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SEBI Board Meeting Updates: Reduced Public Issue Listing Time and Enhanced Investor Protections

June 28, 2023 1200 Views 0 comment Print

Comprehensive update on SEBI Board meeting outcomes, focusing on securities listing timelines, investor grievance redressal enhancements, and provisions for non-convertible debt securities.

Audit Lapses: NFRA imposes Rs. 60 Lakh Penalty on CA & Audit Firm

June 28, 2023 18246 Views 0 comment Print

Comprehensive analysis of audit lapses leading to significant NFRA-imposed penalty on CA Devang Dalal and M H Dalal & Associates, setting a precedent in corporate financial accountability.

SEBI Introduces Online Remittance of Fees for Securities Market Participants

June 27, 2023 390 Views 0 comment Print

Explore SEBI’s new online remittance system for fees payment. Learn about the different payment methods available and the necessary information required during transactions.

ITAT deletes Penalty on income tax refund Interest & Section 14A Additions

June 27, 2023 918 Views 0 comment Print

In Sunrise Broking P. Ltd. Vs ITO, ITAT Ahmedabad abolishes penalty over additions made to interest on income tax refund, recognizing no concealment or inaccuracy in the income particulars.

RBI Master Direction on Minimum Capital Requirements for Operational Risk

June 26, 2023 4008 Views 0 comment Print

RBI Master Direction on Minimum Capital Requirements for Operational Risk shall apply to all Commercial Banks (excluding Local Area Banks, Payments Banks, Regional Rural Banks, and Small Finance Banks).

Deemed Arm’s Length Price for Assessment Year 2023-2024

June 26, 2023 1722 Views 0 comment Print

Notification No. 46/2023-Income-Tax Dated: 26th June, 2023  regarding deemed arm’s length price for assessment year 2023-2024. Learn about the tolerance range for wholesale trading and other cases in international transactions or specified domestic transactions.  

NFRA Circular on Statutory Auditors’ Responsibilities in Reporting Fraud in a Company

June 26, 2023 10911 Views 0 comment Print

NFRA issued a circular highlighting statutory auditors’ obligations to report fraud in accordance with Companies Act, 2013. Circular emphasizes consequences for auditors who fail to fulfill their reporting duties and clarifies that resignation does not absolve them of their responsibilities.

HC mandates Refund of Additional tax Liability to Contractors on Introduction of GST

June 26, 2023 1275 Views 0 comment Print

In Gordhandas Gobindram Vs State of Chhattisgarh, the Chhattisgarh High Court rules that additional tax liability incurred due to the implementation of GST will be reimbursed to contractors.

IRDAI Directs Life Insurers to Comply with Surrogacy and ART Acts for Insurance Coverage

June 26, 2023 720 Views 0 comment Print

IRDAI has issued a circular directing all life insurers to comply with Surrogacy Act, 2021, and ART Act, 2021. Circular emphasizes the need for suitable insurance products that provide coverage for medical expenses and specified loss or damage incurred during the processes of surrogacy and oocyte retrieval.

Investor Service Centres of Stock Exchanges – Provisions & Upgradation

June 26, 2023 786 Views 0 comment Print

Read the latest circular from SEBI regarding the provisions and upgradation of Investor Service Centres (ISCs) of stock exchanges. The circular outlines the basic minimum facilities to be provided, training requirements for officials, and the phased implementation of the circular.

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