Background: In order to deter cash transactions, section 40A(3) was incorporated in the Income Tax Act, 1961 (IT Act). As per this section, a taxpayer who incurs cash
Pertains to alleged misappropriation of ₹729 crore of Religare Finvest The Economic Offences Wing of the Delhi Police has arrested two senior officials of Lakshmi Vilas Bank for colluding
Several global banks moved large sums of allegedly illicit funds over a period of nearly two decades, despite red flags about the origins of the money, BuzzFeed and
Punjab National Bank had the most number of fraud cases at 240. However, Bank of India took the biggest hit of Rs 5,124.87 crore. Public sector banks (PSBs)
The Central Board of Direct Taxes (CBDT) has prescribed five broad parameters for compulsory selection of returns for complete scrutiny under faceless assessment for FY 2020-21. The Board
