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RBI Amends FEMA Regulations to allow Exporters to Hold Foreign Currency Accounts in IFSCs [Read Notification]

RBI Amends FEMA Regulations to allow Exporters to Hold Foreign Currency Accounts in IFSCs [Read...

Avinash Kurungot
RBI Enables Retail Access to FX-Retail Platform via Bharat Connect: Pilot Launched with Axis, SBI, ICICI, Federal & Yes Bank [Read Press Release]

RBI Enables Retail Access to FX-Retail Platform via Bharat Connect: Pilot Launched with Axis, SBI,...

Avinash Kurungot
Foreign Currency Derivative Losses Allowed as Business Expenditure: ITAT quashes Revisionary Income Tax Order [Read Order]

Foreign Currency Derivative Losses Allowed as Business Expenditure: ITAT quashes Revisionary Income...

Advika Dwivedi
RBI Permits Standalone Primary Dealers to Participate in Non-Deliverable Rupee Derivative Markets [Read Circular]

RBI Permits Standalone Primary Dealers to Participate in Non-Deliverable Rupee Derivative Markets...

Kavi Priya

NFRA Issues Notices to IndusInd Bank Auditors Over Suspected Accounting Irregularities

The National Financial Reporting Authority (NFRA) has issued notices to both current and former auditors of IndusInd Bank. This action comes amid ongoing concerns over suspected accounting...

NFRA Issues Notices to IndusInd Bank Auditors Over Suspected Accounting Irregularities
Kavi Priya

Know Your Currency: In-Depth Look at the ₹50 Note

August 2017, the Reserve Bank of India (RBI) unveiled the new ₹50 banknote as part of the Mahatma Gandhi (New) Series. Vibrant in its fluorescent blue hue and featuring intricate security and...

Know Your Currency: In-Depth Look at the ₹50 Note
Adwaid M S

Service Tax under RCM not Leviable on Bank Charges Paid to Foreign Banks: CESTAT [Read Order]

The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that bank charges paid to foreign banks are not liable to service tax under the reverse charge...

Service Tax under RCM not Leviable on Bank Charges Paid to Foreign Banks: CESTAT [Read Order]
Yogitha S Yogesh

Finance Ministry Revises Customs Tariff Values for Palm Oil, Soya Bean Oil, Gold and Silver, and Areca Nuts [Read Notification]

The Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance issued Notification No. 13/2025-Customs (N.T.), dated March 13, 2025, updating the tariff values for imported...

Finance Ministry - Revised Customs Tariff Values - Customs Tariff Values for Palm Oil - TAXSCAN
Kavi Priya

ITAT Directs TPO to apply LIBOR Rate for Interest on Foreign Currency Receivables [Read Order]

In a recent ruling, the Bengaluru bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Transfer Pricing Officer ( TPO ) to apply the LIBOR rate for calculating interest on foreign...

ITAT Directs TPO to apply LIBOR Rate for Interest on Foreign Currency Receivables [Read Order]
Saagarika Gopinath

Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that once cash withdrawals were proven, the burden shifts to the Income Tax Department to Disprove these funds were not available...

Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]
Kavi Priya

Delhi HC upholds Customs Compounding Fees as Reasonable, Citing Small Fraction of Seized Currency [Read Order]

In the recent ruling the Delhi High Court,upheld the customs compounding fees imposed on the petitioners, finding them reasonable as they constituted a small fraction of the seized currency. ...

Delhi High Court - customs compounding fees - seized currency - Customs act - Compounding Charges - taxscan
Sneha Sukumaran Mullakkal

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