The Reserve Bank of India has imposed fines totalling ₹45.32 lakh on five financial institutions, signalling a stricter crackdown on administrative and compliance lapses across the credit sector, affecting credit bureaus, non-bank lenders, and NBFCs. The Reserve Bank of India…
Telangana’s LPG consumers receive a reprieve with an extended e-KYC deadline until September 7, amid widespread delays and digital hurdles, as the government prepares for the final enforcement phase nationwide. Domestic LPG consumers using Indane, Bharat Gas and HP Gas…
The Delhi High Court has called for the CBDT to clarify how bonuses and performance-linked payments to partners should be taxed, highlighting wider concerns over double taxation and compliance following recent changes in Indian tax law and regulations. A routine…
The Hyderabad bench clarifies that claiming relief under section 54F is not barred by the number of residential units or minor planning deviations, marking a significant shift in tax exemption interpretations. The Hyderabad bench of the Income Tax Appellate Tribunal…
A Hyderabad consumer commission has ordered an insurer to refund Rs 10 lakh and pay compensation to a retired professor after ruling that she was unfairly denied meaningful free-look rights due to incorrect address documentation and misleading sales practices. A…
The Bombay High Court has mandated the State Bank of India to pay Rs 5,000 daily from December 2023 until it reconstructs lost property title papers for a Mumbai firm, highlighting the enforcement of recent RBI rules on document retention…
India’s income-tax administration is broadening the scope of the Annual Information Statement (AIS), incorporating overseas investments, GST returns, and off-market securities transfers to strengthen tax transparency and cross-matching capabilities, signalling a more integrated compliance framework. India’s income-tax administration is turning…
Families relying on the Post Office Monthly Income Scheme must navigate evolving nomination and succession rules, with recent updates enabling easier claims but also highlighting the importance of keeping nomination records current to secure funds efficiently after an account holder’s…
The Reserve Bank of India issued penalties to five financial-sector companies, including Hinduja Leyland Finance, amid wider enforcement actions targeting microfinance pricing, securitisation, and credit reporting lapses. The Reserve Bank of India’s penalty on Hinduja Leyland Finance was one part…
RBI Deputy Governor Rohit Jain urges banks to tighten controls, streamline processes, and enhance digital access for retail forex customers amid rising demand and evolving expectations. RBI Deputy Governor Rohit Jain has urged banks to tighten oversight and improve the…
The Employees’ Provident Fund Organisation details how EPF interest continues post-employment and explains when accounts become inoperative, impacting ongoing earnings for retiring workers. An Employee Provident Fund balance can keep earning interest after a worker leaves a job, but only…
A Mumbai tax tribunal has clarified that signing a redevelopment agreement alone does not constitute receipt of property for tax purposes, providing relief to property owners awaiting possession amid ongoing construction. A Mumbai tax tribunal has ruled that a redevelopment…
