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SEBI Mandates AMCs of Mutual Funds to Subscribe Units of Corporate Debt Market Development Fund (CDMDF)
Circular No. SEBI/HO/IMD/PoD2/P/CIR/2023/129, Dated: 27.07.2023 SEBI has decided that the units of the Corporate Debt Market Development Fund (CDMDF) shall be subscribed by AMCs of Mutual Funds and “specified debt-oriented MF Schemes”. Accordingly, Debt-oriented MF schemes and AMC’s contributions, along with any appreciation, will be locked-in until the fund winds up. SEBI has further provided […]
SEBI Amends Mutual Fund Trustee’s ‘Half-Yearly Report’ Format
Circular No. SEBI/HO/IMD/IMD-I –PoD1/P/CIR/2023/126, Dated: 26.07.2023 As per Master Circular on Mutual Funds, the Trustees shall have arrangements with independent firms for special purpose audit and/or to seek legal advice. Accordingly, SEBI has now modified the Half Yearly Trustee Report format, as provided in Master Circular. The modified format includes for ‘Compliance with the requirement […]
Hon’ble Union Finance Minister Smt Nirmala Sitharaman presides over the 164th Income Tax Day celebrations at Delhi
Details : Publish Date : Monday, July 24, 2023 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1143/PressRelease-Smt-Nirmala-Sitharaman-presides-over-164th-Income-Tax-Day-celebrations-at-Delhi-26-7-23.pdf source
[Opinion] Understanding Alternate Directors | Significance, Role, and Grey Areas
Anoop Deshpande & Miloni Mau – [2023] 152 taxmann.com 601 (Article) Background The concept of Alternate Director (“AD”) continues to be recognized under Companies Act, 2013 (“CA 2013”). Section 161 of CA 2013, inter-alia, provides that the Board, subject to authorisation under Articles of Association or by shareholders, can appoint AD for a director (“Main […]
No Separate Registration Required for Tri-party Repo Segment Participation
Notification No. SEBI/LAD-NRO/GN/2023/140, Dated 24.07.2023 The SEBI has notified (Stock Brokers) (Second Amendment) Regulations, 2023. The amendment has been notified in Regulation 10 A i.e., Application for registration. A new proviso to the regulation has been inserted. Now, no separate registration shall be required for any person registered with the limited purpose clearing corporation as […]
High Court Rules on Improperly Levied Penalties on Goods in Transit Lacking Proper Documentation
Case Details: Margo Brush India v. State of U.P. - [2023] 152 taxmann.com 515 (Allahabad) Judiciary and Counsel Details Rajesh Bindal, CJ. & J.J. Munir, J. Aaditya Pandey & Akhil Agnihotri, Advs. for the Petitioner. Ankur Agarwal, Standing Counsel for the Respondent. Facts of the Case In the present case, the goods in transit were seized by the […]
Clarification regarding taxability of income earned by a non-resident investor from off-shore investments in investment fund routed through an Alternative Investment Fund
Publish Date : Wednesday, July 12, 2023 source
HC Dismissed Writ Petition Against Preliminary Reports, Objections Sought from Petitioner for Investigation
Case Details: Hahnemann’s Jac Olivol Group of Products (P.) Ltd. v. Deputy Commissioner of State Tax - [2023] 152 taxmann.com 514 (Calcutta) Judiciary and Counsel Details MD. Nizamuddin, J. Ankit Kanodia, Ms Megha Agarwal & Jitesh Sah, Advs. for the Appellant. A. Ray, T.M. Siddiqui, T. Chakraborty & S. Sanyal, Advs. for the Respondent. Facts of the Case In the present petition, […]
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