SEBI Amends REITs Regulations, 2014 | Introduces a New Chapter on ‘Small and Medium REITs’
Notification No. SEBI/LAD-NRO/GN/2024/166; Dated: 08.03.2024 SEBI has notified the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2024. A new chapter VIB relating to ‘Small and Medium REITs’ has been inserted to the existing regulations. The term “Small and Medium REIT” (SM REIT) refers to a REIT that pools money from investors under one or more […]
CCI Notifies Norms w.r.t Determination of Turnover or Income Under the Act | Clears the Ambiguity
Notification No. B-14011/2/2024-ATD-II; Dated: 06.03.2024 The CCI has notified the CCI (Determination of Turnover or Income) Regulations, 2024. The regulation deals with the determination of turnover or income for enterprise and the other part deals with the determination of income for individual. This would clarify norms regarding the imposition of penalties in cases of violation, […]
Income From Profits and Gains of Business and Profession (PGBP) – Taxable Earnings | Deductions | Disallowed Expenses
Table of Contents Sections Summary Meaning of Business and Profession Incomes chargeable as PGBP Income not taxable under Expenditures allowed as deduction Specific Deductions Disallowed Expenses Check out Taxmann’s Direct & Indirect Taxation (DITX | DT & IDT) | CRACKER which covers all past exam questions & point-wise answers (as per the latest applicable provisions & […]
Delhi Govt. Issued Instruction Regarding Rectification of Assessment Orders u/s 161
Instruction F. No. 3(543)/GST/POLICY/2024/1312-18, dated March 1st, 2024 The Delhi Government has received several representations to allow rectification of demand orders and therefore instructions are issued for rectification of demand order pertaining to FY 2017-18 which have apparent errors including arithmetical errors or clerical mistakes. The following types of cases have been brought to the […]
SEBI Broadens the List of Goods for Purpose of Commodity Derivatives u/s 2(bc) of SCRA, 1956
Circular No. SEBI/HO/MRD/MRD-PoD-1/P/CIR/2024/13, Dated: 05.03.2024 Earlier, the Govt. notified the list of goods specified in the Schedule as commodity derivatives under section 2(bc) of the SCRA, 1956. Now, the SEBI has broadened the list of goods for the purpose of commodity derivatives. SEBI has expanded the list of goods from 91 to 104, introducing 13 […]
Activity Based Costing (ABC) – Meaning | Features | Benefits
Table of Contents Introduction Features of ABC Key Terms Used in Activity Based Costing Steps Involved in the Process of Activity Based Costing (ABC) Benefits and Weaknesses of ABC Conclusion Check out Taxmann’s Cost Accounting which takes a comprehensive approach to explain the principles of cost accounting, emphasizing accuracy in cost ascertainment and efficiency in […]
[Analysis] Bharatiya Nyaya Sanhita (BNS) 2023 – An Overview
By Prof. (Dr.) Vageshwari Deswal – Professor | Faculty of Law | University of Delhi Table of Contents Decoding the title Section 1 BNS (Bharatiya Nyaya Sanhita) – Short Title, Commencement and Application Jurisdiction [S. 1(3)(4)(5)] Exceptions to Applicability of BNS Bharatiya Nyaya Sanhita, 2023 – Scheme of Chapters Section 4: Punishments Offences for which […]
Govt. Notifies ‘Contract for the Purchase or Sale of a Right to Buy or Sell’ as a Derivative Under SCRA, 1956
Notification No. S.O. 1003(E); Dated: 01.03.2024 The Ministry of Finance has declared a ‘contract for the purchase or sale of a right to buy or sell, or a right to buy and sell in future, with such underlying goods’ as notified under section 2(bc) of the Securities Contracts (Regulation) Act, 1956 as a derivative for […]
Unregistered Framework Agreement As Such Can’t Be Looked into as an Evidence for Any Collateral Purpose | NCLT
Case Details: Yes Bank Ltd. v. Sarga Hotel (P.) Ltd. – [2024] 160 taxmann.com 4 (NCLT – Kolkata) (SB) Judiciary and Counsel Details Smt. Bidisha Banerjee, Judicial Member & Balraj Joshi, Technical Member Ramji Srinivasan, Abhinav Vasisht, Sr. Advs. Abhrajit Mitra, Ms Manju Bhuteria, Souvik Mazumdar, Ms Pooja Mahajan, Ms Mahima Singh, Shreya Mahalwar, Ms Mehak Nayak, Saptarshi Saha, Arindam Mrinal Pal, Sarvapriya Mukherjee & Saurav Jain, Advs. for […]
RBI Revises Regulatory Framework for ‘Bharat Bill Payment Systems’ Streamlining the Bill Payment Processes
Master Directions No. RBI/DPSS/2023-24/111CO.DPSS.POLC.No.S1114/02-27-020/2023-2024; Dated: 29.02.2024 RBI has put in place a revised regulatory framework for the Bharat Bill Payment Systems (BBPS). The framework aims to streamline the process of bill payments, enable greater participation, and enhance customer protection among other changes. It shall apply to NPCI Bharat Bill Pay Limited (NBBL – a wholly […]