Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
RBI circular addresses reporting requirements for partly paid units issued by investment vehicles to non-resident investors. Investment vehicles are mandated to file Form InVI within 30 days of unit issuance. For units issued prior to this circular, a special 180-day reporting window is provided without late submission penalties. Subsequent issuances must adhere to the original 30-day reporting timeline under Foreign Exchange Management (Non-debt Instruments) Regulations, 2019. The directive becomes immediately effective, empowering AD Category-I banks to implement these guidelines and notify relevant constituents, with legal authority derived from FEMA sections 10(4) and 11(1).
RBI circular addresses reporting requirements for partly paid units issued by investment vehicles to non-resident investors. Investment vehicles are mandated to file Form InVI within 30 days of unit issuance. For units issued prior to this circular, a special 180-day reporting window is provided without late submission penalties. Subsequent issuances must adhere to the original 30-day reporting timeline under Foreign Exchange Management (Non-debt Instruments) Regulations, 2019. The directive becomes immediately effective, empowering AD Category-I banks to implement these guidelines and notify relevant constituents, with legal authority derived from FEMA sections 10(4) and 11(1).
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