Tax Policy Breaking News: Government Unveils New Tax Reforms, Check Live Updates & Key Changes

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Tax Policy Breaking News: Government Unveils New Tax Reforms, Check Live Updates & Key Changes.

Tax Policy and New Income Tax Rules

Live Blog Update: 1:30 PM IST

Location/Desk: IndiaPrimeTv National Desk Date: August 6, 2026 six died in a house collapsed

A tragic incident occured at Mahuli locality (Nagar Kotwali) in the Pratapgarh district of Uttar Pradesh, where due to extreme heat and humidity, seven members of a family were sleeping together in an air-conditioned room when their nearly 100-year-old dilapidated house collapsed following continuous heavy rainfall. In this devastating accident, 6 members of the family (the couple, their younger son, daughter-in-law, and two minor grandsons) died on the spot after being buried under the debris, while the elder son, Aman Shrivastava, sustained severe injuries and is currently undergoing treatment at the hospital.

Live Blog Update: 1:00 PM IST

Location/Desk: IndiaPrimeTv National Desk Date: August 6, 2026
  1. Parliament Adjourned Till 2:00 PM (Parliament Update):
    The proceedings of the Lok Sabha have been adjourned until 2:00 PM. Following tributes paid to the victims of the Hiroshima and Nagasaki atomic bombings at the start of the session, the house faced continued disruptions by opposition parties over the alleged police action against NEET protesters and other issues.
  2. Major Milestone in PM Surya Ghar Muft Bijli Yojana (Energy & Business):
    Union Minister for New and Renewable Energy Pralhad Joshi announced that the beneficiaries of the PM Surya Ghar Muft Bijli Yojana have crossed the 50 million (50 lakh) household mark nationwide. He shared this update while addressing the CII International Energy Conference in New Delhi.
  3. NITI Aayog Releases New Caregiving Report (National & Economy):
    NITI Aayog has released a significant report titled ‘Reimagining Care: Strategies for Empowering Caregivers in Viksit Bharat@2047’ aimed at strengthening the caregiving workforce in the country and positioning India as a skilled care-forward hub.
  4. Heavy Rains and IMD Orange Alert in Delhi (Weather Update):
    Heavy downpours have continued across various parts of the national capital since Thursday morning. The India Meteorological Department (IMD) has issued an orange alert for moderate to heavy rainfall accompanied by thunder and lightning, bringing residents relief from humid weather.
  5. Rivers in Spate, Red Alert Issued in Uttarakhand (State Weather):
    Due to incessant heavy rainfall in Rudraprayag and other districts of Uttarakhand, the Alaknanda and Mandakini rivers are flowing in spate. Following weather warnings for the next 24 hours, a red alert has been declared across the state, and the administration remains on high alert.
  6. Government Statement on Manual Scavengers (National):
    The government clarified in a written reply in Parliament that no manual scavengers were identified in any district across the country during the nationwide survey conducted for the 2024-25 period.
  7. Tributes Paid on Sushma Swaraj’s Death Anniversary (National Politics):
    Lok Sabha Speaker Om Birla and Home Minister Amit Shah paid homage to former External Affairs Minister late Sushma Swaraj on her death anniversary, remembering her charismatic leadership and invaluable service to the nation.
  8. India’s Stance on Sri Lankan Arrest of Indian Fishermen (International / Diplomacy):
    India has urged Sri Lankan authorities to adopt a humane approach and cooperate for the swift release of detained Indian fishermen and their boats.
  9. Student Protests Intensify Over JPSC/JSSC Exams in Jharkhand (State News):
    Student agitation against alleged irregularities in recruitment examinations has intensified in Jharkhand, with protesters raising their voices right ahead of the state assembly’s monsoon session.
  10. Road Safety and Kanwar Yatra Accident (Crime / National):
    Tragedy struck along the Delhi-Dehradun National Highway in Uttar Pradesh when a speeding vehicle hit and killed two Kanwariyas during the Kanwar Yatra, leaving one other critically injured. Local authorities are closely monitoring the situation.

Live Blog Update: 10:45 AM IST

Date: August 6, 2026

 1. National & Political Updates

  • Parliament Passes Bill to Increase Supreme Court Judges: Parliament has approved a crucial bill increasing the number of judges in the Supreme Court from 33 to 37.
  • Top Bureaucracy Tenure Extended: The central government has extended the tenure of Cabinet Secretary T.V. Somannan and Home Secretary Govind Mohan for another year.
  • PM Modi’s Appeal: Prime Minister Narendra Modi emphasized running the parliamentary session smoothly and completing legislative work without disruptions.

