Tamil Nadu has mandated its state government employees to file detailed online disclosures of assets and liabilities by October 31, marking a significant step towards enhanced transparency in public administration. Tamil Nadu has ordered state government employees to file detailed…
The Reserve Bank of India has rejected Tata Sons’ request to exit its core investment company status, prolonging regulatory scrutiny and maintaining pressure for a potential stock market listing amidst leadership and ownership uncertainties. The Reserve Bank of India has…
The Pradhan Mantri Shram Yogi Maandhan scheme aims to provide a basic pension to India’s informal sector workers, but faces challenges in enrolment and funding pressures as it strives to secure support from the country’s lowest-paid workers. The Pradhan Mantri…
India’s insurance regulator has imposed a ₹1 crore penalty on Canara HSBC Life Insurance after findings of regulatory breaches in the sale of an annuity policy to an 88-year-old customer, raising concerns over oversight of bancassurance practices for senior clients.…
A consumer commission in Kalaburagi has ordered Niva Bupa to pay ₹2,39,574 after reversing a cashless claim at discharge, highlighting issues with waiting periods and insurer conduct amid growing claim disputes across India. A district consumer commission in Kalaburagi has…
India’s non-profit reporting system shifts from a dual-form framework to a unified Form 112 from April 2026, marking a significant overhaul in how charitable organisations fulfil audit and compliance requirements. For charitable and religious trusts, the key compliance question has…
The Bombay High Court has reiterated that banks are responsible for safeguarding and returning original title papers, ordering the SBI to pay compensation for missing property deeds decades after loan repayment. This ruling highlights systemic issues in India’s property record…
The Mumbai Income Tax Appellate Tribunal has clarified that redevelopment gains linked to co-operative housing societies cannot be automatically taxed, emphasizing the importance of proper documentation and the specific nature of transfer benefits for tax purposes. Mumbai’s tax tribunal has…
A recent ruling by the Income Tax Appellate Tribunal in Panaji provides relief to charitable trusts on late filing of Form 10B audit reports, emphasising that procedural delays may not always invalidate tax exemptions if substantive requirements are met before…
Consumers in Turkey should carefully scrutinise fee-free credit cards, as regulations ensure some charges and restrictions remain despite the ‘aidatsız’ label, emphasising the importance of reading the fine print for actual costs and benefits. Consumers choosing a fee-free credit card…
The Pune bench of the Income Tax Appellate Tribunal has ordered a fresh hearing for a trust after ruling that its total receipts cannot be taxed without accounting for expenses, citing procedural delays and the importance of fair assessment. The…
Reinforcing the importance of meticulous documentation and timely filings, India’s GST system has become increasingly stringent in its input tax credit claims, demanding higher compliance standards from businesses since the introduction of invoice matching requirements in 2022. Input tax credit…
