Last month, the Reserve Bank of India (RBI) restrained the lender from opening new branches and also freezed remuneration of its CEO Shekhar Ghosh for not meeting the licensing conditions.

Income Tax authorities, which had previously asked Walmart to explain the logic behind its tax deductions on the $16 billion Flipkart deal, have the option to seek more clarifications from the US retailer once they study the reply.

It will be on the lines of similar schemes for excise and service tax, which has been subsumed under the Goods and Services Tax (GST). Customs and Income Tax also have such informer reward schemes.

E-commerce companies will have to deduct 1 per cent tax collected at source (TCS) from October 1 before making payments to their suppliers.

Despite steps such as withdrawing withholding tax on Masala bonds, allow some breathing space to foreign portfolio investors, and check non-essential imports and promote exports in order to arrest the decline in rupee, the local currency fell over 50 paise below the 72 level per dollar mark in trade today.

Managing your money can be tricky. Send your queries, and top-notch industry leaders will help you resolve any issue.