GST: The Government of India has appointed Shri. Nitin Gupta, IRS as Chairman, Central Board of Direct Taxes (CBDT). (Notification No.31/1/2022-EO(SM-II Dated 25th June 2022)
Income Tax: CBDT has notified the ‘Seventy Second Investment Company LLC’, as sovereign wealth fund for the purpose of section 10(23FE) exemption. (Notification No. 69/2022-Income Tax Dated 27th June 2022)
Customs: CBIC has issued the Customs Brokers Licensing (Amendment) Regulations, 2022. (Notification No. 52/2022-Customs (N.T.) Dated 24th June 2022 )
Income Tax: CBDT has notified the Format, Procedure and Guidelines for submission of Form No. 1 (Return of Taxable Securities Transactions For recognized stock exchanges), Form No. 2 (Return of Taxable Securities Transactions for Mutual Funds), and Form No. 2A (Return of Taxable Securities Transactions for Insurance Company) for Securities Transaction Tax (STT). (Notification No. …
SEBI: SEBI has provided the facility to block funds via UPI in public issues of units of Real Estate Investment Trust (REITs) & Infrastructure Investment Trusts (InvITs). (Circular No. SEBI/HO/DDHS/DDHS_DIV3/P/CIR/2022/085 AND 086 Dated 24th June 2022)
SEBI: SEBI specified that all Alternate Investment Funds (AIFs) shall ensure that the Manager to AIF shall designates an employee or director as “Compliance Officer”. (Circular No. SEBI/HO/AFD/RAC/CIR/2022/088 Dated 24th June 2022)
SEBI: SEBI has reduced the timelines for listing of units of privately placed Infrastructure Investment Trust (InvIT) to 6 working days from the date of closure of the issue. (Circular No. SEBI/HO/DDHS/DDHS_DIV3/P/CIR/2022/087 Dated 24th June 2022)
SEBI: SEBI has extended the timeline for Validation of KYC ((Know Your client) records by Registered Intermediaries. (Circular No. No. SEBI/HO/MIRSD /DoP/P/ CIR/2022/89 Dated 24th June 2022)
RBI: RBI has extended the timeline for storing of Card-on-File (CoF) data by 3 months i.e. till September 30, 2022. (Notification No. RBI/2022-23/77 CO.DPSS.POLC.No.S-567/02-14-003/2022-23 Dated 24th June 2022)
DGFT: One new Agency is notified by DGFT as Pre-Shipment Inspection Agency (PSIA) alongwith their approved equipment’s. (Public Notice No. 16/2015-2020 Dated 24th June 2022)
GST: GST Compensation Cess levy extended till 31st March 2026 which was coming to an end on 30th June 2022. (Notification No. 1/2022–Compensation Cess Dated 24th June 2022)
Income Tax: Designation of Courts in Uttarakhand as Special Court for the purposes of section 280A of the Income tax Act, 1961 and section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. (Notification No. 68/2022- Income Tax Dated 24th June 2022)
RBI: RBI has doubled the limit on home loans issued by Urban Cooperative Banks to eligible borrowers (Circular No. RBI/2022-23/76 DOR.CRE.REC. NO. 49 / 09.22.010/2022-23 Dated 23rd June 2022)
RBI: RBI has issued draft Master Directions on outsourcing of Information Technology (IT) Services (Press Release: 2022-2023/413 Dated 23rd June 2022)
FEMA: The Government has extended the validity of the registration certificate issued under the Foreign Contribution (Regulation) Act, 2010 (FCRA) up to 30-09-2022 or till the date of disposal of the renewal application, whichever is earlier. (Public Notice No. II/21022/23/(22)/2020-FCRA-III Dated 22nd June 2022)
Income Tax: CBDT has notified the Income Tax (19th Amendment) Rules 2022 in which the procedures related to the deduction and payment of TDS and issuance of TDS certificate under section 194S has been notified. (Notification No. 67/2022 – Income Tax Dated 21st June 2022)
Income Tax: CBDT has issues guidelines for TDS under Sec. 194S where Virtual Digital Asset (VDAs) are transferred on or through an Exchange. (Circular No. 13/2022 [F. NO. 370142/29/2022-TPL] (PART-1) Dated 22nd June 2022)
SEBI: SEBI to facilitate faster confirmation of remittances by intermediaries (Circular No. SEBI/HO/IMD/FPI&C/CIR/P/2022/84 Dated 21st June 2022)
RBI: RBI has extended the timeline for implementation of certain provisions of Master Direction on Credit Card and Debit Card (Notification No. RBI/2022-23/74 DoR.AUT.REC.No.48/24.01.041/2022-23 Dated 21st June 2022)
DGFT: DGFT has amended the Import Policy Condition of Water Melon Seeds under ITC(IIS) Code 1207 70 90 of Chapter-12 of ITC (IIS), 2022, Schedule-I (Import Policy). (Notification No. 13/2015-2020-DGFT Dated 21st June 2022)
