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No TDS on Payments to Credit Guarantee Fund Trust for MSEs Referred in Section 10(46B) | CBDT
Notification No. 128/2024, dated 19-12-2024 Section 197A prescribes that no deduction of tax shall be made, or deduction of tax shall be made at such lower rate, from such payment to such person or class of persons, including institution, association or body or class of institutions, associations or bodies, as may be notified by the […]
[World Tax News] Russia Enacted the Law on the Taxation of Cryptocurrency and More
Editorial Team – [2024] 169 taxmann.com 435 (Article) World Tax News provides a weekly snippet of tax news from around the globe. Here is a glimpse of the tax happening in the world this week. 1. Russia enacted the law on the taxation of cryptocurrency; 2. Dutch Government announces delay in Box 3 tax system […]
SEBI Board Approves SME IPO Norm Changes | Mandates ‘Rs. 1 Crore’ Operating Profit in 2 of 3 Preceding Years for DRHP Filing
PR No.36/2024, Dated: 18.12.2024 SEBI, in its 208th Board Meeting, approved several amendments to regulations, including measures to enhance ease of doing business related to Business Responsibility & Sustainability Reporting, a review of the SME framework under ICDR Norms, a review of Merchant Bankers Regulations, etc. The Board has approved amendments to the SEBI (LODR) […]
FPIs Must Issue ODIs Exclusively Through a Separate FPI Registration Ensuring No Proprietary Investments | SEBI
Circular No. SEBI/HO/AFD/AFD-POD-3/P/CIR/2024/176; Dated: 17.12.2024 SEBI has issued measures to address regulatory arbitrage regarding Offshore Derivative Instruments (ODIs) and FPIs with segregated portfolios. An FPI must issue ODIs only through a separate dedicated FPI registration with no proprietary investments. Such registration must be in the name of the FPI with ‘ODI’ as a suffix under […]
No Pro-Rata Rights for Defaulting AIF Investors | SEBI
Circular SEBI/HO/AFD/AFD-POD-1/P/CIR/2024/175 dated 13-12-2024 Earlier, the SEBI had notified the norms w.r.t pro-rata and pari-passu rights of investors of AIFs. Now, SEBI has specified that the investors that has defaulted on providing his/her pro-rata contribution for the said investment will not be eligible for pro-rata rights. Further, the requirement of maintaining pro-rata rights of investors […]
Debenture Trustees Can Start New Business Verticals with RBI Consent, Ensuring No Conflict with Trusteeship | SEBI
Informal Guidance No. SEBI/HO/DDHS/PoD-3/P/OW/2024/29617/1, Dated 16.09.2024 A company sought informal guidance on whether a SEBI-registered Debenture Trustee (DT) can start a new business vertical for marketing CASA deposits, retail loans, and engaging DSAs for its parent company. SEBI clarified that a DT can start a new business vertical. However, they must report to SEBI every […]
Guidance Note 2/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024
Publish Date : Monday, December 16, 2024 source
Order Quashed as Various Contentions Raised by Assessee in Reply Were Not Considered and Personal Hearing Was Not Granted | HC
Case Details: Rays Power Infrastructure (P.) Ltd. v. Assistant Commissioner of Commercial Taxes - [2024] 169 taxmann.com 151 (Karnataka) Judiciary and Counsel Details C.M. Poonacha, J. H.R. Kambiyavar, Patri Shahikala K. & Smt. Joshna P. Dhanave, Advs. for the Petitioner. Shivaprabhu S. Hiremath, AGA, Venkatesh M. Kharvi & Girish Hulmani, Advs. for the Respondent. Facts of the Case The assessee was […]
Issuance and Dropping of Notice Under Section 73 Does Not Prevent Authorities from Initiating Proceedings u/s 74 | HC
Case Details: Group M Media India (P.) Ltd. v. Union of India - [2024] 169 taxmann.com 146 (Punjab & Haryana) Judiciary and Counsel Details Sanjeev Prakash Sharma & Sanjay Vashisth, JJ. Tarun Gulati, Sr. Adv., Nikhil Goyal & Ms Anishka Gupta, Advs. for the Petitioner. Facts of the Case The petitioner was issued a notice under section 73 […]
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