RBI requires mutual funds to report foreign liabilities and assets annually for compilation of Balance of Payments and International Investment Position statistics. The survey must be filed each year by the prescribed deadline.
This article explains why FEMA does not explicitly prohibit round-tripping transactions and how regulators instead control them through overseas investment and FDI rules. It highlights the importance of commercial substance and regulatory compliance.
The article argues that recurring policy interventions have failed to resolve deep-rooted economic problems. It suggests that prolonged neglect of structural issues could push the global economy from recession into stagflation.
The Supreme Court held that adjudicatory proceedings cannot survive when authorities rely on undisclosed material or deny meaningful hearing. The ruling reinforces that procedural fairness is a constitutional requirement, not a mere formality.
ITAT Bangalore held that exemption under Section 54F cannot be denied merely because the sale deed was registered after two years. Substantial investment and acquisition of rights in the property within the prescribed period were considered sufficient compliance.
Section 12(3) of the Companies Act, 2013 mandates specific disclosures on company letterheads. Failure to mention the CIN and other prescribed details can result in statutory penalties.
The court ruled that using a registered trademark as a keyword to divert online traffic can amount to trademark infringement. The key takeaway is that invisible keyword use may attract liability when it exploits a brand’s commercial reputation.
The High Court held that using Input Tax Credit for the mandatory 10% GST appeal pre-deposit is not a criminal act. It ruled that professional advice given within the framework of GST law cannot be prosecuted as cheating or conspiracy.
Introduction: In India, GST has disrupted the traditional methods of managing compliance and taxation in most industries. For the ceramic and sanitaryware industry, a segment of the construction and housing value chain, the advent of GST has brought advantages as well as complications. For producers, traders, and customers, appreciation of its implications is critical. Key […]
Income tax notices are often issued for verification, mismatches, or compliance checks and do not always indicate wrongdoing. Understanding the notice, verifying its authenticity, and responding on time are crucial to avoiding penalties.
