Tax & Finance Updates — India
Short, sourced notes on tax and finance stories that affect Indian taxpayers. Every item links to the original report so you can read it in full.
Summaries of reporting by the outlets named, not tax advice and not our analysis. Read the linked source before acting.
Centre to hold state finance ministers’ conference ahead of GST Council meeting
Livemint reports that the Union finance ministry will hold a two-day conference of state finance ministers and finance secretaries. The conference aims to discuss financing priorities for India’s development journey ahead of the GST Council meeting and the start of pre-budget meetings for the Union Budget 2027-28.
Centre challenges High Court ruling on Income Tax Section 147A
Business Standard reports that the Union government has moved the Supreme Court to challenge the Punjab and Haryana High Court ruling that invalidated the retrospective provision governing tax reassessment powers of jurisdictional officers in India. The government is seeking to overturn this ruling regarding Income Tax Section 147A.
India renegotiates tax treaties with Mauritius, Singapore, Cyprus
Moneycontrol reports that India has renegotiated its tax treaties with Mauritius, Singapore, and Cyprus to restore its right to tax capital gains arising from investments in India at source, according to Finance Minister Nirmala Sitharaman. Sitharaman also mentioned other changes in India’s international tax framework, including the implementation of the General Anti-Avoidance Rules and the Multilateral Instrument.
ITAT Ahmedabad grants partial relief in income tax notice case
Livemint reports that the Income Tax Appellate Tribunal (ITAT), Ahmedabad, has provided partial relief to an Indian working in Kuwait who faced an income tax notice regarding financial holdings. The tribunal deleted a portion of the tax addition and ordered fresh verification of a significant amount linked to HDFC Bank.
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