IBBI proposes tighter checks on personal guarantors, “related” creditors
https://www.financialexpress.com/business/news/ibbi-proposes-tighter-checks-on-personal-guarantors-related-creditors/4338485/?ref=hometop_hp IBBI Proposes Stricter Rules for Personal Guarantor Insolvency to Curb Related-Party Voting and Safeguard Lender Recovery The insolvency regulator is looking to tighten rules
Setty bats for ‘know your agent’ framework as AI enters banking
https://www.financialexpress.com/business/banking-finance-setty-bats-for-know-your-agent-framework-as-ai-enters-banking-4336334 Banks will need to develop a “know your agent” framework covering identity, authentication, customer consent, transaction limits and audit trails as artificial intelligence begins to
Holding a mirror to GDP numbers
https://www.financialexpress.com/opinion/holding-a-mirror-to-gdp-numbers/4338206 As someone said, tongue in cheek, people don’t eat GDP numbers. People eat food, wear clothes and footwear, send their children to school, buy medicines, use
Taxable income below Rs 12 lakh: Will you pay zero income tax if this income includes LTCG and STCG for Tax Year 2026-27?
Read more at:https://economictimes.indiatimes.com/wealth/tax/taxable-income-below-rs-12-lakh-will-you-pay-zero-income-tax-if-this-income-includes-ltcg-and-stcg-for-tax-year-2026-27/articleshow/134119480.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/taxable-income-below-rs-12-lakh-will-you-pay-zero-income-tax-if-this-income-includes-ltcg-and-stcg-for-tax-year-2026-27/articleshow/134119480.cms Incomes that are charged at a special rate, like long term capital gains and short term capital gains from listed equities, aren’t eligible for the
Rs 6.42 lakh travel expense disallowed as business expenditure over use of wife’s credit card; businessman contests tax order, wins relief in ITAT Mumbai
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/rs-6-42-lakh-travel-expense-disallowed-as-business-expenditure-over-use-of-wifes-credit-card-businessman-contests-tax-order-wins-relief-in-itat-mumbai/articleshow/134126429.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/legal/will/rs-6-42-lakh-travel-expense-disallowed-as-business-expenditure-over-use-of-wifes-credit-card-businessman-contests-tax-order-wins-relief-in-itat-mumbai/articleshow/134126429.cms The Income Tax Appellate Tribunal (ITAT) Mumbai recently granted relief to a businessman whose Rs 6.42 lakh travel expenditures were disallowed
ITR Not Sole Basis for Assessing Deceased’s Income: Orissa HC
https://www.taxscan.in/top-stories/itr-not-sole-basis-for-assessing-deceaseds-income-orissa-hc-read-order-1451377 In a significant ruling, the Orissa High Court held that the income tax returns (ITR) is not the sole basis for consideration of the
Turnover Mismatch Between Service Tax and Income Tax Returns Cannot Alone Sustain Addition: ITAT
https://www.taxscan.in/top-stories/turnover-mismatch-between-service-tax-and-income-tax-returns-cannot-alone-sustain-addition-itat-1451379 The Income Tax Appellate Tribunal (ITAT), Delhi Bench, dismissed the Revenue’s appeal and upheld deletion of the addition made on account of the difference
Credit card stolen and used? RBI rules explain who will bear the loss
https://www.financialexpress.com/money/credit-card-stolen-and-used-rbi-rules-explain-who-will-bear-the-loss-4337365 Have you thought about the financial burden that would result if your credit card went missing or was stolen and ended up in the hands of
Your queries on Income Tax: File revised ITR if you have omitted late dividends
https://www.financialexpress.com/money/your-queries-on-income-tax-file-revised-itr-if-you-have-omitted-late-dividends-4337370 l I have received dividends of some bonds last month for FY25. I filed my returns in July. Should I now file revised returns
Rs 1.09 crore remittance sent home by an Indian working in Kuwait, but he didn’t file ITR, received income tax notice; gets relief in ITAT Ahmedabad
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-1-09-crore-remittance-sent-to-home-by-an-indian-working-in-kuwait-but-he-didnt-file-itr-received-income-tax-notice-gets-relief-in-itat-ahmedabad/articleshow/134003093.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/rs-1-09-crore-remittance-sent-to-home-by-an-indian-working-in-kuwait-but-he-didnt-file-itr-received-income-tax-notice-gets-relief-in-itat-ahmedabad/articleshow/134003093.cms Mr Narshibhai, who hailed from Krishnanagar Naroda Road, Ahmedabad, emigrated to Kuwait to work in the oilfields of Mina Al-Ahmadi, Kuwait.
Rs 1.17 crore interest income of minor child: Father faces Rs 12.83 lakh penalty; ITAT Delhi cancels it
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-1-17-crore-interest-income-of-minor-child-father-faces-rs-12-83-lakh-penalty-itat-delhi-cancels-it/articleshow/134059686.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/rs-1-17-crore-interest-income-of-minor-child-father-faces-rs-12-83-lakh-penalty-itat-delhi-cancels-it/articleshow/134059686.cms ITAT Delhi has ruled that a father cannot be imposed with Rs 12.83 lakh penalty under Section 270A if his ITR-reported
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