Daily Newsletter - August 7, 2024

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Latest additions to CAalley:

News Update:

Indian News

Budget 2024 News

Exposure Drafts:

SEBI Drafts

Legal Updates:

Income Tax

GST

MCA

IBBI

RBI

SEBI

 

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News Update:

Indian News:

Banks to offer equal benefits for RuPay Credit card on UPI transactions

Companies with multi-state presence to register as ISD with GST authorities

RBI asks top banks to refrain from large trading bets against rupee

Sebi mulls overhaul of investment advisor and research analyst rules

Banks write off loans worth Rs 9.90 trillion in last 5 years: Govt in RS

India will not relax its tax demand on Infosys, source says

Taxpayers have no say in how money is to be spent, says Bombay HC

Cyber frauds cost India Rs 177 crore in FY24: How to protect yourself

Regulator proposes faster credit and trading of bonus shares

‘Health, reinsurance premia fetched ₹24,500 cr in GST over 3 years till FY24’

RBI proposes regulatory principles for managing model risks in credit

Mkt regulator Sebi notifies mutual fund norms to prevent market abuse

 

Budget 2024 News:

Compute tax either at 12.5% without indexation or 20% with indexation on realty transactions: Govt proposes amendment

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Exposure Drafts:

SEBI Drafts:

Consultation Paper on investment by Foreign Investors through Segregated Portfolios/ P-notes/ Offshore Derivative Instruments
[Last date for Comments: August 27, 2024] 

Consultation Paper on Review of Regulatory Framework for Investment Advisers and Research Analysts
[Last date for Comments: August 26, 2024] 

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Legal Updates:

Income Tax:

Non-applicability of higher rate of TDS/TCS as per provisions of section 206AA/206CC of the Income-tax Act, 1961, in the event of death of deductee/collectee before linkage of PAN and Aadhaar [Circular No.8]

  

GST:

Compulsory Input Service Distributor (ISD) Registration notified [CGST Notification No.16]

  

MCA:

The Companies (Adjudication of Penalties) Amendment Rules, 2024

The Limited Liability Partnership (Amendment) Rules, 2024

  

IBBI:

Guidelines for Committee of Creditors

  

RBI:

Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial year 2024-25

  

SEBI:

Amendment to Master Circular for Real Estate Investment Trusts (REITs) dated May 15, 2024 – Board nomination rights to unitholders of REITs

Amendment to Master Circular for Infrastructure Investment Trusts (InvITs) dated May 15, 2024 - Board nomination rights to unitholders of InvITs

Valuation of Additional Tier- 1 Bonds

Institutional mechanism by Asset Management Companies for identification and deterrence of potential market abuse including front-running and fraudulent transactions in securities

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