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...
The central bank amends the Debt Instruments Regulations to permit persons resident outside the country who maintain rupee accounts under the Deposit Regulations (reg. 7(1)) to buy or sell dated government securities, treasury bills, non-convertible debentures/bonds and commercial paper issued by domestic companies, subject to terms and conditions set by the central bank. Payments for such purchases must be made from funds held in the specified rupee accounts. The amendments take effect on publication in the Official Gazette.
The central bank amends the Debt Instruments Regulations to permit persons resident outside the country who maintain rupee accounts under the Deposit Regulations (reg. 7(1)) to buy or sell dated government securities, treasury bills, non-convertible debentures/bonds and commercial paper issued by domestic companies, subject to terms and conditions set by the central bank. Payments for such purchases must be made from funds held in the specified rupee accounts. The amendments take effect on publication in the Official Gazette.
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TaxTMI 
TaxTMI 
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