Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The regulator amends custodian regulations to take effect six months after Gazette notification, inserting "physical" custody, raising the net-worth threshold from fifty to seventy-five crore rupees (with a three-year transition for existing registrants) and requiring net worth to be maintained separately from activity-specific capital adequacy. Custodians may also offer other financial services subject to conditions if not tied to a banking group. New provisions impose specified obligations on governance, risk management, scalable infrastructure, orderly wind-down planning and cooperation with the regulator, and expand conduct, disclosure, internal controls, client grievance, fitness-and-proper and reporting duties in the schedule.
The regulator amends custodian regulations to take effect six months after Gazette notification, inserting "physical" custody, raising the net-worth threshold from fifty to seventy-five crore rupees (with a three-year transition for existing registrants) and requiring net worth to be maintained separately from activity-specific capital adequacy. Custodians may also offer other financial services subject to conditions if not tied to a banking group. New provisions impose specified obligations on governance, risk management, scalable infrastructure, orderly wind-down planning and cooperation with the regulator, and expand conduct, disclosure, internal controls, client grievance, fitness-and-proper and reporting duties in the schedule.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
