Statutory updates

Income-tax (17th Amendment) Rules, 2020 for Form 27EQ and TCS

The Central Board of Direct Taxes amends the Income-tax Rules, 1962 to update Form 27EQ and rules for tax collected at source.

Transfer of Shares of the Insurance Companies

The Insurance Regulatory and Development Authority of India issues clarifications on the transfer and pledge of shares for insurance and reinsurance companies.

Corrigendum to Notification No. 33/2020 on Assessment Years

The Central Board of Direct Taxes amends notification number 33/2020 to expand the list of assessment years.

Income Tax Exemption for Tamil Nadu e-Governance Agency

The Central Government notifies the Tamil Nadu e-Governance Agency for income tax exemption under section 10 clause 46 of the Income-tax Act, 1961.

Sharing Income Tax Assessee Information for PM-KISAN Yojana

The Central Government specifies the Joint Secretary of Farmers Welfare to receive income-tax assessee information.

Specification of Agencies under Section 138 of the Income-tax Act

The Central Government specifies four bodies and agencies for the purposes of sub-clause (ii) of clause (a) of sub-section (1) of Section 138 of the Income-tax Act, 1961.

Income Tax Exemption for Real Estate Regulatory Authority Bihar

The Central Government notifies the Real Estate Regulatory Authority, Bihar under clause (46) of section 10 of the Income-tax Act, 1961 as a class of Authority for specified…

Guidelines on Settlement of Claims at Make-Shift or Temporary Hospitals for COVID-19

General and health insurers must treat government-permitted make-shift or temporary hospitals as hospitals or network providers for COVID-19 treatment claims.

Specification of Additional Secretary and Development Commissioner under Section 138

The Central Government specifies the Additional Secretary and Development Commissioner in the Ministry of Micro Small and Medium Enterprises for the purpose of Section 138 of the…

Provision of Cashless Facility to Policyholders

General and health insurance companies must ensure that cashless treatment facilities are provided to policyholders at empanelled network providers in accordance with policy…

59/2020-Central Tax : Seeks to extend the due date for filing FORM GSTR-4 for financial year 2019-2020.

Tax Exemption for National Aviation Security Fee Trust

The Central Government notifies the National Aviation Security Fee Trust for income tax exemption under clause (46) of section 10 of the Income-tax Act, 1961.

Income Tax Exemption for Goa and Telangana RERA

The Central Government notifies the Real Estate Regulatory Authority as a class of authority under section 10 of the Income-tax Act, 1961.

Group Credit Life Schemes Modifications for RBI Moratorium

Life insurers may modify group credit life master policies to align coverage with the revised loan repayment schedule for members who avail the Reserve Bank of India moratorium.

Telecommunication Interconnection Second Amendment Regulations 2020

The Telecom Regulatory Authority of India issues the Telecommunication Interconnection (Second Amendment) Regulations, 2020 to amend the Telecommunication Interconnection…

SEBI IFSC Guidelines 2015 Amendments on Stock Exchange Eligibility

The Securities and Exchange Board of India amends clause 4 (1) of the Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015.

COVID 19 - Rescheduling of Term loans

Sum Insured Limits for Arogya Sanjeevani Policy

General insurers and health insurers may offer sum insured options less than rupees one lakh and greater than rupees five lakhs for the Arogya Sanjeevani Policy.