Modification to Standard Operating Procedure in the cases of Trading Member / Clearing Member leading to default
SEBI vide circular no. SEBI/HO/MIRSD/DPIEA/CIR/P/2020/115 dated July 1, 2020 had specified the Standard Operating Procedure for the steps to be taken by the Stock Exchanges (“SEs”), Clearing Corporations (“CCs”) and Depositories in cases where Trading Member / Clearing Member is likely to default in repayment of funds or securities to its clients.
Aa monetary limit of Rs. 25 lakhs has been prescribed for settling the credit balance of investors out of the unencumbered deposits available with the SEs/ CCs, after adjusting for any dues of the SE / CC and maintaining the minimum BMC, starting from the smallest amount.
The investors having credit balance of more than Rs. 25,00,000/- (Rupees twenty five lakh) shall be paid on pro-rata basis from the remaining funds
For claiming exemption u/s 11, assessee is required to furnish return of income within time allowed u/s 139 and not…
FAQs on amendment proposed to rates of Tax Collection at Source u/s 394(1) of the Income-tax Act, 2025 Income Tax…
FAQs on amendment proposed in Updated return provisions under section 263(6) of Income Tax Act 2025 by Budget 2026-27 Income…
Income Tax Department has issued a FAQ on amendments proposed to provisions related to Tax Deduction at Source (TDS) and…
Baggage Rules 2026 to rationalise existing rules to address genuine concerns faced by passengers at airports The earlier Baggage Rules,…
Amendment in due dates for filing return of income and time limit for filing revised return under Income Tax Act…