RBI proposes major governance reforms replacing rigid rules with principle-based guidance for bank Boards. The framework allows delegation to committees while ensuring Boards retain control over strategic and material decisions.
ITAT Delhi held that Advertisement, Marketing & Promotion expense [AMP expense] incurred by Make My Trip wholly and exclusively for the business is not capital in nature. Further, since AMP expense is not an international transaction, adjustment by TPO rightly deleted.
RBI proposes a comprehensive overhaul of TReDS guidelines to improve MSME liquidity and streamline receivables financing. The draft introduces simplified onboarding, credit guarantee access, and harmonised regulatory norms.
CBIC amends Notification 15/2023-Customs (ADD) to update producer name to DNE LASER (Guangdong) Co., Ltd. based on DGTR recommendation.
IFSCA has revamped reporting norms with updated formats and new intermediary categories. The circular mandates quarterly reporting and strengthens supervisory oversight.
The issue was fragmented TDS compliance through multiple forms. The new framework consolidates them into Form 141, reducing duplication and improving ease of filing.
The issue concerns complexity in the existing TDS/TCS provisions. The new framework consolidates sections and introduces coding systems, improving compliance efficiency and reducing ambiguity.
The issue concerns taxation of online cricket gaming winnings. The framework mandates a flat 30% tax with no deductions, emphasizing strict compliance and reporting obligations.
The issue concerns GST compliance requirements for businesses. It highlights that maintaining proper records and filing returns on time is essential to avoid penalties and ensure smooth tax credit claims.
The case examines whether insolvency must be admitted upon default. The Supreme Court held that tribunals have discretion to consider financial health, emphasizing revival over automatic admission
