Form 15G and Form 15H

Forms 15G and 15H both are self -declaration forms by assesse to prevent deduction of TDS on your fixed deposit interest income by banks / NBFC / Financial Institutions. To avail the benefit of these forms having PAN is mandatory.   Form 15G Applicability of

Companies (Incorporation) 2nd Amendment Rules 2021

RELEVANT EXTRACT  G.S.R. ..... (E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Incorporation) Rules, 2014, namely: -

Income Tax Department conducts searches in Kolkata

RELEVANT EXTRACT  The Income Tax Department carried out  search and  seizure action on  29.01.2021 on the group based in Kolkata, engaged in the business of manufacturing of  iron & steel and tea. The cases were developed based on the available data in the  departmental database,

Revised Framework for Innovation Sandbox

RELEVANT EXTRACT  The capital market in India has been an early adopter of technology. SEBI believes that encouraging adoption and usage of financial technology (‘FinTech') would have a profound impact on the development of the securities market. FinTech can act as a catalyst to further

Companies (Specification of Definition details) Amendment Rules 2021

RELEVANT EXTRACT  G.S.R. 92(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the  Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the  Companies (Specification of Definitions Details) Rules, 2014, namely:

Setting up of Limited Purpose Clearing Corporation (LPCC) by Asset Management Companies (AMCs) of Mutual Funds

RELEVANT EXTRACT  1.With the objective of development of the corporate bond market from the  perspective of mutual funds, the Mutual Fund Advisory Committee (MFAC) of  SEBI had constituted a Working Group consisting of representatives of various  Mutual Funds, Clearing Corporation of India Limited (CCIL) and

Companies (compromises, arrangements and amalgamations) Amendment Rules 2021

RELEVANT EXTRACT  G.S.R. 93(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with  sections 230 to 233 and sections 235 to 240 of the Companies Act, 2013 (18 of 2013), the Central Government hereby  makes the following rules further

FAQs on Compliance functions in banks and Role of Chief Compliance Officer (CCO)

RELEVANT EXTRACT  1. As per Para 2.1, the compliance function is expected to ensure compliance to all applicable statutory provisions, apart from other rules, regulations and code of conducts. As different groups/departments in the banks are responsible to ensure compliance to different statutory requirements, what