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SEBI Introduces Mark-to-Market Basis Valuation for Repurchase (Repo) Transactions by Mutual Funds
Circular No. SEBI/HO/IMD/IMD-I PoD-1/P/CIR/2024/163; Dated: 26.11.2024 SEBI has introduced mark-to-market basis valuation for repurchase (repo) transactions (including tri-party repo, i.e. TREPS) with a tenor of up to 30 days by Mutual Funds. This is done to ensure uniformity in the valuation methodology of all money market and debt instruments and address concerns of unintended regulatory […]
PAN 2.0 Project of the CBDT receives CCEA Approval
Publish Date : Tuesday, November 26, 2024 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1214/Press-Release-PAN-2.0-Project-of-the-CBDT-receives-CCEA-Approval-dated-27-11-2024.pdf source
[Analysis] Market Infrastructure Institutions – SEBI’s New Governance Framework
SEBI's governance reforms for Market Infrastructure Institutions (MIIs) aim to enhance transparency, accountability, and regulatory oversight. Key proposals include a structured process for the appointment, re-appointment, and termination of Key Managerial Personnel (KMPs) involving independent external agencies, the Nomination and Remuneration Committee (NRC), and SEBI. The reforms also introduce a policy for a minimum cooling-off […]
CA Can Be Held Guilty of Professional Misconduct if He Is ‘Grossly Negligent’ in Duties | HC
Case Details: Institute of Chartered Accountants of India vs. CA Shri Subhajit Sahoo - [2024] 168 taxmann.com 501 (Delhi) Judiciary and Counsel Details Vibhu Bakhru & MS. Swarana Kanta Sharma, JJ. Aldanish Rein, Adv. for the Petitioner. Deep Bisht, Sarthak Gupta, Gaurav Kumar, Ms Pooja Bhardwaj, Advs. & Asheesh Jain, CGSC for the Respondent. Facts of the Case The […]
Taxpayers' Lounge of Income Tax Department set up at IITF, 2024
Publish Date : Monday, November 18, 2024 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1213/Press-Release-Taxpayers-Lounge-of-Income-Tax-Department-set-up-at-IITF-2024.pdf source
Petitioner Can’t Escape Audit Proceedings on the Grounds of Registration Cancellation on Date of Audit | HC
Case Details: LJ-Victoria Properties (P.) Ltd. v. Union of India - [2024] 168 taxmann.com 436 (Bombay) Judiciary and Counsel Details M.S. Sonak & Jitendra Jain, JJ. Mahesh Raichandani & Jasmine Dixit, UBR Legal for the Petitioner. Himanshu Takke, for the Respondent. Facts of the Case After conducting business for three years, the petitioner applied for cancellation of […]
Writ Dismissed as Assessee Failed to Appeal Against Order Within the Time Period as Directed by the Coordinate Bench | HC
Case Details: Radhey Traders v. State of UP - [2024] 168 taxmann.com 272 (Allahabad) Judiciary and Counsel Details Arun Bhansali, CJ. & Vikas Budhwar, J. Aditya Pandey for the Petitioner. Facts of the Case In the present case, the petitioner had filed writ petition earlier against the demand order and contended that order was passed without service […]
CBDT extends due date for furnishing Return of Income for the Assessment Year 2024-25 under the Income-tax Act, 1961 (the Act)
Publish Date : Saturday, October 26, 2024 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1209/CBDT-extends-due-date-for-furnishing-Return-of-Income-for-the-Assessment-Year-2024-25-26.10.2024.pdf source
SEBI Amends Buy-Back Regulations | Excludes Shares Held by Non-Participating Promoters from Entitlement Ratio
Notification No. SEBI/LAD-NRO/GN/2024/210; Dated: 20.11.2024 SEBI has notified the SEBI (Buy-Back of Securities) (Second Amendment) Regulations, 2024. A new proviso has been inserted to Regulation 4(iv)(a) relating to the conditions and requirements for the buyback of shares and specified securities. It states that if any member of the promoter/promoter group has declared its intention not […]
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