The RBI has withdrawn its 2021 circular on grievance redress mechanisms following updated disclosure norms and enhanced ombudsman compensation powers. Banks must still maintain robust grievance systems under existing regulations.
ICAI has partnered with The Art of Living to integrate stress management, value-based education, and wellness initiatives for Chartered Accountants and students. The initiative aims to strengthen ethical values and professional resilience.
With economic offences rising sharply, digital and electronic records have become central to corporate fraud trials. The BSA modernises evidence rules, but investigative and certification challenges continue to test enforcement agencies.
Once the Central Government notified the Faceless Scheme for reassessment (effective March 29, 2022), the JAO was effectively divested of the power to issue notices under Section 148. The issuance of a notice by a JAO instead of the National Faceless Assessment Centre (NFAC) was a jurisdictional error that could not be cured.
PCIT s revision under section 263 against assessee was upheld holding that AO did not properly verify the very low Section 14A disallowance despite huge exempt income and also ignored INSIGHT portal inputs about alleged accommodation entries.
IRDAI has issued updated guidelines for establishing and closing liaison offices in India by overseas insurers. The framework sets eligibility, reporting, and strict operational conditions.
RBI has issued draft amendment directions covering advertising, marketing, DSAs, mis-selling, and dark patterns. The proposals apply to all banks, NBFCs, and financial institutions.
The Finance Ministry highlighted regulatory and enforcement challenges posed by VDAs, including crypto assets. Measures such as 30% taxation and mandatory reporting aim to curb tax evasion and enhance transparency.
The Finance Ministry clarified that December 2025 messages were part of a data-driven NUDGE compliance campaign. Over 1.11 crore revised returns generated significant additional tax revenue.
The government clarified that there is no pending proposal to exclude State-run lotteries from the 40% GST rate. The hike was recommended by the GST Council as part of rate rationalisation.
