10 Essential Tax & Corporate Secretarial Stories for Professionals

India's media monitoring landscape delivers authoritative coverage of tax policy, corporate governance, and compliance. According to Press Monitor's press review of Indian publications, this media intelligence draws from print media monitoring across national and regional dailies to cover 10 essential stories on news on tax compliance and regulatory change that every professional should follow.

1. Indian Tax Reforms Mark Major Milestone

A front-page report in Business Standard says India’s tax reform journey has evolved significantly since the 1991 economic liberalisation under former Finance Minister Manmohan Singh, culminating in the rollout of the new Income Tax Act 2025 and major Goods and Services Tax rationalisations. Experts highlight that while technology, lower rates, and simplified compliance have driven progress, challenges such as pending tax appeals, classification disputes, and expanding the tax base to sectors like petroleum remain on the unfinished agenda.

India's tax reform journey has evolved significantly since the 1991 economic liberalisation, culminating in the rollout of the new Income Tax Act 2025 and major GST rationalisations. Experts highlight that technology, lower rates, and simplified compliance have driven progress, while challenges such as pending tax appeals, classification disputes, and expanding the tax base to sectors like petroleum remain on the unfinished agenda.

Why it matters: This marks a defining shift in how Indian businesses approach tax planning and compliance.

Source: Business Standard, by Monika Yadav, New Delhi, 15 September 2026.

Next step: Monitor how the new Income Tax Act 2025 provisions roll out in the coming quarters.

2. Delhi High Court Quashes Seven Patanjali ITAT Orders

A front-page report in Economic Times says the Delhi High Court quashed seven Income Tax Appellate Tribunal orders concerning Patanjali Ayurved's tax assessments for fiscal years twenty thirteen to sixteen and twenty seventeen to eighteen. The division bench condemned the tribunal for procedural lapses, undue haste, and a complete failure to apply judicial mind during the hearing of cross-appeals. The directive follows scrutiny of assessment proceedings triggered by a search under section one five three C of the Income-tax Act linking the firm to Hawala Traders Group.

The Delhi High Court set aside seven Income Tax Appellate Tribunal orders concerning Patanjali Ayurved Limited, citing serious procedural deficiencies and a lack of reasoning. The division bench condemned the tribunal for undue haste and inconsistencies, flagging a complete failure to apply judicial mind during cross-appeal hearings. The scrutiny originated from assessment proceedings linked to Hawala Traders Group under section 153C of the Income-tax Act.

Why it matters: This ruling reinforces judicial oversight of ITAT proceedings and raises the bar for procedural fairness in tax disputes.

Source: Economic Times, by Indu Bhan, New Delhi, 15 September 2026. Cross-referenced across Business Standard, Hindustan Times, and Economic Times.

Next step: Companies facing ITAT appeals should review their procedural compliance and documentation practices.

3. Indian Staffing Federation Urges GST Rate Cut on Employment Services

A front-page report in Business Line says the Indian Staffing Federation urges the government to slash the goods and services tax rate on employment services from 18 per cent to 5 per cent at the September 2025 GST Council meeting. Citing a 3.6 times higher burden compared to most goods, the federation warns that the current levy drains Rs 20,000 to Rs 30,000 crore annually in India and pushes workers into informal gig arrangements. Moving the sector to the lower slab would release substantial cash flow, expand formal hiring across logistics and manufacturing, and extend social security coverage to millions of workers.

The Indian Staffing Federation has urged the government to reduce GST on employment services from 18 per cent to 5 per cent. Citing a 3.6 times higher burden compared to most goods, the federation warns that the current levy drains Rs 20,000 to Rs 30,000 crore annually and pushes workers into informal gig arrangements. A rate cut would release substantial cash flow, expand formal hiring, and extend social security coverage to millions.

Why it matters: This proposal could reshape the labour market and formalise millions of contract jobs across logistics and manufacturing.

Source: Business Line, by Suchita Dutta, Delhi.

Next step: Watch for the GST Council's response at the next meeting.

