RBI repeals its November 2025 directions, replacing them with updated branch authorisation rules, while ensuring prior actions and approvals remain valid and enforceable.
Explains how auto-populated tax paid entries from earlier years distort the short/excess payment figure in Table 9. Highlights the need for clarification and interim reconciliation steps.
CBDT notifies tax exemption for a development authority under Section 10(46A), effective from AY 2024-25. The ruling confirms retrospective benefit with no adverse impact on taxpayers.
RBI mandates direct submission of LRS daily returns by AD Category-II banks and FFMCs from January 1, 2026, enabling real-time tracking of cumulative PAN-wise remittances.
SEBI expands Regulation 30A by introducing new conditions under which intermediaries may be disqualified, including failure to meet net worth, revenue, and business transfer requirements.
SEBI mandates minimum net worth, liquid net worth, and revenue generation for merchant bankers, enhancing financial stability and compliance in capital markets.
SEBI introduces uniform changes across multiple regulations by substituting registered post with speed post, ensuring standardized and faster communication procedures.
New Labour Codes enhance maternity benefits, crèche facilities, and safety provisions while prohibiting gender discrimination, promoting equal pay and fair employment opportunities for women.
New Labour Codes formalize fixed-term employment, flexible work, and social security, empowering IT employers with workforce agility while protecting employees’ rights and benefits.
West Bengal’s ITR filings rose to 52.99 lakh in AY 2024-25, with significant increases in middle- and higher-income brackets. The state contributed 2.89% to national direct taxes.
