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Employee got Rs 65.21 lakh as VRS after company shut plant, but wrong ITR reporting led to tax dispute; ITAT Pune rules in his favour and gives him relief from tax. Know how this empoyee won the case in ITAT Pune.
HDFC Bank, RIL, and Eternal among top 10 stock holdings of HDFC Mutual Fund in June
HDFC Mutual Fund held top positions in ICICI Bank, HDFC Bank, Axis Bank, RIL and Eternal in June. Check the fund houses top 10 stock holdings and portfolio changes.
Kotak Mahindra Bank Q1 profit up 22.6% to 5,480.46 crore
On a standalone basis, net profit of the bank stood at 4,122.96 crore in the June 2026 quarter, as compared to 3,281.68 crore in the year-ago period
Lenskart and Meesho among 5 midcap stocks bought by mutual funds in June
Mutual funds bought five midcap stocks, including Lenskart, Meesho, JSW Infrastructure, NHPC and Ajanta Pharma, in June. These stocks witnessed net purchases worth over Rs 10,000 crore during the month.
7 mutual funds reduced allocation in 21 smallcap stocks in June. Check details
Seven mutual funds, including SBI, HDFC, Kotak and Quant Mutual Fund, trimmed holdings in 21 small-cap stocks in June. Check the complete list of stocks where fund houses reduced exposure.
Punjab National Bank Q1 net profit surges over three-fold to 5,200 crore
Asset quality improves as retail, MSME and agriculture lending gains momentum
Property sellers may need to re-compute advance tax after the Cost Inflation Index release. This delay impacts individuals selling property acquired before July 23, 2024. Advance tax payments for the first quarter were due before the index was notified. Underestimating tax liability could lead to interest charges for deferred payments. Taxpayers can adjust subsequent installments or claim refunds if overpaid.
Axis Bank Q1 net profit rises 22.5% as lower provisions boost earnings
Net interest income rose 8 per cent, but higher funding costs, weaker non-interest income and elevated operating expenses kept operating profit growth at just 1.3 per cent
Q1 Results Today, 18th July 2026 Live Updates: Catch all the live updates here
Indian banks seen poised for strong FY27 on robust credit growth and healthy asset quality
Strong loan demand, improving deposits and policy support expected to drive earnings
Samir Arora-backed Helios Mid Cap Fund adds Groww, 4 more stocks; hikes stake in Paytm and 29 others
Samir Arora-backed Helios Mid Cap Fund added Groww parent Billionbrains Garage Ventures and four other stocks to its June portfolio, while raising exposure to Paytm and 29 other companies. The fund exited five stocks, trimmed its stake in Black Box and retained holdings in 32 stocks unchanged.
A recent ruling clarifies children's birthright in inherited property. Mitakshara Hindu law states self-acquired property does not grant automatic birthrights. The source of the father's title determines if property is ancestral or self-acquired. Children can still inherit self-acquired property through succession laws or a Will. This ruling impacts claims based solely on birthright in such cases.
Can the Income Tax Department tax you based only on papers found during a builder's search? A recent ITAT ruling explains when third-party documents are not enough and the important rights every property buyer should know.
Sebi clears standing instructions for SWP, STP in demat-held MFs
Sebi now permits demat mutual fund investors to set up standing instructions for systematic plans. This facility, previously for statement of account holders, will be phased in. Unit-based SWPs and STPs will be covered by January 2027. Amount-based plans will follow by April 2027. Amfi also simplified mutual fund unit transmission procedures after a unit holder's death.
UPI MDR may return for large merchants: What it means for your digital payments
India's government is considering a small Merchant Discount Rate for large UPI retailers. This potential change aims to create a sustainable revenue model for payment providers. Large merchants with significant annual turnover would face this minor transaction fee. Peer-to-peer and small merchant transactions will remain free of any charges.
FD rate up to 8.05% for senior citizens investing for five years; Know list of banks
Some banks offer senior citizens fixed deposits with interest rates up to 8.05 percent. These deposits are available for a five-year term and up to Rs 3 crore. Banks deduct tax at source if FD interest exceeds Rs 1 lakh annually. Senior citizens can submit Form 15H to avoid TDS if their tax liability is zero. This form helps banks understand tax eligibility based on income and rebates.
Bank holiday today: Customers who had planned to visit their local bank branch for banking services such as cash deposits, cheque clearances, demand drafts or updating passbooks are left wondering if they should go to complete their tasks today.s.
