A. Tax in Media
The Ministry of Finance & Corporate Affairs has sought to clear the confusion among apartment owners and resident welfare associations (RWAs) over imposition of Goods & Services Tax (GST) on monthly maintenance.
Kerala HC strikes down GST on services by clubs to members, calls it unconstitutional
The Kerala High Court has struck down the provisions of the Central Goods and Services Tax Act, 2017, which allowed the levy of GST on supply by clubs and associations to their members.
TajGVK Hotels Faces Rs 42 Lakh Tax Demand
TajGVK Hotels on Thursday said it has received an assessment order amounting to Rs 42.13 lakh in tax demand, interest and penalty related to “mismatch” in service tax abatement availed by the company.
Customs
‘Zero-for-Zero’ tariffs unlikely under proposed India-US bilateral trade agreement: Report
A “zero-for-zero” tariff trade deal is unlikely under the proposed India-US bilateral trade agreement as the two countries are at different levels of economic development, reported the news agency PTI, citing officials aware of the development on Sunday, April 13.
Tariffs can boost manufacturing, but are India’s factories ready?
Trade wars unleashed by US President Donald Trump’s tariffs policy can offer a big opportunity to India to boost its manufacturing as Trump appears to be primarily targeting China. The US paused reciprocal tariffs on India and over 75 other countries, while imposing steep 145% duties on Chinese exports, though the Trump administration has now excluded smartphones, computers and related electronics from its proposed reciprocal tariffs.
Trump exempts phones, computers, chips from new tariffs
President Donald Trump exempted smartphones, computers, and other tech devices and components from his reciprocal tariffs, new guidance from U.S. Customs and Border Protection shows.
Income tax
Cap gains of NRIs on mutual fund units can’t be taxed in India: ITAT
In a major relief for a Non-Resident Indian (NRI) investor, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that short-term capital gains worth ₹1.35 crore from redeeming mutual fund units are not taxable in India, as per the provisions of the India-Singapore tax treaty.
The Income Tax Department has released a new brochure explaining Section 194-IB which relates to obligations of a tenant to pay Tax Deducted at Source (TDS) by deducting it from house rent.
UK residents with Indian domicile now face tax on overseas income
If you are a UK resident and have a domicile in India, you will now have to pay tax on your foreign income. The UK has brought in new tax rules from April 6, 2025, changing how foreign income is treated for residents with overseas ties. The previous system that allowed UK residents to avoid tax on foreign income under the remittance basis has ended.
Fake invoices: I-T dept reopening hundreds of old assessment cases
The income tax (I-T) department has begun reopening hundreds of old assessment cases, targeting businesses that may have claimed fake or inflated purchases to suppress profits and reduce tax liability.
Income Tax Returns FY25: Record-setting 9.19 crore ITRs filed till March 31
The Income Tax department set a new record last month with more than 9.19 crore people filing their returns for FY25 by the end of March.
Other taxes
India, 62 countries agree to world’s 1st global carbon tax in shipping industry
India joined 62 other countries in agreeing to the world’s first-ever global carbon tax by bringing commercial shipping under this mechanism to tackle the greenhouse gas emissions in the sector. Under the agreement, ship owners will need to use cleaner fuels or face fines beginning 2028.
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