Disaster management and relief added in CSR activities

Central Government by a notification dated 30th May, 2019 has amended Schedule VII of the Companies Act, 2013 to include “disaster management, including relief, rehabilitation and reconstruction activities” in the list of approved activities towards …

Kerala Flood Cess levied by Kerala State Government

The given notification has been issued by the Kerala State Government for the purpose of levying the Kerala Flood Cess. The same has been passed in furtherance of the 30th Meeting of The GST Council …

Securities Exchange Board of India: Enhanced disclosure in case of listed debt securities

Securities and Exchange Board of India (SEBI) has on May 27, 2019 issued circular regarding Enhanced disclosure in case of listed debt securities. The amendments to the existing legislative framework governing Debenture Trustees (DTs) were made …

Draft frameworks for Regulatory Sandbox

India’s FinTech space is going through an evolutionary phase. A Regulatory Sandbox is a controlled environment for live testing of new technology with limited Regulations and customer exposure. The innovators, the financial service providers and …

Delhi Building Bye laws amended

Urban Development Department of Government of National Capital Territory of Delhi has amended Unified Building Bye Laws (UBBL) for Delhi 2016 by a notification dated 27th May, 2019. As per the amendment, a new Clause …

FSSAI License/ Registration in case of unattended applications

The Food Safety and Standards Authority of India (FSSAI) has vide its order dated May 24, 2019, communicated its decision to issue License or Registration, for applications pending beyond the time frame provided in the …

EPFO clarifies on TDS for payment of Provident Fund

EPFO has recently issued a clarification on 20 May 2019, that Tax need not be deducted at source on payment of accumulated balance which are due and have become payable to the employee participating in …

RBI released Draft Liquidity Risk Management Framework for NBFC and CICs

The Reserve Bank of India has issued draft circular on “Liquidity Risk Management Framework for Non-Banking Financial Companies (NBFCs) and Core Investment Companies (CICs)” on May 24, 2019, for public comments. The Framework will be adopted by: …

PCS Certificate on Demat Securities for unlisted public companies – Notified

The Ministry of Corporate Affairs (MCA) on May 22, 2019, has published the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2019 to further amend the Companies (Prospectus and Allotment of Securities) Rules, 2014, …

Form 15H amended, senior citizens to get higher TDS exemption on interest income

The Central Board of Direct Taxes (CBDT) has issued a notification on 22nd May, 2019 amending Form 15H to give effect to the Budget announcement of giving full tax rebate to individuals having a taxable …

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