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The Central Board of Direct Taxes CBDT has extended the deadline for filing Form 10B and 10BB until November 10, 2024. This extension, issued under section 119 of the Income-tax…
The CBIC has issued Notification No. 23/2024, dated October 8, 2024, waiving the late fee for delays in filing FORM GSTR-7 from June 2021 onwards. The waiver applies to registered…
The Income Tax Appellate Tribunal ITAT ruled that income from surplus funds in bank deposits is eligible for deduction under Section 80P 2 a i of the Income Tax Act. The tribunal…
PhonePe has partnered with ICICI Bank to offer a credit line on UPI for select users. This service will allow pre-approved customers to access a credit line of up to INR 2 lakh…
Physics Wallah has selected Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan as investment bankers for its $500 million IPO. The edtech unicorn plans to raise…
BYJU’S is accused of transferring $700,000 from its US affiliates in violation of bankruptcy rules. A lawsuit filed in the federal court of Delaware alleges that the edtech giant…
MSME lender Swara Fincare has raised funds from UC Impower to double its assets under management AUM . The fresh capital will be used to expand Swara Fincare’s lending operations…
Nykaa has launched a pilot program for 10-minute deliveries in Mumbai to compete with the quick commerce sector. This initiative aims to enhance customer satisfaction by offering…
The Hyderabad Bench of the Income Tax Appellate Tribunal ITAT ruled that stock-in-trade sold during the relevant year should be considered for the purpose of computing capital…
The Madras High Court ruled that goods detained during transit should be released provisionally if the assessee demonstrates the inclusion of the transaction in the GSTR-1 return.…
The Mumbai ITAT ruled that additions made under the Income Tax Act have no bearing under the Black Money Act BMA . The case involved an assessee with undisclosed foreign income…
Swiggy has allotted ESOPs worth INR 1,748 crore to its founder, Sriharsha Majety, ahead of its planned IPO. The allocation is part of Swiggy’s strategy to retain key talent and…
LearnTube has raised part of its $2 million seed round from Blitzscaling Ventures and other investors to launch an AI-powered multilingual coach. The new funding will be used to…
Product design startup Figr has secured $2.25 million in funding from Kalaari Capital and other investors. The funds will be used to scale Figr’s operations and enhance its…
Hyundai Motor’s IPO has faced a setback due to concerns over its rich valuation. The grey market premium GMP for the IPO has crashed, reflecting investor apprehensions about the…
Nomura has initiated coverage on three asset management companies AMCs , signaling upside potential of up to 21%. The report highlights the growth prospects of these AMCs, driven…
The Patna High Court ruled that in the absence of an express agreement waiving the applicability of Section 12 5 of the Arbitration and Conciliation Act, the arbitration clause…
The Madras High Court ruled that mere possession of proceeds of crime is sufficient to invoke the Prevention of Money Laundering Act PMLA . The court observed that the definition…
The Bombay High Court ruled that anonymous donations to the Sai Baba Sansthan in Shirdi are not taxable. The case involved a dispute over the taxability of anonymous donations…
India’s stock market has outperformed its emerging market peers amid a correction in crude oil prices, with softer Brent crude acting as a key catalyst for the Nifty index.…
Amazon has partnered with Startup India and the Department for Promotion of Industry and Internal Trade DPIIT to support the growth of startups in India. This collaboration aims…
Bank and NBFC stocks rose by up to 4% following the Reserve Bank of India’s RBI decision to change its policy stance to neutral. The RBI’s move is seen as a response to evolving…
Home loan interest rates in India are now linked to the repo rate, following the Reserve Bank of India’s RBI recent monetary policy announcement. This change means that…
The Indian stock market closed lower as the Sensex and Nifty indices declined, triggered by the Reserve Bank of India’s RBI inflation outlook. The RBI’s cautious stance on…
NBCC India Ltd has secured a ?50 crore contract from the Government of Odisha to build a sports complex. The project involves the construction of a state-of-the-art facility aimed…
