Advisory –System Enhancement for Order-Based Refunds
Earlier, taxpayers could claim refunds under the category “On account of Assessment/Enforcement/Appeal/Revision/Any Other Order (ASSORD)” only when the cumulative balance of a Demand ID was negative and marked “Refund Due.” This restriction prevented refund claims in cases where individual components (minor heads) reflected negative balances but the overall demand was zero or positive.
Processing of waiver applications by Exchanges for commonly listed entities
SEBI’s SOP framework requires stock exchanges to monitor compliance filings and impose penalties or restrictions on companies that fail to comply. Exchanges were permitted to consider waiver applications but had to record reasons for any relaxation. Internal Committees were set up by Exchanges to review such waiver requests.
Notification of PF, TF and Money Laundering risks to private sector entities
The Financial Action Task Force (FATF) released a report titled “Complex Proliferation Financing and Sanctions Evasion Schemes (CPFSES)” on June 20, 2025. The report, prepared by the Risk, Trends and Methods
Exemption from Transfer for PwD Employees in Telangana
The Telangana Government has issued orders exempting certain categories of Government employees from routine transfers and postings under Section 20(5) of the Rights of Persons with Disabilities Act, 2016. Employees with 70% or more disability will be retained at their existing posting or place of choice, subject to administrative needs. Parents of children with intellectual disabilities and employees
Master Direction – Know Your Customer (KYC) Direction, 2016
The Master Direction prescribes uniform standards for all regulated entities, covering customer acceptance policies, customer identification procedures, customer due diligence measures, record management, re
Reserve Bank of India (Know Your Customer (KYC)) (2nd Amendment) Directions, 2025
The Reserve Bank of India (RBI) had issued the KYC Master Directions, 2016 to ensure uniformity in customer identification and monitoring in line with the PMLA, 2002. With evolving financial services, increased use of technology, and a need to strengthen customer inclusion safeguards, RBI has reviewed the framework and issued this 2nd Amendment to KYC Directions, 2025.
EPFO Simplifies Death Claims – Guardianship Certificate Not Required
EPFO had been facing delays in processing death claims where surviving minor children of deceased members were legal beneficiaries. Many regional offices were insisting on production of Guardianship Certificates from courts before releasing funds, which caused hardship and prolonged settlement timelines for families
NPCI to Discontinue UPI Collect Requests for P2P Transactions
The Employees’ Provident Fund Organisation (EPFO) had introduced Aadhaar seeding with UAN in The National Payments Corporation of India (NPCI) has issued a circular (NPCI/UPI/OC/220/2025-26) announcing
Seeding/Correcting Aadhaar in Universal Account Number (UAN)
The Employees’ Provident Fund Organisation (EPFO) had introduced Aadhaar seeding with UAN in 2014 to enable direct service delivery and reduce processing time for member benefits. In January 2025, a simplified process allowed members to update their profiles directly if Aadhaar was verified with UIDAI, minimising employer or EPFO involvement.
Merchant Shipping Act, 2025
An Act to consolidate and amend the law relating to merchant shipping to ensure compliance with India’s obligations under maritime treaties and international instruments to which India is a party