Statutory updates

Multiples Plenty Private Equity GIFT Fund Combination Approval

The Competition Commission of India approves the acquisition of shareholdings in Vastu Housing Finance Corporation Limited, APAC Financial Services Limited, and Quantiphi, Inc. by…

Last Date for Declaration under Vivad se Vishwas Scheme 2024

The Central Government notifies 30 April 2025 as the last date for filing a declaration under the Direct Tax Vivad se Vishwas Scheme 2024.

Revision to Governing Body Meeting Frequency for IBUs in IFSC

The International Financial Services Centres Authority revises the meeting frequency for the governing body of all IFSC Banking Units.

Transition to IFSCA Fund Management Regulations 2025

The International Financial Services Centres Authority sets transition rules for fund management entities under the IFSCA Fund Management Regulations, 2025.

12/2025 : Clarification on the classification and applicable Basic Customs Duty (BCD) for Interactive Flat Panel Displays (IFPDs) and other monitors

Amendment to Framework for Ship Leasing and Relevant Circulars

The International Financial Services Centres Authority amends the Framework for Ship Leasing and relevant circulars with immediate effect.

Compliance of Standard Operating Procedure for Restoration of Telecom Resources

The Telecom Regulatory Authority of India has issued a direction mandating all Access Providers to implement a standardized procedure for restoring telecom resources disconnected…

Framework for Ship Leasing, updated as on April 07, 2025

Greater Mohali Area Development Authority Income Tax Exemption

The Central Government notifies the Greater Mohali Area Development Authority for the purposes of sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961.

Income Tax Exemption for Prayagraj Mela Pradhikaran

The Central Government notifies the Prayagraj Mela Pradhikaran as an authority for the purposes of section 10 clause 46A of the Income-tax Act.

Income-tax Tenth Amendment Rules, 2025 for Block Assessment

The Central Board of Direct Taxes issues the Income-tax (Tenth Amendment) Rules, 2025 to insert rule 12AE and Form ITR-B for filing returns of income under section 158BC relating…

Notification of HUDCO Bonds as Long-Term Specified Asset

The Central Government notifies bonds issued by the Housing and Urban Development Corporation Limited (HUDCO) as long-term specified assets under section 54EC of the Income-tax…

Issuance of Bonus Shares to Non-Resident Shareholders in Prohibited Sectors

Indian companies in sectors prohibited for foreign direct investment may issue bonus shares to existing non-resident shareholders.

Amendment to Entry 515C of Notification 50/2017-Customs

The Central Government amends notification No. 50/2017-Customs to change the entry in column 6 against serial number 515C.

Advisory on Case Insensitivity in IRN Generation

The Invoice Reporting Portal treats invoice and document numbers as case-insensitive for Invoice Reference Number generation starting 1 June 2025.

Corporate Governance and Disclosure Requirements for Finance Companies

Every Finance Company registered with the International Financial Services Centres Authority must develop and implement a Board-approved framework on corporate governance and…

Framework for Global and Regional Corporate Treasury Centres

This framework governs finance companies and finance units that undertake global or regional corporate treasury centre activities in international financial services centres.

Corporate Governance Guidelines Amendments for Finance Companies

The International Financial Services Centres Authority amends the corporate governance guidelines for finance companies.