CBDT issues guidelines on applicability of the new TDS provision.
The new section mandates a person, who is responsible for paying to any resident any sum by way of consideration for transfer of a virtual digital asset (VDA), to deduct an amount equal to 1% of such sum as income tax thereon. The tax deduction is required to be made at the time of credit of such sum to the account of the resident or at the time of payment, whichever is earlier.
AICTE directs institutions to develop Industry-led course modules to increase the employability of students.
AICTE has directed all the AICTE-approved institutions to develop and promote of industry-oriented course modules to increase the employability of students. The Council has also requested the institutions to interact with leading industries for development and promotion of industry oriented course modules, and credits may be given to student’s the completing such course modules.
RBI extends the timeline for implementing certain provisions related to credit and debit cards.
Card-issuers shall seek One Time Password (OTP) based consent from the cardholder for activating a credit card, if the same has not been activated by the customer for more than 30 days from the date of issuance. If no consent is received for activating the card, card-issuers shall close the credit card account without any cost to the customer within seven working days from date of seeking confirmation from the customer.
The government of West Bengal grants paid holiday to employees on the occasion of Municipality election.
Therefore all shops, commercial and industrial establishments, in the areas pertaining to the Municipalities, to which
elections have been notified and in whose units Sunday, the 26th June, 2022 is a working day, to grant a paid holiday on 26.06.2022 (Sunday) to all categories of workers and employees.
Income-tax (19th Amendment) Rules, 2022
Every specified person responsible for deduction of tax at source @1% on the payment of purchase consideration to a resident person, on transfer of a virtual digital asset under section 194S shall furnish to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) or the person authorized by the Principal Director General of Income-tax (Systems) or the Director General of Income tax (Systems), a challan-cum-statement in Form No. 26QE electronically within thirty days from the end of the month in which the deduction is made.
Bureau of Energy Efficiency (Manner and Intervals for Conduct of Energy Audit in electricity distribution companies) Amendment Regulations, 2022
The amendment directs electricity distribution companies to Submit, in addition to annual energy audit report, the periodic energy accounting report to the Bureau and respective State Designated Agency and also made available on the website of electricity distribution company within forty-five days from the date of the periodic energy accounting.
