CBDT Releases ITR Forms for 2024-25 Assessment
The Central Board of Direct Taxes (CBDT) has notified the Income Tax Return (ITR) forms for the assessment year 2024-25. The ITR forms are used by taxpayers to file their tax returns online. The CBDT has released ITR forms 2, 3, 5 and 6 for different categories of taxpayers. Here are the key details about […]
Paysharp Earns SOC 2 Certification as Payment Aggregator
Paysharp, a fintech startup that provides UPI solutions and virtual accounts for B2B and B2C payments, has achieved SOC 2 certification, a standard for security and compliance in the payment industry. SOC 2 is an auditing procedure that ensures that service providers securely manage data to protect the interests and privacy of their clients. SOC […]
UPI Payments Now Accepted for Eiffel Tower Visits
Indian tourists visiting the iconic Eiffel Tower in Paris can now buy tickets via Unified Payments Interface (UPI) mechanism, a payment service that simplifies the transaction process. This is the result of a partnership between NPCI International Payments Limited (NIPL) and Lyra, a leading French expert in e-commerce and proximity payments. What is UPI and […]
RBI Cautions Against Sharing KYC Docs with Unknown Entities
The Reserve Bank of India (RBI) has issued a warning to the public against frauds in the name of KYC updation and advised not to share documents with unknown entities . According to the RBI, some customers have received unsolicited communications, including phone calls/SMS/emails, through which they are manipulated into revealing personal information, account/login details, […]
₹7.87 Lakh Paid to Sebi in AIF Rule Violation Settlement
Alternative Investment Funds (AIFs) are funds that invest in alternative assets such as private equity, venture capital, hedge funds, real estate, infrastructure, etc. AIFs are regulated by the Securities and Exchange Board of India (Sebi) under the Sebi (Alternative Investment Funds) Regulations, 2012. One of the key regulations for AIFs is the concentration limit, which […]
Ayushman Bharat to Cover ASHA, Anganwadi Workers: FM
In a major announcement in the interim budget 2024, Finance Minister Nirmala Sitharaman said that the Ayushman Bharat scheme, which provides health insurance to the poor and vulnerable, will be extended to all ASHA and Anganwadi workers and helpers. This will benefit about 30 lakh frontline health workers who are involved in delivering essential services […]
CESTAT Dismisses ₹387 Cr Demand: A Relief for SBI Life
SBI Life Insurance, one of the leading life insurers in India, has got a relief from the Customs Excise & Service Tax Appellate Tribunal (CESTAT) in a tax dispute case involving ₹387 crore. The Mumbai Bench of CESTAT has set aside the revenue department’s demand of ₹387 crore from SBI Life Insurance for alleged service […]
GST Intelligence’s First Digital Forensic Lab in Gujarat
The Directorate General of GST Intelligence (DGGI) is the apex intelligence and investigative agency for matters relating to violation of the Goods and Services Tax (GST). The DGGI has been detecting tax frauds to the tune of more than Rs. 1 lakh crore during the financial year 2022-23 and recovering more than Rs. 20 thousand […]
Paytm and Third-Party Banks: A Financial Services Expansion
Paytm Payments Bank Limited (PPBL), an associate of OCL (One 97 Communications Limited), has received RBI directions under section 35A of the Banking Regulation Act, 1949. The company has announced that it will expand its existing relationships with leading third-party banks to distribute payments and financial services products. RBI directions and user deposits According to […]
Global Business Centre of Japan’s Third Largest Financial Group in Chennai
Mizuho Financial Group, Japan’s third largest financial services company, has launched its Global Business Center in Chennai, Tamil Nadu, to boost its IT and banking operations. The center, which currently employs 250 staff members, is planned to expand to 1,000 employees by 2025. Why Chennai? Chennai is one of the leading destinations for global conglomerates […]