 2. Business & Economy Updates

  • RBI’s Plastic Banknotes Plan: The Reserve Bank of India (RBI) is preparing to roll out new ₹10 and ₹20 plastic banknotes as a pilot project starting next financial year.
  • Lok Sabha Passes Bankers’ Books Evidence Bill: To facilitate digital and virtual records as legally admissible evidence before courts in the digital era, the Lok Sabha has passed this new bill.
  • GDP Growth Forecast: The RBI has projected India’s GDP growth rate for the current fiscal year at 6.7%.

 3. States & Weather Updates

  • Earthquake Tremors in Arunachal Pradesh: According to the National Center for Seismology, two successive earthquake tremors were felt in the Upper Siang district of Arunachal Pradesh within a span of two hours.
  • Tamil Nadu’s First State Budget: Chief Minister M.K. Stalin’s government focused heavily on welfare schemes in its maiden state budget, including gold coins for brides, free laptops, and special homes for senior citizens and transgenders.
  • Free Bus Travel for Women in UP: The Uttar Pradesh government decided to provide free travel facilities in state road transport corporation buses for women aged 60 and above.

 4. International & World News

  • Indian Commercial Ship Attacked in Red Sea, Crew Safe: A commercial merchant ship flying the Indian flag was hit near the coast of Yemen and subsequently sank, but all 13 Indian sailors were safely rescued in time with the help of Yemeni authorities.
  • Hopes of Reopening Strait of Hormuz: US President Donald Trump signaled that the strategic shipping lane could soon reopen following ongoing interim talks between Iran and Oman.
  • ‘India Day’ in Massachusetts: The US state of Massachusetts honored the Indian community’s contributions to trade, education, and healthcare by officially designating August 15 as ‘India Day’.

 5. Sports News

  • Updates on Shutters & Boxers: Seven Indian women shutters advanced to the second round with stellar performances at the Korea Masters tournament. Meanwhile, PV Sindhu and Lakshya Sen are gearing up for tough matches in upcoming tournaments.
  • Table Tennis Victory: Yashaswini Ghorpade secured the women’s singles gold medal at the Commonwealth Table Tennis Championship.

 

09.20 IST indiaprimetv National Desk

Under the new tax provisions implemented by the government, major relief has been provided to the general public under the New Tax Regime. Under this, tax exemption (rebate under Section 87A) continues on income up to ₹12 lakh, and a standard deduction of ₹75,000 is available for salaried employees. Additionally, the Ministry of Finance and CBDT have notified new rules to ease compliance and enhance transparency for stock exchanges and the corporate sector.

Top 10 News of the Day

  1. Meta Apologises Over Blocked PM Modi Video
    • Why live update: Government summons and discussions with Meta executives following the accidental restriction of the Prime Minister’s video clip on social media.
  2. NEET-UG Exam Reforms & Supreme Court Directures
    • Why live update: Continuous updates regarding the Education Ministry’s proposal to shift NEET-UG to computer-based testing (CBT) and instructions to drop protest FIRs.
  3. Monsoon Fury: IMD Red Alert for Heavy Rainfall
    • Why live update: Severe weather patterns, heavy downpours, and flood warnings issued across Assam, Meghalaya, and other regions.
  4. RBI’s New Plastic Banknotes Announcement
    • Why live update: The Reserve Bank of India’s pilot project rollout plan for new ₹10 and ₹20 plastic banknotes starting next financial year.
  5. Parliament Monsoon Session & Political Showdowns
    • Why live update: Continuous disruptions, protests over recent demonstrations, and fiery debates between opposition and ruling leaders in the Lok Sabha.
  6. Air India Phuket-Delhi Turbulence Incident
    • Why live update: DGCA investigation updates and hospital reports regarding passengers and crew injured following a sudden altitude drop mid-air.
  7. Udhayanidhi Stalin Case & Political Aftermath
    • Why live update: Ongoing legal developments, police actions, and political reactions surrounding the DMK leader’s recent arrest and statements.
  8. US-Iran Diplomatic Talks & Strait of Hormuz Updates
    • Why live update: International developments as President Donald Trump indicates the reopening of the strategic shipping lane following interim agreements.
  9. FSSAI Directive on Food Labeling Claims
    • Why live update: Major market and consumer impact as food safety authorities mandate companies like Dabur to drop “100% natural” claims on specific products.
  10. State Budget Rollouts & Welfare Schemes
    • Why live update: Fresh announcements from state assemblies regarding public spending, subsidies, student support packages, and economic policies.

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