Monthly Archives: September 2023

Family Investment Fund (FIF)

Posted on September 29, 2023

On April 19, 2022, the International Financial Services Centres Authority (IFSCA) published the International Financial Services Centres Authority (Fund Management) Regulations, 2022 (“FM Regulations”) overhauling the fund regime in International Financial Services Centre (IFSC) and introduced Family Investment Funds for … Continue reading →

Posted in Family Office |

Rule 11UA: New Methods for Valuing CCPS and Unquoted Shares

Posted on September 27, 2023

The Finance Act, 2023 amended section 56(2)(viib) of the Income Tax Act, 1961 (‘the Act’) to bring into account the consideration received from non-residents for issuance of shares. Now, the CBDT has notified Income-tax (Twenty-First Amendment) Rules, 2023, amending Rule … Continue reading →

Posted in Regulatory |

Tax Audit Applicability for F.Y. 2022-23

Posted on September 18, 2023

Section 44AB Audit of accounts of certain persons carrying on business or profession of Income Tax Act, 1961-Every person,—a) carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or … Continue reading →

Posted in Audit & Assurance |

Framework for Voluntary Delisting of Debt Securities

Posted on September 5, 2023

The Securities and Exchange Board of India (“SEBI”) have included framework for voluntary delisting of non-convertible redeemable preference shares and non-convertible redeemable preference shares (collective “NC Securities”) from Stock Exchange (“SE”) by inserting Chapter VIA to the Securities and Exchange … Continue reading →

Posted in Regulatory |