Today’s key finance, tax & compliance changes for professionals — what changed and why it matters.
Companies Act
HDFC Bank to decide on CEO Jagdishan’s third term only after key report
Livemint – Companies · 2026-06-08
HDFC Bank’s board is delaying the decision on CEO Sashidhar Jagdishan’s reappointment until a legal review addressing concerns raised by former chair Atanu Chakraborty is completed. This postponement comes with only four months left in Jagdishan’s current term, highlighting the importance of governance and compliance in corporate leadership decisions.
Companies Act
From Singapore to Mumbai, the trail of Rajesh Exports’ elusive financial statements
Livemint – Companies · 2026-06-08
Rajesh Exports Ltd and its Singapore subsidiary have provided conflicting financial statements to regulators, raising concerns about the accuracy of their overseas financial disclosures. This situation highlights potential compliance issues under the Companies Act regarding the transparency and integrity of financial reporting for companies with international operations.
Companies Act
Ather taps govt’s ₹1-trillion innovation fund to counter rivals’ incentive advantage
Livemint – Companies · 2026-06-08
Ather Energy is securing low-interest loans of 2-3% from the government’s ₹1-trillion innovation fund to support the development of its electric motorcycle and EL platforms. This move comes as the company seeks to offset disadvantages from being excluded from the production-linked incentive scheme. Why it matters: This funding could enhance Ather’s competitive position in the EV market, impacting financial strategies for similar companies.
Tax
CBDT Issues Complete Income Tax Scrutiny Guidelines for FY 2026-27
TaxGuru – Notifications/Circulars · 2026-06-07
The CBDT has released comprehensive guidelines for the selection of income tax returns for complete scrutiny in FY 2026-27, focusing on specific categories of taxpayers involved in survey, search, reassessment, tax-evasion, exemption, and recurring addition cases. These guidelines aim to enhance compliance and ensure thorough examination of high-risk returns.
Tax
GST on Commercial Rent Under Reverse Charge Mechanism
Taxscan · 2026-06-07
The GST on commercial rent under the Reverse Charge Mechanism (RCM) mandates that registered tenants are responsible for paying GST directly when renting commercial properties from unregistered landlords, including government or local authorities. This change clarifies the tax obligations for tenants in such arrangements.
GST
Orissa HC Directs GST Appeal Before GSTAT as Tribunal Is Now Functional
TaxGuru – All · 2026-06-08
The Orissa High Court has directed that disputes related to GST should now be pursued before the Goods and Services Tax Appellate Tribunal (GSTAT), which has recently become functional. The court emphasized compliance with the pre-deposit requirement under Section 112(8) for appeals. This ruling reinforces the importance of utilizing the designated statutory forum for GST disputes.
RBI
Money Market Operations as on June 05, 2026
RBI – Press Releases · 2026-06-08
The Reserve Bank of India (RBI) has reported on money market operations as of June 5, 2026, detailing volumes and weighted average rates across various segments including overnight and term segments. The overnight segment recorded a total volume of ₹15,874.22 crore with a weighted average rate of 5.14%. The report also includes details on liquidity adjustment facilities and repo operations. Why it matters: This information is crucial for finance professionals to assess liquidity conditions and interest rate trends in the market.