RBI hikes UPI Lite Transaction Limit to ₹1000 from ₹500
The Reserve Bank of India ( RBI ) has hiked the transaction limits of UPI Lite from ₹500 to ₹1000/-, while announcing an increase in the transaction...
DGFT extends Interest Equalisation Scheme for Pre and Post shipment Rupee Export Credit for 3 months beyond 30th September, 2024 [Read Notice]
The Directorate General of Foreign Trade (DGFT), vide Trade Notice no. 18/2024-25 dated 30th September has extended the Interest Equalisation Scheme for Pre and Post Shipment Rupee Export Credit for...
Failure to Meet Rs. 200 Lakh Net Owned Fund Mandate within Deadline: Delhi HC sets aside Cancellation of NBFC Registration [Read Order]
The Delhi High Court in a recent decision set aside an Order passed by the Reserve Bank of India ( RBI ) cancelling the Certificate of Registration of a Non-Banking Financial Company on account of...
S.68 of Income Tax Act not Attracted on Violation of RBI Notifications if Nature of Cash Deposit Adequately Explained: ITAT [Read Order]
The Ahmedabad “A” bench of the Income Tax Appellate Tribunal ( ITAT ) in a recent case held that additions under section 68 of the Income Tax Act 1961 ( ITA ) are not to be attracted upon violation...
![S.68 of Income Tax Act not Attracted on Violation of RBI Notifications if Nature of Cash Deposit Adequately Explained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-Income-Tax-Act-ITAT-RBI-Notifications-RBI-cash-deposit-case-TAXSCAN.jpeg "S.68 of Income Tax Act not Attracted on Violation of RBI Notifications if Nature of Cash Deposit Adequately Explained: ITAT [Read Order]")
Ministry of Finance inserts White Label ATM Operations and Conditions to FEM (Non-debt Instruments) Rules [Read Notification]
The Ministry of Finance has inserted a new provision for White Label ATM Operations and its conditions to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019. This amendment, known...
