Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
RBI amends the FEMA Non-Debt Instruments Regulations, 2019 to revise payment and remittance rules for certain equity and pension-related investments. For Schedule III, it specifies that consideration by individual persons resident outside India, including NRIs and OCIs, must be paid through inward remittance or repatriable deposit accounts, and allows sale proceeds of equity instruments, mutual fund units and NPS subscriptions to be remitted abroad or credited to permitted rupee or deposit accounts. For Schedule XI, it restates the payment channels for purchase or subscription of equity shares of Indian companies listed on international exchanges and permits sale proceeds to be remitted abroad or credited to the holder's permitted bank account. It also updates reporting under Form LEC (IFI) for such purchases or transfers on Indian stock exchanges.
RBI amends the FEMA Non-Debt Instruments Regulations, 2019 to revise payment and remittance rules for certain equity and pension-related investments. For Schedule III, it specifies that consideration by individual persons resident outside India, including NRIs and OCIs, must be paid through inward remittance or repatriable deposit accounts, and allows sale proceeds of equity instruments, mutual fund units and NPS subscriptions to be remitted abroad or credited to permitted rupee or deposit accounts. For Schedule XI, it restates the payment channels for purchase or subscription of equity shares of Indian companies listed on international exchanges and permits sale proceeds to be remitted abroad or credited to the holder's permitted bank account. It also updates reporting under Form LEC (IFI) for such purchases or transfers on Indian stock exchanges.
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