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Matter Remanded as Opportunity for Hearing Was Not Granted to Assessee to Explain Discrepancies | HC
Case Details: Tvl. S S Enterprises Electricals v. State Tax Officer - [2025] 170 taxmann.com 734 (Madras) Judiciary and Counsel Details Mohammed Shaffiq, J. Abdul Rahman for the Petitioner. Ms Amrita Dinakaran, Govt. Adv. for the Respondent. Facts of the Case The petitioner was engaged in works contract and dealer in electrical transformers, static converters and is […]
[Analysis] Union Budget 2025 | TDS/TCS Amendments in Finance Bill 2025
The Finance Bill 2025 introduced key amendments to the TDS/TCS framework aimed at simplifying compliance and boosting ease of doing business. Notably, the TDS rate under Section 194LBC for income payable by a securitisation trust is reduced from 25%/30% to 10%. Additionally, the bill raises the threshold limits for TDS applicability across various sections—covering areas […]
ICAI Has Released the Draft Bank Branch Auditors’ Panel (MEF) for 2024-25
The Institute of Chartered Accountants of India (ICAI) has released the Draft Bank Branch Auditors’ Panel (MEF) for 2024-25, in line with the Reserve Bank of India’s norms. Applicants can access their details, such as MEF Number, Firm Registration Number (FRN), and category, by entering relevant information on the MEF portal. The draft panel is […]
SEBI Clarifies on Provisions w.r.t. Association of MIIs and Their Agents With Individuals Involved in Prohibited Activities
Circular No. SEBI/HO/MIRSD/ MIRSD-PoD-1/P/CIR/2025/11, Dated: 29.01.2025 SEBI has issued a circular, addressing provisions related to the association of persons regulated by the Board, Market Infrastructure Institutions (MIIs), and their agents with individuals engaged in prohibited activities. The circular explains which regulations govern such associations, defines who qualifies as a ‘person regulated by the Board,’ and […]
RBI Aligns ‘Housing Finance Companies’ Private Placement Norms for NCDs (Maturity >1 Year) With NBFC Guidelines
Circular No.RBI/2024-25/107 DOR.FIN.REC.No.58/03.10.136/2024-25, Dated: 29.01.2025 RBI has decided that the guidelines on Private Placement of NCDs (with maturity of more than one year) by NBFCs, as per the Master Direction – RBI (NBFC – Scale Based Regulation) Directions, 2023 shall be applicable, mutatis-mutandis, to Housing Finance Company (HFCs). Accordingly, the existing guidelines under Master Direction […]
RBI Files Application for Initiation of CIRP Against ‘Aviom India Housing Finance Pvt. Ltd’ Under IBC on Jan 30, 2025
Press Release: 2024-2025/2038; Dated: 30.01.2025 RBI has filed an application for initiation of CIRP against ‘Aviom India Housing Finance Pvt. Ltd’ under IBC read with Financial Service Providers Insolvency Rules, 2019 at the New Delhi Bench of the Hon’ble National Company Law Tribunal. As per the rules, an interim moratorium must commence on and from […]
Weekly Round-up on Tax and Corporate Laws | 20th to 25th January 2025
This weekly newsletter analytically summarises the key stories reported at taxmann.com during the previous week from January 20th to 25th, 2025, namely: Principal Purpose Test (PPT) under DTAA to be applied prospectively: CBDT; RBI directs banks to ensure nominations for accounts and lockers; Waiver in late fees for pending GSTR-9C for FY 2017-18 to 2022-23 […]
Anticipatory Bail to Be Granted to Applicant as ITC Was Reversed and Co-Accused Had Already Been Granted Bail | HC
Case Details: Deepak Kumar v. State of Haryana - [2025] 170 taxmann.com 597 (Punjab & Haryana) Judiciary and Counsel Details N.S. Shekhawat, J. Ms Neha Bindal & Satbir Singh Gill, Advs. for the Petitioner. Rajinder Kumar Banku, Deputy Adv. General for the Respondent. Facts of the Case The petitioner was involved in a case where a fake […]
Income-tax (First Amendment) Rules, 2025
Publish Date : Tuesday, January 21, 2025 source
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