SEBI has suggested allowing AIFs to retain funds beyond scheme tenure where liquidation is delayed by litigation or tax demands. The proposal aims to reduce compliance burden while ensuring investor safeguards.
Officers say compressed timelines are being enforced despite persistent ITBA issues and staff shortages. The key takeaway is a call for realistic deadlines or statutory extensions to protect assessment quality.
Authorities confirmed that insurers have not increased premiums after the GST exemption and have fully passed on the tax relief. Continuous monitoring of new and renewal policies was undertaken to ensure consumer benefits are protected.
Authorities have issued show cause notices to companies that failed to file VOPPA returns, underscoring strict enforcement of registration and reporting norms.
The Government clarified that it does not plan to expand mandatory women board representation beyond current legal provisions. Existing company law and SEBI rules already require woman directors for listed and large public companies.
The government outlined year-wise collections and utilisation of major cesses and surcharges, confirming they are credited to the Consolidated Fund and used for designated development and welfare purposes.
The Government reaffirmed that HUFs are assessable units solely for income tax purposes and lack corporate status. They cannot collect public money or operate as NBFCs or chit funds.
UIDAI has removed Aadhaar numbers of deceased persons to prevent fraud and unauthorized benefit claims, reinforcing database integrity through continuous sanitization.
Authorities found Dubai property acquisitions by Indian residents routed through hawala, leading to action for violations of FEMA and seizure of equivalent assets in India.
A focused session breaks down recent Budget amendments affecting NRI taxation. It highlights how changes impact income, investments, and compliance, with practical guidance to avoid costly errors.
