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Big M&As of digital businesses likely to come under CCI ambit soon

Several important deals in the digital space, like the Facebook-WhatsApp merger, have escaped CCI scrutiny due to current regulations

CBDT lays out guidelines for manual scrutiny of income tax returns

Income-Tax department selects cases manually for comprehensive scrutiny

No new show cause notices to small taxpayers: CBDT tells officials

The CBDT said that for three years, viz. assessment years (AY) 2013-14, 2014-15 and 2015-16, reassessment notices will not be issued for small taxpayers whose asset is less than Rs 50 lakh.

FCRA violations: MHA officials, NGOs under lens as CBI conducts searches

CBI carrying out major countrywide operation at 40 locations against MHA officials, NGOs for facilitating alleged FCRA violations

Lenders can invoke personal guarantees in IBC cases, says Supreme Court

IBC provision requires initiation of CIRP to proceed against personal guarantors

Taxing digital companies: UN tax panel working on new set of rules

Discusses adopting multilateral approach in tax treaties for faster solution

Sebi scanner on more front-running ops by domestic fund managers

Functioning of dealers at MFs & brokers may undergo greater scrutiny in coming weeks

Disclosure norms on investments from neighbour nations tightened

This is alignment with the tweaked FDI policy of 2020 under the approval route to curb hostile takeovers

Axis MF suspends two fund managers amid allegations of irregularities

In a statement, Axis Bank said a suo moto investigation was launched two months ago to probe potential irregularities

Reassessment dispute case: SC rules in favour of Revenue Department

The new reassessment law had capped the period for issuing notices with respect to reopening past cases at three years, down from from six years earlier

CBDT to taxmen: Complete 30% faceless assessments by end-June

Faceless assessment units identify issues, seek information, and analyse material to conduct assessment

GST mop-up hits record high of Rs 1.68 trn in April on robust biz activity

Tops Rs 1.5 trillion for the first time; record collections for 2 months in a row

GoM likely to discuss imposing flat 28% GST on online gaming

Set to meet on Monday to iron out issues, including tax ambiguities

Preferential treatment case: CCI raids sellers of Amazon, Flipkart

India's antitrust body launched raids on the two top domestic sellers of Amazon over accusations of having violated competition laws

Global funds likely to contest I-T dept's order on tax treaty misuse

The I-T department observes irregularities in tax filings of 2013-14, 2014-15, and 2015-16

New reporting requirements for companies put onus on auditors

Auditors to certify that transactions are not violative of PMLA/FEMA rules, according to ICAI guidelines

ED searches 26 locations in ABG Shipyard money laundering case

Surat-based ABG Shipyard and its former promoters are accused of duping a consortium of 28 banks to the tune of Rs 22,842 crore

Govt seeks to grow tax base, makes filing must for TDS/TCS above Rs 25,000

In the case of senior citizens, the aggregate of Rs 50,000 apply; rule came into force on April 21

Enforcement Directorate raids JSPL premises for 'forex rule violation'

More places to be covered, searches may continue for a day or two: Officials

Co-location case: CBI files charge sheet against Ramkrishna, Subramanian

Names former MD & CEO Ramkrishna, Subramanian as 'accused'