Apax Partners Picks Up Minority Stake In Ready-To-Cook Brand ID Fresh Apax Partners has acquired a significant minority stake around 35% in ready-to-cook brand iD Fresh Food for roughly $166 million (around INR 1,500 crores), marking its first India deal in over a year. The stake was bought from existing investors Premji Invest and TPG NewQuest, who will continue […]
GST Calendar –Compliances for the month of January ’2026 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) February 10, 2026 GSTR-8 (Tax Collected at Source ‘TCS’) February 10, 2026 GSTR-1 February 11, 2026 IFF- Invoice furnishing facility (Availing QRMP) February 13, 2026 GSTR-6 Input Service Distributor February 13, 2026 GSTR-2B (Auto Generated Statement) February 14, 2026 […]
No changes have been proposed to the personal tax rates under the old or new tax regime or to the rates of surcharge and education cess by Finance Bill 2026. The tax rates and slabs under the new tax regime of Section 202 of the ITA 2025 (corresponding to Section 115BAC of the ITA 1961) shall be as follows: Total […]
February 2026 – Tax Calendar 7th Feb Due date for deposit of Tax deducted/collected for the month of January, 2026 14th Feb Due date for issue of TDS Certificate for tax deducted under section 194-IA; 194-IB; 194M & 194S in the month of December, 2025 15th Feb Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for […]
Amendments made by the Finance Bill 2026 to the Income Tax Act, 2025 (‘the Act’) as well as Income Tax, 1961 are summarized hereunder: Rates of Income Tax: Personal Tax Rates/ Slabs: There is no change in the existing slab rates for the Tax Year 2026-27 applicable for all categories of individuals, HUF, AOP, BOI opting for old tax […]
It is my pleasure to write to you from the RNM India stall at World Forum of Accountants 2026 (WOFA2.0) being hosted at Greater Noida by ICAI on a Sunday, a few hours after Mrs. Nirmala Sitharaman, Hon’ble Union Minister for Finance presented the first ever Union Budget on the floor of the Parliament on a Sunday. When it comes […]
Budget’ 2026 Indirect tax Customs duty Policy changes The Finance Bill, 2026 retains the median rate of Basic Customs Duty at 10%, reflecting continuity in the overall Customs Tariff policy while enabling targeted duty rationalisation for select sectors in line with domestic manufacturing and trade facilitation. Customs Tariff Act Rate movement The following changes will be effective from February 2, […]
January 2026 – Tax Calendar 7th Jan Due date for deposit of Tax deducted/collected for the month of December, 2025 7th Jan Due date for deposit of TDS for the period October 2025 to December 2025 when the Assessing Officer has permitted quarterly deposit of TDS under Sections 192, 194A, 194D or 194H. 14th Jan Due date for issue of […]
Important Judicial Precedents Non-compete fee paid to restrict competition held allowable as revenue expenditure under sec. 37(1): SC [2025] 181 taxmann.com 657 (SC) Sharp Business System vs. Commissioner of Income-tax Where assessee paid a non-compete fee to restrain another party from operating in same business segment, such payment merely protected or enhanced assessee’s business profitability and facilitated more efficient conduct […]
Indirect Tax News Letter GST Calendar –Compliances for the month of December ’2025 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) January 10, 2026 GSTR-8 (Tax Collected at Source ‘TCS’) January 10, 2026 GSTR-1 January 11, 2026 IFF- Invoice furnishing facility (Availing QRMP) January 13, 2026 GSTR-6 Input Service Distributor January 13, 2026 GSTR-2B (Auto Generated Statement) […]