SEBI has proposed allowing Gift PPIs for mutual fund subscriptions to attract new investors. The framework includes strict safeguards on funding, ownership, and usage limits.
Failure to file financial statements within the prescribed timeline resulted in monetary penalties. The case highlights strict enforcement of Section 137(3) compliance requirements.
Failure to maintain a functional registered office led to penalties on the company and its directors. The ruling stresses that companies must always ensure accessibility for official communications.
The Court held that insolvency proceedings cannot be invoked after completion of SARFAESI auction to stall recovery. It clarified that Section 96 moratorium cannot undo concluded transactions.
High-risk cases involving benami transactions, foreign assets, and TDS defaults have been identified for verification and investigation under various tax laws.
The department has identified high-risk cases across multiple assessment years and enabled reassessment action through the Insight portal.
The notification removes Policy Condition No. 2(iii) from Chapter 95 of ITC (HS). This change alters the applicable import policy framework with immediate effect.
The Securities and Exchange Board of India proposes simplified nomination norms for demat accounts and mutual fund folios to ease investor onboarding. The consultation suggests fewer mandatory nominee details, default nomination, and a cap of four nominees.
ICAI has recommended mandatory verification of the Certificate of Practice for Chartered Accountants appearing before GSTAT to ensure compliance with statutory requirements.
The exemption for disability pension has been preserved under the Income-tax Act, 2025 to maintain the relief previously available under earlier tax laws.
