Press Releases

Report of Committee on Development of Housing Finance Securitisation Market

Press Release: 2019-2020/651 (09/09/2019)

The key recommendations of the Committee, guided by the broad perspective of enhancing efficiency and transparency of securitisation transactions, are as follows: setting up of a government sponsored intermediary, through the National Housing Bank, to enable market making and standard setting;...

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CBDT enters into 26APAs during current Financial Year

NA (04/09/2019)

CBDT has entered into 26 APAs in the first 5 months of the current financial year (April to August, 2019). With the signing of these APAs, the total number of APAs entered into by the CBDT as of now stand at 297, which includes 32 BAPAs....

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Clarification on applicability of TDS on cash withdrawals | Section 194N

NA (30/08/2019)

Section 194N inserted in the Act, is to come into effect from 1st September, 2019. Hence, any cash withdrawal prior to 1st September, 2019 will not be subjected to the TDS under section 194N of the Act. However, since the threshold of Rs. 1 crore is with respect to the previous year, calculation of amount of cash withdrawal for triggering...

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CBDT constitutes Cell for redressal of grievances related to Start-ups

F.No. 187/6/2019-ITA-I (30/08/2019)

In order to redress grievances and address various tax related issues in the cases of Start-ups, a Start-up Cell has been constituted by CBDT on 30.08.2019 with the following ex-officio members:...

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CBDT clarifies differential taxation of FPIs and domestic investors

NA (28/08/2019)

It has come to the notice of CBDT that an incorrect perception was being created in a section of the media inasmuch as if the announcements made by FM on last Friday, which brought in a number of responsive structural measures to boost up the economy, had created a differential regime between FPIs and domestic investors including AIF cate...

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RBI approves transfer of Rs. 1.76 crore to Government of India

Press Release: 2019-2020/531 (26/08/2019)

Central Board of the Reserve Bank of India (RBI) today decided to transfer a sum of ₹1,76,051 crore to the Government of India (Government) comprising of ₹1,23,414 crore of surplus for the year 2018-19 and ₹52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF) adopted at the meeting of the ...

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Govt withdraws enhanced surcharge on tax payable on transfer of certain assets

Release ID: 1582824 (24/08/2019)

In order to encourage investment in the capital market, it has been decided to withdraw the enhanced surcharge levied by Finance (No. 2) Act, 2019 on tax payable at special rate on income arising from the transfer of equity share/unit referred to in section 111A and section 112A of the Income-tax Act,1961(the 'Act') from the current FY 20...

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CBDT issues clarification on eligibility of small Start-ups to avail tax holiday

NA (22/08/2019)

The Central Board of Direct Taxes (CBDT) has clarified today that small start-ups with turnover upto Rs. 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act, 1961(the ‘Act’), which provides deduction for 100 per cent of income of an eligible start-up for 3 years […]...

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ICSI Announces 100% Fee Waiver for students of J&K & Ladakh

Government of India has taken major initiatives to bring development in the Union Territories of Jammu & Kashmir and Ladakh. The Institute of Company Secretaries of India aligning with the initiatives of the Government of India, and to achieve a growth process in which people from different walks of life can participate and benefit, has l...

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SEBI reviews Foreign Portfolio Investors / Buy Back Regulations etc.

Press Release No. 20/2019 (21/08/2019)

Securities and Exchange Board of India PR No.20/2019 SEBI Board Meeting The SEBI Board met in Mumbai today and took the following decisions: I. Review of SEBI (Foreign Portfolio Investors) Regulations The Board considered the recommendations of the working group constituted for reviewing the SEBI (Foreign Portfolio Investors) Regulations,...

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