Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
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Regulations amend the 2018 framework for depositories and participants, effective 30 days after publication. They expand board composition to include executive directors and redefine regulation 26 to cover appointment, role, and responsibilities of the managing director, who must manage overall affairs, compliance, risk, public-interest functions under Verticals 1 and 2, and infrastructure adequacy. A new regulation 26A mandates each depository to appoint at least two executive directors heading Verticals 1 and 2, with status, tenure, age limits, and appointment processes aligned with the managing director, and board-service restrictions. New regulations 81B and 81C require appointment of a chief technology officer and chief information security officer with specified technology, cybersecurity, and risk-management functions.
Regulations amend the 2018 framework for depositories and participants, effective 30 days after publication. They expand board composition to include executive directors and redefine regulation 26 to cover appointment, role, and responsibilities of the managing director, who must manage overall affairs, compliance, risk, public-interest functions under Verticals 1 and 2, and infrastructure adequacy. A new regulation 26A mandates each depository to appoint at least two executive directors heading Verticals 1 and 2, with status, tenure, age limits, and appointment processes aligned with the managing director, and board-service restrictions. New regulations 81B and 81C require appointment of a chief technology officer and chief information security officer with specified technology, cybersecurity, and risk-management functions.
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