The RBI is transitioning its Cheque Truncation System to a new continuous clearing and settlement model, aiming for faster processing and payment release.
The Reserve Bank of India has released a report outlining the FREE-AI framework, a set of principles and recommendations for the responsible and ethical use of artificial intelligence in the financial sector.
The IBBI has proposed a new regulation to cap the total number of assignments for Insolvency Professionals (IPs) at 10, including IRP, RP, and Liquidator roles, to ensure equitable distribution and improve efficiency.
SEBI consolidates rules for Debenture Trustees into a master circular, detailing online registration, change in control, and regulatory communication procedures.
SEBI seeks comments on a draft circular to ease securities transmission from nominees to legal heirs by introducing a new reason code to avoid incorrect tax.
The Delhi High Court ruled that Common Area Maintenance (CAM) charges are subject to TDS under Section 194C, not Section 194I, as they are for services and not rent.
The ITAT Delhi remanded a case to the CIT(A) to determine if the Assessing Officer had an independent belief to reopen an assessment, or if it was based solely on an audit objection. A dissenting opinion quashed the reopening as a change of opinion.
The ITAT Mumbai deleted an addition made under sections 69A and 69C, ruling that an addition based solely on loose papers and a third-party statement without corroboration is not valid.
This article analyzes how courts protect the right to trade under Article 19(1)(g) of the Constitution against arbitrary GST registration cancellation.
The IBBI has released a discussion paper on removing a redundant clause from the Code of Conduct for Insolvency Professionals, citing duplication with other regulations.
