Reserve Bank of India (Variation Margin) Directions, 2022
Eligible market participants must exchange variation margin for non-centrally cleared derivative contracts based on defined entity thresholds and calculation rules.
IRDAI·01 Jun 2022·Circular·IRDAI/NL/CIR/MISC/107/6/2022
Product Filing Procedure for General Insurers
General insurers must file all products under fire, marine, motor, and engineering lines of business under the Use and File procedure for both retail and commercial categories.
IRDAI·01 Jun 2022·Circular·IRDAI/HLT/REG/CIR/108/06/2022
Use and File Procedure for Health Insurance Products
General and health insurance companies must follow a Use and File procedure for all new or modified health insurance products, add-ons, and riders.
The Central Board of Direct Taxes makes the Income-tax Sixteenth Amendment Rules, 2022, to amend the Income-tax Rules, 1962.
CBDT·31 May 2022·Notification·Notification No. 58/2022
National Biodiversity Authority Income Tax Exemption
The Central Government notifies the National Biodiversity Authority under section 10 clause (46) of the Income-tax Act, 1961 for specified income.
IRDAI·31 May 2022·Circular·IRDAI/ACT/CIR/SLM/106/5/2022
Solvency margin for Pradhan Mantri Jeevan Jyoti Bima Yojana
The Insurance Regulatory and Development Authority of India revises the solvency margin factor for the Pradhan Mantri Jeevan Jyoti Bima Yojana.
CBDT·28 May 2022·Notification·Notification No. 56/2022
Prescribed Income-tax Authority for Section 143(2) Notices
The Central Board of Direct Taxes authorizes the Assistant Commissioner of Income Tax or Deputy Commissioner of Income Tax (International Taxation), Circle -1(1)(1), Delhi to act…
IRDAI·27 May 2022·Circular·IRDAI/CAD/CIR/MISC/105/5/2022
Timelines of Insurance Ombudsman Award Settlement
All insurers must settle all Insurance Ombudsman awards pending for more than 30 days.
IRDAI·27 May 2022·Circular·IRDAI/HLT/REG/CIR/104/5/2022
Modifications in Definition of Critical Illnesses
The Insurance Regulatory and Development Authority of India modifies the standard definitions for three critical illnesses in health insurance policies.
CBDT·27 May 2022·Notification·Notification No. 54/2022
Faceless Penalty (Amendment) Scheme, 2022
The Central Board of Direct Taxes amends the Faceless Penalty Scheme, 2021 to redefine penalty units and penalty review units as Assessing Officers with assigned powers.
The Central Board of Direct Taxes amends the Faceless Penalty Scheme, 2021 to update procedures for penalty units, review units, and personal hearings through video conferencing.
CBIC-GST·26 May 2022·Notification·Notification No. 07/2022 – Central Tax
Late Fee Waiver for FORM GSTR-4 for FY 2021-22
The Central Government waives the late fee for delay in furnishing FORM GSTR-4 for the Financial Year 2021-22 under section 47 of the Central Goods and Services Tax Act, 2017.
PFRDA·26 May 2022·Circular·PFRDA/03/05/1/0013/2017-PnD-APY
Revised Incentive for Subscriber Registration and Persistency under APY
The Pension Fund Regulatory and Development Authority revises the incentive structure for Atal Pension Yojana Service-Providers starting from 1st April 2022.
Import of Gold by Qualified Jewellers through IIBX
Authorised Dealer Category - I banks may permit resident Qualified Jewellers to remit advance payments for eleven days to import gold through the India International Bullion…
IRDAI·23 May 2022·Circular·IRDAI/HLT/CIR/MISC/102/5/2022
Revision of Health Insurance Regulatory Returns
The Insurance Regulatory and Development Authority of India modifies the periodicity of specific health insurance regulatory returns.
The Insolvency and Bankruptcy Board of India rescinds seven previous circulars with immediate effect because their subject matter now exists in current regulations and the Code of…
