Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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Interest or income from a depository's IPF must now be substantially retained in the fund: at least 95% received every year is to be ploughed back to IPF, while up to 5% may be used for dedicated IPF staff, administrative and statutory expenses such as taxes and audit fees. Any excess expenditure beyond that cap must be borne by the depository, and any unutilised amount in the same financial year must be returned to IPF. The revised norms apply from 1 September 2026, and depositories must update systems, amend bye-laws and inform market participants.
Interest or income from a depository's IPF must now be substantially retained in the fund: at least 95% received every year is to be ploughed back to IPF, while up to 5% may be used for dedicated IPF staff, administrative and statutory expenses such as taxes and audit fees. Any excess expenditure beyond that cap must be borne by the depository, and any unutilised amount in the same financial year must be returned to IPF. The revised norms apply from 1 September 2026, and depositories must update systems, amend bye-laws and inform market participants.
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