AO wasn’t justified in taxing salary income earned outside India just because assessee couldn’t produce TRC

INCOME TAX : Where assessee-employee, a NRI, received salary income and other allowances in India against employment exercised in Belgium and offered same for taxation in Belgium, in pursuance of…

Continue ReadingAO wasn’t justified in taxing salary income earned outside India just because assessee couldn’t produce TRC

SC refuses to review its judgment whereby it directed RBI to disclose info about banks under RTI

FEMA amp; BANKING: Where applicant-banks filed application before Supreme Court seeking recall of order passed in Reserve Bank of India v. Jayantilal N. Mistry (2016) 3 SCC 525 whereby Court…

Continue ReadingSC refuses to review its judgment whereby it directed RBI to disclose info about banks under RTI

CIT was empowered to cancel trust registration even prior to 01-6-2010 if activities of trust weren’t genuine

INCOME TAX : Principal Commissioner or Commissioner was vested with power even prior to 1-6-2010 to cancel registration made under section 12A, if Commissioner was satisfied that activities of such…

Continue ReadingCIT was empowered to cancel trust registration even prior to 01-6-2010 if activities of trust weren’t genuine

SEBI relaxes compliance of certain provisions of LODR Regulations due to COVID- 19 pandemic

SEBI is in receipt of representations from listed entities, professional bodies, industry associations, market participants etc. requesting extension of timelines for various filings and relaxation from certain compliance obligations due…

Continue ReadingSEBI relaxes compliance of certain provisions of LODR Regulations due to COVID- 19 pandemic

AMCs must disclose ‘risk-o-meter’ of scheme while disclosing the performance of scheme: SEBI

In order to enhance the quality of disclosure w.r.t. risk and performance and portfolio of the schemes, the SEBI has decided to disclose risk-o-meter’ of scheme while disclosing the performance…

Continue ReadingAMCs must disclose ‘risk-o-meter’ of scheme while disclosing the performance of scheme: SEBI