ITR filing AY 2025-26: Received message from I-T department? Big clarification issued – what taxpayers need to know

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…

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Securities market code bill: Sebi reform bill seeks bigger board, stronger oversight; key provisions explained

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…

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IndiGo disruptions: CCI to review mass flight cancellations, probe to examine competition angle

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…

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Fuel efficiency norms: Tata Motors opposes exemption for small petrol cars under CAFE; flags impact on EV push, safety

Tata Motors has opposed proposals to exempt small petrol vehicles from the Corporate Average Fuel Efficiency (CAFE) norms, arguing that such relaxations could dilute the focus on sustainable technologies and undermine the country’s push towards electric mobility, PTI reported.In a letter to the Prime Minister’s Office, the Mumbai-based automaker said granting exemptions to petrol vehicles…

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