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Income-Tax Department detects ₹700 crore in fraudulent exemption claims

The Income-Tax Department has uncovered fraudulent exemption claims amounting to approximately ₹700 crore, prompting enhanced risk assessment in return processing. This has led to slower refund issuance, particularly for claims exceeding ₹10 lakh. Taxpayers are being notified to revise returns,…

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India’s sovereign rating upgraded to BBB+ by Japan’s Rating & Investment Information

India’s long-term sovereign credit rating has been upgraded by Japan’s Rating and Investment Information, Inc. (R&I) from ‘BBB’ to ‘BBB+’, while the Outlook remains Stable, the Government of India announced today.

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GST evasion racket busted in Chhattisgarh; 170 firms exposed, cash and gold seized

The Chhattisgarh SGST department has exposed a significant GST evasion scheme orchestrated by GST consultant Mohmmad Farhan Sorathia, involving over 170 fictitious firms. These firms generated fake registrations and e-way bills, causing substantial losses to the state treasury, estimated at…

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Sebi simplifies process of transferring securities from nominee to legal heir

To simplify securities transfer to legal heirs, SEBI introduces the ‘TLH’ reporting code, effective January 1, 2026. This standard code ensures transmissions from nominee to legal heir are correctly reported to the CBDT and not incorrectly taxed as capital gains.…

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Nearly Rs 2 lakh cr will be in people’s hand due to GST reforms: FM Sitharaman

Union Finance Minister Nirmala Sitharaman announced that upcoming GST reforms, effective September 22, will inject ₹2 lakh crore into the economy, boosting domestic consumption. These reforms, simplifying the GST structure, aim to benefit the poor, middle class, and MSMEs, aligning…

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GST rate cut impact on exchequer likely minimal, to boost consumption and widen tax base: Crisil

The rationalisation is expected to reduce the prices of a large number of products and services. Crisil observed that moving from four slabs to two could expand the formal tax net and support buoyancy in collections over the medium term.

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Gold, silver prices today, 19 October: Check retail rates of 24K, 22K gold, 999 silver in Delhi, Mumbai and Kolkata
Gold and silver prices today, 19 October: Check the latest 24K, 22K gold and 999 silver retail rates across Delhi, Mumbai, Kolkata and other major Indian cities, along with MCX market updates.
What is a ‘boss scam’? 5 ways to protect yourself from CEO fraud
A Chennai firm allegedly lost ₹1.90 crore after a WhatsApp message posing as its managing director, leading to a Delhi arrest. Here’s how the ‘boss scam’ works, the warning signs of CEO impersonation fraud, and five steps to verify payment requests and report cyber fraud on helpline 1930.
8th Pay Commission: What is dearness relief and how is it different from DA? Expert explains
As the 8th Pay Commission meets in Mumbai on 22-23 October, here’s how dearness allowance (DA) differs from dearness relief (DR), what unions are demanding, and what central government employees and pensioners can realistically expect before the final report due by May-June 2027.
Got refund for online shopping after cancelling order but your credit card bill still shows due amount? Should you pay?
Credit card refunds usually return to the card account, reducing the balance or restoring available credit, and may take 5–14 days to appear. Here's what to do if your billing date is near but the refund has not been credited yet.
How should you withdraw money after early retirement? Expert explains the 3-bucket strategy for your FIRE corpus
The three-bucket strategy can help people achieving financial independence and early retirement (FIRE) manage expenses and market volatility. It divides investments into liquid savings for immediate needs, a balanced portfolio for medium-term expenses and equity for long-term growth.
₹3,000 pension won't block parents' medical reimbursement for Haryana govt employees, High Court rules
The Punjab and Haryana High Court has ruled that Haryana government employees cannot be denied medical reimbursement for dependent parents solely because they receive a ₹3,000 monthly old-age pension, directing authorities to release admissible claims within two months.
NRI's ₹3.41 crore FCNR deposits flagged as unexplained money after tax officer mistook yen for rupees, ITAT gives relief
An NRI won relief from a ₹3.41 crore income tax addition after ITAT Jaipur found that the assessing officer had mistaken Japanese yen figures for rupees. Bank records established the source of her FCNR deposits, prompting deletion of the addition.
Want to retire early? How to split ₹1 lakh in monthly investments between short-term goals and FIRE, expert explains
Early retirement requires balancing short-term financial goals with long-term wealth creation. Expert explains how to allocate ₹70,000 or ₹1 lakh in monthly investments towards FIRE, account for inflation and choose an appropriate equity-debt mix to build a retirement corpus.
FD maturity mistake: Fixed deposit matured but you forgot to withdraw money? What happens to your amount? Renew or not?
When a fixed deposit matures, its payout depends on the depositor’s instructions and the bank’s rules. Here are your options and whether you should renew or not.
Best-performing SIFs: Quant leads hybrid long-short funds with 25.5% returns in 6 months; check how peers performed
Quant Mutual Fund’s QSIF Hybrid Long-Short Fund returned 25.5% in six months, ahead of Aditya Birla Sun Life Mutual Fund’s Apex at 6.78%. QSIF also led over three months and since inception.