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If you are planning to buy gold jewellery worth more than Rs 2 lakh or open a demat account without a PAN, the new income tax framework has an important update for you. From April 1, old Form 60 has been replaced by Form 97, but PAN remains compulsory for several high-value purchases and financial…
Mumbai: RBI has required banks to report all foreign exchange derivative deals involving the rupee undertaken in India and globally by their entire group, including overseas branches, subsidiaries, and parent entities. This brings into view offshore trades that were earlier largely invisible. This applies to both OTC deliverable and offshore non-deliverable contracts, meaning even speculative…
MUMBAI: RBI has come out with a Digital Payments – Emandate Framework, 2026 which seeks to make recurring digital payments simpler, safer and more user-centric by reducing friction while retaining safeguards, marking a shift towards a consent-driven autopay ecosystem.The guidelines mandate a 24-hour pre-debit notification, requiring issuers to inform users in advance about the merchant…
Singer Sonu Nigam has sold multiple land parcels in Karjat, totalling over 1.9 hectares, for a combined value of Rs 1.95 crore, according to property registration documents accessed by CRE Matrix. All four transactions were registered on April 7, 2026. The documents further show that a total stamp duty of Rs 11.70 lakh was paid…
India’s financial ecosystem has undergone a major transformation in recent years, with the Unified Payments Interface (UPI) emerging as the centrepiece of the country’s digital payments revolution. Just ten years ago, financial transactions in the country were slow and largely cash-dependent but now, they are just a touch or click away, enabling instant, seamless and…
AJMER: The income tax department has issued notices to a roadside washerman in Ajmer’s Ramganj area, seeking an explanation for bank transactions in his name worth over Rs 598 crore that are ostensibly linked to large-scale buying and selling of diamonds.The department also issued a notice to the manager of the private bank where the…
Government e-Marketplace GeM is a dedicated e-Market service platform, a National public procurement portal, governed by Government of India for marketing different goods and services. State-run public procurement platform Govt e-Marketplace (GeM) recorded a 7.4% decline in transactions in FY26, with gross merchandise value (GMV) at Rs 5 lakh crore, compared with Rs 5.4 lakh…
Unified Payments Interface (UPI) transactions touched a record high in March, with both value and volume hitting new peaks, driven by festive spending and financial year-end activity, according to PTI.Data released by the National Payments Corporation of India (NPCI) showed that UPI transactions totalled Rs 29.53 lakh crore in value during March, up 19 per…
New details emerge as Aden Holloway faces drug charges with Alabama basketball star linked to phone transactions before March Madness (Image via Getty) Aden Holloway, a young Alabama basketball player, is now in big trouble just days before March Madness. Police arrested him on Monday after finding more than two pounds of marijuana inside his…
By retaining mandatory PAN quoting for high-value deals, the government builds a more robust audit trail. (AI image) Draft income tax rules 2026: The Income Tax Department recently released the draft income tax rules in line with the New Income Tax Act. There are several changes in the draft rules pertaining to the requirement of…
