The Association of Mutual Funds of India (AMFI) on Friday welcomed the decision of global financial major JP Morgan to include government bonds in its benchmark Emerging Market Index from next year, saying it will result in more demand for government securities. It will help bring over USD 30 billion...

An individual can file an updated income tax return or ITR-U (or updated ITR) to correct any mistakes, under-reporting or misreporting of income in their original income tax return. ITR-U can also be filed by someone who was required to file ITR as per law but did not do so...

Jeena & Company has taken a step towards enhancing its operations and customer service by integrating artificial intelligence (AI) into its processes. The company has integrated its Customs House Agent (CHA) software with an AI solution. One of the achievements of this AI integration is the introduction of “Single Click...

New Delhi: Banks can request for opening of look-out circulars (LOCs) against defaulters only in exceptional circumstances when questions affecting the country’s economy are involved and the authority concerned must satisfy itself before such circulars are issued, the Delhi High Court ruled on Friday. Expressing displeasure over banks insisting on...

Washington: The Federal Reserve left its key interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. But Fed officials also signalled that they expect to raise rates once more this year. The...

An income tax audit is a thorough inspection of the books of accounts of a business entity or professional individual like doctors, lawyers, chartered accountants (CA) etc. An income tax audit has to be mandatorily conducted by certain taxpayers having business or professional income above a specified threshold. The Income...

Apple this year celebrated 25 years of the products being available in India by opening its first-ever store in the country. But long before the inception of the store, a little-known logistics player has been working behind the scenes to make varied Apple products available to India customers. In fact,...

Even as an independent director of Dhanlaxmi Bank was planning a dramatic exit from the board of the Kerala-based lender, another story was unfolding. The bank’s largest shareholder had initiated a special resolution to remove the same director from the board a few days before he raised strong accusations against...

Motilal Oswal Mutual Fund has launched Motilal Oswal Developed Market Ex US ETFs Fund of Funds, an open-ended fund of funds scheme investing in units of Global ETFs which track the performance of developed markets excluding US. The new fund offer or NFO of the scheme is open for subscription...

Once an income tax audit is completed, an individual should check certain things. This is to ensure that the income tax auditor has not made any mistakes while submitting the audit report. If there is a mistake in the audit report, then an individual will be first required to prove...

The Account Aggregator framework was expected to be a watershed moment, not unlike UPI, for financial services. So far, its enormous impact has been evident in consumer lending, but with the inclusion of Goods and Services Tax Network (GSTN) on the Account Aggregator framework, credit access to micro, small and...

Section 44AB Audit of accounts of certain persons carrying on business or profession of Income Tax Act, 1961-Every person,— a) carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds one crore rupees in any previous year: [Provided...