31st December 2024 Dear Dr Singh, You may not be used to see a letter of this kind though you might have been getting glorious communications during your illustrious career on earth and thereafter. With so many followers for you in this world of which an equal number as your ardent admirers, you may be …
The World of Influencers: Have you heard of Aitana? Does the name sound familiar? No? She is the beauty who is the envy of every woman and is the cynosure of all eyes of all men on our planet. She is all of 25, a pink-haired woman from Barcelona who receives private messages from all. …
Company and SEBI Law SEBI has notified SEBI (Investment Advisers) (Second Amendment) Regulations, 2024. New sub-regulations have been inserted to regulation 18 relating to ‘disclosures to clients’. It states that an investment adviser must disclose to the client the extent of use of ‘Artificial Intelligence tools’ in providing investment advice. Also, an investment adviser who …
Income Tax: The CBDT released Guidance Note 2/2024 modifying the FAQ on eligibility of cases and incorporating various FAQs on Set-aside appeal, prosecution, Computation of Amount payable, Disputed Penalty, APA/MAP Cases, Taxes paid before filing declaration, TDS related queries etc. Circular No. 19 OF 2024 dated 17.12.24
Income Tax CBDT has launched a campaign to address income and transaction mismatches for FY 2023-24 and FY 2021-22. Taxpayers can file revised ITRs for FY 2023-24 by December 31, 2024, and updated ITRs for FY 2021-22 by March 31, 2025. Feedback on AIS data can be provided via the AIS portal. PRESS RELEASE
FEMA and Banking The government has issued a directive regarding the prompt response to clarifications sought for registration, renewal, or prior permission applications under the Foreign Contribution (Regulation) Act, 2010. Applications are processed exclusively through the FCRA portal, & any deficiencies in information will result in queries raised on the portal. Applicant associations are advised …
Company and SEBI Laws: Earlier, SEBI had received representation to provide clarity on the classification of CDMDF under one of the defined categories under the AIF Regulations. Though SEBI has laid down a separate framework for Corporate Debt Market Development Fund (CDMDF). Now SEBI has clarified the Corporate Debt Market Development Fund (CDMDF) will be …
Company and SEBI Laws: SEBI has notified SEBI (Investment Advisers) (Second Amendment) Regulations, 2024. New sub-regulations have been inserted to regulation 18 relating to ‘disclosures to clients’. It states that an investment adviser must disclose to the client the extent of use of ‘Artificial Intelligence tools’ in providing investment advice. Also, an investment adviser who …
Company and SEBI Laws SEBI has notified SEBI (Research Analysts) (Third Amendment) Regulations, 2024. A new regulation 26C relating to ‘Client level segregation of research services and distribution activities’ has been inserted. It states that an individual research analyst must not provide distribution services. Further, a non-individual research analyst or research entity must have client-level …
Company and SEBI Laws SEBI has notified amendment in SEBI (Mutual Funds) Regulations, 1996, introducing chapter VI-C i.e., Specialized Investment Fund. The provisions of this Chapter shall apply to a Specialized Investment Fund fulfilling eligibility criteria as prescribed by the board. A Specialized Investment Fund shall not accept from an investor, an investment amount less …
DGFT: DGFT has notified the new Standard Input Output Norms (SIONs) for export product Propionic Anhydride under Chemical & Allied Product Group (Product Code ‘A’). The SION is as under: Export Product Qty. Sl. No. Import Items Qty. allowed. Propionic Anhydride 1 Kg 1 Propionic Acid 1.15 kg. 2 Acetic Acid Glacial 0.500 kg. Public …
Customs The CBIC has issued a notification under Section 65 of the Customs Act, 1962, specifying that manufacturing processes and other operations related to goods imported for solar power generation projects supplying electricity shall not be permitted in a warehouse. Further, it is clarified that this restriction applies only when electricity is generated as a …
Company and SEBI Laws Earlier, SEBI vide Circular dated 21.03.2024 introduced the beta version of T+0 rolling settlement cycle on optional basis in addition to the existing T+1 settlement cycle in Equity Cash Markets, for a limited set of 25 scrips. Now, to increase the efficiency of optional T+0 settlement cycle, SEBI has decided to …
Company and SEBI Laws SEBI has revised guidelines for capacity planning and real-time performance monitoring framework of Market Infrastructure Institutions (MIIs). Under the revised guidelines, MIIs have been directed to develop future-ready frameworks to estimate capacity needs based on trends, historical data, transaction growth, and business changes. Further, all MIIs must ensure adequate system capacity …
Income Tax For the purposes of sec. 280A of Income Tax Act and Sec. 84 of Black Money Act, the Central Government, in consultation with the Chief Justice of the High Court of Madras, designates various courts in the State of Tamil Nadu, as Special Courts in the area of Chennai, Madurai, Coimbatore and Puducherry. …
Indian Acts and SEBI Law SEBI has noticed that certain electronic platforms or websites are facilitating transactions in unlisted securities of public limited companies. SEBI cautious investors not to conduct any transactions on such electronic platforms or share any sensitive personal details as these platforms are neither authorized nor recognized by SEBI. SEBI further informed …
Indian Acts and SEBI Law In line with section 9 of the MSME Development Act, 2006, the Central Government has mandated that all companies registered under the Companies Act, 2013, with a turnover of more than Rs. 250 crores and all Central Public Sector Enterprises (CPSEs) be onboarded on the Trade Receivables Discounting System (TReDS) …
GST Biometric-Based Aadhaar Authentication and Document Verification implemented in Haryana, Manipur, Meghalaya and Tripura dated 08.12.24 The GSTN has issued advisory to inform that biometric-based aadhaar authentication and document verification for GST registration applicants of Haryana, Manipur, Meghalaya and Tripura has been rolled out on 7th December 2024. The feature of booking an appointment to …
GST GSTN issued new advisory on difference in value of Table 8A and 8C of Annual Returns FY 23-24 dated 09.12.24 The GSTN has noted that several concerns have been raised regarding possible mismatch between the values of table 8A and 8C of Form GSTR-9 for FY 23-24. Now, the GSTN has issued an advisory …
