Effective April 1, 2025, new income tax regulations have been introduced following the enactment of the Finance Act 2025. One of the significant changes is the increased income limit for individuals opting for the new Income Tax regime to avail rebates under Section 87A. The threshold has been raised from Rs 7 lakh to Rs … Read more
SEBI chief Tuhin Kanta Pandey on Saturday signalled that taxation policies for the capital market are unlikely to be changed while underlining that there is certainty on taxation at present. “If some certainties have already come in terms of taxation, let’s not unsettle it. I think the point is we have to live with what the … Read more
Over a fifth of CISOs have been pressured not to report a compliance issue, according to new research. As they take on greater responsibility in the boardroom, they also face increasing accountability for security incidents, making them more vulnerable to executive pressure when compliance risks arise. The report, published by data management platform Splunk, also … Read more
Starting February 1, 2024, UPI payment apps will be prohibited from using special characters to create transaction IDs. Transactions made through UPI apps that incorporate special characters in the transaction ID will be rejected by the central system. The National Payments Corporation of India (NPCI) has issued a statement regarding the impact of Unified Payments … Read more
European politicians and advocacy groups are adamant that the region’s legislation is not hardline enough to dismantle the monopolies of Big Tech companies. In the last week, two open letters have been penned to regulators criticising how Apple and Google remain unchecked. On Jan. 16, four digital rights groups responded to the measures proposed by … Read more
The Employee Provident Fund Organisation (EPFO) emphasizes the importance of linking your bank account to your Universal Account Number (UAN) for quick access to your EPF balance, seamless transfers, and easy withdrawals. Ensuring that your UAN is seeded with your bank account is vital for the effective management of Employees’ Provident Fund (EPF) contributions and … Read more
The Securities and Exchange Board of India (SEBI) has recently launched the Mutual Funds Lite (MF Lite) framework to streamline compliance for entities launching passively managed mutual fund schemes. This initiative aims to enhance investment diversification and facilitate the entry of new players into the mutual fund industry. What is Mutual Fund Lite? Mutual Fund … Read more
The Bombay High Court has instructed the Central Board of Direct Taxes (CBDT) to issue a notification extending the deadline for revised and belated Income Tax Return (ITR) filings until January 15, 2025. This extension applies only to taxpayers eligible for claiming the section 87A tax rebate. This is in response to a Public Interest … Read more
To enhance ease of compliance, Sebi on Monday proposed broadening its guidelines on shared contact details by allowing non-individual clients, such as HUFs, partnerships, trusts, and corporates, to use the same mobile number or email address under exceptional circumstances. Currently, this exception applies only to individual clients within a family. “Under exceptional circumstances, the stock … Read more
The Securities and Exchange Board of India (Sebi) has proposed to relax registration requirements and cost of compliance for Investment Advisors (IAs) and Research Analysts (RAs) by amending/clarifying the existing regulations. On Tuesday, the market regulator issued a consultation paper, seeking comments from the public to put in place what it said would be a … Read more