Patanjali Foods’ ?1,100 crore acquisition has been approved by the Competition Commission of India CCI . The acquisition involves the purchase of Ruchi Soya Industries, a leading…
India Exim Finserve has partnered with Volofin to provide trade finance solutions for small and medium enterprises SMEs . This collaboration aims to address the financing needs of…
The Reserve Bank of India RBI has announced that micro, small, and medium enterprises MSMEs will be allowed to prepay loans without paying foreclosure penalties. This decision…
Jindal Power Ltd. has decided to abandon its oil venture with Venezuela’s state-owned PDVSA. The venture, which involved operating an oil-processing facility, faced challenges due…
A hacker is reportedly selling the personal data of 31.2 crore Star Health customers, including 5.75 lakh insurance premium records, for $150,000. The data breach has raised…
The Reserve Bank of India RBI has decided to keep the repo rate unchanged and maintain a neutral policy stance. This decision reflects the central bank’s focus on balancing…
Fintech firm Appreciate has announced the first mutual fund transaction on the Open Network for Digital Commerce ONDC platform. This milestone marks a significant step in the…
The National Company Law Appellate Tribunal NCLAT ruled that co-borrowers share equal responsibility under a loan agreement during the Corporate Insolvency Resolution Process CIRP…
The Income Tax Department designated authorities for the Direct Tax Vivad se Vishwas Scheme, 2024. This scheme aims to resolve direct tax disputes by providing a mechanism for…
The CBIC issued a notification implementing GST rate changes as per the recommendations of the GST Council. The notification details the revised GST rates for various goods and…
The National Consumer Disputes Redressal Commission NCDRC cleared Canara Bank of liability for the non-insurance of hypothecated goods. The commission ruled that the bank was not…
The NCDRC ruled that a lack of response does not indicate consent in insurance contracts. The commission emphasized that insurers must obtain explicit consent from policyholders…
The Central Board of Direct Taxes CBDT has extended the deadline for filing Form 10B and 10BB until November 10, 2024. This extension, issued under section 119 of the Income-tax…
The Central Board of Indirect Taxes and Customs CBIC has issued Notification No. 08/2024, introducing amendments to the GST framework effective October 10, 2024. Key changes…
The CBIC has issued Notification No. 09/2024-Central Tax Rate , effective October 10, 2024, mandating that renting commercial properties by unregistered persons to registered…
The CBIC has issued Notification No. 22/2024-Central Tax, dated October 8, 2024, to notify a special procedure for rectifying orders related to wrongful availment of input tax…
The CBIC has issued Notification No. 23/2024, dated October 8, 2024, waiving the late fee for delays in filing FORM GSTR-7 from June 2021 onwards. The waiver applies to registered…
The Hyderabad Bench of the Income Tax Appellate Tribunal ITAT ruled that stock-in-trade sold during the relevant year should be considered for the purpose of computing capital…
The CBIC has issued a notification detailing the procedure for waiving interest and penalties on tax demands under Section 73 of the CGST Act for the financial years 2017-2020.…
The Madras High Court has directed the provisional release of zero-rated export goods seized due to the absence of a GST e-invoice. The court’s order mandates that the release is…
The CBDT has extended the deadline for filing Form 10B and 10BB audit reports until November 10, 2024. This extension, issued under section 119 of the Income-tax Act, 1961,…
The CBIC has issued Notification No. 09/2024-Central Tax Rate , effective October 10, 2024, mandating that renting commercial properties by unregistered persons to registered…
The CBIC has issued a notification exempting GST for research and development R&D services supplied by government entities and educational institutions, effective October 10,…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has directed the adjudicating authority AA to reconsider the classification dispute regarding services received by…
The Authority for Advance Ruling AAR in West Bengal ruled that the developer of the Yatri Sathi app is not liable for GST on cab services provided by drivers using the app. The…
The Central Board of Direct Taxes CBDT has extended the deadline for filing Form 10B and 10BB until November 10, 2024. This extension, issued under section 119 of the Income-tax…
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