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Recognition of an eligible entity as startup - revised policy
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Startup recognition requires meeting temporal, turnover and innovation criteria, with certification and share issue approval through prescribed forms.
The notification sets eligibility for startup recognition-temporal, turnover and activity thresholds-and an online application regime requiring incorporation proof and a business write-up; recognised startups may seek tax certification from the Inter Ministerial Board via Form 1 and approval for share issue tax treatment via Form 2 with prescribed investor and corporate documentation, while authorities may request further information and revoke certificates or approvals obtained by false information.
Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds.
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Special Deposit Scheme interest rate established for non government provident, superannuation and gratuity funds for the specified quarter.
The notification establishes the interest rate for deposits under the Special Deposit Scheme for Non Government Provident, Superannuation and Gratuity Funds at 7.6%, effective for the specified quarter and to be applied to deposits made under the Scheme during that period.
CORRIGENDA - THE FINANCE ACT, 2018 No. 18 OF 2018
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Corrigenda to Finance Act clarify assent date and correct textual errors, amending misspellings and a reference.
Corrigenda to the Finance Act, 2018 amend the published Gazette entry to change the recorded assent date from "28th March 2018" to "29th March, 2018" and correct typographical errors, replacing "amendement" with "amendment" and "marginal heading" with the intended reference "43 of 1961."
Central Government extends the date of submission of Aadhaar Number, and Permanent Account Number or Form 60 by the clients to the reporting entity till a date to be notified subsequent to pronouncement of final judgement in W.P. (C) 494/2012 etc
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Extension of Aadhaar submission deadline: regulatory compliance timeline deferred until final judgment in ongoing Aadhaar litigation.
Central Government, under clauses (a) and (c) of sub rule (17) of rule 9 of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005, extends the deadline for clients to submit Aadhaar Number and Permanent Account Number or Form 60 to reporting entities until a date to be notified following the final judgment in the Aadhaar litigation, deferring the prior submission timeline in line with an interim judicial direction.
Central Government appoints the 31st day of March, 2018 as the date on which the provisions of PART XV of Chapter VIII of the Finance Act, 2018 (No.13 of 2018) shall come into force
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Commencement of Part XV provisions of the Finance Act: operative commencement announced under section 209.
The Central Government, exercising the power conferred by section 209 of the Finance Act, appointed the 31st day of March, 2018 as the date on which the provisions of Part XV of Chapter VIII of the Finance Act, 2018 shall come into force by formal notification.
Central Government appoints the 1st day of April, 2018 as the date on which the Part I of Chapter VIII of the Finance Act, 2018 (13 of 2018), shall come into force
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Commencement of Finance Act provisions: notification appoints the date for Part I of Chapter VIII to take effect.
Pursuant to the authority conferred by section 113 of the Finance Act, 2018, the Central Government, by notification dated 31 March 2018, designates the commencement date on which Part I of Chapter VIII of the Finance Act, 2018 shall come into force.
Central Government appoints the 31st day of March, 2018 as the date on which the provisions of PART XIII of Chapter VIII of the Finance Act, 2018 (No.13 of 2018) shall come into force
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Commencement of Part XIII of Chapter VIII comes into force on 1 April 2018 under statutory commencement powers.
The Central Government, exercising powers conferred by the Act, notifies the effective date for Part XIII of Chapter VIII, thereby activating the statutory regime set out in those provisions and recording the exercise of the Act's commencement authority by the relevant department.
Sale of Government of India Securities
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Government securities issuance rules prescribe eligibility, auction processes and repayment mechanisms including call and put options.
General guidelines prescribe eligibility (residents and specified non-residents subject to FEMA/SEBI), minimum subscription, electronic application and payment procedures, forms of holding, and interest/payment processing through designated RBI offices. Issuance modes include auctions, pre-announced coupon issues, on-tap sales and conversions, with auction mechanics (uniform/multiple price, multiple bids, green shoe, non-competitive retail participation) and RBI/Government discretion on allotment. Repayment, transferability, coupon types, embedded call/put options and applicable statutory/regulatory frameworks are governed by the Government Securities Act and Specific Notifications.
Amendment to 7.75% Savings (Taxable) Bonds 2018, Notification No S.O.44 (E)
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7.75% Savings Bonds: interest is taxable; use Revised Form A; tax exempt applicants must declare and attach certificate.
The notification substitutes clauses to state that interest on 7.75% Savings (Taxable) Bonds, 2018 is taxable under the Income Tax Act; applications must be made in Revised Form A with applicant details; applicants claiming income tax exemption must declare the exemption and attach a true copy of the tax authority certificate; and brokers registered with Receiving Offices will receive brokerage at 0.5% of the amount mobilized on stamped applications submitted on behalf of clients.
Objections or Suggestions on the Gas Cylinder (Amendment) Rules, 2018
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No Objection Certificate requirement eased for certain gas storage licences, with local body NOC retained for LPG-in-cylinder sites.
The draft narrows the No Objection Certificate obligation by excluding Form F storage licences that form part of cylinder filling plants and Form F LPG-in-cylinder storage from the District Authority NOC, while requiring local body NOC for LPG-in-cylinder sites; it also provides that licences or approvals stand cancelled if the licensee loses site rights, removes the lease agreement submission requirement in Form C, adjusts NOC submission rules for Form G and Form F applications, and updates a cross-reference in Form G to Table II of condition 7.
Government of India notifies the issue of 7.75% Savings (Taxable) Bonds, 2018 (“the Bonds”) from January 10, 2018
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7.75% Savings Bonds: taxable interest, demat-only issuance, seven-year term, limited premature encashment for seniors.
Notification issues 7.75% Savings (Taxable) Bonds, 2018 in dematerialised form at par with no maximum investment limit, payable to resident individuals and HUFs. Bonds bear 7.75% p.a. in cumulative or non-cumulative forms; interest and maturity proceeds are taxable with TDS except where exemption certificates are produced. Bonds are non-transferable, not tradable or eligible as collateral. Repayment is after seven years with restricted premature encashment for investors aged 60+ subject to age-based lock-in periods and specified surrender dates.
Electoral Bond Scheme, 2018
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Electoral bonds enable anonymous donations to eligible political parties, encashable within a short validity subject to KYC.
Electoral Bond Scheme, 2018 creates a bearer banking instrument issued by designated State Bank of India branches in specified denominations, purchasable by Indian citizens or entities subject to Know Your Customer norms. Only political parties registered under section 29A and having secured not less than one per cent of votes in the last general election may encash bonds through their authorised bank account. Bonds bear no interest, are valid for fifteen days, non-tradable and non-refundable; unencashed bonds must be deposited to the Prime Minister's Relief Fund. The face value is treated as voluntary contributions for exemption under section 13A of the Income-tax Act.

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