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Cash deposits into a savings account may seem like a routine banking transaction, but large cash deposits can attract regulatory and tax scrutiny. Banks are required to report certain high-value cash transactions, be it withdrawal or deposit, to the income tax department. Savings Accounts are opened to help people manage their money, which includes withdrawing…
The government has withdrawn 5,978 departmental income-tax appeals and decided not to file another 17,489 after raising the monetary limits for pursuing tax disputes before appellate forums. The move has affected cases before the Income Tax Appellate Tribunal (ITAT), High Courts and the Supreme Court. The figures were disclosed by Finance Minister Nirmala Sitharaman in…
Using a credit card for rent payments might seem convenient, especially for those who seek to manage cash flow or earn rewards. However, the convenience can come with significant costs if you are not careful about how you use your card. Though it’s not usual for landlords or PG owners to accept rent payment via…
The S&P 500 closed lower on Friday, dipping from a record high and weighed down by Applied Materials, while investors digested weaker-than-expected retail sales data. Applied Materials fell after its upbeat quarterly forecast failed to impress investors. The chip equipment maker’s shares have doubled in 2026 due to strong demand related to the buildout of…
Goldman Sachs Group Inc., Blackstone Inc. and Apollo Global Management Inc. had been working tirelessly for months to draw up debt deals that would help developers of artificial intelligence systems pay for chips from Nvidia Corp. With slow progress on the complex deals, Nvidia’s chief executive officer, Jensen Huang, decided to change tack: He went…
While Gen Z’s social media feeds might scream “YOLO” (You Only Live Once) with aesthetic cafe dumps and mountain getaways, their bank statements tell a decidedly different story. A recent study by SalarySe, which analysed millions of UPI transactions from over 5.2 lakh salaried Gen Z users in India, effectively shatters the lifestyle-first stereotype. The…
The proposals include removing an additional 20% settlement charge in certain cases involving multiple proceedings and introducing a fast-track mechanism for settlements of up to ₹10 lakh
A $900 million bet Google parent Alphabet took on Elon Musk‘s rocket company SpaceX in 2015 was worth roughly $94 billion at the end of June, a 100-fold jump, according to a Reuters report. Alphabet is by far the largest single institutional shareholder in SpaceX following the company’s $86 billion IPO in June, a Reuters…
West Bengal will implement the central government’s healthcare insurance scheme Ayushman Bharat for 1.5 crore families i.e. 6 crore individuals, and the state’s cashless coverage scheme Mukhyamantri Swasthya Bima Yojana on August 16, health minister Sharadwat Mukherjee said today. Saying that 16 August will be observed as ‘Ayushman Diwas’ he added that this brings the…
The Securities and Exchange Board of India (Sebi) has broadened the scope of products, securities and services that can be offered by Online Bond Platform Providers (OBPPs), allowing them to offer products and securities regulated by the International Financial Services Centres Authority (IFSCA), as well as certain tax-specific bonds. Under the revised framework, OBPPs can…