National News
Bombay High Court Grants Exemption To Foreign Institutional Investors In Capital Gains Tax

The Bombay High Court has granted exemption to Foreign Institutional Investors (FII) in the matter of capital gains from alienation of any property taxable in Singapore. The HC was hearing an appeal filed by the Commissioner of Income Tax, challenging the 2017 order of the Income Tax Appellate Tribunal in favour of M/s Citicorp Investment Bank (Singapore) Ltd for taxing capital gains of the firm in Singapore.
A division bench of Justices KR Shriram and Firdosh Pooniwalla, recently observed, “The Singapore authorities have certified that the capital gain would be brought to tax without reference to the amount remitted or received there. The assessing officer(AO) could not have come to a conclusion otherwise.”
Citicorp says they have FII debt segment with SEBI
According to Citicorp, a tax resident of Singapore, it’s an FII in debt segment with the Securities and Exchange Board of India. It filed its return on September 30, 2009, declaring total income of nearly Rs34 crore. In its return, it declared a capital gain of nearly Rs 86.62 crore on the sale of debt instruments and claimed exemption under Article 13(4) of the India-Singapore Double Taxation Avoidance Agreement (DTAA). During the assessment, the assessee was asked to explain as to how the provisions of Article 24 of DTAA stood complied in order to claim capital gain exemption in India.
Company says its is liable to pay tax in Singapore
The company contended that being an FII, it was liable to tax in Singapore on its worldwide income. Even the Singapore Revenue Authority has confirmed the taxation on the company. As per Article 13 (4) of DTAA, if the company is offering its worldwide income for taxation in Singapore then remittance of such income to Singapore has no relevance for the purpose of claiming benefit under the DTAA. The AO, however, rejected the certificate.
Singapore authorities confirm company liable to pay tax in the Southeast Asian country
Senior advocate PJ Pardiwalla, appearing for Citicorp, contended that the limitations of relief under Article 24 of the DTAA would only arise when the entire capital gain is taxed in Singapore on the remitted amount and not the entire amount. Since the Singapore authorities have also certified that under the Singapore Laws, the income derived by the assessee from buying or selling Indian Debt Securities would be considered under Singapore tax law as accruing in or derived from Singapore, such income would be brought to tax in Singapore.
National News
Aadhaar-Based Face Authentication Doubles To 200 Crore Transactions In Just 6 Months

Aadhaar-based face authentication has set new benchmark, doubling from 100 crore to 200 crore transactions in just 6 months, the government said on Monday.
Aadhaar Face Authentication lets Aadhaar holders verify their identity instantly, securely, and contactless anytime, anywhere, no documents needed.
On August 10, 2025, UIDAI celebrated a landmark 200 crore transactions of Face Authentication, showcasing India’s rapid move towards seamless, secure, and paperless authentication, according to IT Ministry.
The pace of adoption has been exponential. 50 crore transactions were recorded by mid-2024. The number doubled to 100 crore transactions in January 2025 in just about five months. In less than six months, this figure has again doubled, reaching the 200 crore milestone, the ministry informed.
“Reaching 200 crore Aadhaar Face Authentication transactions in such a short time underlines the trust and confidence that both residents and service providers have in Aadhaar’s secure, inclusive, and innovative authentication ecosystem,” said Bhuvnesh Kumar, Chief Executive Officer (CEO), UIDAI.
The journey from 100 crore to 200 crore transactions in under six months is a testament to its scalability and the country’s digital readiness.”
He further added, “From villages to metros, UIDAI is joining forces with governments, banks, and service providers to make Aadhaar Face Authentication a grand success and by giving every Indian the power to prove their identity instantly, securely, and anywhere.”
The swift rise from 100 crore to 200 crore Aadhaar Face Authentication transactions in just six months reflects the core vision of Digital India, transforming the country into a digitally empowered society and knowledge economy.
By enabling instant, secure and paperless identity verification across every corner of the nation, UIDAI is strengthening the backbone of digital governance.
“This milestone is not just about numbers, it is a testament to how inclusive technology, when scaled efficiently, can bridge divides, empower citizens and accelerate India’s journey towards a truly connected and confident digital future,” said the ministry.
Maharashtra
171 Maharashtra Tourists Safe, Search On For Missing Woman In landslide-hit Uttarakhand

