Notifications & Circulars
Press Information Bureau
05.12.2019
Direct Taxation
CBDT issues draft notification seeking inputs for framing of rules with respect to Fund Manager Regime under Section 9A of the I.T. Act, 1961
MANU/PIBU/1896/2019
Section 9A of the Income-tax Act, 1961 (the Act) provides for a special taxation regime in respect of certain offshore funds in the context of their fund managers being located in India. It is provided that in case of an eligible investment fund, the fund management activity carried out through an eligible fund manager acting on behalf of such fund shall not constitute business connection in India of the said fund. Further, it is provided that an eligible investment fund shall not be said to be resident in India merely because the eligible fund manager undertaking fund management activities on its behalf is located in India subject to the conditions mentioned in sub-section (3) of section 9A, one of which [clause (m) of said sub-section] provides that the remuneration paid by the fund to an eligible fund manager in respect of fund management activity undertaken by him on its behalf is not less than the arm's length price of the said activity.
Accordingly, Income-tax Rules, 1962 (the Rules) were amended by way of insertion of rules 10V to 10VB and Forms 3CEJ and 3CEK vide notification No 14/2016 with SO 1101 (E) dated 15.03.2016. Rule 10V was further amended vide notification No 106/2016 with SO 3498(E) dated 21.11.2016.
Sub-rule (5) to (10) of rule 10V of the Rules contains the provisions relating to determination of the arm's length price in respect of any remuneration paid by the eligible investment fund to an eligible fund manager as referred to in clause (m) of sub-section (5) of section 9A. Finance (No 2) Act, 2019 with effect from 1st April, 2019, inter alia, amended clause (m) of sub-section (5) of section 9A so as to provide that the remuneration paid by the fund to an eligible fund manager in respect of fund management activity undertaken by him on its behalf is not less than the amount calculated in such manner as may be prescribed. Accordingly, the manner for calculation of the amount, compared to which the remuneration paid to the eligible fund manager should not be less, is required to be prescribed.
Tags : Notification Issuance Fund Manager Regime
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Press Information Bureau
05.12.2019
Civil
CSIR signs MoU with BHEL to push 'Make in India' initiative
MANU/PIBU/1889/2019
CSIR and BHEL have signed an MoU to cooperate, collaborate and pursue industrial application oriented research programmes and its commercialization in large scale. Thus, indigenously developed technologies by CSIR shall be commercialised & implemented jointly by BHEL & CSIR in the country, to make the Government of India initiative "Make in India" successful. The first joint project to be taken up under this collaboration shall be for commercialization by BHEL of various water purification / sewage disposal related technologies developed by CSIR. The MoU will remain in force for five years duration.
CSIR, the premier R&D organisation of the country, is amongst the foremost scientific and industrial research organisation of the world while BHEL is one of India's largest engineering and manufacturing enterprise in executing large Engineering, Procurement, Construction (EPC) contracts and commercializing the developed technologies for sustainable business solutions in the field of energy, industry, transmission, transportation renewables, defence & aerospace, oil & gas, water, energy storage and e-mobility.
Tags : MoU Signing of Research programmes
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Press Information Bureau
05.12.2019
Motor Vehicles
Penalties under Motor Vehicles (Amendment) Act
MANU/PIBU/1893/2019
The Motor Vehicles (Amendment) Act, 2019 inter alia provides for enhancement of penalties for offences for ensuring greater compliance and enhancing deterrence for violation of traffic rules which is intended to provide for better Road Safety resulting in reduction of accidents and fatalities on roads.
As per section 200 of the Motor Vehicles Act, 1988 the State Government may, by notification in the official gazette, specify such amount for compounding of certain offences.
The Government has issued G.S.R 1081(E) dated 02.11.2019 to amend rule 139 of the Central Motor Vehicles Rules, 1989 vide which production of certificate of registration, insurance, fitness and permit, the driving license and any other relevant documents in electronic form has been made valid.
Ministry vide letter dated 08.08.2018 and 19.11.2018 has issued advisory to all the States/UTs to accept the documents presented in electronic form in the Digilocker platform or the mParivahan App as valid under Motor Vehicles Act, 1988 and be treated at par with the certificates issued by transport authorities. Further, the Ministry vide letter dated 17.12.2018 has circulated an advisory containing the Standard Operating Procedures to be adopted by traffic/ transport related enforcement agencies to validate or impound documents in case the citizens produce documents in an electronic form as per the provisions of rule 139 of the Central Motor Vehicles Rules, 1989.
The Ministry had received certain grievances after the implementation of fines related to traffic violations under new Motor Vehicle (Amendment) Act, 2019 where citizens have raised the concerns that the documents available in Digilocker or mParivahan App of this Ministry are not considered valid by enforcement agencies. An advisory dated 23.11.2019 has been issued by this Ministry to State/UTs, advising them to issue necessary directions to all the enforcement agencies to accept documents in electronic form which is also available on Ministry's website www.morth.nic.in.
Tags : Penalties Motor Vehicles Enhancement
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Press Information Bureau
03.12.2019
Civil
Ministry of Railways signs an MoU with Department for International Development, United Kingdom
MANU/PIBU/1832/2019
The MoU envisages co-operation with DFID for Energy Efficiency & Energy Self Sufficiency for Indian Railways. The effort is to reduce carbon footprint and transform Indian Railways into "Green Railways"
With a goal of transforming Indian Railways into "Green Railways", complete electrification of Railway network has been approved by Cabinet Committee on Economic Affairs (CCEA) which will reduce its carbon footprint and will also improve its finances through reduction in fuel cost.
