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RBI may raise repo rate by 50 bps in monetary policy review this week

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Do all salaried employees need to file ITR?

The last day to file income tax return for financial year 2021-22 was July 31, 2022. This deadline is applicable for taxpayers whose accounts are not required to be audited. However, it may happen that salaried individuals believe that they are not required to file ITR as tax has already...

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Loan recovery agents face RBI heat for unfair practices

Rohit Bhatia (named changed) from Alwar in Rajasthan was a guarantor for a Rs 1.5 lakh home loan that his neighbour took. However, when his neighbour defaulted on the repayment for 3 months, Bhatia started getting regular calls from recovery agents. Bhatia’s case is not an isolated one as many...

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Tata Mutual Fund launches CRISIL-IBX GILT Index – April 2026 Index Fund

Tata Mutual Fund has launched Tata CRISIL-IBX GILT Index – April 2026 Index Fund, an open-ended Target Maturity Index Fund investing in constituents of CRISIL-IBX Gilt Index – April 2026. The New Fund Offer (NFO) opens on September 23 and will close on September28. According to the press release, Tata...

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GST council meeting to decide on Online gaming compensation today

The Goods and Services Tax (Council) is going to meet again on Wednesday to discuss crucial issues of GST compensation to states beyond June 2022 and 28 per cent tax on casinos, online gaming and horse racing. The opposition states on Monday pushed forward their demands of either extending the...

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RBI restrains Mahindra Finance from using recovery agents after accident

The Reserve Bank of India (RBI) on Thursday directed Mahindra & Mahindra Finance Services Ltd, Mumbai (MMFSL), to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders. In other words, the company was directed not to use services of any outside agency for loan...

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SBI Mutual Fund launches small cap, mid cap equity index funds

SBI Mutual Fund has announced the launch of two equity index funds, further expanding its offerings in the passive segment. SBI Nifty Midcap 150 Index Fund and SBI Nifty Smallcap 250 Index Fund are open-ended schemes that would replicate the performance of the underlying indices – Nifty Midcap 150 Index...

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TDS is compulsorily deductible from these types of NRI income

There is a general belief among people leaving India and settling abroad that they are no more liable to tax or subject to tax deductions at source (TDS) in India. This may not be true at all times, as individuals qualifying as Non-residents in India (NRI) as per the Indian...

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GST council gives relief to transport sector, small online businesses

The transportation of goods is likely to be cheaper as the Goods and Services Tax (GST) council on Wednesday gave some relief to the transport sector slashing GST on ropeways, on renting of goods carriage including fuel cost and exempting the foreign component of the tour package from GST. The...

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