Everything a finance person must know - re-brewed every 10 minutes
The Delhi High Court has ruled that the limitation period under Section 74 depends on substantive notices and orders rather than later DRC-01 or DRC-07 dates. This judgment clarifies how timelines are computed for tax disputes. Finance professionals must review their case files to ensure compliance with this ruling.
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Experts argue that tax exemptions on long-term capital gains granted to foreign institutional investors should apply equally to local and retail participants. The proposal also advocates for short-term capital gains rebates, incentives for initial public offerings, and tax deductions linked to job creation.
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Navigating food business compliance in 2026 requires understanding the distinction between Food Safety and Standards Authority of India (FSSAI) registrations and licences. The framework establishes specific thresholds at ₹1.5 crore and ₹50 crore, offering perpetual validity and outlining document requirements through the FoSCoS portal.
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The Central Board of Indirect Taxes and Customs has issued Circular No. 262/08/2026-GST to remove the input tax credit block on demonstration vehicles for dealer-agency models. This update addresses tax credit restrictions under Section 17(5) and provides compliance relief for automobile dealerships operating through agency frameworks.
Effective Not specified in the update
For professionals: Review past purchases of demonstration vehicles to identify eligible unclaimed Input Tax Credit under Circular No. 262/08/2026-GST. · Advise automotive retail clients operating through agency structures on the new eligibility of demonstration vehicles for input tax credit claims. · Update Goods and Services Tax return filing procedures to incorporate input tax credit claims for demo vehicles kept exclusively for customer test drives.
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Prime Minister Narendra Modi formally opened the twenty three kilometer Pink Line of the Pune Metro network. The inauguration ceremony brings new transit infrastructure to commuters in the region. Further operational details regarding schedules and stations were marked during the launch.
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A notable multibagger stock experienced a five percent lower circuit after opening at six hundred eighty-four rupees on the national stock exchange. The equity previously closed at six hundred ninety-one rupees and twenty-five paisa on Monday before touching an intraday low of six hundred fifty-six rupees and seventy paisa on November 3. Despite this intraday decline, the security has delivered a two hundred twenty percent rally during the year 2026 so far.
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Goods and Services Tax (GST) Notification 06/2026 introduces revisions affecting electric vehicle transport services at a five percent tax rate, same-line input tax credit limitations, subcontracting rules, and electronic commerce operator delivery mandates. Finance professionals must review compliance obligations and tax positions carefully under these newly enacted provisions.
Effective Not specified in the update
For professionals: Review GST Notification 06/2026 to understand the newly defined electric vehicle transit service tax rates, same-line Input Tax Credit caps, subcontracting norms, and Electronic Commerce Operator delivery compliance. · Update enterprise resource planning systems to account for the altered tax liability calculations and input credit claims for transport companies and online platforms.
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Artificial intelligence adoption could substantially grow the country's gross domestic product according to a recent model by Cognizant. The projection outlines a theoretical upper limit of $830 billion every year based on complete workforce integration and full economic translation of efficiency gains.
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The United States midterm elections are shaping up as a direct referendum on Donald Trump. Voters and analysts are closely watching the key issues that will influence congressional outcomes and future political direction.
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The Central Board of Indirect Taxes and Customs introduces significant Goods and Services Tax modifications starting 1st November 2026. The update covers revised tax rates, specific exemptions, removed reverse charge mechanisms, a 2 percent tax deducted at source, updated electronic invoicing mandates, and revised input tax credit regulations.
Effective 1 November 2026
For professionals: Review clients' invoicing protocols, filing workflows, and input tax credit claims to ensure seamless compliance with the November 2026 notifications. · Advise clients on the new two percent tax deducted at source provisions, the scrapping of the reverse charge mechanism for certain transactions, and altered input tax credit rules. · Ensure clients reconfigure their accounting software and ERP systems to align with the revised tax rates and new compliance requirements.
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Bajaj Finserv announced a 23 percent year-on-year increase in its second-quarter net profit, touching Rs 2,758 crore. The strong financial performance reflects robust business expansion across its key operational verticals during the quarter.
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HDFC Bank shares advanced 3.2 percent as investors evaluated quarterly results showing higher net interest income and improved asset quality. Profit rose 4.7 percent year on year, while margins declined, and analysts remained positive despite lingering concerns regarding subdued earnings growth and margin pressure.
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