Buyback of Shares not “Receipt of Property” under section 56(2)(viia)

Sale of Equity Oriented Mutual Funds not akin to alienation of ‘shares’ - Treaty benefit available

Recommendation for streamlining the incorporation process of IFSC Company

IFSCA Approves Third-Party Fund Management Services Framework

No withholding tax requirement on certain payments made to units set-up in IFSC

Reduction in a partner’s share on reconstitution not a capital asset transfer

IBBI Notifies Key Amendments to CIRP Regulations

Transfer of Rights entitlement is not akin to transfer of shares

Key reforms introduced under the International Financial Services Centre Authority (Fund Management) Regulations, 2025

Mauritius DTAA eligibility vis-à-vis Grandfathering

CBDT Issues Guidance on the application of Principal Purpose Test (PPT) under Tax Treaties

SC holds that loss on capital reduction is allowable -Capital reduction akin to extinguishment or relinquishment and thus results in transfer of shares

IFSCA ISSUES NEW DIRECTIONS FOR OPERATION OF FOREIGN CURRENCY IN IFSC ACCOUNT OF RESIDENT INDIVIDUALS UNDER LRS

KEY CHANGES TO IFSCA (FUND MANAGEMENT) REGULATIONS, 2022

International Financial Services Centres Authority (Informal Guidance) Scheme, 2024

Capital reserve arising from amalgamation is not taxable under Section 28(iv)

Maximum Surcharge Rate to be considered in the computation of MMR applicable to Private Discretionary Trust

The Ministry of Finance has recently notified amendments to the Foreign Exchange Management (Non- Debt Instruments) Rules, 2019 (‘NDI Rules’) vide the Foreign Exchange Management (Non-Debt Instruments) (Fourth Amendment) Rules, 2024 (‘Amendment’). The key amendments are summarized below:

During FY2013-14,Sonia Pathak Khanna (‘assessee’) sold an office premises, for Rs.57 lakhs, on which depreciation had been claimed since FY 2009-10 and treated the gains arising thereon as long term capital gain. Further, the written down value of such asset as on 01 April 2013 was Rs.16.70 lakhs

BEPS 2.0 Understanding the Two-Pillar Framework