The Central Board of Direct Taxes issues the Income-tax (26th Amendment) Rules, 2022 to amend the Income-tax Rules, 1962.
CBDT·17 Aug 2022·Notification·Notification No. 99/2022/F. No. 370142/9/2022-TPL Part (2)
Exemption from Section 206C(1G) Tax Collection for Non-Residents
The Central Board of Direct Taxes specifies that sub-section (1G) of section 206C of the Income-tax Act does not apply to a non-resident buyer without a permanent establishment in…
IFSCA·16 Aug 2022·Circular·F. No. 496/IFSCA/FC/SLF/2022-23/001
Framework for Ship Leasing by Finance Companies or Units
Eligible entities in International Financial Services Centres can undertake ship leasing activities as operating leases or financial leases under a new regulatory framework.
CBDT·16 Aug 2022·Notification·Notification No. 95/2022 / F. No. 500/SWF4/S10(23FE)/FT&TR-II(Pt.4)
Sovereign Wealth Fund Tax Exemption Specification for INQ Holding LLC
The Central Government specifies INQ Holding LLC as a specified person for tax exemption under section 10 of the Income-tax Act, 1961 in respect of investments made in India…
IRDAI·16 Aug 2022·Circular·IRDAI/LGL/CIR/MISC/176/8/2022
Revised Mechanism for Framing, Consultation and Issuance of Regulations
The Insurance Regulatory and Development Authority of India revises the regulation making process to rationalize procedures and to reduce the timeline for regulation making.
CLC·12 Aug 2022·Minimum wage order·F.No. 1/4(3)/2022-LS-II
Minimum Wage VDA Rate Corrigendum for Construction Workers
The Office of the Chief Labour Commissioner corrects variable dearness allowance rates for specific categories of workers in construction or maintenance operations.
IRDAI·11 Aug 2022·Circular·IRDAI/GA&HR/CIR/MISC/172/8/2022
GST Applicability on IRDAI Services to Insurance Intermediaries
Insurance intermediaries pay GST at eighteen percent on payments made to the Authority for fees and charges on or after 12 August 2022.
Voluntary Contributions under D Remit enabled through UPI
The Pension Fund Regulatory and Development Authority enables voluntary contributions through Unified Payments Interface for the D-Remit feature of the National Pension System.
IRDAI·11 Aug 2022·Circular·IRDAI/GA&HR/CIR/MISC/171/8/2022
Withdrawal of Exemption from GST on Services Provided by IRDAI to Insurers
The Insurance Regulatory and Development Authority of India withdraws the central tax exemption on services provided to insurers.
Income-tax Rules 1962 Amendment for Books of Account and Documents
The Central Board of Direct Taxes amends the Income-tax Rules, 1962, to add rule 17AA regarding books of account and documents.
IRDAI·09 Aug 2022·Circular·IRDAI/GA&HR/CIR/MISC/167/8/2022
Migration of BAP to new hardware and the latest software
The Insurance Regulatory and Development Authority of India migrates BAP to new hardware and the latest software.
CBDT·05 Aug 2022·Notification·Notification No. 90 /2022/F. No. 370142/31/2022-TPL (Part-2)
COVID-19 Medical Treatment Expenditure Conditions for Income Tax Exemption
The Central Board of Direct Taxes sets the conditions for employees to claim tax exemption on money received for COVID-19 medical treatment.
CBDT·05 Aug 2022·Notification·Notification No. 91/2022
Conditions and Form for COVID-19 Treatment Expenditure Receipts
The Central Board of Direct Taxes specifies conditions and reporting rules for amounts received for COVID-19 medical treatment under section 56 of the Income-tax Act, 1961.
CBDT·05 Aug 2022·Notification·Notification No. 92/2022
Conditions and Form A for COVID-19 Death Exemption
The Central Board of Direct Taxes specifies conditions and reporting requirements for sums received by a family member on account of death due to COVID-19 under section 56 of the…
Specify Qatar Holding LLC as Specified Person for Section 10(23FE) Tax Exemption
The Central Government specifies Qatar Holding LLC as the specified person for tax exemption under section 10 of the Income-tax Act, 1961.
IFSCA·05 Aug 2022·Circular·329/IFSCA/DPM/TS/QJ/2022-23/2
SOP for Qualified Jewellers Importing Gold Through IIBX
Qualified jewellers import gold through the India International Bullion Exchange by following a standard operating procedure for notifications, advance remittances, bullion…
Clarifications on GST Rates and Exemptions for Certain Services
This circular clarifies the goods and services tax rates and exemptions for sixteen specific services including ice-cream supply, educational fees, cotton storage, transit cargo…
