The Tribunal held that while overseas remittances under LRS may be lawful, their end-use must comply with FEMA regulations. LRS cannot override statutory restrictions on foreign lending or account holding.
The case highlights how mergers involving EOU pharmaceutical entities demand approvals under GST, DGFT, Customs, and sectoral laws. The key takeaway is that EOU benefits survive only with prior permissions and strict procedural compliance.
The case framework explains how the new wage definition mandates that at least 50% of remuneration must qualify as wages. This directly impacts minimum wage compliance and statutory contributions.
The article breaks down salary components such as basic salary, allowances, and perquisites. It highlights which parts are fully taxable and which may qualify for exemptions.
The Tribunal held that reassessment proceedings fail when the foundational assumption behind reopening is factually incorrect. It ruled that “reasons to believe” must exist in reality at the time of recording, failing which the entire reassessment becomes void ab initio.
The regulator has formally recognized operating and hybrid leases of oilfield equipment as financial products. This brings such leasing activities under the IFSC regulatory framework from the date of notification.
This article explains the mandatory requirement that only a registered valuer can determine share pricing for preferential issues.
This article explains how courts assess unexplained cash credits and why proper proof of identity, capacity, and genuineness can lead to deletion of additions.