Financial planning for retirement: Early retirement necessitates careful financial planning for extended periods. A Rs 1 crore corpus may prove insufficient for early retirees in India. Experts suggest a diversified investment strategy for long-term financial security. This approach balances regular income with growth to combat inflation. Strategic asset allocation and disciplined withdrawals are crucial for sustainable retirement.
RBL Bank to leverage Emirates NBD network for NRI deposits, trade finance
Lender has already mobilised $150 million under FCNR(B) scheme; expects margins to improve from Q2
Central Banks Q1FY27 net profit up 13% at 1,324 cr
The public sector bank had reported a net profit of Rs1,169 crore in the year ago quarter
RBI moves closer to polymer banknotes
Central banks subsidiary floats EoI for manufacture, supply of sheet for plastic currency
Muthoot MCred ties up with South Indian Bank to expand affordable housing finance
Under the partnership, SIBs Affordable Housing Loans will be made available through select Muthoot MCred branches across various locations
The Latest Home Loan Interest Rates: Jul 03, 2026
The Latest Home Loan Interest Rates: Jul 03, 2026
The Latest Fixed Deposit Interest Rates: Jul 03, 2026
The Latest Fixed Deposit Interest Rates: Jul 03, 2026
Sebi introduces standing instructions for SWP, STP in mutual funds in demat holdings
Sebi has allowed SWP and STP standing instructions for mutual fund units held in demat form, simplifying investing. The rollout will occur in two phases, with unit-based transactions by January 2027 and amount-based transactions by April 2027 through depositories.
Banking services must reach every village: Sitharaman
The FM and AP Chief Minister distribute 3,216 crore in loans to over 1.03 lakh beneficiaries in Palnadu, AP
Is RBI asking people to pay Rs 7,500 in tax to get Rs 1 lakh payment? Heres the truth
A fake Reserve Bank of India letter is misleading people about pending payments. It falsely claims a Rs 1 lakh payment is on hold due to transaction failure. Recipients are asked to pay Rs 7,500 as a refundable tax to release funds. The Press Information Bureau's Fact Check unit has flagged this letter as fake. The public is urged not to fall for such fraudulent schemes.
Fresh SIP options in international mutual funds have narrowed sharply, with only Baroda BNP Paribas Aqua FoF accepting new investments after multiple fund houses halted inflows due to SEBIs overseas investment limits. Investors are exploring LRS, GIFT City and global ETFs as alternatives.
AMFI simplifies mutual fund transmission process to make claim settlement easier for nominees
AMFI has simplified mutual fund transmission procedures for deceased unit holders. New measures consider address and name mismatches for smoother claims. Asset Management Companies will now rely on updated address details supported by documentation. A harmonized framework for name and signature discrepancies is also introduced. These updated guidelines are effective immediately for all member AMCs.
Where are mutual funds placing their bets? A look at Junes sectoral trends
Mutual funds increased exposure to private banks, healthcare, NBFCs, automobiles and real estate in June, while trimming allocations to technology, oil & gas and utilities, according to a Motilal Oswal report.
RBI fixes underwriting commission rates for 32,000 crore government securities auction
For the 6.03% Government Security 2029, which has a notified amount of 11,000 crore, the RBI fixed the underwriting commission cut-off rate at 0.44 paise per 100
ICICI Prudential Flexicap Fund turns Rs 10,000 monthly SIP into nearly Rs 9 lakh in 5 years
ICICI Prudential Flexicap Fund turned a Rs 10,000 monthly SIP into Rs 8.47 lakh over five years ending June 30, 2026, delivering an XIRR of 13.83% on a total investment of Rs 6 lakh. During the same period, the BSE 500 TRI generated an XIRR of 10.43%. The fund also reported strong three-year and one-year SIP returns.
Central Bank of India Q1 results: Profit jumps 13% to 1,324 cr
Total income rises to 10,678 crore during the June 2026 quarter from 10,360 crore in the same period of FY26
Automatic EPF transfer on switching job: Who can access this facility and who will be left out?
The new EPF reforms introduce automatic fund transfers when changing jobs. This facility requires an Aadhaar-linked and KYC-compliant Universal Account Number for members. Employees in private and exempted EPF organizations will not receive this automatic transfer. Members can check their previous work history on the EPFO portal for verification. Several digital reforms aim to simplify claims and improve member services.
