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Trump weighs US gas tax holiday but the federal cut may save drivers only about two dollars

Trump weighs US gas tax holiday but the federal cut may save drivers only about two dollars

US President Trump is considering a temporary suspension of the federal gas tax to ease soaring fuel prices. The federal levy stands at 18.4 cents per gallon for gasoline and 24.4 cents for diesel. Even if paused, analysts expect only modest relief—roughly $2 per tank for many sedans—while state-level tax cuts could deliver larger discounts.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Indians rush to buy 1 crore health cover as premiums reshape tax relief

Indians rush to buy 1 crore health cover as premiums reshape tax relief

Indians are increasingly choosing health insurance policies worth ₹1 crore or more as medical bills rise and awareness grows. Insurers say demand is accelerating because customers are willing to pay higher premiums for higher payouts, with GST-related pricing changes making larger cover options more accessible and easier to shop for.

Summarised by Beize from a story on The Economic Times on 30 Apr 2026

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Budget 2026 Sitharaman offers big MAT relief to non residents on presumptive taxes

Budget 2026 Sitharaman offers big MAT relief to non residents on presumptive taxes

Union Budget 2026 proposals by Finance Minister Nirmala Sitharaman include exempting non residents paying tax under presumptive schemes from Minimum Alternate Tax. The safe harbour threshold for IT services will rise to Rs 2,000 crore, while TCS on liquor, scrap and minerals is cut to 2 percent. Safe harbour rules will also streamline accountant definitions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Fitch unit flags India buffers to shield jobs as Iran war jitters trade and costs

Fitch unit flags India buffers to shield jobs as Iran war jitters trade and costs

As uncertainty from the Iran war ripples through global trade, Fitch’s BMI expects India to deploy three economic buffers. The plan emphasizes securing essential supplies, easing business costs via subsidies and tax relief, and expanding credit support for small firms. Together, these measures are aimed at stabilizing key industries and protecting jobs amid volatile conditions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget cuts TCS rates and simplifies TDS process to reduce upfront tax burden on taxpayers

Budget cuts TCS rates and simplifies TDS process to reduce upfront tax burden on taxpayers

The Union Budget makes tax collection simpler by revising Tax Collected at Source (TCS) rates and easing parts of the TDS framework. A key relief comes from a lower 2% TCS on education, medical, and tour packages below ₹10 lakh—expected to reduce upfront payments for overseas travelers, students, and people arranging medical treatment abroad.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
FACSI demands GST easing and easier credit for micro and small firms in 2026 27 Budget

FACSI demands GST easing and easier credit for micro and small firms in 2026 27 Budget

FACSI has asked the Centre to give micro and small enterprises stronger support in the 2026 27 Union Budget, calling for GST relief, easier credit, and faster access to finance. It also wants a dedicated advisory council for MSMEs and simpler GST return processes, arguing that reducing compliance and funding friction could boost survival and growth.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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