Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
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...
The circular mandates that the key investment team of an Alternative Investment Fund (AIF) manager must have at least one key personnel with a specified certification. The certification requirement, u/s Regulation 4(g)(i) of SEBI (AIF) Regulations, 2012, came into force on May 10, 2024. The key personnel must pass the NISM Series-XIX-C exam. Existing AIF schemes and pending scheme applications must comply by May 9, 2025. The trustee/sponsor must ensure compliance and include it in the Compliance Test Report. The circular is u/s Section 11(1) of SEBI Act, 1992, to safeguard investor interests and regulate the securities market.
The circular mandates that the key investment team of an Alternative Investment Fund (AIF) manager must have at least one key personnel with a specified certification. The certification requirement, u/s Regulation 4(g)(i) of SEBI (AIF) Regulations, 2012, came into force on May 10, 2024. The key personnel must pass the NISM Series-XIX-C exam. Existing AIF schemes and pending scheme applications must comply by May 9, 2025. The trustee/sponsor must ensure compliance and include it in the Compliance Test Report. The circular is u/s Section 11(1) of SEBI Act, 1992, to safeguard investor interests and regulate the securities market.
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