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CBDT notifies Norges Bank as sovereign wealth fund U/s. 10(23FE)

October 14, 2022 738 Views 0 comment Print

CBDT notifies sovereign wealth fund, namely, Norges Bank On Account Of The Government Pension Fund Global  vide Notification No. 115/2022-Income Tax | Dated: 14th October, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 115/2022-Income Tax | Dated: 14th October, 2022 S.O. 4893(E).—In exercise of powers conferred by […]

CBDT notifies Ontario Limited as pension fund – section 10(23FE)

October 13, 2022 477 Views 0 comment Print

CBDT notifies Ontario Limited as pension fund – section 10(23FE) vide Notification No. 114/2022-Income Tax | Dated: 13th October, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 114/2022-Income Tax | Dated: 13th October, 2022 S.O. 4872(E).—In exercise of powers conferred by sub-clause (iv) of clause (c) of […]

CBDT notifies jurisdiction of CIT(A) under Faceless Appeal Scheme, 2021 

October 13, 2022 10245 Views 0 comment Print

CBDT notifies jurisdiction of CIT(A) under Faceless Appeal Scheme, 2021  vide Notification No. 113/2022-Income Tax  Dated: 13th October, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 113/2022-Income Tax  Dated: 13th October, 2022 S.O. 4873(E).— In exercise of the powers conferred by sub-sections (1) and (2) of section 120 […]

Insurance cover for new-borns/infants under health insurance policies

October 12, 2022 2304 Views 0 comment Print

It is reiterated that all insurance products that cover newborns/unborns shall comply with the above referred provisions without any deviation and provide, coverage from day one(1) without imposing any waiting periods/sub-limits or any other restrictive conditions.

Export quota of only broken rice (HS code 1006 40 00) for year 2022-23

October 12, 2022 1275 Views 0 comment Print

Quota of 3,97,267 MT of only broken rice under HS Code 1006 40 00, applicable only to LCs opened before the Notification No.31/2015-2020 dated 8th September, 2022 and the message exchange date between the Indian and foreign bank / swift date also prior to 8th September, 2022, to be exported during year 2022-23, is notified. […]

Food Safety and Standards (Labelling and Display) Second Amendment Regulations, 2022

October 11, 2022 1794 Views 0 comment Print

Food Safety and Standards (Labelling and Display) Second Amendment Regulations, 2022 shall come into force on 1st May, 2023.

Updated Harmonized Master List of Infrastructure Sub-sectors

October 11, 2022 37509 Views 0 comment Print

Data Centres and Energy Storage Systems (ESS) is included in the Harmonized Master List of Infrastructure sub-sectors

RBI (Unhedged Foreign Currency Exposure) Directions, 2022

October 11, 2022 129432 Views 1 comment Print

Banks shall ascertain the Foreign Currency Exposure (FCE) of all entities2 at least on an annual basis. Banks shall compute the FCE following the relevant accounting standard applicable for the entity.

RBI guideline on Disclosure of Divergence in Asset Classification & Provisioning

October 11, 2022 2856 Views 0 comment Print

Reserve Bank of India RBI/2022-23/130 DOR.ACC.REC.No.74/21.04.018/2022-23 October 11, 2022 Madam / Dear Sir, Reserve Bank of India (Financial Statements – Presentation and Disclosures) Directions, 2021 – Disclosure of Divergence in Asset Classification and Provisioning In terms of paragraph C.4(e) of Annexure III to the Reserve Bank of India (Financial Statements-Presentation and Disclosures) Directions, 2021, commercial banks […]

Multiple NBFCs in a Group: Classification in Middle Layer

October 11, 2022 6561 Views 0 comment Print

If the consolidated asset (consolidation as per para 2 above) size of the Group is ₹1000 crore and above, then each Investment and Credit Company (NBFC-ICC), Micro Finance Institution (NBFC-MFI), NBFC-Factor and Mortgage Guarantee Company (NBFC-MGC) lying in the Group shall be classified as an NBFC in the Middle Layer

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