CBDT decided that the new procedure-related to companies shall be implement after 1st October, 2020
The entities approved/ registered/ notified under section 10(23C), 12AA, 35 and 80G of the Income-tax Act, 1961 (the Act) would be required to file intimation within three months from 1st October, 2020, i.e, by 31st December, 2020.
Labour reforms sought before Ministry of Labour to restart the economy after lockdown due to COVID-19
The industry bodies requested to the Ministry of Labour and Employment a slew of measures and sought ‘relaxations’ such as increasing working hours to 12 hours per day from the existing 8 hours per day and sought relaxation of the provisions of the Industrial Disputes Act to treat the lockdown period as lay-off.
Insurance regulator extends grace period for life insurance policies.
The Insurance Regulatory and Development Authority of India in its press release dated 9th May 2020, has allowed extended grace period up to May 31 for all life insurance policies whose premium was due in March keeping in view the difficulty faced by some policyholders to renew the policies in time.
NDMA issues guidelines for restarting manufacturing industries post lockdown
National Disaster Management Authority (NDMA) on 9th May has issued fresh guidelines for re-starting manufacturing industries post-lockdown and the precautions to be taken for the safety of the plants as well as the workers.
The government of Tamil Nadu eases lockdown restrictions for private offices & shops from 11th May
Standalone and neighborhood shops will remain open from 10.30 am to 6 pm in Chennai, and 10 am to 7 pm in the rest of the state and all tea shops, except those in containment zones, can sell takeaway parcels from 6 am to 7 pm.tandalone and neighborhood shops will remain open from 10.30 am to 6 pm in Chennai, and 10 am to 7 pm in the rest of the state and all tea shops, except those in containment zones, can sell takeaway parcels from 6 am to 7 pm.
MOHFW revises discharge policy of Covid 19 cases based on symptom or time based strategy
Ministry of Health and Family Welfare has published a revised discharge policy for COVID-19 cases on 8th May, 2020. The revised discharge policy is aligned with the guidelines on the 3 tier COVID facilities and the categorization of the patients based on clinical severity.
IBBI clarifies role of Liquidator in Avoidance Transactions
The Insolvency and Bankruptcy Board of India vide Circular dated 8th May, 2020 has clarified the Role of Resolution Professional/Liquidator in respect of Avoidance Transactions.
