Skip to content

Finance, made simple.

LIVE · 45 sources 9 govt trackersLive news, laws, quiz & AI - fresh every 10 min.

Finance Dose

Everything a finance person must know - re-brewed every 10 minutes

AI curated

Live Updates

400 stories
Income Tax

Tribunal rules Indian subsidiary and foreign parent operate as distinct legal entities for exports

The tribunal clarified that distinct corporate registration and principal-to-principal contracts establish independent business operations. This framework qualifies transactions as exports and entitles the entity to unutilised input tax credit refunds alongside statutory interest.

Effective Not specified in the update

For professionals: Review existing intercompany agreements between Indian subsidiaries and foreign parents to ensure explicit principal-to-principal clauses are documented. · Advise clients to establish distinct legal personality through formal incorporation and arm's-length contractual terms to prevent tax authorities from mischaracterizing international service delivery as domestic intermediary operations. · Assist taxpayers in securing refunds of unutilised input tax credit together with applicable statutory interest for transactions substantiated as exports.

Open for the full story →

Taxscan2m ago 1 min
Income Tax Breaking

Supreme Court upholds thirty percent income tax on lottery winnings regardless of business income classification

The Supreme Court has confirmed that lottery prize money faces a thirty percent income tax rate. This applies regardless of whether the earnings are classified as business income. The ruling upholds a previous judgment by the Kerala High Court.

Effective Not specified in the update

For professionals: Advise clients that lottery prize money is taxed at a flat thirty percent under section 115BB of the Income Tax Act. · Warn clients that lottery winnings cannot be classified under business income to claim expenses or lower rates. · Review all client portfolios involving lottery windfalls to ensure strict compliance with this judicial clarity.

Open for the full story →

Taxscan7m ago 1 min
Global Finance

Marvell Technology Acquires Lumentum for $115 Billion to Expand AI Infrastructure

Marvell Technology has agreed to purchase optical-components producer Lumentum through a transaction valued at $115 billion. This major acquisition is aimed at strengthening the buyer's presence within the artificial intelligence data-center market. Both companies have finalized the terms of this massive corporate buyout.

Effective Not specified in the update

For professionals: Finance professionals and technology analysts should monitor regulatory filings, shareholder voting schedules, and integration updates related to the acquisition. · Watch for subsequent official announcements regarding closing timelines and operational restructuring.

Open for the full story →

CNBC Global7m ago 1 min
Business

Chopper services for pilgrimage halted as operators lock horns over co-pilot mandate

Helicopter operators have paused pilgrimage travel operations following a dispute over mandatory co-pilot regulations. Representatives met with aviation authorities and state officials, who proposed enforcing the rule during next year's registration. Further discussions between the stakeholders are scheduled for November 4.

Effective Starting next year

For professionals: Helicopter operators and aviation professionals face a stand-off regarding the mandatory deployment of co-pilots for pilgrimage transport services. · A meeting involving operator representatives, the Directorate General of Civil Aviation, and the Uttarakhand Civil Aviation Development Authority took place to address the suspension of Char Dham services. · The government suggested making the co-pilot rule mandatory starting next year as a component of the annual registration procedure for charter operators.

Open for the full story →

ET Industry8m ago 1 min
GST

Tribunal permits transitional input tax credit of rupees 1.76 lakh for commercial vehicle

Tax authorities permitted a transitional credit claim of rupees 1.76 lakh on a commercial vehicle put into operation after the rollout of indirect tax reforms. The ruling bypassed procedural gaps regarding non-submission of specific value-added tax paperwork from the pre-reform era. Business taxpayers gain clarity on claiming legacy credits despite historical procedural omissions.

Effective Not specified in the update

For professionals: The Goods and Services Tax Appellate Tribunal permitted a transitional credit claim valued at rupees 1.76 lakh concerning a commercial vehicle put into service after the rollout of the indirect tax regime despite the non-filing of KVAT Form 25. · Judicial and appellate scrutiny typically weighs substantive tax relief against procedural non-compliance to ensure taxpayers are not unduly penalized for administrative oversights during major legislative transitions. · Tax authorities frequently contest carry-forward claims when taxpayers fail to comply with every procedural requirement or submission deadline mandated under earlier provincial tax laws.

Scrips: ITC

Open for the full story →

Taxscan10m ago 1 min
GST

Appellate tribunal rules inactive return portal fails to waive interest on delayed payments

The appellate tribunal clarified that the functional status of a legacy return filing mechanism does not remove statutory interest dues. Taxpayers remain obligated to discharge interest liabilities when failing to settle supplier invoices within the mandated timeframe. Finance teams must account for ongoing interest exposures despite portal limitations.

Effective Not specified in the update

For professionals: Advise clients that portal technical glitches or inactive functionalities do not waive statutory interest liabilities for failing to pay suppliers within 180 days. · Ensure clients reverse claimed input tax credits along with applicable interest if they do not clear dues to suppliers within the specified timeframe from the invoice date.

