Catmoc FinAcc Pvt Ltd

Catmoc FinAcc Pvt Ltd Business support Services Besides, we deal with training and recruitment of Accountants to cater the requirements of business houses.

We offer a broad range of services including Book-keeping, Accounting, Financial Reporting, Income Tax filing, GST filing, PAN application, GST registration, Company Formation, Trade License, Factory License, MSME registration, Loan and Audit to clients ranging from small to medium size enterprises.

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06/02/2026

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The Reserve Bank of India (RBI) announced on February 6, 2026, a new compensation framework for bank customers who are victims of small-value digital fraud.

Under this first-of-its-kind initiative, eligible victims will receive a one-time relief of up to ₹25,000.

The policy specifically targets "unintended" transactions, with RBI Governor Sanjay Malhotra clarifying that compensation will be provided even in cases where customers were tricked into sharing their One-Time Passwords (OTPs).

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06/02/2026

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The Supreme Court of India has agreed to hear a Public Interest Litigation (PIL) in March 2026 that challenges the practice of political parties promising "irrational freebies" during election campaigns to secure votes.

Chief Justice of India (CJI) Surya Kant has designated the matter as being of "paramount importance and serious public interest," noting that it will be heard by a three-judge bench.

Key Details of the Upcoming Battle:

The PIL, filed by advocate and BJP leader Ashwini Upadhyay, argues that pre-poll promises of irrational freebies funded by public money distort the level playing field for elections and undermine democratic values.

✅The Petitioner's Stance: Upadhyay remarked that political parties have reached a point where "only the sun and the moon are left to be promised". He contends that these practices amount to a "corrupt practice" akin to bribing voters at the taxpayers' expense.

✅Judicial Observation: CJI Surya Kant, presiding over a bench with Justice Joymalya Bagchi, emphasized that the issue warrants detailed examination due to its impact on governance and democratic processes.

✅Historical Context: The case, originally filed in 2022, seeks to revisit a 2013 Supreme Court verdict (Subramaniam Balaji v. Government of Tamil Nadu), which previously held that manifesto promises do not constitute corrupt practices.

👉Why This Matters for Indian Elections:

The outcome of this courtroom battle could fundamentally change how political parties approach election manifestos and campaign promises:

✅Deregistration Threats: The petition seeks directions for the Election Commission of India (ECI) to seize the election symbols or deregister political parties that distribute or promise irrational freebies.

✅Fiscal Responsibility: The court is expected to examine whether unchecked pre-poll promises undermine fiscal discipline, with previous benches observing that "freebie budgets" are sometimes exceeding regular budgets and pushing states toward bankruptcy.

✅Constitutional Scrutiny: The plea argues these practices violate constitutional principles, including Article 14 (equality before the law) and norms governing the use of the Consolidated Fund of India for public purposes.

✅Immediate Impact:
The timing of the hearing in March 2026 is considered critical because several state assembly elections are approaching. The court's decision could lead to new guidelines for the Election Commission or prompt Parliament to enact legislation to regulate campaign inducements.

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06/02/2026

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In this ruling, the Delhi ITAT clarified that mere acquisition of an assessee’s loan by an ARC at a lower price does not amount to remission or cessation of

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05/02/2026

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The Central Information Commission (CIC) has established that a wife is entitled to access her husband's salary and income details, particularly in maintenance or matrimonial disputes, ruling that such information cannot be denied on the grounds of privacy. This decision, supported by various rulings, emphasizes that financial details are necessary for legal proceedings.

Key Aspects of the Ruling:

✅Contextual Necessity: The disclosure of income, such as salary slips, is permitted when relevant to maintenance or legal proceedings to ensure fairness.

✅Not Strictly Private: In the context of matrimonial litigation, income details between spouses are not treated as strictly private third-party information.

✅Scope of Disclosure: The CIC recently (2026) clarified that while "generic details" of income should be disclosed, specific, detailed Income Tax Returns (ITR) and personal information of a third party do not necessarily need to be disclosed.

✅Legal Precedents: The ruling aligns with earlier decisions, including those from the Madhya Pradesh High Court, which affirmed that a wife is entitled to know her husband's remuneration.

✅Reciprocity: The principle has been applied to both parties, allowing for access to income information to prevent concealment of actual earnings.

The CIC has previously (2021) held that while a wife can ask for her husband's salary, a husband may not have the same entitlement to his wife's specific income tax returns under the RTI Act, 2005, although some contradictory rulings exist.

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04/02/2026

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The Union Budget 2026 introduced a notable change for participants in India’s stock derivatives market by increasing the Securities Transaction Tax (STT) on

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