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RBI Notification

How RBI’s new tokenisation rule will effect credit/de...

How RBI’s new tokenisation rule will effect credit/debit card payments?

The Reserve Bank of India (RBI) via notification has come out with a new rule of tokenisation which will make online payments safer and secure. RBI has man...

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RBI Notification

RBI allows Payments Banks and Small Finance Banks to un...

RBI allows Payments Banks and Small Finance Banks to undertake government agency business

The Reserve Bank of India (RBI) via notification has allowed Scheduled Payments Banks and Scheduled Small Finance Banks to become agents of the RBI who wis...

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Finance

A summary of Difference between Privatisation and Disin...

A summary of Difference between Privatisation and Disinvestment

Both Privatization and disinvestment refer to the process wherein the government sells a portion of its stock to the private sector to reduce wasteful spen...

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Income Tax

Assessing Officer cannot ignore the Valuation Report an...

Assessing Officer cannot ignore the Valuation Report and adopt a new method of valuation

In the case of M/s. Innoviti Payment Solutions Private Ltd. Versus ITO (ITAT Bangalore), the assessee filed an appeal against the order of the Assessing Of...

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Finance

Privatisation of Banks: A Brief Overview

Privatisation of Banks: A Brief Overview

The government has decided to make a few amendments in the Banking Laws (Amendment) Bill, 2021 which aims to privatise two public sector banks. The banks w...

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Income Tax

Additions under Section 68 can’t be made based on mer...

Additions under Section 68 can’t be made based on mere suspicion

In the case of Smt. Tapasi Singh Vs ITO (ITAT Kolkata), the assessee provided new capital, which was explained as a gift. She provided tax information for...

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Finance & Accounting

Upcoming Future of Financial Services: An Overview

Upcoming Future of Financial Services

The pandemic accelerated the process of digitization and digital engagement of the financial services which was already gaining its ground at a gradual pac...

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GST

Whether GST applicable on contributions from members to...

Whether GST applicable on contributions from members towards meeting and administrative expenses?

In the case of M/S. Rotary Club of Mumbai Elegant [Advance Ruling Number. GST-ARA-26/2020-21/B-108 dated 9th December 2021], the Honourable AAR, Maharashtr...

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