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The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) recently held that rental income already disclosed to the income tax authorities can be considered as an identifiable source of cash deposited into a bank account at a later date. Even where a landlord claims to have collected rent in cash, the subsequent deposit of that money cannot be disregarded merely because the rental earnings have already been taxed.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/QnBcSYE
During the Kautilya Economic Conclave, Reserve Bank governor Sanjay Malhotra emphasized the critical need for a resilient financial infrastructure. He pointed out the significance of monitoring new vulnerabilities to ensure the system can withstand diverse shocks. Malhotra acknowledged that systemic risks are now more global and interconnected, leading to unique challenges.
Chairman Setty says bank aspires to increase UPI transactions through Yono to 5cr per day
PIB Fact Check has debunked claims about a government notification for public sector banks declaring Saturdays as holidays. A fake document circulated on social media created confusion around the banking holiday issue. Public sector banks, including the State Bank of India, have not received any such notifications. Discussions regarding the five-day banking week are ongoing between the Indian Banks' Association and the United Forum of Bank Unions.
