Statutory updates

Exemption from Section 206C(1G) Tax Collection for Non-Resident Visitors

The Central Board of Direct Taxes exempts non-resident individuals visiting India from the provisions of sub-section (1G) of section 206C of the Income-tax Act, 1961.

notification no. 21/2022 f.no. 370142/8/2022 tpl / gsr 231 e income tax fourth amendment rules 2022

RTI First Appeal and Application Records for Prince Barnwal

Prince Barnwal filed an online RTI request on 30 March 2022 to obtain information about the Limited Departmental Competitive Examination for the post of EO/AO under Examination…

Income-tax Third Amendment Rules, 2022

The Central Board of Direct Taxes amends the Income-tax Rules, 1962 to set late fees for delayed Aadhaar linking and update operational timelines.

e-Assessment of Income Escaping Assessment Scheme, 2022

The Central Board of Direct Taxes makes the e-Assessment of Income Escaping Assessment Scheme, 2022.

Extension of Timelines for Covid Specific Health Insurance Policies

The Insurance Regulatory and Development Authority of India extends the timeline for the sale and renewal of short-term Covid specific health insurance policies.

Faceless Jurisdiction of Income-tax Authorities Scheme, 2022

The Central Government notifies the Faceless Jurisdiction of Income-tax Authorities Scheme, 2022.

Extension of Time Limit for Benami Property Orders

The Central Government specifies an extended end date for passing any order under sub-section (3) of section 26 of the Prohibition of Benami Property Transaction Act, 1988.

Dividend Criteria for Equity Investment under Approved Investment

The Insurance Regulatory and Development Authority of India permits insurers to classify preference shares and equity shares as approved investments under a relaxed dividend…

Press Note No. 1 (2022 Series) : Review of FDI Policy for permitting foreign investment in Life

Amendment to Circular on Proper Officer for Sections 73 and 74

The Central Board of Indirect Taxes and Customs amends Circular No. 31/05/2018-GST to establish adjudication rules for show cause notices issued by the Directorate General of…

Appointment of Common Adjudicating Authority for DGGI Notices

The Central Government vests specific Additional Commissioners and Joint Commissioners of Central Tax with powers for passing an order or decision on notices.

Negotiated Large Trade Facility Price Limits for Stock Exchanges

Recognised stock exchanges in the International Financial Services Centre align price limits for the Negotiated Large Trade facility with international exchanges for connected…

Disclosure of Underwriting Philosophy for Health Insurance to Transgender Persons

All insurers must publish their underwriting philosophy and approach for offering health insurance coverage to transgender persons on their websites.

Scientific Research Approval for Sri Shankara Cancer Foundation

The Central Government approves Sri Shankara Cancer Foundation under the category of University, College or other institution for Scientific Research.

Fee Structure for Debenture Trustees in the IFSC

The International Financial Services Centres Authority sets the application fee and the registration fee for all debenture trustees in the International Financial Services Centre.

01/2022-Central Tax : Seeks to implement e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 20 Cr from 01 st April 2022.

Restriction on Multiple Foreign Reinsurance Branch Registrations per Group

The Insurance Regulatory and Development Authority of India restricts the number of Foreign Reinsurance Branch registrations for a single group.