modi conferred with Order of Oman (Image/ANI) NEW DELHI: Prime Minister Narendra Modi on Thursday was conferred with the Order of Oman, the Sultanate’s highest civilian award, during his ongoing two-day visit to the Gulf nation.During the visit, India and Oman also signed a landmark free trade agreement, marking a significant boost to…
India’s AM Green and Japan’s Mitsui & Co are exploring a strategic partnership for the energy transition. This collaboration includes potential investments in AM Green’s integrated green aluminium platform, aiming to support the world’s first fully integrated green aluminium production facility. Discussions also cover offtake agreements for low-carbon aluminium. India’s AM Green and Japan’s Mitsui…
Trump sees the Gold Card as a tool to attract and retain outstanding talent while also creating income for the US government. (AI image) US President Donald Trump has launched his $1 million Gold Card, but Indians it seems are not too keen to shell out the amount, especially given the lack of clarity on…
PM Modi on Thursday reiterated India’s economic story, saying that growth stood at over 8%, even amid ongoing challenges. Speaking at the India-Oman Business Summit in Muscat, the PM said, “A few days ago, the economic growth figures were released, and India’s growth stood at over 8%. This means India has continued to remain the…
Counterpoint Research indicates that over 70% of iPhones sold in the US are manufactured in India. (AI image) The Tata group seems to be betting big on iPhones, with its latest regulatory filing with the Registrar of Companies indicating that it has injected an additional Rs 1,500 crore into Tata Electronics. This company manufactures iPhones…
India’s goods exports are expected to contract by around 1 per cent in FY26, compared to a marginal growth registered last year, according to a report by CareEdge Ratings.The report highlighted that while goods exports have weakened in recent months, services exports have continued to remain healthy and resilient, but they have also slowed down.It…
