The new tax regime shifts loan approval to verified financial data like ITR and GST. Clean records now determine eligibility instead of physical assets.
Regulation 31A lays down strict eligibility and compliance requirements for promoter reclassification. The key takeaway is that loss of control and reduced shareholding are essential conditions.
Holding more than one DIN is treated as a continuing default under law. Even genuine mistakes attract penalties, though early correction may reduce the financial impact.
The framework restricts distribution of gifts at or in connection with general meetings. The ruling highlights that such practices may influence shareholder decisions and are therefore non-compliant.
The Court reduced the death penalty to life imprisonment after finding the case did not satisfy the strict capital punishment threshold. It ruled that lifelong imprisonment without remission is a more proportionate sentence in severe sexual offence cases.
The updated framework doubles turnover limits and expands eligibility to cooperatives. At the same time, it introduces strict rules on fund usage and governance. The key takeaway is that benefits now come with higher accountability and compliance expectations.
Explains why liquidated damages are generally not subject to GST unless linked to a supply. Highlights the importance of distinguishing compensation from consideration.
The scheme provides a last opportunity for defaulting companies to file pending returns and financial statements with reduced penalties. It emphasizes that failure to comply within the window may lead to strict regulatory action, including strike-off.
Banks are asking CAs to issue end-use and KYC certificates without regulatory support. RBI confirms no such requirement exists, highlighting the need for professionals to avoid unauthorized certifications.
The Court ruled that ITC on GIDC charges is allowable where no construction is involved. It also held that Section 74 proceedings fail without fraud or suppression.