Open for the full story →

Taxscan17m ago 1 min
Banking

DCB bank launches medium term fixed deposit offering 7.50 percent interest rate

The banking institution introduced a medium term fixed deposit scheme offering an annual return of 7.50 percent, effective from 27 October 2026. The financial product features special interest tiers for senior citizens alongside standard premature withdrawal, taxation, and deposit insurance guidelines. Wealth managers and retail investors can evaluate this option for medium horizon fixed income allocations.

Effective 27 October 2026

For professionals: Tax advisors must remind clients that interest earnings are fully taxable according to individual income slabs. · Review the premature closure terms and applicable tax deductions at source for the callable fixed deposit scheme.

Open for the full story →

Taxguru21m ago 1 min
RBI/SEBI Govt

Academic journal invites scholarly submissions for upcoming arbitration law publication

Scholarly contributions are invited for the upcoming volume of a specialized legal publication focusing on domestic and international arbitration. Researchers, practitioners, and students can submit analytical papers exploring contemporary developments in dispute resolution jurisprudence. This initiative encourages academic discourse on evolving arbitration practices.

Effective Not specified in the update

For professionals: Submit original research manuscripts, case notes, and legislative commentaries for Volume IX of the Indian Arbitration law Review. · Focus submissions on contemporary trends in dispute resolution, procedural bottlenecks, institutional arbitration frameworks, and cross-border enforcement challenges. · Adhere to the prescribed citation standards, word limits, and thematic guidelines of the journal and monitor submission deadlines.

Open for the full story →

SCC Online21m ago 1 min
Income Tax

High court rules legacy foreign exchange penalty challenges maintain criminal appeal status

The Calcutta High Court determined that legal proceedings originating from adjudication under a repealed foreign exchange statute preserve their penal classification. Consequently, appeals lodged after the introduction of the successor legislation continue to be processed as criminal matters. This judicial clarification impacts the appellate journey of legacy regulatory disputes.

Effective Not specified in the update

For professionals: Advocates representing clients in legacy regulatory proceedings must correctly designate their appellate filings in accordance with the penal classification. · Appeals against penalties stemming from adjudication under the repealed Foreign Exchange Regulation Act preserve their inherent penal nature and can be heard as criminal appeals even when filed after the enactment of the Foreign Exchange Management Act.

Open for the full story →

Taxscan24m ago 1 min
GST

Appellate authority bars dual recovery of tax dues despite accounting mismatches

The tax appellate body ruled that authorities cannot initiate a fresh recovery action for tax amounts already settled simply due to internal accounting reconciliation errors. Furthermore, thorough invoice verification validated the legitimacy of the disputed input tax credit claim. This decision protects taxpayers from arbitrary double taxation resulting from administrative oversight.

Effective Not specified in the update

For professionals: Assist clients in maintaining robust reconciliation statements linking bank challans directly to electronic liability ledgers to counter erroneous recovery notices. · Ensure adjudicating authorities evaluate substantive compliance over minor clerical discrepancies in ledger adjustments when taxpayers produce verifiable proof of tax payment and genuine vendor invoices.

Open for the full story →

Taxscan24m ago 1 min
Business

Wockhardt grows biotechnology revenue by twenty-four percent after expanding novel antibiotic access

Wockhardt expanded marketing access for the novel antibiotic Miqnaf across India after a supply condition was lifted. The company posted a twenty-four percent rise in second quarter revenue driven by strong biotechnology demand. Meanwhile, Zaynich secured United States Food and Drug Administration approval for complicated urinary tract infections.

Effective Not specified in the update

For professionals: Wockhardt expanded marketing access for Miqnaf in India following the removal of a prior supply condition. Zaynich obtained approval from the United States Food and Drug Administration to treat complicated urinary tract infections. Financial professionals should monitor subsequent quarterly earnings reports, regulatory filings, and distribution updates regarding Miqnaf and Zaynich.

Open for the full story →

ET Industry25m ago 1 min
Markets Breaking

Reliance Industries Shares Jump Nearly Twelve Percent Following Strong Quarterly Financials

Reliance Industries shares climbed nearly twelve percent to ₹1,300 on Monday, marking their highest comparable daily surge since April 2020. The stellar market performance followed record second-quarter earnings, which boosted the total market capitalization by ₹1.84 lakh crore to reach ₹17.6 lakh crore.

Effective Monday

For professionals: Review asset allocation limits to ensure portfolio concentration risks remain managed following sudden large-cap valuation spikes. · Keep a close watch on subsequent quarterly disclosures and macroeconomic factors. · Monitor upcoming volume trends and block deal data to gauge institutional commitment.

Scrips: Reliance Industries

Open for the full story →

LiveMint Markets28m ago 1 min

Explore everything

One place for all of finance - tap any card to jump in.