Central Government hereby specifies that no TDS shall be deducted under section 194-IA of Income Tax Act on any payment made to the Air India Limited for transfer of immovable property to Air India Assets Holding Limited under a plan approved by the Central Government. Notification No. 106/2021-Income Tax | Dated: 10th September, 2021 MINISTRY […]
Finance Act, 2021 has amended section 72A of the Income-tax Act, 1961 (the Act) to inter alia provide that in case of an amalgamation of a public sector company (PSU) which ceases to be a PSU (erstwhile public sector company), as part of strategic disinvestment, with one or more company or companies, then, subject to the conditions laid therein, the accumulated loss and the unabsorbed depreciation of the amalgamating company shall be deemed to be the loss, or as the case may be, allowance for unabsorbed depreciation of the amalgamated company for the previous year in which the amalgamation was effected.
Transfer of capital asset under plan approved by Central Government from Air India Limited being transferor public sector company, to Air India Assets Holding Limited being transferee public sector company will not be regarded as transfer as per clause (viiaf) of the section 47 of the Income-tax Act, 1961. Notification No. 104/2021-Income Tax | Dated: […]
Vide Notification No. 103/2021-Income Tax | Dated: 10th September, 2021 CBDT notifies Tax Exemption to ‘District Mineral Foundation Trust’ . MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 103/2021-Income Tax | Dated: 10th September, 2021 S.O. 3659(E).—In exercise of the powers conferred by clause (46) of section 10 […]
Reserve Bank of India RBI/2021-22/97 DOR.CRE.REC.47/21.01.003/2021-22 September 09, 2021 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir/Madam, Large Exposures Framework – Credit Risk Mitigation (CRM) for offsetting – non-centrally cleared derivative transactions of foreign bank branches in India with their Head Office Please refer to circular No. DBR.No.BP.BC.43/21.01.003/2018-19 dated June 03, 2019 on […]
It has now been decided to introduce the ‘Revised Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme’ for the exports effected on or after 01.04.2021. The earlier scheme would remain in operation for the exports effected up to 31.03.2021.
Notification No. 24/2015-2020 Import policy of Mercury has been revised from ‘Free’ to ‘Restricted’ subject to obtaining Prior Informed Consent from MoEF&CC.
Rate of interest, if any, payable on the advance payment shall not exceed 100 basis points above the London Inter-Bank Offered Rate (LIBOR) or other applicable benchmark as may be directed by the Reserve Bank, as the case may be
Insurance Regulatory and Development Authority of India had set up a Working Group to study the feasibility of General Insurers to underwrite Surety Insurance. The Authority, upon examining the recommendations of the Working Group report, stakeholders’ comments and considering the specific nature of Surety insurance as a product, has proposed separate guidelines to regulate the Surety Insurance business. Accordingly, the draft guidelines are prepared and placed in the annexure.
Insurance Regulatory and Development Authority of India Survey No.115/1, Financial District, Nanakramguda, HYDERABAD 500 032. IRDAI/NL/GDL/MISC/244/09/2021 8th September, 2021 To The Chairman-Cum- Managing Directors/Chief Executive officers of General Insurance Companies (except ECGC Ltd and AIC Ltd) Madam/Sir, IRDAI (Trade Credit Insurance) Guidelines, 2021 The revised guidelines on Trade Credit insurance are hereby issued considering the […]
