Category Archives: Regulatory

The Finance Act, 2023 amended section 56(2)(viib) of the Income Tax Act, 1961 (‘the Act’) to bring into account the consideration received from non-residents for issuance of shares. Now, the CBDT has notified Income-tax (Twenty-First Amendment) Rules, 2023, amending Rule … Continue reading →

The Securities and Exchange Board of India (“SEBI”) have included framework for voluntary delisting of non-convertible redeemable preference shares and non-convertible redeemable preference shares (collective “NC Securities”) from Stock Exchange (“SE”) by inserting Chapter VIA to the Securities and Exchange … Continue reading →

Entry Option Investment routes Funding Option Repatriation of Funds India Entry Options Project Office: PO represents interests of the foreign company executing a project in India. Permitted activities These offices can only undertake an activity related and incidental to execution of … Continue reading →

The Stock Exchange Board of India, vide SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023 dated 14th June, 2023, and its follow-on Circulars dated 12th July, 2023, and 13th July, 2023, has introduced significant developments on disclosures by … Continue reading →

Certain changes were announced to the system of TCS on payments under the LRS and on overseas tour program packages. These were to take effect from 1 July 2023. The government had also notified Foreign Exchange Management (Current Account Transactions) … Continue reading →