A huge fire killed eight people and trapped at least 25 in a commercial building in India’s southern city of Secunderabad on Tuesday morning.
The blaze broke out inside an electric scooter showroom on the building's ground floor before quickly spreading to a hotel on the upper floors, in the state of Telangana.
Thick smoke engulfed the building as some were killed by asphyxiation, police said.
The building had just one exit, hindering evacuation. Its firefighting system was also defunct.
Police used crane ladders to rescue those trapped as others jumped out of windows to save themselves.
Some residents from the area joined the rescue operation.
“It appears there are 23 rooms in all the four floors in the hotel. The smoke traversed through the staircase from the bottom up to the top floor,” Hyderabad police commissioner CV Anand told a local news channel.
“Some people who were sleeping on the first and second floors came to the corridor through the thick smoke and died due to asphyxiation.”
Charges of negligence
Videos shown on television channels showed people trying to jump out from the hotel windows to escape the fire.
A case has been filed against the owners of the building and the showroom.
The cause of the fire is currently unknown.
The Indian government has initiated an inquiry into the incident, while the state government has announced compensation of 300,000 rupees ($3,772) for the families of the victims.
India's Prime Minister Narendra Modi announced additional compensation of 200,000 rupees for the families of those killed, and 50,000 rupees for the injured.
Deadly fires are common in India, which has a poor record in fire safety. Experts say the implementation of laws is lax or at times completely disregarded.
At least 27 people were killed after a fire broke out in a five-storey business complex in western Delhi, in May.
More than 70 people were injured in the blaze after they became trapped in the building, which had a single exit and a fixed glass facade.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
