Government appoints IAS Sanjay Malhotra as the 26th Governor of the Reserve Bank of India
The 25th Governor of the Reserve Bank of India, Shaktikanta Das, served at the post for 6 years.
Ministry of Finance
Section 128-A of CGST Act notified providing relief to taxpayers having old tax obligations
Taxpayers are not required to pay extra interest or penalties on their previous tax obligations.
MoF notifies new rules for compounding under FEMA
Payment of the amount compounded will be done electronically and within 15 days from the date of compounding order.
Supreme Court permits bank employees who secured job under SC/ST category to retain jobs despite caste descheduling by Karnataka Government
Supreme Court reiterated that neither State Government nor Courts have the authority to modify Scheduled Castes list promulgated by Presidential order
Indexation Benefits on Capital Gains — An Analysis
by Bharathi Krishnaprasad* and Krishna Laasya**
Legislative Flaws in Arbitration Law
by Justice Basu Deo Agarwal*
Highlights of Budget 2024-2025: Focus on Employment & Skilling, MSMEs and Middle Class
Priorities for Viksit Bharat, revised tax structure, exemption of three cancer drugs from custom duty, abolishment of angel tax, simplification of capital gains taxation and more
‘The Memorandum’s intent appears to be protectionist’: The Arbitration Bar of India requests Ministry of Finance to withdraw memorandum on arbitration
“This Memorandum comes at a time when the world is looking to India to provide leadership in all spheres; more so given its economic heft. Instead of charting a path of growth by allowing businesses to realize their full potential, this Memorandum will potentially inhibit investment.”
CCPA publishes Rules for Employees of Central Authority
Central Consumer Protection Authority (Recruitment, Salary, Allowances and other Terms and Conditions of Service of Officers and Other Employees of Central Authority) Rules, 2024
CBDT exempts TDS for IFSC Units
The provisions will come into force on 1-4-2024.
MoF introduces International Exchange vide FEM (Non-debt Instruments) Amendment Rules, 2024
The definition of International Exchange introduced vide Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2024.
Courts should exercise restraint in exercising power of judicial review in contracts involving complex technical issues; SC reiterates
Supreme Court viewed that the Division Bench of Karnataka High Court, which was considering an appeal against a judgment of a Single Judge rejecting the writ petition, ought to have proceeded with circumspection.
MoF increases Gratuity Limit and Term Insurance Cover for LIC agents
On 18-9-2023, the Ministry of Finance approved a series of welfare measures for the benefit of Life Insurance Corporation of India (‘LIC’)
Principal Officer to also be a Management Level Officer vide PMLA (Maintenance of Records) Rules 2005
On 4-9-2023, the Ministry of Finance notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2023 to amend the Prevention
Setting Sun on the Beneficial Tax Regime for Offshore Debt under the ECB and FPI-Rupee Bond Routes
by Manisha Shroff† Ritu Shaktawat††, and Sneh Shah†††
Cite as: 2023 SCC OnLine Blog Exp 64
MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III
On 30-6-2023, the Ministry of Finance further amended the Foreign Exchange Management (Current Account Transactions) Rules, 2000. It will be deemed to
CBDT introduces Form No. 10-IEA for Application for exercise of option vide Income-tax (Tenth Amendment) Rules, 2023
On 21-6-2023, the Ministry of Finance notified the Income-tax (Tenth Amendment) Rules, 2023 to amend the Income-tax Rules, 1962. Key Points: Rule
CBDT notifies e-Appeals Scheme 2023 to streamline TDS and TCS appeals
On 29-5-2023, the Ministry of Finance notified the e-Appeals Scheme, 2023 to reduce pendency of appeals related to Tax Deducted at Source
Changes in India’s Overseas Investment Framework: Addressing the Round-Tripping Dilemma
by Rabindra Jhunjhunwala† and Sushmita Som††
Cite as: 2023 SCC OnLine Blog Exp 47