The India SME Forum has urged the government to allocate Rs 5,000 crore in the upcoming Budget for the development, promotion, and global marketing of MSMEs. The forum seeks to…
04/07/20241 min read
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The India SME Forum has urged the government to allocate Rs 5,000 crore in the upcoming Budget for the development, promotion, and global marketing of MSMEs. The forum seeks to…
On July 1, 2024, the ED Gurugram arrested Rakesh Kumar Gulati, Paramjeet, and Ajay Yadav under the PMLA, 2002, in a case involving M/s Sunstar Overseas Ltd. The accused are in ED…
On May 3, 2024, the ED Lucknow Zonal office filed a Prosecution Complaint against Sudhir Kumar Goyal and his wife, Smt. Rakhi Goyal, for money laundering under the PMLA, 2002,…
The Directorate of Enforcement ED in Ranchi secured a conviction on June 26, 2024, in a case involving M/s Kalawati Construction Pvt Ltd and Vijay Kumar Tiwari for submitting fake…
The Directorate of Enforcement ED in Jalandhar has attached assets worth ₹71.13 lakh belonging to Raman Kumar and his family in a case of criminal conspiracy and forgery related…
Unacademy CEO Gaurav Munjal dismissed rumors of a possible merger or acquisition, stating the company is experiencing its best year in terms of growth and profitability. Following…
Koo, the Indian microblogging platform once seen as a rival to X formerly Twitter , has shut down due to failed partnership talks and high operational costs, founder Aprameya…
Indian labour officials visited a Foxconn factory near Chennai this week to investigate claims of discrimination against married women in iPhone assembly jobs, following a Reuters…
Pillar Two of the OECD’s Inclusive Framework on Base Erosion and Profit Shifting aims to ensure that large multinational enterprises MNEs pay a minimum 15% tax rate globally. It…
Bengaluru-based private hospital chain Narayana Health plans to launch a new, more comprehensive insurance plan by the end of this month or early next month, according to Viren…
On July 3, the National Company Law Tribunal NCLT in Bengaluru reserved judgment on insolvency pleas filed by mobile phone maker Oppo and telemarketing company Surfer against…
In the forthcoming Budget 2024-25, the Indian government is considering tax relief measures for individuals. One option is increasing the exemption limit under the new tax regime…
The Income Tax Department has updated the Annual Information Statement AIS for individuals, focusing on transparent reporting of foreign exchange transactions. Banks must now…
CBIC Chairman Sanjay Kumar Agarwal announced that decisions from the GST Council’s 53rd meeting, including an amnesty scheme for early GST issues and a sunset date for…
High-net-worth individuals HNIs in India are increasingly opting for high-value term insurance policies, often worth Rs 20 crore or more, indicating a shift in financial planning…
In light of the new directive, Authorised Dealers must now obtain Form A2 for all cross-border remittances, regardless of the transaction value, replacing previous guidelines…
Delhi’s Rouse Avenue Court extended Chief Minister Arvind Kejriwal’s judicial custody until July 12 in the Delhi liquor excise policy money laundering case and will decide on July…
The newly enacted Bharatiya Nyaya Sanhita BNS , effective from July 1, 2024, replaces the Indian Penal Code and introduces several key changes to sexual offences. The BNS makes…
Prime Minister Narendra Modi called the three new criminal laws a “watershed moment” in Indian history, aiming to protect the vulnerable and curb serious crimes. Union Home…
Jasti Chelameswar, former Supreme Court judge, criticized the new criminal laws, effective from July 1, as superficial changes to existing laws. He questioned the feasibility of…
N. Venu, Chairman of CII Karnataka and MD & CEO of Hitachi Energy India & South Asia, emphasized CII Karnataka's focus on growth, sustainability, inclusiveness, and global…
Indiabulls Housing Finance has officially rebranded as ‘Sammaan Capital Limited’ after receiving the necessary approvals. Announced initially in May 2023 and January 2024, the…
Indian banks reported significant earnings growth in FY24, with net profit of all listed banks rising 39% YoY to surpass ₹3 lakh crore. However, Q1 FY25 is expected to be softer,…
Mid-sized and smaller private sector lenders reported robust loan growth in Q1 FY25, though low-cost deposits declined. Federal Bank saw a 20.1% year-on-year increase in gross…
HDFC Bank will conduct maintenance on July 13, affecting UPI, net banking, and mobile banking services. UPI services will be unavailable from 3 a.m. to 3:45 a.m. and 9:30 a.m. to…