4. Tamil Nadu Could Unlock Rs 1.2 Lakh Crore in Fiscal Capacity

A front-page report in Business Line says the Indian Staffing Federation urges the government to reduce the Goods and Services Tax on employment services from eighteen per cent to five per cent. The proposed rate cut aims to formalise millions of contract jobs and prevent a yearly drain of twenty thousand to thirty thousand rupees crore from business liquidity caused by the current higher levy.

A Kearney study reveals that Tamil Nadu could generate over Rs 1.2 lakh crore in annual fiscal capacity through improved revenue management and spending discipline rather than increasing taxes or borrowing. Recommendations include tightening GST and general sales tax compliance, implementing differentiated excise rates via Tasmac, rationalising stamp duty guideline values, and adopting drone surveys for quarry royalties.

Why it matters: This offers a blueprint for states seeking revenue growth without new tax burdens.

Source: Business Line, by Sindhu Hariharan, Chennai.

Next step: State finance departments should evaluate these six solutions for immediate implementation.

5. Singapore Income Exemption Rule for NRIs in 2026

A front-page report in Mint says that a non-resident Indian who earns a salary in Singapore during a short stay in India will not have that income taxed in India unless the work is performed in India. The report notes that if the tax resident status in Singapore is maintained and a Singapore tax residency certificate is obtained, the income earned while in India may still be exempt under the India–Singapore Double Taxation Avoidance Agreement. The individual’s Indian income from inherited assets remains taxable in India but does not affect his Singapore earnings.

A non-resident Indian earning a salary in Singapore during a short stay in India will not have that income taxed in India unless the work is performed in India. If the individual maintains Singapore tax residency and obtains a Singapore tax residency certificate, the income may remain exempt under the India-Singapore Double Taxation Avoidance Agreement. Indian income from inherited assets remains taxable.

Why it matters: This clarification affects NRI tax planning and cross-border income structuring.

Source: Mint, 15 September 2026.

Next step: NRIs should verify their residency status and DTAA applicability before filing returns.

6. Infosys Board Meeting to Approve Q3/Q1 Results and Interim Dividend

A front-page report in Business Standard says Infosys Limited has scheduled a board meeting on October 22 and 23, 2026, to review the company's quarterly and half-yearly financial performance. The meeting is expected to include discussions on audited consolidated and standalone financial statements as per INDAS and IFRS for the period ending September 30, 2026.

Infosys Limited has scheduled a board meeting on October 22 and 23, 2026, to review the company's quarterly and half-yearly financial performance. The meeting is expected to include discussions on audited consolidated and standalone financial statements as per INDAS and IFRS for the period ending September 30, 2026.

Why it matters: Board-level financial reporting and interim dividend decisions are core corporate secretarial obligations.

Source: Business Standard, by A.G.S. Manikantha, Bengaluru, 15 September 2026.

Next step: Shareholders and analysts should prepare for the Q3 results announcement.

7. Delhi High Court Orders 783 Crore Refund to Teva Pharmaceutical

A front-page report in Mint says the Delhi High Court has ordered a refund of approximately 783 crore Indian rupees to Israeli drugmaker Teva Pharmaceutical Industries Ltd following a nine-year-old legal dispute over tax proceedings tied to former Ranbaxy Laboratories. The bench, comprising Justices Dinesh Mehta and Vinod Kumar, ruled that tax notices against Teva USA were time-barred and lacked jurisdiction, directing the income tax department to process the refund along with applicable interest within two months, subject to providing a corporate surety.

The Delhi High Court has ordered a refund of approximately 783 crore rupees to Israeli drugmaker Teva Pharmaceutical Industries Ltd following a nine-year-old legal dispute over tax proceedings tied to former Ranbaxy Laboratories. The bench ruled that tax notices against Teva USA were time-barred and lacked jurisdiction, directing the Income Tax Department to process the refund with applicable interest within two months, subject to corporate surety.

Why it matters: This ruling sets a precedent on the time-barring of tax notices and jurisdictional limits of tax authorities.

