Loading...

⚠ ✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 Filters / Advanced Search ❯
TEXT

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ---- ❯
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ---- ❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ---- ❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Rupee loses 7 paise to settle at 95.95 against US dollar
    Wizz Financial collaborates with City Union Bank to Unveil 'Wizz Voyager', the Ultimate Smart Travel Card
    Finnable Appoints Sreeram Iyer, Former Global COO at ANZ Banking Group's Corporate and Institutional Business, to its Board of Directors
    ED arrests Kolkata man in land grabbing-linked PMLA case
    The cumulative exports (merchandise & services) during April-August 2026-27 is estimated at US$ 399.27 Billion, as compared to US$ 345.55 Billion in A...
    Rupee falls 3 paise to 95.91 against US dollar in early trade
    CGST Delhi South Commissionerate busts firm for fraudulent availment of ITC of over Rs. 15.78 crore; arrests partner of firm
    UPI Continues to Remain Free for Peer to Peer Transactions and 96% of Merchant Transactions
    Introduction of MDR on large value transactions to strengthen UPI's long-term sustainability: RBI
    Odisha to get Rs 3,406-cr silicon carbide semiconductor project
    India's exports jump over 26 pc in August; trade gap shrinks to five-month low
    Rupee extends losses for 6th session; ends 34 paise weaker at 95.88 against US dollar
    After six free years, govt sets 0.4% fee on UPI payments above Rs 2,000, capped at Rs 300
    ED chief orders action against IBC frauds, large haircuts to promoters
    JCB India eyes 15-20 pc export growth in FY27: MD Deepak Shetty
    India's exports rise 26.12 pc in August; trade deficit narrows to USD 26.86 bn
    CBI Arrests CGST Superintendent and a Consultant in Bribery Case
    Global Fintech Awards 2026 Celebrate Trailblazers Shaping the Future of Finance
    IIFL Finance Becomes First Non-PSU NBFC to Execute ₹25 Crores Tokenised Bond Transaction
    DICV Expands Regional Role as India Anchors New ISEAA Customer Region
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
September 16, 2026
Show AI Summary
Rupee depreciation reflected dollar strength, foreign outflows, elevated oil prices, and importer demand despite stronger domestic equities.
Foreign-exchange market conditions resulted in the rupee weakening for a seventh consecutive session and closing lower against the US dollar. Dollar strength, foreign fund outflows, elevated crude oil prices, higher US Treasury yields and increased importer demand for dollars exerted pressure on the currency. Positive domestic equity-market performance limited the downside, while expectations of a US Federal Reserve interest-rate increase supported the dollar index.
September 16, 2026
Show AI Summary
Multi-currency prepaid travel cards enable foreign-exchange spending, exchange-rate locking, and mobile-based controls for Indian international travellers.
Wizzmoni Financial Services Ltd. and City Union Bank Ltd. have partnered to launch Wizz Voyager, a co-branded AI-powered multi-currency prepaid travel card for Indian residents undertaking international travel. The card supports 37 international currencies and provides real-time exchange-rate locking, spending controls, transaction tracking and mobile-app-based management. It is designed to facilitate foreign-exchange spending and management of multiple currencies through a single payment instrument.
September 16, 2026
Show AI Summary
Non-executive nominee directorship strengthens lending governance, compliance, risk management and technology-led capability as the business scales responsibly.
Finnable has appointed Sreeram Ranganathan Iyer as a Non-Executive Nominee Director representing investor TVS Capital. The role is intended to strengthen board oversight as the non-banking financial company expands its lending operations. The identified priorities for sustainable growth include technology, compliance, governance, risk management, responsible lending, and data-driven underwriting. The nominee directorship reflects investor participation in governance and capability-building for a sustainable lending franchise.
September 16, 2026
Show AI Summary
Money laundering investigation addresses alleged land grabbing through forged property records, fabricated claims, coercion, and denial of landowners' rights.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged land grabbing through forged board resolutions, forged-sale agreements, fabricated deeds, and falsified property records. The alleged conduct includes manipulation of land records, civil proceedings based on false claims, denial of landowners' lawful entitlements, and threats or physical force against persons asserting legitimate rights. The investigation is linked to multiple police FIRs concerning the individual and associated entities.
September 16, 2026
Show AI Summary
Trade performance estimates show merchandise and services exports increasing while imports rise, widening the cumulative trade deficit.
External trade estimates for April-August 2026-27 show combined merchandise and services exports of US$399.27 billion and imports of US$459.65 billion, with a trade deficit of US$60.38 billion. Merchandise exports reached US$215.91 billion, while services exports were estimated at US$183.36 billion. Non-petroleum exports increased to US$180.61 billion. Growth in August merchandise exports was driven by electronic goods, petroleum products, engineering goods, chemicals, and cotton yarn, fabrics, made-ups and handloom products. Services-sector figures for August were estimated using data available through July.
