Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
SEBI amends the Alternative Investment Funds Regulations to require scheme applications to be filed with prescribed fees, while exempting an AIF's first scheme from scheme fees. The filing period under regulation 12(2) is reduced to ten working days, and the requirement is revised from submitting fees to submitting Board-specified documents. SEBI may provide comments after filing, which the merchant banker or manager must ensure are complied with. The filing, comment and compliance requirements do not apply to an Accredited Investors only fund. The amendments also remove the requirement to act through a merchant banker under regulation 19D(4) and omit regulation 19D(5).
SEBI amends the Alternative Investment Funds Regulations to require scheme applications to be filed with prescribed fees, while exempting an AIF's first scheme from scheme fees. The filing period under regulation 12(2) is reduced to ten working days, and the requirement is revised from submitting fees to submitting Board-specified documents. SEBI may provide comments after filing, which the merchant banker or manager must ensure are complied with. The filing, comment and compliance requirements do not apply to an Accredited Investors only fund. The amendments also remove the requirement to act through a merchant banker under regulation 19D(4) and omit regulation 19D(5).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4790
Join Channel
TaxTMI 
