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Month: August 2022

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Foreign Exchange Management (Overseas Investment) Directions, 2022

August 22, 2022 All Category – I Authorised Dealer BanksMadam/Sir 1. Overseas investments by persons resident in India enhance the scale and scope of businessoperations of Indian entrepreneurs by providing…

Foreign Exchange Management (Overseas Investment) Regulations, 2022

August 22, 2022 In exercise of the powers conferred by sub-section (1) and clause (a) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of…

Participation as Financial Information Providers in Account Aggregator framework

August 19, 2022 All DepositoriesAll Asset Management Companies Dear Sir/Madam, 1. An Account Aggregator (AA), is a Reserve Bank of India (RBI) regulated NonBanking Finance Company (NBFC) that facilitates retrieval…

Block Mechanism in demat account of clients undertaking sale transactions

August 18, 2022 To,All DepositoriesAll recognized Stock Exchanges and Clearing Corporations Madam / Sir, 1. SEBI, vide circular no. CIR/HO/MIRSD/DOP/P/CIR/2021/595 dated July 16, 2021, introduced block mechanism in the demat…

Income-tax (27thAmendment) Rules, 2022.

G.S.R. 636(E).—In exercise of the powers conferred by clause (ha) of sub-section (2) and subsection (4) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board…

Income-tax (26th Amendment) Rules, 2022.

G.S.R. 634(E).—In exercise of the powers conferred by sub-section (1) of section 239A read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct…

Guidelines for overseas investment by Alternative Investment Funds (AIFs) / Venture Capital Funds (VCFs)

August 17, 2022 ToAll Alternative Investment FundsAll Venture Capital Funds Sir/ Madam, 1. In terms of Regulation 12(ba) of erstwhile SEBI (Venture Capital Funds) Regulations 1996 and Regulation 15(1)(a) of…

Income-tax (25th Amendment) Rules, 2022

New Delhi, 17th August, 2022 G.S.R. 632(E).—In exercise of the powers conferred under clause (a) of Explanation 3 to the third proviso to clause (23C) of section 10 and clause…

Income-tax (24th Amendment) Rules, 2022.

G.S.R. 622(E).—In exercise of the powers conferred by clause (a) of the tenth proviso to clause (23C) of section 10 and sub-clause (i) of clause (b) of sub-section (1) of…

Withdrawal of exemption from GST on services provided by IRDAI to Insurers

As per the MoF (Dept. of Revenue), GoI Notification No. 04/2022 – Central Tax (Rate), dt. 13th July, 2022 (effective from 18th July, 2022), the central tax (GST) exemption provided…