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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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RBI issues new Directions u/s 10(4) & 11(1) of FEMA for Margin in Derivative Contracts, superseding previous Circular.

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Full Text of the Document

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....The Reserve Bank of India (RBI) issued Circular No. 05 on May 08, 2024, regarding Margin for Derivative Contracts. This circular supersedes the previous Circular No. 10 of 2021. It pertains to the Foreign Exchange Management Act, 1999, and is issued u/s 10(4) and 11(1) of the Act. The circular applies to Authorized Dealer Category-I (AD Cat-I) banks and Authorized Dealer Category-III Standalone Primary Dealers (AD Cat-III SPDs). The new Directions are effective immediately and replace the previous circular. The aim is to regulate margin requirements for derivative contracts involving residents in India and outside India.....

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