Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
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Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
SEBI permits mutual funds to use intraday borrowing to manage liquidity mismatches caused by settlement timing differences. The facility may be used for unitholder pay-outs, scheme investment pay-ins, mark-to-market obligations, foreign exchange settlements and repayment of existing borrowings, subject to end-of-day repayment and regulatory limits if converted into overnight borrowing. AMC and trustee boards must approve a policy, publish it on the AMC website, maintain scheme-wise records of the mismatch and repayment source, and ensure compliance with the mutual fund regulations and master circular. Any borrowing cost or loss from delayed receivables must be borne by the AMC. The circular applies from 1 September 2026.
SEBI permits mutual funds to use intraday borrowing to manage liquidity mismatches caused by settlement timing differences. The facility may be used for unitholder pay-outs, scheme investment pay-ins, mark-to-market obligations, foreign exchange settlements and repayment of existing borrowings, subject to end-of-day repayment and regulatory limits if converted into overnight borrowing. AMC and trustee boards must approve a policy, publish it on the AMC website, maintain scheme-wise records of the mismatch and repayment source, and ensure compliance with the mutual fund regulations and master circular. Any borrowing cost or loss from delayed receivables must be borne by the AMC. The circular applies from 1 September 2026.
Note: It is a system-generated summary and is for quick reference only.
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