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)
SEBI: SEBI has prescribed that all demat accounts of stock brokers should be appropriately tagged by 30th June 2022 (Circular No. SEBI/HO/MIRSD/ MIRSD_DPIEA/P/CIR/2022/83 Dated 30th June 2022)
Customs: CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 17th June, 2022 (Notification No. 51/2022-Cus (NT) dated 16th June 2022)
RBI: CBDT has amended the Rule 10TD of Income Tax Rules, 1962 and extended applicability of Safe Harbour Rule 10TD(1) and Rule 10TD(2A) to AY 2022-23. The notification is effective dated 1 April 2022 (Notification No. 66/2022-Income-Tax Dated 17th June 2022)
RBI: RBI has decided to increase the Additional Factor of Authentication (AFA) Limit from Rs.5,000/- to Rs.15,000/- per transaction (Circular No. RBI/2022-23/73 CO.DPSS.POLC.NO.S-518/02.14.003/2022-23 Dated 16th June 2022)
RBI: The RBI has announced Series I and II of Sovereign Gold Bond Scheme 2022-23 (Circular No. RBI/2022-23/72 IDMD.CDD. NO.S789/14.04.050/2022-23 Dated 16th June 2022)
Income Tax: CBDT has issued guidelines for removal of difficulties under sub-section(2) of section 194R of Income Tax Act, 1961. Board has framed the questions and answered them to give clarity on the deduction of tax at source (Circular No. 12 /2022-Income Tax Dated 16th June 2022)
Income Tax: CBDT has notified a new Rule 21AIA prescribing the “other conditions” required to be fulfilled by a specified fund referred to in section 10(4D) of the Income-tax Act, 1961 (Notification No. 64/2022 -Income Tax Dated 16th June 2022)
Income Tax: CBDT has exempted deduction of tax at source under section 194-I of the Income-tax Act, 1961 on payment of lease rent or supplemental lease rent made to a unit located in the International Financial Services Centre (IFSC) for the lease of an aircraft. (Notification No.65/2022-Income Tax Dated 16th June 2022)
IBBI: IBBI reduces timelines for speedy disposal of grievances under the Grievance & Complaint Handling procedures norms (Notification No. IBBI/2022-23/GN/REG086 Dated 14th June 2022).
IBBI: Now Operational Creditors must furnish copies of GSTR-1, GSTR-3B, and e-way bill along with the application under section 9 of the Insolvency and bankruptcy Code, 2016 (Notification No. IBBI/2022-23/GN/REG084 Dated 14th June 2022)
IBBI: Now creditors need to file information of default with information utilities before filing the application to initiate the Corporate Insolvency Resolution Process(CIRP) (Notification No. IBBI/2022-23/GN/REG085 Dated 14th June 2022)
SEBI: SEBI brings uniformity in nomination process for Mutual Fund Unit Holders (Circular No. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2022/82 Dated 15th June 2022)
Income Tax: Central Board of Direct Taxes (CBDT) has notified that Transfer of capital asset from NTPC Ltd. to NTPC Green Energy Ltd. shall not be treated as transfer u/s 47 (Notification No. 63/2022 Dated 15th June 2022)
