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Covid-19 Global Pandemic Related Instructions to Life Insurers

March 23, 2020 1197 Views 0 comment Print

This has reference to various measures being taken by Central and State Governments including lockdown of certain states impacting the normal functioning of offices and the possible difficulties to policyholders in accessing various services including timely payment of premium, settlement of claims. In this regard the following directions are being issued under Section 34(1)(a) of the Insurance Act,1938.

Banks may selectively keep their branches open after discussion with authorities: IBA

March 23, 2020 3579 Views 0 comment Print

Lock down and suspension of public transport services has been announced by many Local authorities/State Governments  to curtail the spread of  COVID 19 across various geographies. Keeping this in view , after due deliberation, it is suggested that Member Banks may selectively keep their branches open at such locations after due consultation  with  the  local  state  government/authorities  to  carry  out  the   basic   essential transactions as per appeal circulated today.

Relaxation from compliance to REITs and InvITs -CoVID -19 Impact

March 23, 2020 669 Views 0 comment Print

Due to the developments arising due to the spread of the COVID 19 virus, a need for temporary relaxations in compliance requirements for REITs and InvITs is warranted. Accordingly, it has been decided to extend the due date for regulatory filings and compliances for REIT and InvIT for the period ending March 31, 2020 by one month over and above the timelines, prescribed under SEBI (Infrastructure Investment Trusts) Regulations, 2014 (InvIT Regulations) and SEBI (Real estate Investment Trusts) Regulations, 2014 (REIT Regulations) and circulars issued thereunder.

Encumbrance on units of Infrastructure Investment Trusts (InvITs)

March 23, 2020 1413 Views 0 comment Print

Entities required to hold units in terms of Regulation 12 of the InvIT Regulations may create encumbrance on such units during the mandatory holding period wherein encumbrance shall include pledge, lien, negative lien, non-disposal undertaking etc. or any other covenant, transaction, condition or arrangement in the nature of encumbrance:

Reimbursement of SGST to hotels and tour operators in Rajasthan

March 23, 2020 9444 Views 0 comment Print

Rajasthan Government decided to provide reimbursement of State Tax (SGST)  due and deposited by hotels and tour operators registered under Rajasthan Goods and Services Tax Act, 2017 vide its order dated 23-03-2020. GOVERNMENT OF RAJASTHAN FINANCE DEPARTMENT (TAX DIVISION) ORDER No. F.12(46)FD/Tax/2017-PtN-146 Jaipur, dated: 23-03-2020 Subject:- Regarding reimbursement of State Tax due and deposited to […]

Gujarat HC on SUO MOTU Precautionary Measures due to Corona Virus

March 20, 2020 1551 Views 0 comment Print

Your Lordships may be pleased to issue a writ  of mandamus  or  any  other  appropriate writ/order/direction and direct the respondent authorities to provide all the service of diagnosis,  laboratory investigation and further treatment of COVID-19 to all the persons free  of  cost  to  affected or suspected of the said pandemic 

ITAT Mumbai to hear urgent matters through video conferencing via skype or WhatsApp

March 20, 2020 972 Views 0 comment Print

It has been decided that henceforth, and till further orders, the Income Tax Appellate Tribunal, Mumbai benches, will hear only extremely urgent matters, such as, for example, stay petitions in deserving cases, preferably through web-based video conferencing call such as skype or WhatsApp video group call

Revenue not entitled to attach properties of Private Trust to recover dues of trustees

March 20, 2020 4881 Views 0 comment Print

Revenue is not entitled to attach the properties belonging to a Private Trust to recover dues of the trustees, who was a director of a company which had allegedly defaulted in paying its tax dues.

COVID-19- Companies & LLPs to file web Form CAR

March 20, 2020 26733 Views 0 comment Print

The web form named CAR. (Company Affirmation of Readiness towards COVID-19) should be filed by an authorized signatory of Companies & LLPs. CAR-2020 shall be deployed on the 23rd of March, 2020.

Advisory on Leave & Salary of workers during outbreak of COVID­19

March 20, 2020 4482 Views 2 comments Print

The World is facing a catastrophic situation due to outbreak of COVID­19 and in order to combat this challenge, coordinated joint efforts of all Sections of the Society is required. In view of the above, there may be incidence that employee’s/worker’s services are dispensed with on this pretext or the employee/worker arc forced to go on leave without wage/ salaries.

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