ESIC directs the authorized officers not to ask for any records beyond 5 years from employer for inspection.
ESIC clarifies that the Authorized Officers is not permitted to ask for any records, relating to the contributions made by the employer to the ESIC before five years, from the employers while conducting test inspection/inspection and time limit of five years must be strictly followed in determining the contributions and issue of speaking orders by the authorized officers.
SEBI introduces standard templates for PPMs and a mandatory procedure for performance bench-marking of AIFs
In furtherance of the steps taken by SEBI to streamline disclosure standards in the growing AIF space, after consultation of public comments and deliberations of the Alternative Investment Policy Advisory Committee (AIPAC), SEBI has introduced the following circular for Standardization of Private Placement Memorandum and for introduction of an industry benchmark to compare the performance of AIF industry against other investment avenues.
SEBI Notifies common application form for FPI registration.
The Securities and Exchange Board of India vide circular dated 4th February 2020, has notified the Common Application Form (CAF) for the purpose of registration of Foreign Portfolio Investors (FPIs) with Securities and Exchange Board of India and for carrying out of Know Your Customer (KYC) for opening of bank and demat accounts.
SEBI directs stock exchanges to review commodity derivatives contracts performance on annual basis.
The Securities and Exchange Board of India in its Circular dated 4th February, 2020 has directed commodity exchanges to conduct a performance review of all commodity derivative contracts on annual basis for each financial year and disclose it by June 30 of the following financial year to SEBI and the public.
CBDT issues clarification on the new provision pertaining to residence in India.
The Finance Bill, 2020 has proposed that an Indian citizen shall be deemed to be resident in India if he or she is not liable to be taxed in any country or jurisdiction. It said that the new provision in Finance Bill, 2020 is not intended to include in tax net those Indian citizens who are bonafide workers in other countries. It is only intended to prevent abuse of double taxation avoidance laws and to check tax avoidance.
