The International Financial Services Centres Authority (IFSCA) plays a crucial role in governing financial products and services in the International Financial Service Centres (IFSC). As part of their regulatory efforts, IFSCA has released a draft of the IFSCA (Payment Services) Regulations, 2023, seeking public input. Full text of the sane us as follows:- INTERNATIONAL FINANCIAL […]
IFSCA seeks input for review of (Fund Management) Regulations, 2022, as part of a broader effort to simplify financial sector compliance.
Recent Income Tax search operation in Kashmir Valley exposes a prominent business group’s substantial tax evasion in sectors including Cement, Steel, and Real Estate
Read Jharkhand High Court’s judgment on Kamaladitya Construction’s case challenging a 7-year gap in show cause notice. Is it unreasonable? Find out.
Discover key concepts in Ind AS 8 regarding accounting policies, changes in accounting estimates, and errors, with insights on differences from IAS 8.
Acia Communications Technology (India) Private Limited faces a 7 Lakh penalty imposed by the Ministry of Corporate Affairs for not appointing a resident director as required.
CESTAT Allahabad held that service tax is leviable on services relating to health & fitness by way of teaching yoga and meditation under the category of ‘Health and Fitness Services’.
ITAT Bangalore held that denial of exemption under section 11 of the Income Tax Act unjustified as the primary activity of charitable trust is not run with profit motive. Accordingly, collection of money for micro financing in the form of interest on the loans advanced to the self help group members will not defeat the real object in order to deprive of the exemption.
ITAT Mumbai held that expenditure towards brand reminder, customer gifts, purchase of medical books and journals is not allowable expenditure u/s 37(1) of the Income Tax Act as such expenses are in the nature of free bees and prohibited.
Stay updated with latest changes in AML, CFT and KYC guidelines by International Financial Services Centres Authority (IFSCA). Learn about added measures and clarifications.
