CBDT Circular on TDS on Salaries for FY 2022-23

Every year The Central Board of Direct Taxes (‘CBDT’) issues guidelines regarding tax to be deducted at source on salary under section 192 of the Income Tax Act, 1961. The guidelines focuses on the documents to be collected by the employer and submitted by the employee to his/her employee so that employer will deduct the tax accordingly.

Master Direction – Export of Goods and Services

In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place with effect from July 11, 2022 an additional arrangement for invoicing, payment, and settlement of exports / imports in INR.

Companies (Registered Valuers and Valuation) Rules, 2017

In exercise of the powers conferred by section 247 read with section 458,459 and 469 of the Company’s Act, 2013, the Central Government hereby makes the following rules further to amend the Companies (Registered Valuers and Valuation) Rules, 2017

Annual Compliance Certificate for Insolvency Professional Agencies

In furtherance to Circular issued by IBBI dated 31/10/2022 and in consequence of amendments in Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016, and in suppression of the Circular No: IPA/009/2018 dated 19th April, 2018,

Late Submission Fee for delays under FEMA

The Late Submission Fee (LSF) was introduced for reporting delays in Foreign Investment (FI), External Commercial Borrowings (ECBs) and Overseas Investment related transactions

Insolvency Resolution Process for Corporate Persons

IBBI prescribes minimum fees and performance incentive for Interim Resolution Professionals(IRPs)/ Resolution Professionals(RPs) under CIRP Regulations. IBBI has notified the defined fee structure payable to IRPs and RPs who are appointed on or after 1st October 2022.

Foreign Exchange Management (Overseas Investment) Regulations, 2022

The Indian entity may lend or invest in any debt instrument issued by a foreign entity or extend non-fund based commitment to or on behalf of a foreign entity including overseas step down subsidiaries of such Indian entity subject to the following conditions within the financial commitment limit as prescribed in the Foreign Exchange Management (Overseas Investment) Rules, 2022.

Removal of Names of Companies from Register of Companies

Removal of Names of Companies from Register of Companies MCA has issued Second Amendment Rule, 2022 in Companies (Removal of Names of Companies from Register of Companies) 1 Notification Date 24/08/2022 2 Subject Companies (Removal of Names of Companies from Register of Companies) Second Amendment Rule, 2022 3 Brief description MCA amend formats of notices […]

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