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...
Amendments to the Foreign Exchange Management (Borrowing and Lending) Regulations, 2026 consolidate External Commercial Borrowing (ECB) provisions and certain INR borrowing rules into the Regulations and remove overlapping provisions from existing Master Directions and ECB FAQs; specifically, specified paragraphs of the Master Direction on ECB and of the Master Direction on INR borrowing by residents and Part I of the ECB FAQs are deleted. Authorised Dealer Category I banks must apply the amended Regulations when facilitating covered borrowing and lending transactions and notify affected customers; the changes are issued under statutory FEMA powers.
Amendments to the Foreign Exchange Management (Borrowing and Lending) Regulations, 2026 consolidate External Commercial Borrowing (ECB) provisions and certain INR borrowing rules into the Regulations and remove overlapping provisions from existing Master Directions and ECB FAQs; specifically, specified paragraphs of the Master Direction on ECB and of the Master Direction on INR borrowing by residents and Part I of the ECB FAQs are deleted. Authorised Dealer Category I banks must apply the amended Regulations when facilitating covered borrowing and lending transactions and notify affected customers; the changes are issued under statutory FEMA powers.
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TaxTMI 
TaxTMI 
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