Statutory updates

Implementation of Telecommunication Mobile Number Portability (Seventh Amendment) Regulations, 2018

The Telecom Regulatory Authority of India (TRAI) has amended the implementation timeline for the Telecommunication Mobile Number Portability (Seventh Amendment) Regulations, 2018.

Modification Guidelines on Product Filing in Health Insurance Business

All general and health insurers must apply new design norms for health insurance products and modify existing products to comply with regulatory standards.

Modification Guidelines on Standardization in Health Insurance

Insurers and TPAs must apply modified pre-existing disease definitions and revised optional hospital expense item categories to health insurance products.

Income-tax 10th Amendment Rules, 2019

The Central Board of Direct Taxes issues the Income-tax (10th Amendment) Rules, 2019 to amend rule 37BA of the Income-tax Rules, 1962.

Benefit Illustration and Market Conduct Standards for Life Insurers

Life insurers must provide customized benefit illustrations at the point of sale and follow revised market conduct rules.

Circular on Group Life Insurance Products and other operational matters

Income-tax Jurisdiction and Authority Amendments Notification

The Central Board of Direct Taxes amends the income-tax notification number S.O. 2753(E) to update jurisdiction entries.

42/2019-Central Tax : Seeks to bring rules 10, 11, 12 and 26 of the CGST (Fourth Amendment) Rules, 2019 in to force.

Guidelines on Minor Modifications in Individual Insurance Products

General insurers and stand alone health insurers execute minor modifications in approved individual insurance products on a certification basis under specific regulatory norms.

Centralized E-assessment Income-tax Authorities Jurisdiction

The Central Board of Direct Taxes directs that specified Income-tax Authorities of the National e-Assessment Centre exercise powers of the Assessing Officer.

37th GST Council Meeting

Higher Depreciation on Certain Motor Cars, Buses, Lorries and Taxis

The Central Board of Direct Taxes amends the Income-tax Rules, 1962 to provide higher depreciation rates for specific motor cars, motor buses, motor lorries, and motor taxis.

TDS Exemption on Cash Withdrawals for APMC Commission Agents

The Central Board of Direct Taxes specifies an exemption for commission agents or traders operating under the Agriculture Produce Market Committee from tax deduction at source on…

Jurisdiction Amendments for Income-tax Authorities

The Central Board of Direct Taxes amends notification No. 50 of 2014 to grant additional income-tax jurisdiction to specified Principal Commissioners and Commissioners of…

Exemption under Section 194N for CRAs and WLATMO Franchise Agents

The Central Government specifies Cash Replenishment Agencies and franchise agents of White Label Automated Teller Machine Operators for an exemption under section 194N of the…

notification no. 67/2019 f.no. 370142/8/2019 tpl gsr 662 e income tax 8th amendment rules 2019

Income-tax (7th Amendment) Rules, 2019

The Central Board of Direct Taxes amends the Income-tax Rules, 1962 by the Income-tax (7th Amendment) Rules, 2019.

Valuation Provisions Under Companies Act and Insolvency Code

Registered valuers must conduct valuations required under the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016.