Universally known as the Father of Indexing, Bogle had introduced the first indexed fund for individual investors in 1976. So, when it comes to compounding, it wont be wrong to assume that Bogle knew what he was talking about when he said that investors also need to know a crucial detail beyond the magic of compounding.
PSBs expect to raise $30 bn from RBIs overseas deposit scheme, sources say
RBI had announced a zero-cost foreign-exchange swap facility for deposits raised from non-resident Indians on June 5
Gold rate today: Gold prices saw a slight decrease on Friday, July 17, 2026. Here's a look at the latest 22-carat and 24-carat gold rates across leading jewellery brands such as Tanishq, Malabar Gold & Diamonds, Joyalukkas and Kalyan Jewellers today.
Indias FCNR scheme has potential to attract $70-80 billion from NRIs
The RBI has allowed banks to offer higher interest rates on FCNR deposits until September 30, aiming to boost forex reserves, support the rupee and attract larger foreign currency inflows from NRIs
Despite court order husband did not pay maintenance to wife; she files case to stop his pension on this ground but loses case in Madras HC for this reason. Keep reading to know why the wife lost the case in Madras High Court.
Unity Small Finance Bank has revised its fixed deposit interest rates. Senior citizens can now earn up to 8.50% on a 501-day fixed deposit. Regular customers will receive 8.00% interest on the same tenure. The bank also offers 7% interest on savings accounts for larger deposits. A 1.00% penalty applies for premature fixed deposit withdrawals.
Old Pension Scheme: These government employees can now opt for OPSwill more get the same benefit?
When Mr Rawat from Doonga Bazaar, Kangra, Himachal Pradesh came to Noida, Uttar Pradesh to study B.Tech at IILM University, Greater Noida, for the first semester on August 17, 2023, he booked a hostel in Knowledge Park-III. Within one week of his stay, Rawat faced severe deficiencies. The food provided was sub-standard, maintenance was neglected and the promised Wi-Fi facility/password was never shared.
Bank earnings ahead: What to look out for amid margin boost hopes, leadership changes?
Foreign currency deposits from non-residents should improve liquidity after the RBI said it would bear the cost of currency hedging, says Nomura
Global interest in GIFT City is booming: JPMorgan says in talks with 100 multinationals
Banking assets in GIFT City doubled to more than $100 billion as of September compared with two years earlier
Why your tax refund might be stuck and what to do about it
Is your employer delaying deposit into your NPS? Know how it can impact you
Government departments must remit employee NPS contributions promptly to PFRDA. Delays in crediting NPS contributions will incur interest charges for employees. This interest will match the Public Provident Fund rate applicable at that time. Officials causing administrative delays face liability for pecuniary losses to the government. Departments must report actions taken regarding these NPS contribution remittance rules.
Barclays sees FCNR inflows falling short of market hype
According to the report, expectations may have been inflated by comparisons with the RBIs successful 2013 FCNR scheme
Banks have to dispose of specified non-financial assets acquired from a borrower within 7 years: RBI
The central bank noted that a bank generally does not transact in immovable assets as part of its core business operations, except in exceptional cases
Jio Financial Services Q1 net profit zooms 156% to 830 crore
The NBFCs assets under management (AUM) rose 2.6 times from 11,665 crore as at June-end 2025 to 30,667 crore as at June-end 2026
Piramal Finances Q1 FY27 consolidated net profit jumps 67% to 461 crore
The non-banking finance companys board on Thursday approved a fund raise of up to 4,000 crore
Exim Bank India presents 428 crore dividend cheque to FM Sitharaman for FY26
Bank posts 32 per cent y-o-y rise in net profit to 4,273 crore
Shriram AMC announces Refreshed Fund Opportunity for its three hybrid funds
Shriram AMC has refreshed the investment framework of three hybrid funds, introducing a research-driven, dynamic asset allocation strategy across equity, debt, gold and silver. The move aims to improve diversification, manage risk and support long-term wealth creation across market cycles.
Leading private sector banks streamlining employee base
This workforce streamlining coincides with a strategic expansion of branch networks, as these banks shift toward automated processes to enhance customer experience and reduce costs.
South Indian Bank posts 17% rise in net profit to 378 crore
P R Seshadri, MD & CEO, noted consistent growth in targeted segments, focusing on quality asset acquisition in corporate lending, auto loans, and gold loans
Can banks increase FD interest rates as inflation crosses RBIs target of 4%?
