Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The GoI notification precludes tax deductions for expenditures related to settling proceedings involving contraventions under specified financial regulatory statutes, including SEBI Act, Securities Contracts (Regulation) Act, Depositories Act, and Competition Act. The Central Government, exercising powers under Income Tax Act section 37(1), explicitly disallows tax deductions for settlement expenses arising from legal proceedings initiated due to defaults or violations in these regulatory frameworks. The notification becomes effective upon official gazette publication, mandating strict compliance and eliminating potential tax benefits for legal settlement costs in financial and competitive regulatory domains.
The GoI notification precludes tax deductions for expenditures related to settling proceedings involving contraventions under specified financial regulatory statutes, including SEBI Act, Securities Contracts (Regulation) Act, Depositories Act, and Competition Act. The Central Government, exercising powers under Income Tax Act section 37(1), explicitly disallows tax deductions for settlement expenses arising from legal proceedings initiated due to defaults or violations in these regulatory frameworks. The notification becomes effective upon official gazette publication, mandating strict compliance and eliminating potential tax benefits for legal settlement costs in financial and competitive regulatory domains.
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