Page 49 - Finance News

CBDT extends due date for FY25 tax audit report filing to October 31

The development comes a day after the Rajasthan High Court's Jodhpur bench passed an interim order directing the CBDT to extend the last date for filing tax audit reports to October 31

Digital payments jump to ₹11 trillion on first day of new GST rates

Digital payments surged to ₹11 trillion on the first day of new GST rates, with RTGS, UPI, NEFT, IMPS, debit and credit card transactions all seeing sharp increases

Hidden data abroad? Corporate law now lets tax officers access it fully

Under the new Income Tax Act 2025, tax officers get wider powers from April 2026, allowing them to question anyone with access to records during searches

RBI renews Statement of Commitment to FX Global Code for FX markets

The Reserve Bank of India has renewed its Statement of Commitment to the FX Global Code, reaffirming adherence to principles promoting integrity in foreign exchange markets

Outward remittances under LRS fell 11% to $2.45 billion in July: RBI

According to the latest RBI data, the amount remitted under LRS was down from $2.75 billion recorded in July 2024

GSTAT launch: One forum for state, Centre GST appeals, says FM Sitharaman

Sub heading: 4.8 lakh pending appeals to be heard, says GSTAT Head Mishra

'New to credit' loan share dips to 16% in Q1 as lenders turn cautious

Only 16% of loan originations in the April-June period were classified as NTC, as against 18% in the year-ago period and 20% in 2023, according to the report by Transunion Cibil

Most states bunch up expenditure in March, CAG warns of fiscal risks

CAG warns most Indian states of fiscal imprudence as March spending overshoots limits, with key departments exhausting large portions of budgets in the last month of FY24

RBI expected to keep key interest rate at 5.50% through 2025, finds poll

The Monetary Policy Committee, which unanimously decided to hold rates in August, will maintain that call at its September 29-October 1 meeting

Lenders tilt towards collateral-backed lending: TransUnion report

Shift towards collateral-backed lending signals risk-conscious credit growth

Chhattisgarh bags ₹3.1k cr investment proposals in health & tourism sectors

The state received investment proposals worth Rs 3,119.07 crore, including Rs 2,466.77 crore in healthcare and Rs 652.3 crore in hotel and tourism sectors

Rupee holds steady as RBI intervenes to curb pressure from US risks

The rupee closed at 88.69 against the US dollar, a whiskey away from its all-time low of 88.7975 hit on Tuesday

GST invoices getting smarter from October: Here's what you need to know

According to a recent advisory issued by the GSTN, the changes are aimed at reducing disputes, lowering the compliance burden, and increasing transparency in the return filing process

IBC cases piling up largely due to lack of NCLT Benches, DFS tells MCA

With nearly 15,000 cases pending, the shortage of NCLT benches has raised concerns over prolonged insolvency processes, asset erosion, and delayed resolutions under the IBC framework

RBI pushes for return of unclaimed bank deposits over next 3 months

Balances in savings or current accounts that have not been operated for 10 years, or term deposits not claimed within 10 years from the date of maturity, are classified as 'unclaimed deposits'

Tax clarity for govt staff, DFS releases FAQs on Unified Pension Scheme

The FAQs confirm that the tax incentives applicable to the National Pension System will also extend to UPS, providing certainty to government employees under the new framework

FACE membership grows fourfold to 275 a year after SRO recognition

The association marked its one year of recognition by the Reserve Bank of India (RBI) last month

Adani Group plans leverage cut, sees no dollar bond issue until 2027

The group's next foreign currency bond sale will likely be a dollar bond, said group Chief Financial Officer Jugeshinder Singh

India's borrowing plan for FY26 second half unchanged, says CEA Nageswaran

India plans to borrow 14.82 trillion rupees for the current financial year ending March 31, of which it is scheduled to borrow 6.8 trillion rupees in October-March

Another 25 bps rate reduction best possible option for RBI: SBI study

The Reserve Bank of India (RBI) has already reduced the repo rate by 100 basis points since February