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    GST refund deficiency memos must specify exact defects; vague RFD-03 notices cannot sustain rejection of refund claims
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      SEBI has modified nomination norms for demat accounts and mutual...

      Modified nomination norms ease demat and mutual fund account opening, with mandatory nomination for single accounts unless opted out.

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      SEBIJune 1, 2026Circulars
      SEBI has modified nomination norms for demat accounts and mutual fund folios to simplify investor on-boarding and the nomination process. For single accounts opened on or after the implementation date, nomination is mandatory unless the investor submits an opt-out declaration; nomination remains optional for jointly held accounts, but any addition or change requires the consent of all joint holders. Investors may appoint up to three nominees, choose online or offline submission, and provide only mandatory particulars while optional details may be furnished at their choice. Regulated entities must keep the nomination facility, acknowledgements, statement disclosures, and nudges for non-nominated accounts. The circular applies from 1 September 2026 and supersedes earlier nomination circulars.

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      ActsIncome Tax