Income Tax Day (Aaykar Diwas)
Day – July 24
Observed since – 2010
Commemorating – Introduction of Income Tax in India in 1860 by Sir James Wilson
Income Tax Day (Aaykar Diwas)
Day – July 24
Observed since – 2010
Commemorating – Introduction of Income Tax in India in 1860 by Sir James Wilson
The Ministry of Finance has introduced reforms to increase the participation of Foreign Portfolio Investors (FPIs) in Government Securities (G-Secs).
The measures include tax exemptions on interest income, Long Term Capital Gains (LTCG), and Short Term Capital Gains (STCG). Additionally, the reforms involve the expansion of specified securities under the Fully Accessible Route (FAR).
The Karnataka government has implemented an “Alcohol-in-Beverage” (AIB)-based excise duty structure and revised the liquor rates. It is the first instance of such a taxation model being implemented in India, following the 2026-27 Budget announcement. The State Excise Department aims to rationalize liquor pricing to make beverages more affordable for consumers.