The framework outlines offences like tax evasion, non-filing of returns, and failure to pay TDS/TCS. It clarifies punishments, procedural safeguards, and when prosecution can be initiated.
The framework permits taxpayers to settle offences by paying prescribed compounding charges instead of facing prosecution. It clarifies eligibility, timelines, and conditions for acceptance or rejection.
The framework clarifies that advance tax becomes mandatory when estimated liability exceeds ₹10,000, with specific exemptions for certain taxpayers. It outlines computation, payment schedules, and consequences of non-compliance, emphasizing structured tax payment during the financial year.
This case highlights when Alternate Minimum Tax becomes applicable due to deductions reducing regular tax liability. It clarifies eligibility, exclusions, and computation rules, emphasizing minimum tax obligations despite tax benefits.
This explains how fair market value governs taxation under multiple provisions including gifts, ESOPs, and slump sales. It highlights that prescribed valuation rules ensure consistent computation of deemed income.
SEBI clarifies that the broad-based fund requirement applies at the scheme level for AIFs. This ensures accurate investor composition and stricter compliance for AMCs.
The RBI proposes removing restrictions on including quarterly profits in CRAR calculations linked to NPA provisioning. This move simplifies capital adequacy compliance and improves flexibility for banks.
IFSCA has revamped reporting norms with updated formats and new intermediary categories. The circular mandates quarterly reporting and strengthens supervisory oversight.
The case addresses withdrawal of an advance ruling request before its pronouncement. The authority permitted withdrawal under Regulation 20, leaving the classification and duty issues undecided.
The authority dropped penalty proceedings after finding that the company had already shifted its registered office and the error was unintentional. Timely compliance and lack of mala fide intent proved crucial.