Rising inflation has crossed the Reserve Bank of India's target, signaling potential repo rate hikes. Higher inflation and increased credit demand suggest banks might raise fixed deposit interest rates soon. Banks monitor deposit growth and credit demand before adjusting their fixed deposit rates. High yields on government securities and small savings schemes also pressure banks to increase FD rates.
Citigroups Indian clients shift focus to Rupee volatility
The rupee has weakened about 11% against the dollar over the past year, the worst-performing Asian currency over the period
Quant Mid Cap Fund exits Reliance Industries and 3 others, adds BHEL, 1 other stock in June
Quant Mid Cap Fund exited Reliance Industries and three other stocks in June while adding BHEL and L&T Technology Services to its portfolio, according to ACE MF data. The fund sold 21.38 lakh RIL shares worth Rs 282 crore and also exited PB Fintech, Torrent Pharmaceuticals and Oracle Financial Services Software (OFSS) during the month.
ITAT overturns STCG tax on Gujarat house sale: When Kaminiben from Anand, Gujarat, sold her house for Rs 21.4 lakh in AY 2018-19, which she had originally bought in 2005 for Rs 1.94 lakh, the tax dept issued her tax notices. However, as she was living abroad as an NRI at the time, she could not respond to them.
50 lakh to 1.4 crore: Heres how you can build more than 1 crore corpus by just extending your PPF
Gold price today: Gold prices remained a key focus for buyers on July 16, 2026. Checking the latest gold rates across leading jewellers can help you make an informed decision when buying gold. Here's a look at the latest 22-carat gold prices at Tanishq, Malabar Gold & Diamonds, Joyalukkas and Kalyan Jewellers today.
SBI, Quant among 5 mutual funds that made complete exit from 11 midcap stocks in June
Five mutual funds exited 11 midcap stocks completely in June, including Tube Investments, Dixon Technologies, PB Fintech, and Kaynes Technology, as AMCs actively reshuffled portfolios, according to Nuvama.
HDFC Flexi Cap among 7 mutual funds that multiplied investors' wealth up to 22x in 20 years
Seven equity mutual funds created exceptional long-term wealth, multiplying investors money up to 22.4 times over 20 years, led by Nippon India Growth Mid Cap Fund, according to FundsIndia.
JioBlackRock Mutual Fund files draft papers with Sebi for 2 new schemes
JioBlackRock Mutual Fund has filed draft documents with Sebi to launch two new schemes: the JioBlackRock Corporate Bond Fund and the JioBlackRock Nifty 50 ETF. The Corporate Bond Fund will predominantly invest in AA+ and above-rated corporate bonds, while the Nifty 50 ETF will passively track the Nifty 50 Index, expanding the fund house's passive and fixed-income offerings.
ITR 2026: Common income tax return filing mistakes that cost employees lakhs
A careful, timely, and well-documented filing approach can help employees avoid notices, interest, penalties, and refund delays while ensuring that all eligible deductions and benefits are correctly claimed. The Income Tax Return (ITR) filing due date for salaried individuals is July 31, 2026 if they are not liable for tax audit.
Blackstone sets up infra platform in India, names Ami Momaya as division MD
Blackstone has over $50 billion worth assets under management in India
Presumptive taxation: Why some taxpayers could pay more tax under the new Income Tax Act
Government support for FCNR(B) deposits until September 2026 has sparked renewed investor interest. Banks are now offering higher interest rates on these foreign currency accounts. Non-Resident Indians can benefit from avoiding Indian currency depreciation risks.
NFO Insight: Can Abakkus Large & Mid Cap Fund help investors navigate volatile markets?
Abakkus Mutual Fund has launched its third equity NFO, the Abakkus Large & Mid Cap Fund. This new fund aims to navigate volatile markets by investing in growth companies and established businesses. The fund employs an in-house MEETS framework for evaluating long-term value creation potential. Experts suggest caution with NFOs due to the absence of a performance track record.
HDB Financial shares rise over 4% after record Q1 profit, brokerages lift target prices
HDFC Bank arm HDB Financial Services reported a net profit of 785 crore for the quarter ended June 30, 2026, a 38.3% y-o-y increase from 568 crore in the corresponding quarter last year
Stripe and Advent offer $53 billion to acquire PayPal
If completed, the deal would create one of the worlds largest digital payments companies, processing nearly $3.7 trillion in annual payment volume
ITR filing: Should you keep printouts of all your tax documents, or are digital copies enough?
