Newly incorporated companies in India must meet specific conditions, including filing INC-20A and securing unpaid subscription money, before they become eligible for strike-off, especially within the initial 180 days. A company that has just been incorporated can sometimes find itself…
For Indians living abroad, selecting the appropriate bank account depends on residency status and currency considerations, with non-resident options like NRO, NRE, and FCNR(B) tailored to distinct financial flows and regulations. For Indians living overseas, the question of which bank…
The Gujarat High Court has criticised tax officials over the use of AI in quasi-judicial decisions, emphasising that AI-generated material must be verified to uphold legal accountability and prevent contempt of court. The Gujarat High Court has pulled up state…
India’s securities regulator SEBI is tightening requirements for mutual fund distributors’ social media and online communications, demanding greater transparency and ongoing compliance amidst a broader push for investor protection and market integrity. Mutual fund distributors in India are being urged…
A Delhi resident successfully challenged a department decision to deny a tax refund due to the absence of an original return, highlighting the tribunal’s stance that technical lapses should not prevent lawful refunds. A Delhi taxpayer has won relief from…
Conservative savers in India face hidden costs when withdrawing fixed deposits early, including penalties, lower interest, and tax implications, prompting many to consider loans as a smarter short-term liquidity strategy. Fixed deposits remain a favoured option for conservative savers in…
The Employees’ Provident Fund Organisation has upgraded its online services, enabling convenient Aadhaar-based face authentication for first-time universal account number activation via the UMANG app, streamlining claims and account management for workers. The Employees’ Provident Fund Organisation has expanded its…
The Supreme Court of India has ordered all states to establish dedicated investigation teams to uncover a suspected widespread pattern of fraudulent motor accident insurance claims, signalling a major crackdown on insurance fraud in the country. The Supreme Court of…
The Delhi bench of the Income Tax Appellate Tribunal has invalidated a reassessment notice issued beyond the six-year statutory limit, ultimately exonerating Ravindra Sahu from a Rs 90 lakh tax demand over cash deposits, citing procedural lapses and jurisdictional issues.…
Domestic LPG customers in India have been given an extended deadline of August 31 to complete Aadhaar-based e-KYC amid efforts by oil companies to tighten identity verification and ensure continued supply. Indian Oil, Hindustan Petroleum and Bharat Petroleum have given…
The Department of Posts in India has expanded its Rural Postal Life Insurance scheme to include urban bank account holders, removing the previous residence restriction and aiming for wider coverage across the country. The Department of Posts has widened access…
Tighter auction rules introduced by the Reserve Bank of India are reshaping the gold loan market by prioritising borrower rights, transparency, and fair recovery practices, signalling a shift towards customer-centric lending. India’s gold loan market is being reshaped by tighter…
