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Representative image. | Photo Credit: Getty Images/iStockphoto The Income Tax Department on Saturday (August 15, 2026) notified a new voluntary disclosure scheme allowing small taxpayers to declare certain undisclosed foreign assets and income by paying an effective 60% tax, as the government seeks to bring overseas holdings into the tax net without exposing eligible taxpayers to further penalties or prosecution.The Foreign Assets of Small Taxpayers-Disclosure Scheme (FAST-DS), announced in the 2026-27 Budget, will take effect from Sunday (August 16, 2026), with online declarations open until December 31, 2026, the Central Board of Direct Taxes (CBDT) said.The scheme is aimed at…

India’s captain Shubman Gill with batting coach Sitanshu Kotak. File. | Photo Credit: PTI Hopping across the Palk Strait, Devdutt Padikkal has found his groove. In the warm-up fixture in Colombo, he cracked an unbeaten 142, and once he moved to Sri Lanka’s southern coast, a splendid maiden Test hundred was essayed. “I am so happy for him. He was waiting for this opportunity and the way he played was really encouraging,” India’s batting coach Sitanshu Kotak said.Talking to the media after the conclusion of the first Test’s opening day in Galle on Saturday (August 16, 2026), Kotak offered his…

At a time when the government is proposing to allow the levy of a charge on UPI transactions, an analysis shows that the growth in the value of UPI transactions has been slowing for the last five years, while the growth of cash with the public has been quickening over this period. Paywall: On a charge on UPI transactionsWhile slowing, the growth of UPI transactions remains faster than the growth of cash among the public, but this margin is shrinking. Experts say this is both a sign of higher economic activity and higher price levels than are being reflected in the official…

Mehidy Hasan Miraz is congratulated by teammates after taking the wicket of Australia’s Steve Smith | Photo Credit: AP Bangladesh moved to within sight of one of the biggest wins in its Test cricket history after Australia stumbled to 161-4 and remained 67 runs behind at stumps on Day 3 of the first Test on Saturday (August 15, 2026).Cameron Green (43 not out) and Alex Carey (19 not out) dug in to keep Australia afloat, but the hosts face a huge task to first erase the deficit and then build a competitive total to defend in the final innings. Bangladesh…

The story so far: The Rajya Sabha on Wednesday (August 12, 2026) passed an amendment to the Mines and Minerals (Development and Regulation) Act, which, among other things, specifies that States do not levy any tax or cess on mineral, mineral bearing lands and overall operations. The now-ratified legislation has drawn immense opposition from several mineral-rich States, including Odisha and Jharkhand – accusing the Union Govt of encroaching upon their constitutional powers.What does the law primarily entail?With an objective to impart “stability, certainty and predictability” into the fiscal regime of the mineral sector, the ratified legislation, among other things, seeks…

Isa Guha, the first female cricketer of South Asian origin to play for England, took 148 international wickets across formats in a nine-year career with her seam bowling. The World Cup winner is now one of the game’s pioneering female commentators. Excerpts from an interview Guha gave The Hindu at Lord’s:You were a part of the England team that won the 2009 World Cup. In the final against New Zealand, you had provided the breakthrough, dismissing Kate Pulford.It is incredible really that it has been 17 years already. I remember, back then, we were just the curtain-raiser to the men.…

Image used for representational purposes only. | Photo Credit: Reuters In their latest fortnightly review, the government cut the export duty on petrol to nil, whilst reducing the levy on export of diesel and aviation turbine fuel (ATF) to ₹24 for every litre and ₹19.5 for every litre respectively.Also read | Export duty on diesel, ATF reduced; petrol increasedThere is no change in excise duty rates for petrol and diesel towards domestic consumption.Since the peak of the conflict in West Asia earlier this year, the government has been fortnightly reviewing export levies since March 27 to ensure domestic availability of…

Task at hand: Mathews feels that pacers like Asitha will have a role to play with the new ball. | Photo Credit: PTI As Sri Lanka looks to end its decade-long win drought against India in Tests, former Lanka skipper Angelo Mathews said the team has to play a positive brand of cricket to tame the visitors.“You’ve got all the videos, and there are no secrets in international cricket nowadays. So, it’s about the positive body language and the mindset they need to take into the field. They are coming up against a huge Indian line-up, and it’s never easy to play against…

KL Rahul plays a shot during the day one of the first cricket test match between Sri Lanka and India in Galle, Sri Lanka, Saturday, Aug. 15, 2026. | Photo Credit: AP India captain Shubman Gill won the toss and elected to bat against Sri Lanka in the first Test of their two-match series on Saturday (August 15, 2026).India named a largely unchanged playing XI from their last Test against Afghanistan in June, with Devdutt Padikkal coming in for the injured Sai Sudharsan.Sri Lanka handed debut to off-spin bowling all-rounder Keshara Nuwantha.TeamsIndia: KL Rahul, Yashasvi Jaiswal, Devdutt Padikkal, Shubman Gill…

In 2021, I started cycling across India with a Nikon D850 camera and a loose plan to photograph whatever I found along the way — people, places, small routines of everyday life. I wanted to step away from a fixed routine and spend more time on the road, and cycling, with its slower pace, seemed the best way to do it.It wasn’t meant to be a long project. And yet five years passed as I got to know the people of my country, and the journey turned into nearly 21,000 kilometres across 28 states and more than 180 villages. Bishnupur…