The Supreme Court has refined the criteria for insider-trading liability, emphasising possession of unpublished price-sensitive information over traders’ motives, in a move likely to simplify enforcement. The Supreme Court has sharpened the test for insider-trading liability in a way that…
The Bombay High Court has reaffirmed that employees should not be penalised for their employer’s failure to deposit deducted tax, highlighting the need for factual verification amidst increasing automated tax demands due to Form 26AS mismatches. The Bombay High Court…
Taxpayers in India can still file late income tax returns until December 31, but must be wary of penalties, interest, and potential audits, as the window narrows for corrections after the deadline at year’s end. Taxpayers who miss the August…
The Reserve Bank of India Deputy Governor Swaminathan has highlighted the growing cybersecurity and operational risks faced by urban co-operative banks, urging heightened oversight of third-party dependencies in an increasingly digital banking landscape. Urban co-operative banks are facing a risk…
Organised, routine procurement fraud exploits hidden relationships within organisations, prompting a shift towards continuous monitoring and analytics to uncover sophisticated schemes that survive traditional controls. Procurement fraud is often imagined as a bad invoice or a forged approval. The deeper…
India has eased its export payment regulations in rupees, aiming to expand the currency’s use in global trade and simplify cross-border settlements, as part of a wider strategy to reduce trade friction amidst strained global conditions. India has relaxed its…
Rohit Jain calls for clearer policies and streamlined processes in retail foreign exchange services amid increasing market activity and RBI’s broader financial market development efforts. Rohit Jain has urged Indian banks to tighten the way they handle retail foreign exchange,…
State Bank of India will begin levying a fee of ₹15 plus GST on cash withdrawals exceeding four free transactions per month in its basic savings bank deposit accounts from October 2026, aligning charges across channels and encouraging digital transactions.…
The Supreme Court has clarified that failure to serve statutory notice does not automatically void an auction sale, provided the affected party had actual knowledge and suffered no substantial injury, setting a new precedent for debt recovery proceedings. The Supreme…
The Income Tax Appellate Tribunal in Delhi has provided fresh clarity on claiming capital gains relief under Section 54, ruling that construction can commence before the sale of the old property if within legal time limits, easing confusion for taxpayers.…
Despite improved investor awareness, unclaimed mutual fund dividends and redemption proceeds in India continue to rise, highlighting ongoing record-keeping challenges and the importance of proactive record management. Unclaimed money in mutual funds in India has continued to rise, even as…
The Jammu and Kashmir and Ladakh High Court’s recent ruling clarifies that tax authorities must follow due process when suspending input tax credits under Rule 86A, reinforcing procedural safeguards without undermining enforcement powers. The Jammu and Kashmir and Ladakh High…
