We are pleased to share with you the highlights of the Union Budget 2025 on GST and Customs developments. We trust that you will find the same useful. Looking forward to receiving your valuable feedback. For any clarifications, please write to: Mr. Shammi Kapoor Senior Partner [email protected] Mr. Arnab Roy Associate Partner [email protected] Mr. Sandeep […]
Securities and Exchange Board of India (“SEBI”), vide its notification dated November 18, 2024, had notified the SEBI (Alternative Investment Funds) (Fifth Amendment) Regulations, 2024 (“AIF Amendment Regulations”), thereby amending the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”). The amendments were introduced with respect to maintaining pro-rata and pari-passu rights of investors in a […]
In January 2025, Securities and Exchange Board of India (“SEBI”), has updated FAQs for grant of registration as an alternative investment fund (“AIF”) and taking on record private placement memorandum (“PPM”) of the scheme (“Updated FAQs”). As per the Updated FAQs, the applicants are required to pay the application fees through online mode available on […]
In a major relief to taxpayers, CBDT vide Notification No. 8 of 2025 has extended the applicability of the VsV Scheme 2024 to the appeals which were filed after the specified but within the statutory period provided by the Income Tax Act, 1961. Background: A writ petition[1] was filed challenging the VsV Scheme 2024 and […]
Attached herewith a summary of the recent ruling of the Delhi bench of Income tax Appellate Tribunal in the case of S.C. Lowy P.I. (Lux) S.A.R.L., wherein the Tribunal had examined the principal purpose test introduced by amendment in Multilateral Instruments in the India-Luxembourg tax treaty. This is the first case in India where the […]
In the January edition of our monthly newsletter “Legalaxy”, our team analyses some of the key developments in securities market, banking and finance, environment, consumer affairs and corporate affairs. Below are the key highlights of the newsletter: SEBI UPDATES SEBI LODR (Third Amendment) Regulations, 2024 – Notified SEBI issues guidelines regarding pro-rata and pari-passu rights […]
