Based upon an intelligence that M/s Xiaomi Technology India Private Limited (Xiaomi India) was evading customs duty by way of undervaluation, an investigation was initiated by the Directorate of Revenue Intelligence (DRI) against Xiaomi India and its contract manufacturers
With the objective to better align our guidelines with the BCBS standard and enable banks to manage liquidity risk more effectively, it has been decided to increase the threshold limit for deposits and other extensions of funds made by non-financial Small Business Customers from ₹ 5 crore to ₹ 7.5 crore for the purpose of maintenance of Liquidity Coverage Ratio (LCR).
Eligibility criteria for entities to be categorised as Specified User under clause (j) of Regulation 3 of the Credit Information Companies (Amendment) Regulations, 2021. 1. The entity shall be a company incorporated in India or a Statutory Corporation established in India.
Exposure Draft of AS 110, Consolidated and Separate Financial Statements shall be applied in the preparation and presentation of consolidated financial statements for a group of entities under the control of a parent.
All urgent and time bound activities must not be left unattended. Such activities may include time bound assessment, time bound completion of proceedings, compliance and follow up of High Court Orders and other Court proceedings, time bound completion of insolvency proceedings, time bound disposal of registration applications, action on the notices of cancellation, revocation etc., and other such activities. The Concerned Officers to complete all such activities in time bound manner in Work from home mode and if required may visit the Office, as needed so as to ensure proper disposal within the given timeline.
In order to increases the awareness regarding online grievance redressal mechanisms, all Recognized Stock Exchanges including Commodity Derivatives Exchanges/ Depositories / Clearing Corporations are advised to display the following on the home page of their websites and mobile apps: 1. link / option to lodge complaint with them directly and 2. link to SCORES website/ link to download SCORES mobile app.
ACIT Vs Punjab & Sind Bank (ITAT Delhi) The issue in the present ground is with respect to the disallowance of contribution to Punjab & Sind Bank Employees Pension Fund Trust under Section 36(1)(iv) of the Act r.w. Rule 87 & 88 of the Income Tax Rule, 1962. We find that identical issue arose before […]
(1) These Regulations may be called the International Financial Services Centres Authority (Insurance Intermediary) (Amendment) Regulations, 2021. (2) They shall come into force from the date of their publication in the Official Gazette.
Provide a certificate from a practicing Chartered Accountant in India, a practicing Company Secretary in India, a practicing Cost Accountant in India or any other person with appropriate qualification, as specified by the Authority, certifying that all the requirements of the Act read with IFSCA (Registration of Insurance Business) Regulations, 2021 and notifications issued under section 2CA of the Act have been complied with by the Applicant.
Govt notifies that Rule 9(1A) of Prevention of Money-laundering (PML) (Maintenance of Records) Rules, 2005 shall not be applicable to Foreign Portfolio Investor (FPI) MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 4th January, 2022 G.S.R. 5(E).—In exercise of the powers conferred by sub-clause (i) of clause (h) of sub-rule (2) of rule […]
