Income Tax Act | Business Upturn

PB Fintech faces ₹145.91 crore tax disallowance confirmed by CIT(A)

Yash Agarwal — Fri, 01 May 2026 12:04:40 +0000

PB Fintech Limited’s wholly owned subsidiary, Paisabazaar Marketing and Consulting Private Limited, has received an order from the Commissioner of Income Tax, Appeal, Delhi-23 (CIT(A)), confirming a tax disallowance amounting to ₹145.91 crore. The order, issued under Section 250 of the Income Tax Act, 1961, was dated April 30, 2026, and pertains to financial years 2022-23 and 2021-22.

The disallowance, confirmed by CIT(A), was originally made by the Assessing Officer under Section 37 of the Income Tax Act. Specifically, ₹85.60 crore was disallowed for FY 2022-23, as per the order dated March 31, 2025, and ₹60.31 crore for FY 2021-22, as per the order dated April 17, 2025.

Despite the confirmation of the disallowance, Paisabazaar plans to appeal the CIT(A)’s order. The company has indicated that the orders are appealable, and it intends to file an appeal in due course. As a result, there is currently no financial impact on the company.

The CIT(A) also addressed a claim made by Paisabazaar regarding the set-off of brought forward losses, which was not included in the computation sheet of the assessment or reassessment order. The CIT(A) found the claim to be prima facie correct and directed the Assessing Officer to verify and allow the set-off as per law during the recomputation of total income.

This development has been disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and will be available on PB Fintech‘s website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Great Eastern Shipping announces TDS details for debenture interest payments

Yash Agarwal — Wed, 08 Apr 2026 07:12:11 +0000

The Great Eastern Shipping Company has announced the tax deduction at source (TDS) details for the interest payments on its 8.70% Unsecured Redeemable Non-Convertible Debentures, ISIN INE017A08235. The interest payment and redemption are scheduled for May 6, 2026, with payments being made net of TDS to debenture holders listed as of April 21, 2026.

For resident debenture holders, TDS will be deducted at 10% if the debenture holder has a valid PAN linked with Aadhaar. No tax will be deducted if the interest is ₹10,000 or less during the financial year, or if a duly filled Form No. 121 is submitted by individuals under 60 years of age, provided the interest does not exceed the non-taxable amount. Senior citizens over 60 years can also submit Form No. 121 to avoid TDS. Additionally, entities like Life Insurance Corporation and General Insurance Corporation, among others, can provide a declaration and evidence of registration with IRDAI to claim TDS exemption.

For mutual funds, no TDS will be deducted if they furnish a certified copy of SEBI registration or CBDT notification and declare their income as exempt under section 11 of the Income-tax Act 2025. If the PAN is unavailable or invalid, TDS will be deducted at a higher rate of 20%.

Non-resident debenture holders will have TDS deducted as per the Income-tax Act at applicable rates. They may opt for Double Tax Avoidance Treaty (DTAA) benefits if more favourable, by submitting necessary documents such as a Tax Residency Certificate and a self-declaration of eligibility for DTAA benefits.

Debenture holders are required to email scanned copies of the necessary documents to the company and its Registrar and Share Transfer Agent, KFin Technologies Limited, by April 21, 2026. Original documents can be sent to the company’s registered office or KFin Technologies’ address in Hyderabad.

The company emphasises that incomplete or unsigned forms will not be considered for exemption, and debenture holders may file a return of income to claim a refund if tax is deducted at a higher rate due to incomplete documentation.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IndusInd Bank launches Capital Gains Account Scheme for seamless reinvestment

Business Desk — Thu, 26 Mar 2026 06:00:08 +0000

IndusInd Bank has introduced a new Capital Gains Account Scheme (CGAS) that allows customers to park long-term capital gains until reinvestment, facilitating tax exemptions as per the Income-tax Act, 1961. This scheme offers a secure and compliant facility for holding unutilised capital gains, enabling customers to make informed reinvestment decisions within the statutory timelines.

The launch of this scheme follows authorisation from the Central Board of Direct Taxes (CBDT), permitting IndusInd Bank to accept deposits under the Capital Gains Account Scheme, 1988. The bank will accept deposits of unutilised proceeds from the sale of eligible capital assets, such as residential properties, flats, farmhouses, agricultural land, urban land, and land in Special Economic Zones (SEZs).

IndusInd Bank provides two account options under CGAS: Type A – Savings Account, which allows flexible deposits and withdrawals with no minimum balance and applicable savings interest, and Type B – Term Deposit Account, offering fixed-tenure deposits with a minimum deposit of ₹10,000 and higher returns aligned with reinvestment timelines. The scheme is available at authorised non-rural IndusInd Bank branches for eligible customers, including resident individuals, Hindu Undivided Families (HUFs), non-individual entities, and Non-Resident Indians (NRIs).

For more details, customers are encouraged to visit the bank’s website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Samvardhana Motherson declares interim dividend of Re. 0.35 per share for FY 2025-26

Kinjal — Fri, 20 Mar 2026 15:27:26 +0000

Samvardhana Motherson International Limited has announced an interim dividend of Re. 0.35 per equity share for the financial year 2025-26. The dividend was declared at the Board of Directors meeting held on March 19, 2026. Shareholders holding equity shares as of the record date, March 27, 2026, will be eligible to receive the dividend, which will be paid or dispatched within 30 days of the declaration.

In compliance with the Income Tax Act, 1961, the dividend is taxable in the hands of shareholders, and the company will deduct tax at source (TDS) at applicable rates. The TDS rate will vary based on the residential status of the shareholder and the documents submitted to the company. For resident shareholders, a valid PAN will attract a 10% TDS, while an invalid or no PAN will result in a 20% TDS. Shareholders can submit Form 15G or Form 15H to claim a nil TDS rate, provided they meet the eligibility criteria.

Non-resident shareholders can benefit from the Double Taxation Avoidance Agreement (DTAA) between India and their country of residence, which may offer a more favourable TDS rate. To avail of the DTAA benefits, non-resident shareholders must provide a Tax Residency Certificate and other relevant documents.

The company has urged shareholders to submit the necessary declarations and documents by March 26, 2026, to ensure the correct TDS rate is applied. This communication aims to facilitate the smooth processing of the interim dividend and ensure compliance with tax regulations.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).