Source: Mint, by Isha Yadav and Krishna Yadav, New Delhi, 15 September 2026.

Next step: Companies with pending tax disputes should review the statute of limitations on their assessments.

8. 83-Year-Old Woman Avoids Tax Additions by Proving Deposit Sources

A front-page report in Business Standard says an 83-year-old woman avoided tax additions at the Income Tax Appellate Tribunal by proving the source of her bank deposits with records. The tribunal deleted estimated income additions of Rs 2.42 lakh, Rs 1.06 lakh, and Rs 1.50 lakh after she produced fixed deposit receipts and cash withdrawal records. Tax experts advise keeping bank statements, FD receipts, and pension records to explain fund sources and avoid future scrutiny.

An 83-year-old woman avoided tax additions at the Income Tax Appellate Tribunal by proving the source of her bank deposits with records. The tribunal deleted estimated income additions of Rs 2.42 lakh, Rs 1.06 lakh, and Rs 1.50 lakh after she produced fixed deposit receipts and cash withdrawal records. Tax experts advise keeping bank statements, FD receipts, and pension records to explain fund sources and avoid future scrutiny.

Why it matters: This case underscores the importance of maintaining thorough financial records for ITAT scrutiny.

Source: Business Standard, 15 September 2026.

Next step: Individuals should organise their banking and FD documentation ahead of assessment proceedings.

9. Joint Property Tax Dispute: Capital Gains Depend on Funding, Not Title

A front-page report in Free Press Journal says Mumbai Income Tax Appellate Tribunal rulings have clarified that capital gains and rental income from jointly purchased residential properties depend on actual funding contributions rather than mere names on title deeds. In recent decisions regarding Section fifty-four exemptions, the tribunal rejected assessment officer rejections solely because new homes were co-owned by spouses, provided purchase proportions and payment sources are properly documented. Taxpayers must maintain detailed records of bank statements, loan documents, and gift deeds to substantiate their respective ownership shares during disputes.

Mumbai Income Tax Appellate Tribunal rulings have clarified that capital gains and rental income from jointly purchased residential properties depend on actual funding contributions rather than mere names on title deeds. In Section 54 exemption cases, the tribunal rejected assessment officer rejections solely because new homes were co-owned by spouses, provided purchase proportions and payment sources are properly documented.

Why it matters: This clarifies the tax treatment of jointly owned property and the importance of documenting funding sources.

Source: Free Press Journal, by Rajesh M Kayal.

Next step: Co-owners should maintain detailed records of bank statements, loan documents, and gift deeds.

10. Yes Bank Challenges Fortis Healthcare Forensic Audit Ruling at Supreme Court

A front-page report in Economic Times says Yes Bank has moved the Supreme Court challenging a Delhi High Court ruling that directed a forensic audit of the conduct of 16 other banks and financial institutions in selling Fortis Healthcare shares in the open market in 2018. The high court ruling related to Japanese drugmaker Daiichi Sankyo's petition seeking execution of a 3,500 crore Singapore arbitration award it won against former FHL promoters Malvinder and Shivinder Singh. Yes Bank argued it was neither a party to the 2008 arbitral award nor was made a party to the execution proceedings, and challenged the arbitrary and vague findings necessitating top court interference.

Yes Bank has moved the Supreme Court challenging a Delhi High Court ruling that directed a forensic audit of 16 banks and financial institutions for their role in selling Fortis Healthcare shares in 2018. The high court ruling related to Japanese drugmaker Daiichi Sankyo's petition seeking execution of a 3,500 crore Singapore arbitration award against former FHL promoters Malvinder and Shivinder Singh. Yes Bank argued it was neither a party to the 2008 arbitral award nor was made a party to the execution proceedings.

Why it matters: This case has significant implications for forensic auditing standards and banking sector governance.

Source: Economic Times, New Delhi, 18 July 2026.

Next step: Financial institutions should review their compliance with forensic audit directives.

Which of these developments will have the greatest impact on your compliance strategy? Share your thoughts and tag the entities involved.