T.N. registration department issues clarification on registration charges
While registering the documents in the name of the purchaser of the flat in the Sub-Registrar office, the deed of sale of proportionate undivided share (UDS) of the land and the construction agreement were being registered. As per the prevailing rates, a 7% stamp duty and a 2% registration fee on the market value of the property were levied for the documents relating to the sale of undivided share of land.
SEBI directs depositories to constitute a committee to facilitate the reversal of erroneous transfers in demat accounts
The depositories shall place before the committee all such instances of erroneous transfers pending for reversal. The committee shall examine such erroneous transfers and provide an opportunity of hearing to both the parties in the interest of principles of natural justice. The committee shall, based on the documentary evidence and the hearing, take a decision on the basis of reasons to be recorded in writing. Depositories shall subsequently act based on the decision of the committee and shall send an email to the registered email ID of the transferee, informing about the decision of the committee.
FAQs on SEBI Registered Investment Advisers
The FAQ clarifies that IAs are required to conduct annual audit in respect of compliance of the IA Regulations and circulars issued thereunder. The audit is required to be completed within six months from the end of each financial year. The adverse findings of the audit, if any, along with action taken thereof duly approved by the individual IA/ management of non-individual IA, is required to be reported to SEBI within a period of one month from the date of the audit report but not later than October 31st of each year for the previous financial year.
Ministry of Cooperation on sets up National Cooperative Organics Limited (NCOL) and Bharatiya Beej Sahakari Samiti Limited (BBSSL) under Multi-State Cooperative Societies (MSCS) Act, 2002
Bharatiya Beej Sahkari Samiti Limited will help in increasing the production of quality seeds in India through cooperatives thereby reducing the dependence on imported seeds, enhancing agriculture production and provide boost to rural economy. All cooperative societies from the level of primary to apex, are eligible to become its member.
Mines and Minerals (Development and Regulation) Amendment Act, 2023
The holder of the exploration licence shall, within three months of the completion of the operations for which licence has been granted, or of the date of expiry of the exploration licence, whichever is earlier, submit a geological report to the State Government explaining the result of the reconnaissance and prospecting operations, in such manner as may be prescribed.
A.P clarification on taxation on the supply of Construction Services
The amendment has revised the form for exercising option by a Goods Transport Agency intending to revert under reverse charge mechanism to be filed before the commencement of any financial year to be submitted before the jurisdictional GST Authority
Tripura government implements CBIC clarification regarding taxability of services provided by an office of an organization in one State to the office of that organization in another State
It is clarified that in respect of common input services procured by the Head Office(HO) from a third party but attributable to both HO and Branch Office(BO) or exclusively to one or more BOs, HO has an option to distribute ITC in respect of such common input services by following ISD mechanism.
