Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
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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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