Daily Tax & Corporate News & Updates
News Updates
Direct tax
Share Consideration Cannot be Split; Fifth Third Mauritius Holdings; ITAT…
The Mumbai ITAT held that the Revenue cannot recharacterize a portion of…
Forfeiture Essential For Taxation; Ravi Shankar Shetty, Karnataka HC
The Karnataka High Court held that advance money retained as an outstanding…
Make Available Test Clarified; Sasken Technologies, ITAT Bangalore
The ITAT Bangalore held that technical services qualify as “fees for included…
Foreign Tax Credit Relief Despite Procedural Defect; Dr. Sanghmitra Dasgupta,…
The ITAT deleted the penalty under section 270A, holding that a bona…
Indirect tax
Release of Perishable Goods Upon Compliance; Raja Supani, Calcutta HC
The Calcutta High Court directed the release of the detained consignment upon…
No Pre-Deposit Required; Reddy Veeranna, GSTAT Hyderabad
The GSTAT, Hyderabad Bench held that the amended pre-deposit requirement for penalty-only…
GST Jurisdiction Curtailed; Tata Unistore, GSTAT Thane
The GSTAT, Thane Bench held that GST authorities cannot invoke proceedings under…
Secondment Not Taxable Under GST; Alstom Transport, Gujarat HC
The High Court held that the secondment of employees by overseas group…
Audit & accounting
ICAI’s Global Networking Guidelines
ICAI has issued the ICAI (Global Networking) Guidelines, 2025, prescribing the framework…
Compendium of Information Systems Audit Standards released by ICAI
The ICAI has released a Compendium of Information Systems Audit Standards consolidating…
Effective Communication Between Statutory Auditors and Those Charged with Governance,…
This circular issued by NFRA emphasizes the need for robust, documented, and…
Computation of liquid net worth under IFSCA (Capital Market Intermediaries)…
Clarifies the components and methodology for computing liquid net worth of capital…
Corporate Laws
Accessibility Compliance Extended till 31 October 2026
The compliance deadlines under the Digital Accessibility Circulars have been extended till…
SEBI Clarifies Unlisted Share Sale
SEBI issued an informal guidance to IDBI Bank Limited regarding the proposed…
What regulatory clarifications did SEBI provide on the sale of…
SEBI has introduced the GARUDA (Green-Channel AIF Rollout Upon Document Acknowledgement) mechanism…
SEBI Expands PMS Investment Scope
SEBI has proposed comprehensive reforms to the Portfolio Managers Regulations, expanding investment…
SEBI Revamps Online Dispute Resolution
SEBI has proposed to streamline the Online Dispute Resolution (ODR) framework by…
Banking & Finance
NBFC Stressed Assets Framework Amended
RBI has amended the NBFC Resolution of Stressed Assets Directions, 2026 to…
NBFC Credit Directions Amended
RBI has amended the NBFC Credit Facilities Directions, 2026 to revise the…
RBI ombudsman FAQs updated
RBI updates FAQs on Integrated Ombudsman Scheme, 2026 to clarify grievance redressal…
RBI streamlines NBFC registration surrender
Voluntary Surrender of Certificate of Registration by NBFCs (including HFCs) for Cancellation…
RBI eases NBFC compliance norms
RBI Grants Exemption to NBFCs with No Public Funds and No Customer…
Other laws
Internet banking services to clients of IBUs amended
IFSCA has amended its earlier circulars on internet banking services for clients…
AI Copyright Issues for Trial: ANI Media v. Open AI, Delhi HC
The Delhi High Court refused to grant an interim injunction against OpenAI,…
IFSCA Insurance Regulations Consolidated
IFSCA Insurance Regulations Consolidated
IFSCA: Consolidated IFSCA (Finance Company) Regulations, 2026
IFSCA issues amended International Financial Services Centres Authority (Finance Company) Regulations, 2021…
Consultation Paper for FCSS Circular Issuance
IFSCA has issued Consultation Paper for issuing Circular on Foreign Currency Settlement…