Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
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).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
