Income Tax: New tax regime continues to allow these deductions and exemptions Navigating the New Tax Regime: Opportunities for Deductions and Exemptions As businesses and individuals transition to the New Tax Regime (NTR), understanding the nuances of permissible deductions and exemptions becomes crucial. Although many traditional tax-saving instruments such as PPF, ELSS, KVP, and NSC have been phased out, this new landscape still offers valuable opportunities for strategic tax planning. Key Deductions and Exemptions Still […]

FAQs on Requirement of Prior Approval by NBFC for Change in Management The Reserve Bank of India (RBI), through its Master Directions for Non-Banking Financial Companies (NBFCs), mandates obtaining prior written permission for any change in management resulting in more than 30% change in the directors, excluding independent directors (IDs). Key Guidelines by RBI 1. Threshold Calculation for 30% Change in Management Methodology: % change = (New Directors to be appointed / Existing number of […]

GSTN Issued Advisory and Process of Filing of Form GST SLP-02 for Claiming Waiver Under Section 128A Advisory on Filing Form GST SLP-02 for Waiver Under Section 128A As recommended by the GST Council at its 53rd meeting, Section 128A of the CGST Act was introduced to offer relief to taxpayers from interest or penalties related to notices issued under section 73 of the CGST Act for the financial years 2017-18, 2018-19, and 2019-20. To […]

Is the fintech sector in India under a regulatory siege?   Is the Fintech Sector in India Under a Regulatory Siege? The fintech sector in India has seen explosive growth over the past decade, becoming one of the most dynamic and innovative fields in the nation’s economy. With a burgeoning number of startups and large-scale investments pouring in, fintech companies in India have revolutionized how financial services are delivered. However, with rapid growth often comes […]

NPCI moving to give netbanking a UPI-like makeover NPCI Moving to Give Netbanking a UPI-like Makeover The National Payments Corporation of India (NPCI) has been at the forefront of revolutionizing digital payments in India. After the monumental success of the Unified Payments Interface (UPI), NPCI is now eyeing the next big transformation—giving netbanking a UPI-like makeover. This blog explores this strategic move, focusing on key points that promise to redefine the way we look at […]