The Notification No. 12/2015-2020 dated 01.07.2021 is amended to the extent that export of Rice (Basmati and Non-Basmati) to EU member states and other European Countries namely Iceland, Liechtenstein, Norway and Switzerland only will require Certificate of Inspection from EIA/EIC. Export to remaining European countries (except Iceland, L...

A new Policy Condition No. 5 is added in Chapter 29 and Policy Condition No. 6 is added in Chapter 38 of ITC (HS) 2022, Schedule — I (Import Policy) as under : Import of Hydro fluorocarbons (HFCs) is permitted with an import authorization subject to recommendation of Ozone Cell, MoEF&CC 3. Effect of this Notification Import polic...

Cabinet approves setting up of National Land Monetization Corporation as a Special Purpose Vehicle (SPV) for undertaking surplus land monetization The Union Cabinet, chaired by Prime Minister Shri Narendra Modi has approved the setting up National Land Monetization Corporation (NLMC) as a wholly owned Government of India company with an i...

Composition of the Board of Directors of the Listed Company as per LODR Regulations 2015 As per Sub Regulation (1) of the Regulation 17 of the SEBI (Listing Obligations and Disclosures Requirements) 2015 (a) the Board of Director of the listed entity shall have optimum combination of executive and Non executive Director with at least [&he...

The Central Bank of UAE in an effort to bring international best practices to the UAE economy, has announced a New Transaction Law – ‘Decriminalisation of Bounced Cheques’. This updated law has been made effective from January 2, 2022. This updated law on bounced cheques will bring up UAE’s Business environment up to inter...

Summary -The Union Budget 2019 has introduced Section 194N for tax deduction at source (TDS) on cash withdrawals exceeding Rs 1 crore. -The Budget 2020 has reduced the threshold limit for TDS to Rs 20 lakh for taxpayers who have not filed their income tax returns for past three years. -Why is Section 194N- To […]...

Any notices served by the Income Tax department u/s 143(2) (Scrutiny) or u/s 144 (Best Judgement Assessment) or u/s 147 (Income Escaping Assessment) or in combination, the hearing and settlement was conducted on an offline mode. The Assessee to whom such a notice was served, was asked to present himself in person or by a […]...

Reserve Bank of India hereby notifies that Tumkur Pattana Sahakara Bank Niyamitha, Tumkur, Karnataka has ceased to be a co-operative bank...

Raj Singh Gehlot Vs Directorate of Enforcement (Delhi High Court) As per the prosecution complaint, in total, Term loan of Rs.810 crores was availed by AHPL and sanctioned by the consortium of banks. The funds were disbursed through an Escrow Account maintained with J&K Bank, Ansal Plaza Branch. The FIR was registered against the appl...

1. Introduction on filling of APR (i)  (a)  Filling of the APR is mandatory for the investments made outside India by a resident individual and resident ‘non individual’ both for the investments in Joint ventures (JV) or Wholly owned subsidy (WOS) outside India. These resident non individuals are commonly known as Indian Party (IP) ...