India Offers Tax Breaks
Move to shield Apple and others from tax on $100s of millions in iPhone profits
Story timeline20 updates
Net direct tax collection grows 23% to ₹8.11 lakh cr.
Net direct tax collection grows 23% to ₹8.11 lakh crore.
Net direct tax collection grows 23% to ₹8.11 lakh cr.
PM E-DRIVE scheme extended to March 2028, e2W incentive cut to ₹5,000
PM E-DRIVE scheme extended to March 2028, e2W incentive cut to ₹5,000
PM E-DRIVE scheme extended to March 2028, e2W incentive cut to ₹5,000
PM E-DRIVE scheme extended to March 2028, e2W incentive cut to ₹5,000.
PM E-DRIVE scheme extended to March 2028, e2W incentive cut to ₹5,000.
PM E-DRIVE scheme extended to March 2028, e2W incentive cut to ₹5,000
PM E-DRIVE scheme extended to March 2028, e2W incentive cut to ₹5,000
PM E-DRIVE scheme extended to March 2028, e2W incentive cut to ₹5,000.
The Taxation and Other Laws (Amendment) Bill, 2026, passed by Lok Sabha on August 6, extends tax incentives for electronics manufacturing and easing rules for data centres to attract long-term global investment.
The Taxation and Other Laws (Amendment) Bill, 2026, passed by Lok Sabha on August 6, extends tax incentives for electronics manufacturing and easing rules for data centres to attract long-term global investment.
The Taxation and Other Laws (Amendment) Bill, 2026, passed by the Lok Sabha on 6 August, extends tax incentives for electronics manufacturing and eases rules for data centres to attract long-term global investment.
The Taxation and Other Laws (Amendment) Bill, 2026, passed by the Lok Sabha on 6 August, extends tax incentives for electronics manufacturing and eases rules for data centres to attract long-term global investment.
The Taxation and Other Laws (Amendment) Bill, 2026, passed by the Lok Sabha on August 6, extends tax incentives for electronics manufacturing and eases rules for data centres to attract long-term global investment.
Lok Sabha passed Taxation and Other Laws (Amendment) Bill 2026 on August 6, making REIT and InvIT dividends tax-exempt regardless of SPV's tax regime choice.
The Taxation and Other Laws (Amendment) Bill, 2026, passed by the Lok Sabha on 6 August, extends dividend tax exemption to REIT and InvIT investors regardless of the SPV’s tax regime.
India's Taxation and Other Laws Amendment Bill, 2026, targets data centres and electronics manufacturing to attract global investment.
Story published. Move to shield Apple and others from tax on $100s of millions in iPhone profits
India has proposed extending tax breaks for contract manufacturing, a move that could prevent companies like Apple from facing tax exposure on profits tied to machinery supplied to local manufacturers.
The proposal addresses concerns that India’s tax laws could treat ownership of such machinery as a 'business connection,' potentially subjecting profits—such as those from iPhone sales—to taxation. Apple had previously raised fears over this interpretation, which differs from practices in markets like China.
Separately, the Income Tax Department reported over 50 million income tax return (ITR) filings for assessment year (AY) 2026-27 by 29 July, achieved in less than four months. Around 12 million returns were filed in the eight days leading up to the 31 July deadline. The total surpasses the previous year’s 73 million filings for AY 2025-26, reflecting faster compliance and digitisation efforts.
In other tax reforms, dividends paid by Special Purpose Vehicles (SPVs) to REIT and InvIT investors will now be tax-free, regardless of the SPV’s tax regime. Additionally, India is offering a 15-year income tax holiday to attract foreign firms trading rough diamonds, aiming to boost activity in Special Notified Zones and strengthen the diamond industry’s competitiveness.
