KHATIMA NEWS
Business
Customers disputing incorrect charges, unauthorised debits or unresolved digital payment problems must first complain to their bank or financial institution. If there is no response within 30 days, or the reply is unsatisfactory, they can approach the Reserve Bank of India’s ombudsman system within the applicable deadline.
Business
Freelancers who do not require a tax audit can file their income tax return for AY 2026-27 by August 31, 2026. The correct ITR form, professional receipts, eligible expenses, Section 44ADA and income from overseas clients are among the key issues that can affect compliance and taxable income.
Business
A Rs 5 lakh investment in a Post Office Time Deposit can mature to approximately Rs 5,35,403 over 1 year or Rs 7,24,974 over 5 years. Interest rates differ by tenure, while only the 5-year deposit qualifies for tax benefits under Section 80C under the old tax regime.
Business
A Rs 5 lakh deposit in a post office Time Deposit can mature at different amounts depending on the selected term. Based on the stated rates, the approximate maturity values range from Rs 5,35,403 for 1 year to Rs 7,24,974 for 5 years. Only the 5-year option qualifies for tax benefits under the old tax regime.
Business
A Rs 5 lakh investment in a Post Office Time Deposit can mature at approximately Rs 5,35,403 to Rs 7,24,974, depending on the selected tenure. The 5-year option carries the highest listed rate and is the only tenure eligible for tax benefits under Section 80C under the old tax regime.
Business
Income tax notices can arise during return processing, assessment, scrutiny, reassessment or recovery of outstanding demand. The correct response depends on the section cited and the issue identified. Taxpayers may need to accept an adjustment, correct a defective return, provide records, challenge a demand or submit a detailed explanation within the prescribed timeline.
Business
A post from the Reserve Bank of India recalls the Pie, once India’s smallest currency unit. Used in everyday transactions during the pre-decimal monetary system, the denomination is no longer in circulation but remains part of the country’s monetary history.
Business
The August series expiry on NSE is scheduled for Tuesday, 25 August 2026. CNBC Awaaz Managing Editor Anuj Singhal has warned traders about selling out-of-the-money single-stock options close to expiry, as a sudden price move can turn a ₹3-4 premium trade into a physical settlement obligation worth lakhs.
Business
The Reserve Bank of India has imposed penalties of ₹2.70 lakh on Progfin Private Limited and ₹8.10 lakh on Shri Ram Finance Corporation Private Limited. The action followed inspections linked to their financial positions as on March 31, 2025, and identified shortcomings involving KYC systems, customer risk classification and governance requirements.
Business
The Reserve Bank of India has fined Shri Ram Finance Corporation Private Limited ₹8.10 lakh after finding breaches involving director appointments, customer risk categorisation and the timely uploading of KYC records. The action followed a statutory inspection linked to the company’s financial position as on March 31, 2025.
Business
Non-audit taxpayers earning from business or profession must file their income tax returns by 31 August 2026. Missing the deadline can lead to late fees, interest on unpaid tax and loss of eligibility to carry forward certain business, trading or capital losses. Separate deadlines apply to audited and transfer pricing cases.
Business
State Bank of India will change the way monthly free withdrawals are counted for Basic Savings Bank Deposit account holders from October 1, 2026. Cash withdrawals beyond the first four in a month will cost Rs 15 plus GST per transaction, with digital transactions included in the revised count.
