Reporting Requirement on Bank Guarantees (BGs) created out of clients’ funds This article provides important information regarding the reporting requirement for Bank Guarantees (BGs) created from clients’ funds, as outlined in SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/061 dated April 25, 2023, and Exchange Circular No. NSE/INSP/56489 dated April 25, 2023. Introduction In compliance with the aforementioned SEBI Circular, it is mandatory to implement the following provisions: No creation of new Bank Guarantees (BGs) from clients’ funds Effective […]

How Income from the Stock Market is Taxed: Explained Introduction When it comes to the sale and purchase of shares, the income generated falls under the category of business income or capital gain. For those who have made profits in the recent stock market rally, understanding how their income from the stock market will be taxed is crucial. In this article, we will explore the income tax rules for stock market investors, the differentiation between […]

Income Tax Notice: 6 High-Value Cash Transactions That Can Raise Red Flags The Income Tax Department is vigilant about certain high-value transactions that could lead to legal consequences if ignored. To combat tax evasion and money laundering, tax authorities closely monitor various cash-related transactions. Financial institutions, including banks, mutual fund companies, brokerages, and property registrars, have the responsibility of reporting cash transactions that exceed a specific threshold to the tax department. In this article, we […]

Operating Guidelines for Trading Supported by Blocked Amount in Secondary Market – NSE Segment: Equity Cash Segment In an effort to streamline trading in the secondary market, the Securities and Exchange Board of India (SEBI) has introduced a supplementary process known as the Facility. Under this process, trading is based on the amount blocked in an investor’s bank account. This circular outlines the operational guidelines for the Facility. Registration for the Facility Availing the Facility […]

FSSAI Advises 5-Year Licenses for Food Business Operators Introduction: Licensing Recommendations by FSSAI’s Advisory Committee The Food Safety and Standards Authority of India (FSSAI) has announced that its Central Advisory Committee (CAC) is recommending longer licenses for food business operators (FBOs). Instead of one-year licenses, FBOs may now be eligible for licenses of up to five years. This decision comes after the 41st CAC meeting held in Tirupati, Andhra Pradesh, where food safety and compliance […]