"31 March 2022" Archive

DGFT extends Foreign Trade Policy 2015-2020 upto 30.09.2022

Notification No. 64/2015-2020 [S.O. 1549(E).] 31/03/2022

The existing Foreign Trade Policy 2015-2020 which is valid upto 31.03.2022 is extended upto 30th September, 2022 by DGFT VIDE Notification No. 64/2015-2020 Dated: 31st March, 2022. While we were all eagerly waiting for the release of India’s new Foreign Trade Policy, a Public notice No- 53/2015-20 and a Notification 64/2015-20 got relea...

DGFT extends Validity of existing HBP, 2015-20 upto 30.09.2022

Public Notice No. 53/2015-2020 [F. No. 01/75/171/00020/AM22/FTP Cell.] 31/03/2022

Validity of the existing Hand Book of Procedures (HBP), 2015-20 is extended upto 30th September, 2022 by DGFT vide Public Notice No. 53/2015-2020 Dated: 31st March, 2022. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade New Delhi Public Notice No. 53/2015-2020 Dated: 31st Ma...

SEBI extends timeline for Two Factor Authentication for redemption

Circular no.SEBI/HO/IMD/IMD-I DOF5/P/CIR/2022/41  31/03/2022

SEBI extends the date of applicability of Circulars including the clauses relating to Two Factor Authentication (‘2FA’) for redemption and source account verification to July 01, 2022....

RBI clarifies on recognition of Govt securities  towards bank’s recapitalisation requirement 

RBI/2021-22/191 DOR.MRG.REC.98/21.04.141/2021-22 31/03/2022

RBI clarified that investments in special securities received from the Government of India towards bank’s recapitalisation requirement from FY 2021-22 onwards shall be recognised at fair value / market value on initial recognition in HTM....

Bilateral Netting of QFC – Amendments to Prudential Guidelines

Circular No. RBI/2021-22/189 DOR.CAP.REC.No.97/21.06.201/2021-22 31/03/2022

Bilateral Netting of Qualified Financial Contracts Act, 2020, has been notified by Notification No. S.O. 3463(E) dated October 1, 2020. The Act provides a legal framework for enforceability of bilateral netting of qualified financial contracts (QFC)....

IRDAI extends dispensation for physical signatures on Life Insurance proposal forms

Ref: IRDAI/Life/Cir/Misc/059/03/2022 31/03/2022

IRDA extend the facilitation dispensing with physical signature on proposal forms of Life Insurance Policies and permitting OTP based validation, up to 30/09/2022. All other provisions, in respect of this dispensation, of the above referred circulars remain unchanged. Insurance Regulatory and Development Authority of India Ref: IRDAI/Life...

Notification No. 48/2022-Customs (N.T.) Dated: 31.05.2022

Notification No. 48/2022-Customs (N.T.) [S.O. 2494(E).] 31/05/2022

CBIC amends Notification No. 19/2022-Customs (N.T) dated 30.03.2022 vide Notification No. 48/2022-Customs (N.T.) Dated: 31.05.2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 48/2022-Customs (N.T.) | Dated: 31st May, 2022 S.O. 2494(E).—In exercise of the powers co...

All about UIDAI e-Aadhaar letter containing Aadhaar secure QR code

Q.1 What is UIDAI Secure QR Code? How QR Code enhance the security of e-Aadhaar? Ans. UIDAI e-Aadhaar letter contains a Aadhaar secure QR code. UIDAI has replaced existing QR code, on e-Aadhaar, having Resident’s demographic details with a secured QR Code which contains digitally signed data like last 4 digits of Aadhaar number, demogra...

Posted Under: DGFT |

Revisional power cannot be exercised without indicating possible & prospective path of enquiry

Shivalic Academy Society Vs CIT (E) (ITAT Delhi)

Shivalic Academy Society Vs CIT (E) (ITAT Delhi) Settled position of law is that for the purpose of exercising jurisdiction u./s. 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the interest of the revenue has to be preceded by some minimal enquiry. If the Revisional authority […]...

Reopening based on vague & un-substantive reasoning not sustainable

Technicon Holdings Pvt. Ltd. Vs ACIT (ITAT Delhi)

The reasons recorded in the instant case are vague and based on un-substantive reasoning, uncorroborated material and lack of evidence and hence as per decisions of the jurisdictional High Court referred above, the reasons referred above tantamount to be based on borrowed satisfaction and according to our considered view, does not sound v...