September 16, 2026
Show AI Summary
Rupee depreciation amid dollar strength and foreign fund outflows highlights pressure from global monetary expectations and elevated oil prices.
Rupee depreciation against the US dollar in early trading reflected pressure from a stronger dollar and net foreign fund outflows, notwithstanding support from positive domestic equity-market performance. Dollar strength was associated with market expectations of a US Federal Reserve interest-rate increase to address inflation linked to higher oil prices. Elevated crude oil prices and risks to oil exports remained concerns, while domestic equity gains provided countervailing support.
September 16, 2026
Show AI Summary
Fraudulent input tax credit through bogus invoices prompted arrest following allegations of invoicing without actual supply of goods.
The investigation concerned alleged fraudulent availment and passing on of inadmissible input tax credit through bogus invoices. Multiple suppliers were identified as non-existent, non-functional, suspended or cancelled, while field verification indicated an absence of genuine business activity at certain declared premises. Input tax credit was allegedly availed without receipt of goods and passed on through invoices without corresponding supplies. Statements recorded during investigation led to the arrest of a firm partner under the CGST Act.
September 16, 2026
Show AI Summary
UPI merchant discount rate framework preserves free individual and small-merchant payments while charging specified larger merchant transactions.
UPI person-to-person transactions remain free irrespective of value, and person-to-merchant payments up to Rs.2,000 remain outside the merchant discount rate framework. Small merchants receiving qualifying UPI QR payments under the P2PM category continue to receive zero MDR treatment. MDR applies only to specified merchant payments above the threshold, with separate treatment for essential sectors and capital-market payments. Customers are not liable for MDR, merchants must not pass it on, and UPI application providers may not levy platform fees or hidden charges. MDR revenue supports payment ecosystem participants and small-merchant UPI adoption.
September 15, 2026
Show AI Summary
Merchant discount rate on large-value UPI merchant payments supports infrastructure investment while preserving free user payments.
Merchant Discount Rate (MDR) of 0.4 per cent applies to large-value UPI person-to-merchant payments exceeding Rs 2,000 from October 15. MDR is a merchant payment ecosystem charge, not a fee payable by customers. Person-to-person UPI payments remain free for users, while person-to-merchant UPI payments below Rs 2,000 remain free for merchants. MDR distribution is intended to support payment technology, infrastructure, acceptance networks and sustained UPI growth.
September 15, 2026
Show AI Summary
Special economic zone approval enables a silicon carbide semiconductor facility operating under an export-oriented technology investment framework.
Approval for a special economic zone-linked silicon carbide semiconductor manufacturing unit permits establishment of a facility under the jurisdiction of Falta Special Economic Zone. The unit is proposed to manufacture silicon carbide diodes and silicon carbide MOSFETs. Project financing combines government capital subsidies and promoter contribution, while the facility is projected to support export-oriented advanced semiconductor manufacturing, domestic capabilities, and technology-driven capital investment.
September 15, 2026
Show AI Summary
Merchandise trade performance reflects strong export momentum, import-led deficit pressures, and expanded services trade during August.
Merchandise exports increased by 26.12 per cent year-on-year to USD 43.81 billion in August, led by electronics, engineering goods and petroleum products. Merchandise imports rose 14.1 per cent to USD 70.76 billion, driven by crude oil, project goods, electronic items, silver, coal and coke. Gold imports declined substantially, contributing to a five-month low merchandise trade deficit. During April-August 2026-27, higher imports reflected domestic economic expansion, energy requirements and manufacturing-sector input needs.
September 15, 2026
Show AI Summary
Foreign exchange market pressures weakened the rupee as oil-import demand, risk aversion, dollar strength, and rising yields intensified.
Foreign exchange market pressures led to a sixth consecutive session of rupee depreciation against the US dollar. Higher Brent crude prices, dollar demand from oil importers, risk aversion, a stronger dollar and elevated global Treasury yields heightened concerns over inflation and India's external trade balance. Potential RBI intervention was viewed as a factor that could support the rupee at lower levels.
September 15, 2026
Show AI Summary
Merchant discount rates for larger merchant UPI payments introduce category-based fees while preserving free consumer transfers.
