The Foreign Contribution (Regulation) Amendment Rules, 2022.
Rule 6 deals with intimation of receiving foreign funds from relatives. Through this amendment it is stated that “any person receiving foreign contribution in excess of 10 lakhs or equivalent thereto in a financial year from any of his relatives shall inform the Central government (details of funds) within three months from the receipt of such contribution.
AICTE issues circular on implementation of Credit Framework for the movement from Professional/Vocational Education to Engineering & Technology.
Through this circular, the unified credit level (UCF) for exiting/entry qualification at different level has been notified. At each entry, Institution/University has to identify the educational gaps/skill gaps and suitable bridge course may be offered.
The Director General of Foreign Trade vide notification dated 1st July, 2022 has extended the last date for submitting applications to avail benefits under Merchandise Exports from India Scheme (MEIS)
The Director General of Foreign Trade vide notification dated 1st July, 2022 has extended the last date for submitting applications to avail benefits under Merchandise Exports from India Scheme (MEIS). All applications under MEIS for exports made in the period between 1st September 2020 an 31st December, 2020 shall be submitted within the extended due […]
RBI Announces Rate of Interest on Floating Rate Savings Bond, 2020 (Taxable) – FRSB 2020 (T) for the Period July 01 – December 31, 2022
Accordingly, the coupon rate on FRSB 2020 (T) for period July 1, 2022 to December 31, 2022 and payable on January 1, 2023 remains at 7.15% (6.80% +0.35%), unchanged from the previous half-year.
IFSCA notifies Regulatory framework for Angel Funds to facilitate investments in start-ups.
A Fund Management Entity (FME) in IFSC will be able to launch Angel Fund by filing a placement memorandum with the Authority under a Green Channel, i.e. the schemes can open for subscription by investors immediately upon filing the placement memorandum with the Authority.
IFSC invites public comments on the draft International Financial Services Centres Authority (Setting up and Operation of International Branch Campuses and Offshore Education Centres) Regulations, 2022.
The registration of IBC/OEC is provided to conduct educational and research courses, including executive education programmes in the GIFT IFSC and the regulations are intended to be the sole legal framework governing the establishment and operation of foreign universities or foreign educational institutions in the GIFT IFSC.
The International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2022.
Under regulation 3(9), A Parent Bank may set up its Representative Office or Global Administrative Office in IFSC under a suitable mechanism, subject to such conditions as may be specified by the Authority.
SEBI notifies new format for disclosure of shareholding patterns.
As per the amendment, in the disclosure of public shareholding, names of the shareholders holding 1% or more than 1% of shares of the listed entity is to be disclosed and the Names of the shareholders who are persons acting in concert, if available, shall be disclosed separately.
Income-tax (20th Amendment) Rules, 2022
The amendment provides that where the exchange has agreed to pay tax in relation to a transaction of transfer of a virtual digital asset, owned by it, the Exchange shall deliver or cause to be delivered, a quarterly statement of such transactions in Form No. 26QF to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems).
Draft Central Motor Vehicles (Amendment) Rules, 2022
Objections and suggestions to these draft rules, if any, may be sent to the Joint Secretary (MVL), email: comments-morth@gov.in within 30 days of publication of this notification.
