Read more at:https://economictimes.indiatimes.com/industry/banking/finance/banking/sebi-eases-kyc-norms-for-nris-ocis-and-foreign-nationals-allows-digital-onboarding-from-overseas/articleshow/135550076.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mumbai: The Securities and Exchange Board of India Wednesday relaxed Know Your Client (KYC) requirements for non-resident Indians (NRIs), Overseas Citizens of
Category: Five Star
*****SBI cracks down on dormant accounts to curb cyber frauds
https://www.financialexpress.com/business/banking-finance-sbi-cracks-down-on-dormant-accounts-to-curb-cyber-frauds-4369227 By Abhijit Lele State Bank of India (SBI), the country’s largest lender, plans to close inoperative savings accounts with zero balances to curb cyber
*****Central Bank of India clarifies all accounts are safe after reports of 187 unauthorised transactions worth Rs 13.97 crore
Read more at:https://economictimes.indiatimes.com/wealth/save/central-bank-of-india-clarifies-all-accounts-are-safe-after-reports-of-187-unauthorised-transactions-worth-rs-13-97-crore/articleshow/135206556.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Central Bank of India has clarified that no customer accounts were affected by the unauthorised RTGS transactions reported in the media. The
*****SBI’s Setty sees 50 bps more rate hikes, says retail loan quality unlikely to suffer
Read more at:https://economictimes.indiatimes.com/industry/banking/finance/banking/sbis-setty-sees-50-bps-more-rate-hikes-says-retail-loan-quality-unlikely-to-suffer/articleshow/135209277.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/industry/banking/finance/banking/sbis-setty-sees-50-bps-more-rate-hikes-says-retail-loan-quality-unlikely-to-suffer/articleshow/135209277.cms State Bank of India chairman CS Setty noted that upcoming rate hikes could affect discretionary consumption demand. He highlighted that retail
*****Bank fraud hits public sector stocks harder: Study
https://www.financialexpress.com/business/banking-finance/bank-fraud-hits-public-sector-stocks-harder-study/4367302 Public Sector Bank Stocks Suffer Sharpest Drop Bank fraud cases tend to hurt public sector bank stocks more sharply than private bank stocks with
*****Rising corporate borrowings, hello!
Read more at:https://economictimes.indiatimes.com/opinion/et-editorial/rising-corporate-borrowings-hello/articleshow/135100251.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Public Sector Banks in India are experiencing an increase in corporate borrowing, reflecting a strengthening of private sector capital expenditure. Key sectors
*****Rising bond yields add to banks’ ECL transition burden
https://www.financialexpress.com/business/banking-finance-rising-bond-yields-add-to-banks-ecl-transition-burden-4365594 Rising government bond yields are threatening to increase the cost of banks’ transition to new accounting norms from April 2027. While most banks have
*****NRI capital gains tax: When can you use the basic exemption limit to lower your income tax bill?
Read more at:https://economictimes.indiatimes.com/wealth/tax/nri-capital-gains-tax-when-can-you-use-the-basic-exemption-limit-to-lower-your-income-tax-bill/articleshow/134989302.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Indian residents and resident Hindu Undivided Families (HUFs) can apply their unused basic exemption limit to certain capital gains that are taxed
*****Man earns Rs 75 lakh by redeveloping property inherited from mother, pays no income tax, receives notice, wins case in ITAT Delhi
Read more at:https://economictimes.indiatimes.com/wealth/tax/man-earns-rs-75-lakh-by-redeveloping-property-inherited-from-mother-pays-no-income-tax-receives-notice-wins-case-in-itat-delhi/articleshow/134933428.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/man-earns-rs-75-lakh-by-redeveloping-property-inherited-from-mother-pays-no-income-tax-receives-notice-wins-case-in-itat-delhi/articleshow/134933428.cms Mr Jain from Vasant Vihar, Delhi, had inherited his late mother’s 400 square yards of leasehold land in 1997. Being her
*****Homeowner sold redeveloped flat for Rs 1.95 crore, paid no income tax, received a tax notice; wins relief in ITAT Mumbai
Read more at:https://economictimes.indiatimes.com/wealth/tax/homeowner-sold-redeveloped-flat-for-rs-1-95-crore-paid-no-income-tax-received-a-tax-notice-wins-relief-in-itat-mumbai/articleshow/134962377.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mr Furia and his wife lived in a 510 square feet flat in a housing society in Chunabhatti, Sion, Mumbai, which he
*****How much gold and silver jewellery can you have in your home without getting into trouble with the Income Tax authorities?
Read more at:https://economictimes.indiatimes.com/wealth/tax/how-much-gold-and-silver-jewellery-can-you-have-in-your-home-without-getting-into-trouble-with-the-income-tax-authorities/articleshow/134915513.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Recently, there was a case in the ITAT Mumbai where the Income Tax Department conducted a search operation in a lady’s residential
*****Mere Filing of Reply Does Not Satisfy Personal Hearing Requirement u/s 148A When Hearing is Specifically Sought: Rajasthan HC
https://www.taxscan.in/income-tax/mere-filing-of-reply-does-not-satisfy-personal-hearing-requirement-us-148a-when-hearing-is-specifically-sought-rajasthan-hc Assessee who specifically seeks a personal hearing before a Section 148 reassessment decision cannot be denied that opportunity merely because a detailed written reply
*****Amendment made to Repealed Act is Unsustainable: AP HC Declares Section 147A of Income Tax Act Unconstitutional
https://www.taxscan.in/income-tax/amendment-made-to-repealed-act-is-unsustainable-ap-hc-declares-section-147a-of-income-tax-act-unconstitutional-read-judgment In a major ruling, the Andhra Pradesh High Court declared Section 147A of the Income Tax Act, 1961 as unconstitutional, thereby ruling that an
*****Go slow on rate hikes: Make capital accessible and affordable to drive investment and job creation
Read more at:https://economictimes.indiatimes.com/opinion/et-commentary/go-slow-on-rate-hikes-make-capital-accessible-and-affordable-to-drive-investment-and-job-creation/articleshow/134876023.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst We have entered a golden age of Indian entrepreneurship. The number of active companies has risen by more than half a million
*****If penalty is imposed for misreporting of income or other cases you can apply for waiver of penalty using revised Form 161; Check the details
Read more at:https://economictimes.indiatimes.com/wealth/tax/good-news-if-penalty-is-imposed-for-misreporting-of-income-or-other-cases-you-can-apply-for-waiver-of-penalty-using-revised-form-161-check-the-details/articleshow/134834280.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst The Central Board of Direct Taxes (CBDT) on October 8, 2026, has introduced a revised Form 161, using which eligible taxpayers, including
