The Mumbai Income Tax Appellate Tribunal rules that genuine, fully documented property deals between spouses are not automatically considered tax avoidance, setting a precedent for future family transactions under Section 54F. The Mumbai Income Tax Appellate Tribunal has ruled that…
India’s labour ministry has increased the mandatory wage ceiling for Employees’ Provident Fund contributions to Rs25,000, ensuring employees’ net salaries remain unaffected despite higher employer contributions, in a move aimed at expanding social security coverage. India’s labour ministry has told…
New enhancements to the EPFO portal’s Form 13 simplify the transfer of provident fund balances across multiple accounts, helping workers consolidate their retirement savings effortlessly after switching jobs. Changing jobs does not automatically move provident fund savings into a new…
Deepening tensions over inheritance and gift transfers are causing a surge in legal battles in South Korea, prompting calls for better planning amid a legal landscape in flux. Long holiday gatherings can surface more than family nostalgia. In South Korea,…
The Reserve Bank of India introduces a revised framework for large fixed deposit interest rates, aiming to enhance transparency, reduce branch-to-branch variation, and standardise pricing for depositors by October 2026. The Reserve Bank of India is tightening the rules on…
India is set to raise its higher EPFO wage ceiling from ₹15,000 to ₹25,000, potentially extending retirement benefits and social security to millions of formal workers, with changes effective from September 2026. India’s higher EPFO wage ceiling is set to…
Zerodha CEO Nithin Kamath warns that policy changes by regulators like IRDAI can rapidly alter the economics of regulated industries, impacting investor confidence and business models. Regulatory risk can matter more than headline growth when a business depends on rules…
The Supreme Court has reinforced that circulars issued by the Central Board of Direct Taxes are only binding on departmental officials and cannot override statutory law when judges interpret tax legislation, affecting deductions linked to export quotas. The Supreme Court…
The Madras High Court has ruled that a ₹10,000 minimum penalty under GST cannot be automatically applied to minor breaches without proper hearings, reinforcing principles of proportionality and natural justice in tax law. The Madras High Court has ruled that…
As the 30 September deadline approaches for tax audit reports for AY 2026-27, taxpayers are advised to meticulously check their submissions to avoid errors that could lead to scrutiny or notices, especially with recent reporting changes and tighter compliance requirements.…
Inheriting a diverse portfolio of assets does not automatically trigger a tax bill; strategic reinvestment in residential property can offer relief, subject to specific conditions, experts advise. Selling inherited assets can create a tax bill, but it does not always…
India’s insurance regulator, IRDAI, has unveiled a comprehensive plan to cap commissions, tighten expense controls, and curb sales practices, potentially transforming how policies are sold amid market upheaval. India’s insurance regulator has proposed a sweeping reset of how policies are…
