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...
Regulator issues a circular streamlining surrender of KYC Registration Agency (KRA) registrations, requiring KRAs to adopt board-approved SOPs for orderly voluntary or involuntary winding down, including transfer of complete KYC records with audit trails to a transferee KRA, stakeholder notification, an Oversight Committee, continued limited operations until secure data migration, audits and jointly signed compliance reports, settlement of dues, and maintenance of investor support. SOPs must be published within 90 days and reviewed periodically; regulatory powers permit inspections, appointment of administrators or direct nomination of transferee KRAs and case-specific overrides to protect investors and market stability.
Regulator issues a circular streamlining surrender of KYC Registration Agency (KRA) registrations, requiring KRAs to adopt board-approved SOPs for orderly voluntary or involuntary winding down, including transfer of complete KYC records with audit trails to a transferee KRA, stakeholder notification, an Oversight Committee, continued limited operations until secure data migration, audits and jointly signed compliance reports, settlement of dues, and maintenance of investor support. SOPs must be published within 90 days and reviewed periodically; regulatory powers permit inspections, appointment of administrators or direct nomination of transferee KRAs and case-specific overrides to protect investors and market stability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
