NCLT's approval of Subhash Chandra's ₹6.5 crore payout raises eyebrows. The media mogul's plan settles ₹22,006.57 crore in creditor claims, marking a 99.97% haircut. This decision highlights the challenges in insolvency resolutions and the impact on lenders. Stakeholders are concerned about the implications for future cases in the insolvency landscape.
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Retirees can now claim a retroactive leave encashment tax exemption of ₹25 lakh, up from ₹3 lakh, thanks to a recent ITAT Chennai ruling. This significant change allows retirees to benefit from enhanced financial relief for pre-2023 years. Understanding this ruling is crucial for retirees looking to maximize their tax benefits.
Pensioners urge the 8th Pay Commission to shorten the 15-year commuted pension restoration period to 10-12 years. They cite changing interest rates and longer life expectancy as reasons for this request, highlighting the need for updated pension rules to better serve retirees. Employee associations support this initiative, emphasizing the importance of timely financial support for government pensioners.
EPFO's new campaign allows employers to enroll eligible workers missed from EPF coverage. This special window is open until October 31, 2026, providing a crucial opportunity for regularization.
The RBI is implementing new regulations for banks and NBFCs to enhance transparency in loan spreads and APRs. These changes aim to simplify borrowing comparisons for consumers while potentially leading lenders to disclose risk factors upfront. As a result, borrowers may find it easier to navigate loan options and understand costs.