The Central Government has notified a statutory development authority under Section 10(46A), granting income-tax exemption from AY 2024–25. The benefit is conditional on continued statutory status and specified public purposes.
The regulator has issued a Master Circular compiling all existing SSE-related directions in one document. Earlier circulars are rescinded, but past actions and obligations remain fully protected.
The ruling holds that capital gains from offshore structures can be taxed in India when facts show substance over form. The key takeaway is that tax treaties do not protect arrangements leading to double non-taxation.
Authorities held that non-disclosure of auditor-reported violations in the Directors’ Report breached Section 134(3)(f). The ruling underscores that transparency in statutory reporting is mandatory, not optional.
Authorities held that failure to display a complete registered office address violated Section 12(3)(a) of the Companies Act. The case reinforces that even procedural lapses can attract the maximum statutory penalty if left unrectified.
A public sector bank has invited quotations to appoint external auditors for reviewing its internal audit and compliance functions. The move focuses on quality assurance, risk assessment, and systemic improvements over a defined audit period.
The issue examined is how traditional confidentiality duties now apply in data-driven work environments. The key takeaway is that professionals must actively manage digital data flows to maintain client privacy.
The regulator has revised capital adequacy norms by updating risk-weight mappings for non-resident corporate claims. The key takeaway is stricter treatment of unrated and downgraded exposures to enhance prudential discipline.
ICAI has mandated a digital E-Diary for CA students starting articleship from January 2026. The move standardises training records, improves transparency, and enables real-time monitoring by principals.
The order deals with failure to submit complete allottee particulars in statutory filings. It reinforces that incomplete disclosures under allotment rules attract penalties under the residuary provision.
