Statutory updates

Export Procedure for Telecommunication Items under SCOMET Category 8A5 Part 1

The Directorate General of Foreign Trade establishes the procedure for a one-time General Authorization for Export of Telecommunication-related items under SCOMET Category 8A5…

Income-tax Fifth Amendment Rules 2024

The Central Board of Direct Taxes amends the Income-tax Rules 1962 to substitute Form ITR-V and Form ITR-Ack for the assessment year 2024-25.

Digital Safety Practices for Government Nodal Offices Under NPS Architecture

The PFRDA has issued an advisory for government nodal offices (Central and State, including autonomous bodies) operating within the National Pension System (NPS) architecture.

24/2024-Customs (NT) : Exchange Rate Notification No. 24/2024-Cus (NT) dated 26.03.2024-reg

Adani Power Acquisition of Lanco Amarkantak Power

The Competition Commission of India approves the acquisition of one hundred percent share capital and control of Lanco Amarkantak Power Limited by Adani Power Limited.

MEMG Family Office and 360 ONE Private Equity Fund Combination

The Competition Commission of India approves the proposed combination involving the subscription of class B compulsorily convertible preference shares and equity shares in API…

Income Tax Exemption for National Mission for Clean Ganga

The Central Government notifies National Mission for Clean Ganga under clause (46) of section 10 of the Income-tax Act, 1961 for specified income.

Amendment in Export Policy of Onions

The Central Government amends the export policy for onions under HS Code 0703 10 19 to prohibit exports until further orders.

Amendment in policy condition of Crude Oil under HS Code 2709 00 10- regarding

Issuance of IFSC Codes to IFSC Banking Units

The International Financial Services Centres Authority publishes a list of nineteen IFSC Banking Units operating in the GIFT City International Financial Service Centre that…

Specification of Principal Secretary Planning Department Uttar Pradesh under Income-tax Act Section 138

The Central Government specifies the Principal Secretary, Planning Department, Government of Uttar Pradesh for the purposes of sub-clause (ii) of clause (a) of sub-section (1) of…

Appointment of Part-Time Members in Insolvency and Bankruptcy Board of India

The Central Government has appointed Prof.

Amendments under Interest Equalization Scheme

The Directorate General of Foreign Trade amends the Interest Equalization Scheme to impose a financial cap of Rs. 2.50 crore per Importer-Exporter Code holder.

Dismissal of Interim Relief Prayers in Competition Cases Against Google

The Competition Commission of India dismisses the interim relief applications filed by various informants against Google concerning updated payment policies for the Google Play…

Shriram Ownership Trust Acquisition of SIHL Shares

The Competition Commission of India approves the proposed combination involving the acquisition of shares in Shriram Investment Holdings Private Limited by Shriram Ownership Trust.

India-Spain Tax Convention Amendment on Royalties and Fees for Technical Services

The Central Government modifies the tax convention between India and Spain to reduce the tax rate on royalties and fees for technical services.

Corrigendum to Income-Tax Notification No. 155(E) of 2024

The Central Board of Direct Taxes issues a corrigendum to correct item E in clause 22 of a prior notification.

UltraTech Cement Business Acquisition Approval

The Competition Commission of India approves the acquisition of the cement business of Kesoram Industries Limited by UltraTech Cement Limited.