Taxpayers must retain income tax documents for several years after filing returns. Digital copies are generally sufficient, but original physical records are vital for ownership. Documents depend on income sources, including salary, capital gains, and business income. Keeping records helps respond to tax notices and supports future tax calculations.
Foreign assets in AIS: CBDT sets the stage for Foreign Assets of Small Taxpayers Disclosure Scheme
The CBDTs decision to upload foreign financial information into taxpayers annual information statements may be more than an administrative exercise. Read alongside the Finance Act, 2026, it appears to set the stage for the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, and signals a new era of tax transparency.
Bank holiday today: Banks will be closed today, July 16, 2026, in few states today. These closures are to observe the Jagannath Rath Yatra and the Harela festival. The Rath Yatra involves parading deities on large wooden chariots through city streets. Harela is a festival celebrating the monsoon and the agricultural sowing season.
Unlike Gold ETFs, both physical gold and digital gold have longer required holding periods for realizing long-term gains. Additionally, Sovereign Gold Bonds will see changes in capital gains tax exemption starting April 2026. Tax implications for inherited or gifted gold depend on how and when the gold is sold.
Indias overall BoP turns into a deficit in the first two months of FY27
A BoP deficit can arise when a country imports more than it exports
ICICI Lombard Q1 net falls 46% at 403.17 crore
The insurers net profit for the first quarter last fiscal stood at 747.08 crore. During Q1FY27, its net premium underwritten rose 17.70 per cent year-on-year at 6,603.73 crore from 5,610.52 crore in Q1FY26
Regulated entities will have to implement data governance framework: RBI
Data has emerged as a critical organisational asset for REs, underpinning business operations, customer service, financial reporting, regulatory compliance, risk management, and strategic decision-making
HDFC Life Insurance Q1 up 11.5% at 611 crore on growth in net premium income
The private sector life insurer had registered a net profit of 548.35 crore in the first quarter last fiscal
ICICI Prudential Life Q1 net jumps 28% to 386.18 crore
New premium income grows 14.65% to 9,749.33 crore in Q1FY27
Union Bank of India Q1FY27 net profit up 30% at 5,332 crore
Bank eyes $1.5-2 billion via fresh Foreign Currency Non-Resident (Bank)/ FCNR (B) deposits under the RBIs concessional swap window
Momentum Investing Decoded: The Right Time to Buy Winners!
Biji SS assumes charge as Karnataka Bank ED
Appointment is for a period of three years with effect from July 15, 2026
TVS Venus Home Credit India acquires Varthana for 967 crore to deepen lending play
The acquisition marks Home Credits entry into education-focused lending
Did you receive 8.25% EPF interest today in your account? Here's how you can check it
Employees Provident Fund Organisation members anticipate receiving 8.25 percent interest today. This interest payment applies to the financial year 2025-2026 for many subscribers. EPFO subscribers can check their updated balances through the UMANG app or SMS. The EPFO member e-Sewa portal also provides access to account details. Interest accrues monthly, ensuring no loss if credit is delayed.
According to the income tax rules, car dealers are required to deduct 1% TCS if the ex-showroom value of the car exceeds Rs 10 lakh. However, do not confuse your total car cost with the ex-showroom price, which is the base retail cost excluding any kind of taxes, accessory charges etc.
Tata AIG, Ujjivan Small Finance Bank partner to widen insurance reach
Tata AIGs insurance portfolio will be available across Ujjivans 776 branches spanning 335 districts in 26 States and UTs
NFO Alert: Sunil Singhania-led Abakkus Mutual Fund launches large & midcap fund
Abakkus Mutual Fund has launched the Abakkus Large & Mid Cap Fund, an open-ended equity scheme that will invest predominantly in large-cap and mid-cap companies. The NFO is open until July 29 and aims to generate long-term capital appreciation through a research-driven investment approach.
7 mutual funds made complete exit from 14 smallcap stocks in June. Check details
Seven mutual funds fully exited 14 smallcap stocks in June, including Ramco Systems, Gland Pharma and JM Financial, as fund managers reshuffled portfolios to actively manage investments and rebalance holdings.
