It is to be noted that the Central Board of Direct Taxes (CBDT) requires banks to mandatorily report any instances in which an individual deposits a total of Rs 10 lakh or more during a financial year.
HRA hike for central govt employees: After DA hiked to 50%, several other allowances including HRA of the central government employees, will also be increased. The 7th Pay Commission recommended that the rates of HRA be revised to 30%, 20%, and 10% of basic pay in X, Y, and Z cities, respectively, when DA reaches 50%. Will the central government release a separate order mentioning the hike in HRA as DA reaches 50% now? How much will the hike be in HRA now? When can central government employees expect the increased HRA? Know here
Circular issued by Gujarat Home department states Hindu s seeking conversion to Buddhism, Sikhism, or Jainism must seek permission from district magistrate under Gujarat Freedom of Religion Act, 2003.
The National Company Law Tribunal (NCLT) has admitted Union Bank of Indias insolvency application against Kapil Wadhawan, former promoter of DHFL, for a Rs 3,958-crore default. Devendra Mehta is appointed as the resolution professional. DHFL s creditors, including FD holders, had recovered Rs 38,000 crore from Piramal Capital s acquisition in September 2021.
The average daily turnover at exchanges in GIFT City is currently at over $20 billion. The IFSC banking business asset size is at $33 billion, according to official data.