Mumbai: A woman tourist from Maharashtra has remained untraceable since landslide and flash floods hit Uttarkashi district of Uttarakhand, state Disaster Management Minister Girish Mahajan said on Saturday.
The minister’s office in a statement said that 171 out of the 172 tourists from Maharashtra, who were stranded in the Dharali area, could be contacted, and they were all confirmed safe.
The Statement
“Only one person, Kritika Jain, is still missing, but the authorities are trying to locate her. Efforts are underway to establish contact with the tourist, and the Uttarakhand State Emergency Operations Centre (SEOC) has been instructed to conduct a search for her,” the statement said.
Of the 171 tourists from Maharashtra, 160 are safe at various locations – 31 are in Matli, six in Jolly Grant, and 123 in Uttarkashi – and have continued their journey as planned. The remaining 11 tourists are safe in Harsil and will be airlifted to safety, it stated.
Mahajan is overseeing the rescue operation on-site in Uttarkashi to ensure the safety of tourists.
The Maharashtra State Emergency Operation Centre (SEOC) is in constant touch with its Uttarakhand counterpart, the district control room, the district emergency operations centre in Uttarkashi, and the National Emergency Response Centre in New Delhi.
According to the statement, Chief Minister Devendra Fadnavis is monitoring the situation.
As per information shared by Uttarakhand authorities, the airlift of tourists stranded in Harsil was scheduled for Saturday morning. Army, NDRF, SDRF and local rescue teams are operational in Dharali.
The landslide and floods have damaged roads and disrupted communication networks. Efforts are underway to restore connectivity and basic infrastructure.
A satellite phone has been deployed by IGP Rajeev Swaroop, and the Army has been alerted for immediate response.
The Maharashtra SEOC is coordinating rescue arrangements, updating information, and assisting the concerned families, the statement added.
National News
‘Hurt By US President Donald Trump’s Tariff Attack, PM Modi Now Posing As Farmers’ Defender,’ Says Congress Leader Jairam Ramesh

New Delhi: Congress leader Jairam Ramesh took a swipe at Prime Minister Narendra Modi for attempting to portray himself as a champion of Indian farmers, after being “hurt and subdued” by recent criticism from US President Donald Trump.
Ramesh recalled the 2020-21 farmers’ protests against the three farm laws, alleging that the Prime Minister mocked the agitators by calling them “protest enthusiasts” in Parliament. He claimed that over 700 farmers lost their lives during the protests, yet the Prime Minister expressed no regret or sympathy.
“Five years ago, there was a time when the Prime Minister, in Parliament, mocked the protesting farmers by calling them ‘protest enthusiasts.’ More than 700 farmers lost their lives during the protests against three black, anti-farmer laws, but not a single word of pain, regret, or sympathy came from the Prime Minister’s mouth for them. Farmer organizations are still demanding a legal guarantee for MSP, calculated by adding 50% profit to the total cost of production (C2), along with concrete debt relief. The Prime Minister remains completely silent on these demands, even though these same issues were raised by India’s former Vice President,” he posted on X.
“In November 2019, the Prime Minister was fully prepared to include India in the RCEP trade agreement, which could have caused significant harm to Indian farmers and dairy producers. However, due to persistent pressure from the Congress Party and farmer organisations, Prime Minister Modi had to back down at the last moment,” he added.
He further took a jibe, saying, “Now, hurt and subdued by Trump’s attacks, PM Modi is trying to present himself as the greatest champion of Indian farmers, but no one is under any illusion about this.”
On Thursday, in a message against the tariffs imposed by the United States, Prime Minister Narendra Modi asserted that farmers remain India’s top priority and that the country would never compromise their interests.
“For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen and dairy farmers. I know we will have to pay a heavy price for it, and I am ready for it. India is ready for it,” PM Modi said while addressing the MS Swaminathan Centenary International Conference.
His remarks come amid the Trump administration doubling the tariff imposition to 50 per cent on goods from India. During trade negotiations, the United States was pushing for greater access to India’s agricultural market, especially for corn, soybeans, and cotton.
However, India has so far resisted the opening of the agricultural sector and dairy products due to concerns about domestic livelihoods and potential impacts on farmers.
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