Millions of Americans could see larger tax refunds and lower tax liabilities under a new set of tax measures expected to take effect in 2026, according to details emerging from the latest federal tax reform initiative backed by President Donald Trump. The proposed changes are designed to provide targeted relief to working families, middle-income earners,...
The government has formally notified the Income-tax Act, 2025, marking a significant overhaul of India’s income tax framework. The Act, which consolidates and amends existing tax laws, received the President’s assent on August 21, 2025, as per a gazette notification issued by the Ministry of Law and Justice. The new legislation will extend to the...
Finance Minister Nirmala Sitharaman will present the Centre’s proposal on GST rate rationalisation before the Group of Ministers (GoM) during a two-day meeting starting August 20 at Vigyan Bhawan, New Delhi. The meeting, chaired by Bihar Deputy Chief Minister Samrat Choudhary, will take place on August 20 and 21, beginning at 12 noon, according to...