Navasree A.M

21 hours ago | taxscan.in | Navasree A.M

The Securities and Exchange Board of India ( SEBI ) has extended the additional liquidation period for Venture Capital Funds ( VCFs ) migrating to the SEBI (Alternative Investment Funds) Regulations, 2012. This extension provides regulatory relief to VCFs operating under the erstwhile SEBI (Venture Capital Funds) Regulations, 1996, as they transition to the more contemporary SEBI (Alternative Investment Funds) Regulations, 2012.

22 hours ago | taxscan.in | Navasree A.M

Two forms, Form 16 and Form 16A, are essential to the process for millions of Indian taxpayers as the income tax return ( ITR ) filing season gets started. For correct, simple payment of taxes, it is essential that you understand their responsibilities and differences. When you get Form 16 promptly after the financial year ends, you can start preparing and filing your Income Tax Return well before the due date (typically July 31 for individuals).

23 hours ago | taxscan.in | Navasree A.M

In a recent ruling, the Allahabad High Court ruled that a Goods and Services Tax ( GST ) demand order should not exceed beyond the scope of the show cause notice ( SCN ). The court found it as a violation of Section 75(7) of GST Act. The petitioner, M/s Vrinda Automation contended that the excessive demand was not only disproportionate but also unlawful, as the order was passed without proper communication or opportunity to respond.

23 hours ago | taxscan.in | Navasree A.M

The Reserve Bank of India ( RBI ) has issued comprehensive and harmonised directions titled “Reserve Bank of India (Lending Against Gold and Silver Collateral) Directions, 2025”, applicable across all regulated entities ( REs ) including commercial banks, co-operative banks, and NBFCs. It has superseded all 31 circulars issued from 1964 to 2023.

2 days ago | taxscan.in | Navasree A.M

With regards to the applicability of Goods and Services Tax ( GST ) on the transfer of leasehold rights, the Allahabad High Court has stayed the recovery of tax until further orders, observing that such transactions may fall outside the ambit of supply under Section 7(1)(a) of the CGST Act, 2017. The high court's decision is based largely on a Gujarat High Court precedent...