A Landmark Overhaul of India’s Direct Tax System

India’s direct tax regime is set to undergo its most comprehensive transformation in over six decades with the enactment of the Income-tax Act, 2025, which will replace the long-standing Income-tax Act, 1961. The new legislation will come into force from April 1, 2026, and will apply to income earned from the financial year 2025–26 onwards. The reform reflects a decisive shift towards simplification, legal clarity and technology-driven tax administration.

Home Loan Relief: LIC Housing Finance Lowers New Lending Rates Ahead of 2026

LIC Housing Finance Ltd. (LIC HFL) has announced a reduction in interest rates on new home loans, bringing lending rates down to 7.15% onwards, effective December 22, 2025. The move comes in response to the recent 25 basis point repo rate cut by the Reserve Bank of India’s Monetary Policy Committee (MPC) and is expected to provide fresh momentum to the housing market.

UN Renews Congo Peacekeeping Mission Amid M23 Offensive and Humanitarian Crisis

The United Nations Security Council has urged Rwanda to withdraw its forces from eastern Democratic Republic of Congo (DRC) and unanimously voted to extend the UN peacekeeping mission, MONUSCO, for another year, as violence escalates despite recent diplomatic efforts. The decision reflects mounting international concern over renewed fighting in the mineral-rich region.

Ingrid Carlberg to Become New Permanent Secretary of Nobel Literature Body

The Swedish Academy, the prestigious institution responsible for awarding the Nobel Prize in Literature, has announced that its Permanent Secretary Mats Malm will step down after seven years at the helm. The resignation marks the end of a stabilisation phase for the Academy following one of the most turbulent periods in its history.

Australia Reels After Deadly Hanukkah Attack Near Sydney’s Bondi Beach

Australian authorities have identified the perpetrators of the deadly Bondi Beach terror attack as a father–son duo, Sajid Akram and Naveed Akram, bringing clarity to one of the most serious mass-casualty incidents the country has witnessed in decades. The attack targeted a Jewish community gathering celebrating Hanukkah near Sydney’s Bondi Beach, resulting in at least 15 fatalities and triggering nationwide shock.