SEBI

SEBI mandates email as default mode for Consolidated Account Statement

SEBI mandates email as default mode of dispatch for Consolidated Account Statement by Depositories, Mutual Fund etc.

SEBI has mandated email as default mode of dispatch for Consolidated Account Statement by Depositories, Mutual Fund etc.

According to SBI Circular dated 1st July 2024, the decision has been taken considering the increasing reach of digital technology making the electronic mode the preferred mode of communication and as a green initiative measure and to streamline the regulatory guidelines on mode of dispatch of account statements.

According to the circular, it has been decided to revisit the regulatory provisions and provide for email as default mode of dispatch for Consolidated Account Statement (CAS) by Depositories, Mutual Fund –Registrar and Transfer Agents (MF–RTAs) and holding statement by Depositories Participant (DP).

The circular shall be effective from August 01, 2024.

Accordingly, SEBI Master Circular on Depositories dated October 06, 2023 has been modified and the Depositories are directed to make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision, as may be applicable/necessary, to carry out system changes, if any, to implement the above and disseminate the provisions of this circular on their website.

FCRA specifies list of 105 purposes to be selected for which registration is applied

FCRA specifies list of purposes to be selected for which registration is applied. The Ministry of Home Affairs has notified…

3 days ago

Income Tax

Withholding tax u/s 40(a)(i) not required on cost-to-cost reimbursement made to parent company

Assessee was not liable to withhold tax at source u/s 40(a)(i) on cost-to-cost reimbursement made to parent company In a…

3 days ago

Government

Temporarily blocking public access to Telegram App not disproportionate – Delhi High Court

Temporarily blocking public access to Telegram App under section 69A of IT Act 2000 is not disproportionate - Delhi HC…

6 days ago

Income Tax

High Court explains the meaning of term ‘enterprise’ appearing in section 80IA

High Court explains the meaning of term ‘enterprise’ appearing in section 80IA to means a project or an undertaking owned…

6 days ago

Income Tax

Addition deleted as assessee was only a carrier of cash not owner who came up to own it

Addition deleted as assessee was only a carrier of cash and the real owner had come forward owning the cash…

1 week ago

Lokayukta Police not exempt from disclosure of information under RTI Act 2005 – SC

Lokayukta Police not an ‘intelligence and security’ organisation and hence not exempt from disclosure of information under RTI Act 2005…