The demand to increase the claim limit in old tax disputes in Pune is being raised by the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA). They believe that the government should have increased the withdrawal limit to Rs 1 lakh, instead of the announced Rs 25,000 in the interim budget. Additionally, they are urging the government to make the income tax appellate process faster and provide amnesty to taxpayers proportional to the relief amount.
FCA Q1 2021 financial promotions quarterly data
On 6 April, the FCA published its first financial promotions quarterly data showing the number of financial promotions that have been amended or withdrawn due to non-compliance with its rules in Q1 2021. The FCA reviewed 441 financial promotions identified through complaints it has received and its own proactive work. 38 cases resulted in 105 promotions being amended or withdrawn. 75% of these amend/withdraw outcomes related to either website or social media promotions. 47% of financial promotions reviewed related to retail lending, 26% to retail investments, and 18% to retail banking.
Financial Guidance and Claims Act 2018 (Commencement No. 7) (Dissolution of the Consumer Financial Education Body) Regulations 2021