CBDT clarification regarding linkage of PAN and Aadhaar for the transactions so as to avoid higher deduction/collection of tax
The Board specifies that in respect of cases where higher rate of TDSITCS was attracted under section 206AA1206CC of the Act pertaining to the transactions entered into up to 31.03.2024 and in case of demise of the deductee/collectee on or before 31.05.2024 i.e. before the linkage of PAN and Aadhaar could have been done, there shall be no liability on the deductor/collector to deducVcoliect the tax under section 206AA1206CC, as the case maybe.
Artificial Intelligence in Judiciary
A Committee headed by Hon’ble Judge of the Supreme Court of India has been constituted to monitor the translation of important Supreme Court and High Court judgments into vernacular languages using AI.
BCI Regulations for Online Legal Services against solicitation
This rule is designed to maintain the professional decorum and ethical standards of the legal profession. It prohibits any form of advertisement or solicitation of work, ensuring that the legal profession remains a service-oriented practice rather than a commercial enterprise.
Report of TRAI deliberation with Regulatory Heads of all the Telecom Service Providers
If any entity misuses its SIP/PRI lines for making spam calls, all the Telecom Resources of the entity shall be disconnected by its Telecom Service Provider (TSP) and the entity shall be blacklisted by it. This information shall be shared by the TSP with all other TSPs who will, in turn, disconnect all the telecom resources given by them to that entity and blacklist it for a period of up to two years. No new telecom resources shall be allocated to it by any TSP during the period of blacklisting.
SEBI Consultation Paper on Streamlining the process and reduction in timelines of Bonus Issue (enabling T+2 trading of shares post record date where T being record date)
It has been decided to reduce the time taken for credit of bonus shares and trading of such shares, from the record date of the Bonus Issue under SEBI (ICDR) Regulations, 2018.
SEBI Consultation Paper on proposed amendments to the SEBI (Prohibition of Insider Trading) Regulations, 2015 to redefine ‘connected person’
The comments along with rationale may be submitted by any of the following modes latest by August 18, 2024 online.
SEBI Consultation Paper on investment by Foreign Investors through Segregated Portfolios/ P-notes/ Offshore Derivative Instruments
The comments/ suggestions should be submitted latest by August 27, 2024.
SEBI Consultation Paper on draft circular for Reporting by Foreign Venture Capital Investors
The circular seeks to amend format for quarterly report on venture capital activity to be submitted by FVCIs. FVCI shall submit the quarterly report irrespective of the fact that any investment is made or not during the quarter.
IFSCA Announces the Winners of Hackathon “Sprint13: Longevity Economy Cohort” under I- Sprint’23
International Financial Services Centers Authority (IFSCA), in its endeavor to support a World Class FinTech Hub at GIFT IFSC, had launched ISprint’21, the global FinTech Hackathon as part of InFinity Forum 2021 (https://www.infinityforum.in/). InFinity Forum is IFSCA’s flagship financial technology event, uniting the world’s leading minds in policy, business, and technology to explore and advance the biggest ideas in FinTech, and to develop those ideas into global solutions and opportunities. The following proposals are declared winners:
Consultation Paper on Review of IFSCA (Fund Management) Regulations, 2022
Comments may be sent by email to Mr. Aditya Sarda, Deputy General Manager, IFSCA at aditya.sarda@ifsca.gov.in with a copy to Mr. Pavan Shah, General Manager, IFSCA at pavan.shah@ifsca.gov.in latest by August 26, 2024.