Merchant discount rate framework introduces a 0.4 per cent charge on direct person-to-merchant UPI payments exceeding Rs 2,000, effective from 15 October 2026. The charge is capped at Rs 300 for higher-value payments and is payable by merchants to acquiring banks. Person-to-person transfers remain free regardless of value, and P2M payments up to Rs 2,000 remain outside the charge. App providers may not impose platform fees or hidden charges, and banks must prevent merchants from passing MDR costs to customers.
September 15, 2026
Show AI Summary
Insolvency fraud enforcement targets collusive resolutions, coordinated predicate-offence investigations, accelerated money-laundering trials, and earlier victim asset restoration.
Enforcement priorities target suspected insolvency-resolution frauds involving collusive large haircuts, promoter reacquisition of assets, related-party claim inflation, creditor-process manipulation, asset stripping, and circumvention of resolution-applicant ineligibility. Coordination with police and other agencies is emphasised for predicate offences, including joint investigation teams and committal applications to enable combined trials of predicate and money-laundering offences. Asset restoration for legitimate victims is to be pursued early, especially in investor and homebuyer frauds.
September 15, 2026
Show AI Summary
Export expansion and domestic manufacturing guide JCB India's strategy through broader equipment offerings, fuel efficiency, and operator comfort.
JCB India targets 15-20 per cent export growth during the current financial year and plans a similar increase in annual production. Its export operations cover approximately 135 countries, including Southeast Asia, Africa and developed markets. The company's construction and earthmoving equipment portfolio is designed, engineered and manufactured in India for domestic and international customers, with product development focused on fuel efficiency, operator ergonomics, comfort and productivity.
September 15, 2026
Show AI Summary
Merchandise export growth driven by petroleum products coincided with lower gold imports and a narrowing trade deficit.
Merchandise exports increased sharply in August, led by petroleum product shipments, while imports also rose year-on-year. Reduced gold imports contributed to a narrower merchandise trade deficit. During the first five months of the fiscal year, the cumulative deficit widened as higher imports reflected domestic expansion, energy requirements and manufacturing-input demand. Energy commodities and electronic goods were principal contributors to the deficit, while export growth was supported by engineering goods, petroleum products, chemicals and textiles.
September 15, 2026
Show AI Summary
Bribery allegations in CGST redevelopment approvals lead to arrests following a trap involving an intermediary consultant.
Bribery allegations concerning CGST redevelopment approvals led to registration of a case against a CGST Superintendent and unknown persons. The Superintendent allegedly sought undue advantage for issuing a no-objection certificate and handing over CGST-owned flats. Following verification, a trap was laid after the complainant was allegedly directed to deliver cash to a CGST consultant. Both the Superintendent and consultant were arrested, produced before the competent court, and placed in police custody. Further investigation remains in progress.
September 15, 2026
Show AI Summary
Financial technology innovation receives recognition across banking, payments, lending, insurance, wealth management, cybersecurity and digital trust.
Global Fintech Awards 2026 recognised financial-technology innovation across banking, fintech, artificial intelligence, digital trust and identity, payments, lending, insurance, wealth management and cybersecurity. Its theme emphasised trusted, connected and inclusive financial systems, identifying Agentic AI, tokenisation and quantum technologies as areas of transformation. AI-powered financial innovation recognition covered AI applications in payments, banking, lending, insurance, and asset or wealth management.
September 15, 2026
Show AI Summary
Tokenised corporate bonds under the regulatory sandbox enable blockchain-based issuance and settlement experimentation for non-banking finance companies.
IIFL Finance completed a tokenised bond transaction under the SEBI Regulatory Sandbox framework for securities tokenisation. The transaction used the Metropolitan Stock Exchange of India bidding platform, with Trust Investment Advisors Private Limited as sole arranger and advisor, and the bonds are intended to be listed on the National Stock Exchange of India. Securities tokenisation digitally represents securities through blockchain and distributed ledger technology to support more efficient, transparent and faster debt-market processes.
September 15, 2026
Show AI Summary
Commercial-vehicle safety readiness and connected fleet support underpin expanded regional operations, automated transmission adoption, and localized manufacturing investment.
BharatBenz's product transformation is directed toward safer, more productive and efficient commercial transport. The truck and bus portfolio is being prepared with Advanced Driver Assistance Systems calibrated to Indian operating conditions in advance of evolving safety requirements. Automated Manual Transmission technology is being expanded to improve driver comfort, reduce fatigue, support fleet safety and efficiency, and lower total cost of ownership. Customer support combines connected fleet technology, service assurance, parts availability and service-network expansion.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