As part of its obligations & commitment to reduce carbon footprints, Indian Railways is taking several initiatives in the field of Green Energy to achieve the same. In line with this, a Memorandum of Understanding (MoU) was signed between Ministry of Railways, Government of India and Department for International Development (DFID), United Kingdom on 2nd December, 2019 for collaboration on energy and sustainability. The MoU was signed in the presence of Mr. Rajesh Tiwari, Member (Traction), Railway Board by Mr. Rajesh Kumar Jain, Executive Director/Electrical Engineering (Development), Indian Railways and by Mr. Gavin McGillivray, Head, DFID-India.
Through Power Sector Reform (PSR) programme, the MoU with DFID envisages to include co-operation for Energy Efficiency & Energy Self Sufficiency for Indian Railways. The collaboration of Indian Railways with DFID, United Kingdom will go a long way in ensuring self-sufficiency and efficiency in terms of energy and greener Indian Railways.
Tags : MoU Signing of Green Railways
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Press Information Bureau
03.12.2019
Civil
India and ADB sign $206 million loan to strengthen urban services in 5 Tamil Nadu cities
MANU/PIBU/1836/2019
The Asian Development Bank (ADB) and the Government of India on 2nd December 2019 signed a $206 million loan to develop water supply and sewerage infrastructure in 5 cities of Tamil Nadu and strengthen capacities of urban local bodies (ULBs) for improved service delivery.
This is the second project loan for the ADB-supported $500 million multi-tranche financing for Tamil Nadu Urban Flagship Investment Programme, approved in September 2018, that will overall develop climate-resilient water supply, sewerage, and drainage infrastructure in 10 cities of Tamil Nadu. The first project under the Programme with $169 million financing is currently under implementation.
The signatories to the loan agreement were Mr. Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in India's Ministry of Finance, and Mr Kenichi Yokoyama, Country Director of ADB's India Resident Mission.
"The project is aimed at improving the lives of the urban people in the identified cities of Tamil Nadu by providing universal access to water supply and sanitation, and improving sewage treatment and drainage systems. Project initiatives are also expected to help the state develop the requisite ecosytem for economic growth," said Mr Khare after signing the loan agreement.
"The project interventions will benefit residents, workers and industries in the state's economic corridors thereby building industrial competitiveness and creating good jobs. It also supports urban reform agenda such as better service delivery through private operators and with quality benchmarking," said Mr Yokoyama.
The project will target four cities - Ambur, Tiruchirappalli, Tiruppur, and Vellore - for developing sewage collection and treatment and drainage systems by setting up or rehabilitating sewage treatment plants, pumping stations, and connecting all households in the project area to the sewerage network, including below poverty line households. Wastewater reuse for industry will also be achieved in at least 4 cities. Improvement to water supply systems would be targeted in the cities of Madurai and Tiruppur through commissioning of over 1,260 km of new distribution lines to connect nearly 190,000 households with metered water supply, including below poverty line households. In addition, nearly 200 km of new transmission mains and 230 km of feeder mains would be constructed along with two new water treatment plants.
The project will also strengthen capacity of the Commissionerate of Municipal Administration in Tamil Nadu for new project development, and monitoring and benchmarking quality of services across the 135 urban local bodies in the state.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members - 49 from the region.
Tags : India ADB Loan Urban services
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Telecom Regulatory Authority of India
03.12.2019
Media and Communication
Implementation of Telecommunication Mobile Number Portability (Seventh Amendment) Regulations, 2018
MANU/TRAI/0136/2019
TRAI had issued the Telecommunication Mobile Number Portability (Seventh Amendment) Regulations, 2018, on 13th December 2018, to the principal regulations of Telecommunication Mobile Number Portability (MNP) Regulations 2009 (8 of 2009). The revised MNP process is scheduled to be in force w.e.f. 16th December, 2019.
Through these amendment regulations a major shift in the mechanism for generating Unique Porting Code (UPC) has been provisioned. Pre-validation of eligibility conditions for porting will determine generation of UPC by the Mobile Number Portability Service Provider (MNPSP). This shall ensure smooth porting in new framework, thus making the porting process faster and convenient to the mobile subscribers. Validity of UPC as per new process will be 4 days for all Licensed Service Areas (LSAs) barring the LSAs of Jammu & Kashmir, Assam and North East, where validity of UPC will still be 30 days.
Individual porting requests of Intra-Licensed Service Area (Intra-LSA) nature will be completed in 3 working days; whereas the porting requests of Inter-License Service Area (Inter-LSA) nature and all porting requests under corporate category (including Intra-LSA and Inter-LSA) will be completed in 5 working days.
The cut-over to the new regulations will be effective from 00:00:00 hours of 16th December, 2019. In the current MNP process, mobile subscribers can generate the UPC and submit their port request to the Recipient Operator of their choice till 17:59:59 hours of 9th December, 2019.
The porting requests submitted by the mobile subscribers till 17:59:59 hours of 9th December 2019, shall be completed within the stipulated time. Due to migration of existing process into new MNP process by telecom service providers and MNPSPs, the facility of MNP will not be available for the mobile subscribers during 10th December 2019 to 15th December 2019. The subscriber can attempt the UPC generation afresh after migration to the revised MNP process, which shall start from 00:00:00 hours of 16th December 2019.
In view of the proposed migration to new process, necessary steps will be taken by the telecom service providers in creating awareness and sensitising the mobile subscribers through their websites, call centres, point of sales and their social media platforms such as Facebook page, Twitter handle etc. so that mobile subscribers intending to port their numbers do not face inconvenience.
Tags : Implementation Seventh Amendment Regulations
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