The CBIC has issued a clarification regarding GST liability and Input Tax Credit ITC applicability on warranty and extended warranty services. The circular emphasizes that…
In a recent decision, the CESTAT held that service tax paid to a foreign service provider cannot be considered as TDS under Indian tax laws. The case involved a dispute where the…
The Delhi High Court ruled that reasons for rejection of names by the Supreme Court Collegium cannot be published under the RTI Act, as disclosure could harm the independence of…
The Andhra Pradesh High Court has ordered the demolition of YSRCP party offices constructed illegally on public safety zones, citing environmental concerns and non-compliance with…
The Andhra Pradesh High Court has directed the state government to prevent livestock slaughtering in public places, emphasizing the need for appropriate facilities. The court's…
The Andhra Pradesh High Court has directed the state government to prevent livestock slaughtering in public places, emphasizing the need for appropriate facilities. The court's…
The CBIC has issued a clarification regarding the time of supply for GST payment related to spectrum allocation services. According to the circular, the time of supply will be…
Standalone health insurer Star Health and Allied Insurance aims to double its Gross Written Premium to ₹30,000 crore over the next four years, from ₹15,254 crore in FY24, said…
The Finance Ministry has increased the windfall tax on petroleum crude from Rs. 3,250 to Rs. 6,000 per tonne, effective July 2, 2024. This move follows the previous notification…
The Income Tax Department has updated the list of banks for the e-Pay Tax service on the e-Filing portal, enabling taxpayers to pay taxes online seamlessly. This service supports…
Standalone health insurer Star Health and Allied Insurance aims to double its Gross Written Premium to ₹30,000 crore over the next four years, from ₹15,254 crore in FY24, said…
In light of the new directive, Authorised Dealers must now obtain Form A2 for all cross-border remittances, regardless of the transaction value, replacing previous guidelines…
The Madras High Court has set aside a GST demand order due to a mismatch between GSTR-3B returns and GSTR-2A forms. The petitioner challenged both the initial assessment and the…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT , Delhi Bench, ruled that service tax is not payable on trade discounts received by automobile dealers from…
The Allahabad Bench of the Customs, Excise, and Service Tax Appellate Tribunal CESTAT quashed the service tax demand on PVS Multiplex India Pvt. Ltd. The tribunal ruled that…
The Telangana High Court declined to quash a case involving allegations that a senior advocate tried to bribe judges with ₹7 crore. The court observed that the serious nature of…
A recent PwC India report reveals that family offices in India are evolving from traditional wealth preservation units to dynamic, impactful investors. With over 300 family…
OYO has raised ₹417 crore $50 million from Incred at a valuation of ₹19,756 crore $2.38 billion , significantly lower than its $10 billion peak valuation. This funding is part of…
PV Sindhu will join D2C health startup Hoop as a strategic investor and brand ambassador. Launched in October 2023, Hoop offers magnesium, eucalyptus, and lavender-infused…
New Delhi: ACME Solar Holdings has filed for a ₹3,000 crore IPO to fund aggressive green energy expansion, including new solar and wind projects. The draft red herring prospectus…
On July 1, SEBI introduced a uniform fee structure for stock exchanges, affecting brokers like Zerodha, which might end its zero brokerage model. Zerodha co-founder Nithin Kamath…
On July 1, 2024, US-based short-seller Hindenburg Research received a show cause notice from SEBI accusing it of short selling Adani Enterprises stock based on non-public…
SEBI has updated Chapter V of the Master Circular on the issuance and listing of debt securities and non-convertible redeemable preference shares, effective May 22, 2024. The…
On Wednesday, RBI Governor Shaktikanta Das urged select public and private sector banks to strengthen efforts against mule accounts and digital frauds. In a meeting with bank…
On Wednesday, RBI Governor Shaktikanta Das met with MDs and CEOs of public and private sector banks to discuss strengthening governance, risk management, and compliance. He…
The India SME Forum has urged the government to allocate Rs 5,000 crore in the upcoming Budget for the development, promotion, and global marketing of MSMEs. The forum seeks to…
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