PMLA / Black Money

CGPSC scam: ED alleges Rs 45 lakh 'CSR' payment to ex-CGPSC chief for favouring businessman's kin

September 23, 2026

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Raipur, Sep 23 (PTI) The ED has claimed that arrested former Chhattisgarh Public Service Commission (CGPSC) chairman Taman Singh Sonwani received Rs 45 lakh through an institution controlled by him in return for favouring a businessman's son and daughter-in-law in the 2021 state service examination.

The money he received was shown as corporate social responsibility (CSR) funding, it said, adding that the total proceeds of crime in this case is quantified so far to the tune of Rs 3.28 crore.

The federal agency filed its first prosecution complaint before a special court in Raipur in connection with the alleged irregularities and corruption in the CGPSC examination scam during the previous Congress government in the state.

Seven accused -- Sonwani; Director of Shri Bajrang Power and Ispat Ltd Shravan Goyal; the then CGPSC Deputy Controller (Examination) Lalit Ganvir; Utkarsh Chandrakar, his brother-in-law Anil Chandrakar, medical officer Dr Vikas Chandrakar, and Additional Collector Chetan Borghariya were named as accused in the prosecution complaint.

Utkarsh Chandrakar is the nephew of K K Chandravanshi, a former personal assistant to the then Chief Minister Bhupesh Baghel, while Borghariya was an Officer on Special Duty in the then chief minister's office and is presently an Additional Collector in Balrampur-Ramanujganj.

The Enforcement Directorate (ED) claimed that money generated through alleged corrupt examination arrangements was received through Gramin Vikas Samiti (GVS) as CSR funding and that money collected from candidates was subsequently possessed, used, transferred or projected as legitimate transactions.

Sonwani, who headed the CGPSC from 2020 to 2023, was arrested by the ED in July in connection with its money laundering investigation into alleged corruption, question paper leaks and manipulation of examinations conducted by the commission in 2020 and 2021 for recruitment to posts, including deputy collector and deputy superintendent of police.

Earlier this month, the ED arrested Borghariya and Utkarsh Chandrakar.

The money laundering probe stems from an FIR registered by the Chhattisgarh Economic Offences Wing (EOW), another FIR lodged by the state police in Balod district and a subsequent complaint filed by the CBI in 2024. The CBI filed a chargesheet and two supplementary chargesheets in 2025, and Sonwani was also arrested by the central agency in 2024.

According to the ED, the proceeds of crime identified in the case originated through two separate streams.

The first related to alleged manipulation of the CGPSC State Service Examination in which Sonwani, as chairman, had a role in the custody and availability of question papers and the examination process.

The ED alleged that in consideration of favour shown to the son and daughter-in-law of businessman Shravan Kumar Goyal, Gramin Vikas Samiti (GVS), an institution controlled by Sonwani, received Rs 45 lakh from Shri Bajrang Power and Ispat Ltd through its CSR mechanism. The agency said the payment was made in two instalments of Rs 20 lakh and Rs 25 lakh and was projected as legitimate institutional funding.

It said that Sonwani's position as CGPSC chairman, his directions concerning applications made in the name of GVS, his management of the institution and approvals obtained on those applications established his alleged knowing acquisition, possession and use of the money.

The complaint said Goyal's son Shashank Goyal and daughter-in-law Bhumika Katiyar were selected at ranks three and four respectively. It also referred to the selection of Sonwani's nephews Nitesh Sonwani and Sahil Sonwani as deputy collector and deputy superintendent of police, and his nieces-in-law Misha Kosle and Deepa Adil as deputy collector and district excise officer.

The agency has also attributed a role to CGPSC Deputy Controller of Examinations Lalit Ganvir, claiming he held the post from December 2020 while simultaneously serving as treasurer of GVS and as a joint authorised signatory of its Bank of Maharashtra account.

The ED claimed the second stream involved collection of money from candidates and their families on the promise that examination papers would be provided in advance and selections secured.

The agency quantified this collection at Rs 3.13 crore. The total proceeds of crime identified so far have been quantified at Rs 3.28 crore -- Rs 45 lakh in the first stream and Rs 3.13 crore collected from candidates in the second, the agency said.

The ED clarified that cash deposits of Rs 72.18 lakh in Utkarsh Chandrakar's bank account represented placement of part of the Rs 3.13 crore and were not additional proceeds. It also treated Rs 69.85 lakh deposited in Borghariya's accounts as proceeds of crime in his possession.

The agency said the investigation suggested that candidates were allegedly offered access to examination papers and selection for payments ranging from Rs 50 lakh to Rs 60 lakh per candidate.

Dr Vikas Chandrakar allegedly acted as a recruiter and aggregator, approaching candidates and their families and collecting money. Statements recorded by the ED described payments carried by him to Anil Chandrakar and Utkarsh Chandrakar, with an approximate figure of Rs 3.20 crore, including amounts he allegedly borrowed where candidates had not paid the full amount, it said.

The ED also cited bank transactions as evidence of the movement of money, including transfers of Rs 9.90 lakh on April 8, 2022 and Rs 5.10 lakh on April 11, 2022 from Anil Chandrakar's bank account to Utkarsh Chandrakar. PTI TKP NP

Topics

Acts Income Tax